Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Finance
Reexamination Certificate
2008-06-06
2010-02-09
Cheung, Mary (Department: 3694)
Data processing: financial, business practice, management, or co
Automated electrical financial or business practice or...
Finance
Reexamination Certificate
active
07660765
ABSTRACT:
The method and system of the invention provide a variety of techniques for processing a microtransaction, wherein the microtransaction is a low monetary amount. In accordance with the invention, the method starts with a customer initiating a purchase through interaction with a merchant. The purchase is associated with purchase information, which includes the particulars of the purchase, such as the purchase price. In the purchase, the customer uses a transaction account, obtained from a payment enabler. The merchant submits the purchase information for processing of the purchase information. Thereafter, the purchase is classified as a microtransaction, if the purchase price is below a predetermined monetary amount. Thereafter, the purchase information is forwarded for processing based on the classifying, i.e., as a result of the purchase being classified as a microtransaction. Then, upon receipt of the purchase information by an appropriate recipient, such as an interchange entity or an alternate interchange entity, the purchase information is processed to effect the microtransaction between the customer and the merchant.
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Visa & Carnegie Mellow
Knackstedt Lee
Sheehan Mark
Wallace William
Cheung Mary
Goodwin & Procter LLP
JPMorgan Chase Bank N.A.
Nguyen Tien C
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