System and method for processing microtransactions

Details System and method for processing microtransactions System and method for processing microtransactions

2009-07-27

2011-11-22

Weisberger, Richard C (Department: 3693)

Data processing: financial, business practice, management, or co

Automated electrical financial or business practice or...

Finance

Reexamination Certificate

active

08065228

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.

REFERENCES:
U.S. Appl. No. 60/306,257, filed Jul. 18, 2001, Rivest et al.
U.S. Appl. No. 60/344,205, filed Dec. 26, 2001, Rivest et al.
U.S. Appl. No. 60/287,251, filed Apr. 27, 2001, Rivest et al.

Affiliated with

Also associated with

Rating

System and method for processing microtransactions does not yet have a rating. At this time, there are no reviews or comments for this patent.

If you have personal experience with System and method for processing microtransactions, we encourage you to share that experience with our LandOfFree.com community. Your opinion is very important and System and method for processing microtransactions will most certainly appreciate the feedback.

Rate now

Comments { 0 }

Profile ID: LFUS-PAI-O-4278704