System for inexpensively executing online purchases

Details System for inexpensively executing online purchases System for inexpensively executing online purchases

2006-08-15

2006-08-15

James, Trammell (Department: 3621)

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

Business processing using cryptography

Secure transaction

C705S026640, C705S027200, C705S037000, C705S035000, C705S039000, C705S080000, C709S219000

Reexamination Certificate

active

07092913

ABSTRACT:
The present invention is a system for making online purchases using electronic funds transfers from the buyers' bank account to the vendor's bank account, enabled by an intermediate funds transfer from the buyer's account to a holding account maintained by the buyer's bank or a third party. The system is further enabled by the buyer's bank acting as a portal to the Internet that pre-authenticates buyers, enforces security, and speeds the execution of online transactions.

REFERENCES:
patent: 5220501 (1993-06-01), Lawlor et al.
patent: 6202054 (2001-03-01), Lawlor et al.
patent: 6594647 (2003-07-01), Randle et al.
patent: 2002/0052853 (2002-05-01), Munoz
patent: 03284574 (1993-05-01), None
Bowen, Cathy, Behind the Spree in Payments for C2C Apr. 2000, v13, n1, p28.

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