System for transaction over communication network

Details System for transaction over communication network System for transaction over communication network

1998-04-14

2000-06-20

Trammell, James P.

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

Automated electrical financial or business practice or...

Finance

235380, 380 24, 380 30, 705 12, 705 44, 705 39, 705 41, G06F 1760

Patent

active

060789026

ABSTRACT:
A method for conducting transaction between first user and a remote second user interlinked through a communication network, by utilizing also a clearing office interlinked to the network. The clearing office storing the user privileged information. The method including the steps of the user and the clearing office establishing a cryptographic secured session, the user transmitting, via the session, a user privileged information and transaction specific data, the transaction specific data being indicative of a transaction identification data. The clearing office activating transaction validity checking procedure by utilizing a user privileged information and the transaction specific data. In response to affirmative result of the transaction validity checking, the clearing office producing a transaction validity indication being indicative of the transaction identification code. The clearing office and the user establishing a communication session and the clearing office transmitting, via the session, the transaction validity indication.

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