Consolidated payment account system and method

The present invention provides a system and method for providing and/or facilitating complete on-line payment services while protecting the privacy of the transaction participants. The comprehensive payment service is based upon a consolidated account used to store value acquired through on-line tra...

Ausführliche Beschreibung

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Bibliographische Detailangaben
Hauptverfasser:	SWEET LEAH M, FEHLHABER JEFF, FITZGERALD GABRIELLA P, NEEMAN TREY, WHITE DIRK, HUSSAIN SOHAIL, BRECK LYDIA C, ZOOB JESSICA, BISHOP FRED, GLAZER ELLIOTT, MITCHELL MARGARET C, ARMES DAVID
Format:	Patent
Sprache:	eng
Schlagworte:	CALCULATING COMPUTING COUNTING DATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FORADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORYOR FORECASTING PURPOSES PHYSICS SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE,COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTINGPURPOSES, NOT OTHERWISE PROVIDED FOR
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Beschreibung
Zusammenfassung:	The present invention provides a system and method for providing and/or facilitating complete on-line payment services while protecting the privacy of the transaction participants. The comprehensive payment service is based upon a consolidated account used to store value acquired through on-line transactions. The invention provides private payment numbers for protecting the identities of the participants and includes processes for authenticating participants, authorizing transactions, and settling payments. Thus, the present invention enables merchants to effectively accept non-standard forms of payment without changing their current payment infrastructures and enables the provision of value for purchases at any network merchant using any source of value.