Computerized payment system for purchasing goods and services on the internet

Patent 5757917 Issued on May 26, 1998. Estimated Expiration Date:

November 1, 2015. Estimated Expiration Date is calculated based on simple USPTO term provisions. It does not account for terminal disclaimers, term adjustments, failure to pay maintenance fees, or other factors which might affect the term of a patent.

Abstract Claims Description Full Text

Patent References

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Inventors

Assignee

First Virtual Holdings Incorporated

Application

No. 548305 filed on 11/01/1995

US Classes:

705/79, Including a payment switch or gateway705/26, Electronic shopping (e.g., remote ordering)705/39, Including funds transfer or credit transaction705/78Including third party

Examiners

Primary: Tarcza, Thomas H.
Assistant: Laufer, Pinchus M.

Attorney, Agent or Firm

Brinks Hofer Gilson & Lione

International Classes

H04R 009/00
G06F 017/60

Abstract

A method and system for use on a quasi-public network, such as the Internet, to enable users of the network to conduct commercial transactions involving a payment of funds by one user to another user of the network. The method includes operating a computer system for sending and receiving messages from users over the network. Upon receiving a message over the network from a qualified user-seller, a message is sent over the network to the user-buyer that was identified in the message from the user-seller. The message to the user-buyer requests confirmation of a transaction identified in the message received from the user-seller. Upon receiving a confirmation over the network from the user-buyer, payment information is sent by secure channels off the network to an agent of the user-seller. The user-seller's agent may be a separate entity or the function of the user-seller's agent may be performed by the transaction enabling system. Upon receipt of an authorization code from the seller's agent, the authorization code is encrypted and sent to the user-seller over the network.

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