WO2002013148A2 - Financial payment system and method - Google Patents
Financial payment system and method Download PDFInfo
- Publication number
- WO2002013148A2 WO2002013148A2 PCT/GB2001/002940 GB0102940W WO0213148A2 WO 2002013148 A2 WO2002013148 A2 WO 2002013148A2 GB 0102940 W GB0102940 W GB 0102940W WO 0213148 A2 WO0213148 A2 WO 0213148A2
- Authority
- WO
- WIPO (PCT)
- Prior art keywords
- services
- user
- goods
- account provider
- retailer
- Prior art date
Links
Classifications
-
- G—PHYSICS
- G06—COMPUTING; CALCULATING OR COUNTING
- G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
- G06Q20/00—Payment architectures, schemes or protocols
- G06Q20/02—Payment architectures, schemes or protocols involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
-
- G—PHYSICS
- G06—COMPUTING; CALCULATING OR COUNTING
- G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
- G06Q20/00—Payment architectures, schemes or protocols
- G06Q20/04—Payment circuits
-
- G—PHYSICS
- G06—COMPUTING; CALCULATING OR COUNTING
- G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
- G06Q20/00—Payment architectures, schemes or protocols
- G06Q20/08—Payment architectures
- G06Q20/12—Payment architectures specially adapted for electronic shopping systems
Definitions
- the invention relates to a financial payment system for use with the Internet and a method of purchasing goods or services on the Internet .
- a financial payment system for use with the Internet comprises an account provider for administering a number of user accounts, each of which records a respective credit amount available for purchasing goods or services, the account provider being accessible by users via a web portal, and wherein the account provider includes means to allow a user to access a goods or services retailer via the web portal, and to permit the purchase of goods or services if the value of those goods or services does not exceed the user ' s credit amount .
- a method of purchasing goods or services on the Internet comprises administering a number of user accounts each of which records a respective credit amount available for purchasing goods or services, providing a web portal to enable user to access goods or services retailers via the web portal, and monitoring the web portal so as to permit the purchase of goods or services if the value of those goods or services does not exceed the user's credit amount.
- the account provider is able to authorise payments by confirming that the payment does not exceed the amount in the user accounts, which simplifies the authorisation procedure with retailers.
- the process is therefore faster, while users gain confidence in that they only need to provide secure details to the account provider when entering the web portal, and those details do not need to be passed on to other (typically unknown) third parties.
- the system can be operated in a number of different ways.
- the account provider is adapted to send an authorisation signal to the retailer, if the value of the goods or services does not exceed the user's credit amount, and to debit the user's account accordingly.
- the retailer can simply direct debit the amount from the account provider ' s bank account and he avoids the need to incur credit card charges and the like.
- this process will only be available to retailers who have agreed to operate within the account provider's system.
- An alternative approach or one which can be run in parallel, but which is suitable for use with retailers who are not members of the account provider's scheme, is for the account provider to send account provider bank or credit details to the retailer if the value of the goods or services does not exceed the user's credit amount, and to debit the user's account with the value accordingly.
- the retailer effectively deals with the account provider's bank or credit card organisation and not the user's. He is therefore assured that the request for payment will be met.
- a retailer requests credit card information
- a similar approach could be adopted in the present case, but preferably the account provider is adapted not to transmit the bank or credit details to the user. This avoids users becoming aware of details of the account provider's bank or credit details.
- the advantage of the second approach is that the retailer does not need to implement special procedures to obtain payment, but simply implements his normal credit card payment system.
- the account provider will not allow payments which exceed the amount currently stored in the user's account. This provides a necessary reassurance to retailers and indeed to the account provider.
- the supply of funds to the account provider by users can be achieved in a variety of ways . These include bank transfers, on-line payments via credit cards or the like or the supply of funds to local agents who then contact the account provider with the details. These local agents could be human agents or fully automatic currency acceptors which can identify and authenticate currency and provide the necessary details to the account provider. A particular method for making funds immediately available to a user is described in our co-pending British patent application number 0012995.7.
- FIG. 1 is a block, schematic diagram of the system.
- Figure 1 illustrates the Internet 1, which is connected to an account provider 2, a number of retailers 3A, 3B, 3C and to a funds supply agent 4. A user or purchaser is shown at 5. Of course, there will be many retailers, many agents and many users in practice.
- the account provider 2 comprises a processor 6, which sets up in a store 7 a number of user accounts 8, each of which records funds which have been supplied by a respective user and are available for purchasing goods or services .
- Funds can be supplied in a variety of ways as mentioned above.
- the user supplies funds in the form of currency to an agent 4 who sends a message, in this case via the Internet 1, to the account provider 6 advising the account provider of the funds received and the user supplying the funds .
- the account provider 6 then updates the appropriate account 8 accordingly.
- the account provider 6 When the user wishes to contact a retailer to purchase goods or services, he accesses the web site or web portal managed by the account provider 6 by entering the appropriate URL of the web site.
- the web site will ask the user to identify himself using a password in a conventional manner, and then will allow the user to enter the URL of a desired retailer.
- the account provider web site may allow browsing to be undertaken so as to locate a relevant retailer.
- the retailer web site Once the retailer web site has been located, this will be displayed in a conventional manner on the user's screen and he can view the retailer web site and select goods or services for purchase. When he indicates that the goods or services are to be purchased, this indication is monitored by the account provider 6 since it will pass through the account provider web site, and the account provider can check whether the total value required for payment falls within the currently held credit amount in the appropriate account 8.
- the account provider 6 will intervene in the transmission from the user 5, and instead transmit an authorisation signal of a special form to the retailer 3A, which the retailer will recognise as indicating the special payment process which is to be adopted.
- the retailer 3A will then dispatch the goods or services and in a later transaction direct debit the account provider's bank account .
- the account provider 6 will decrement the amount recorded in the account 8 by the transaction amount .
- this request will be intercepted by the account provider 6, who will then provide the account provider's credit card details to the retailer. This will be a direct communication with the retailer and will not be copied to the user. The retailer will then be paid in the usual way by the credit card company.
- the account provider 6 will debit the appropriate user account 8 by the same amount.
- the account provider 6 may utilise more than one credit card number in order to reduce the risk of fraud.
Landscapes
- Business, Economics & Management (AREA)
- Accounting & Taxation (AREA)
- Engineering & Computer Science (AREA)
- Strategic Management (AREA)
- Physics & Mathematics (AREA)
- General Business, Economics & Management (AREA)
- General Physics & Mathematics (AREA)
- Theoretical Computer Science (AREA)
- Finance (AREA)
- Computer Security & Cryptography (AREA)
- Financial Or Insurance-Related Operations Such As Payment And Settlement (AREA)
Abstract
Description
Claims
Priority Applications (1)
Application Number | Priority Date | Filing Date | Title |
---|---|---|---|
AU2001266227A AU2001266227A1 (en) | 2000-08-07 | 2001-07-03 | Financial payment system and method |
Applications Claiming Priority (2)
Application Number | Priority Date | Filing Date | Title |
---|---|---|---|
GB0019356A GB2365559A (en) | 2000-08-07 | 2000-08-07 | Financial payment system and method for internet transactions |
GB0019356.5 | 2000-08-07 |
Publications (2)
Publication Number | Publication Date |
---|---|
WO2002013148A2 true WO2002013148A2 (en) | 2002-02-14 |
WO2002013148A3 WO2002013148A3 (en) | 2002-05-16 |
Family
ID=9897133
Family Applications (1)
Application Number | Title | Priority Date | Filing Date |
---|---|---|---|
PCT/GB2001/002940 WO2002013148A2 (en) | 2000-08-07 | 2001-07-03 | Financial payment system and method |
Country Status (3)
Country | Link |
---|---|
AU (1) | AU2001266227A1 (en) |
GB (1) | GB2365559A (en) |
WO (1) | WO2002013148A2 (en) |
Cited By (3)
Publication number | Priority date | Publication date | Assignee | Title |
---|---|---|---|---|
WO2003071464A1 (en) * | 2002-02-19 | 2003-08-28 | Tds Todos Data System Ab | Electronic micro payment system |
WO2003107227A2 (en) * | 2002-06-12 | 2003-12-24 | Erik Stener Faerch | Method and system for secure electronic purchase transactions |
US6978270B1 (en) * | 2001-11-16 | 2005-12-20 | Ncr Corporation | System and method for capturing and storing operational data concerning an internet service provider's (ISP) operational environment and customer web browsing habits |
Families Citing this family (1)
Publication number | Priority date | Publication date | Assignee | Title |
---|---|---|---|---|
GB2379044A (en) * | 2001-08-23 | 2003-02-26 | Electrocomponents Plc | Electronic procurement system |
Citations (4)
Publication number | Priority date | Publication date | Assignee | Title |
---|---|---|---|---|
EP0725376A2 (en) * | 1995-02-06 | 1996-08-07 | Sony Corporation | Charging method and charging system in interactive on-line service |
WO1997019414A1 (en) * | 1995-11-21 | 1997-05-29 | Oxford Media Pty. Ltd. | Computer network value payment system |
US5826241A (en) * | 1994-09-16 | 1998-10-20 | First Virtual Holdings Incorporated | Computerized system for making payments and authenticating transactions over the internet |
WO1999024921A2 (en) * | 1997-11-07 | 1999-05-20 | Telia Ab (Publ) | Improvements in, or relating to, electronic payment systems |
Family Cites Families (4)
Publication number | Priority date | Publication date | Assignee | Title |
---|---|---|---|---|
FR2733068B1 (en) * | 1995-04-14 | 1997-07-04 | G C Tech | ELECTRONIC PAYMENT METHOD FOR PERFORMING TRANSACTIONS RELATED TO THE PURCHASE OF GOODS ON A COMPUTER NETWORK |
US6282522B1 (en) * | 1997-04-30 | 2001-08-28 | Visa International Service Association | Internet payment system using smart card |
WO2000017796A1 (en) * | 1998-09-18 | 2000-03-30 | James Joseph Boyle | A system and method for providing e-commerce access to an internet website |
US6609113B1 (en) * | 1999-05-03 | 2003-08-19 | The Chase Manhattan Bank | Method and system for processing internet payments using the electronic funds transfer network |
-
2000
- 2000-08-07 GB GB0019356A patent/GB2365559A/en not_active Withdrawn
-
2001
- 2001-07-03 WO PCT/GB2001/002940 patent/WO2002013148A2/en active Application Filing
- 2001-07-03 AU AU2001266227A patent/AU2001266227A1/en not_active Abandoned
Patent Citations (4)
Publication number | Priority date | Publication date | Assignee | Title |
---|---|---|---|---|
US5826241A (en) * | 1994-09-16 | 1998-10-20 | First Virtual Holdings Incorporated | Computerized system for making payments and authenticating transactions over the internet |
EP0725376A2 (en) * | 1995-02-06 | 1996-08-07 | Sony Corporation | Charging method and charging system in interactive on-line service |
WO1997019414A1 (en) * | 1995-11-21 | 1997-05-29 | Oxford Media Pty. Ltd. | Computer network value payment system |
WO1999024921A2 (en) * | 1997-11-07 | 1999-05-20 | Telia Ab (Publ) | Improvements in, or relating to, electronic payment systems |
Non-Patent Citations (1)
Title |
---|
SIRBU M ET AL: "NETBILL: AN INTERNET COMMERCE SYSTEM OPTIMIZED FOR NETWORK- DELIVERED SERVICES" IEEE PERSONAL COMMUNICATIONS, IEEE COMMUNICATIONS SOCIETY, US, vol. 2, no. 4, 1 August 1995 (1995-08-01), pages 34-39, XP000517588 ISSN: 1070-9916 * |
Cited By (4)
Publication number | Priority date | Publication date | Assignee | Title |
---|---|---|---|---|
US6978270B1 (en) * | 2001-11-16 | 2005-12-20 | Ncr Corporation | System and method for capturing and storing operational data concerning an internet service provider's (ISP) operational environment and customer web browsing habits |
WO2003071464A1 (en) * | 2002-02-19 | 2003-08-28 | Tds Todos Data System Ab | Electronic micro payment system |
WO2003107227A2 (en) * | 2002-06-12 | 2003-12-24 | Erik Stener Faerch | Method and system for secure electronic purchase transactions |
WO2003107227A3 (en) * | 2002-06-12 | 2004-03-18 | Erik Stener Faerch | Method and system for secure electronic transactions using an agent |
Also Published As
Publication number | Publication date |
---|---|
AU2001266227A1 (en) | 2002-02-18 |
GB0019356D0 (en) | 2000-09-27 |
WO2002013148A3 (en) | 2002-05-16 |
GB2365559A (en) | 2002-02-20 |
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