WO2014072846A1

WO2014072846A1 - Electronic intermediary for secured escrow service. the trustedpayer system

Info

Publication number: WO2014072846A1
Application number: PCT/IB2013/058489
Authority: WO
Inventors: Idukpaye Ikponmwosa
Original assignee: Idukpaye Ikponmwosa
Priority date: 2012-11-09
Filing date: 2013-09-12
Publication date: 2014-05-15

Abstract

A system of electronic intermediary for a secured escrow service hereinafter referred to as the TrustedPayer' system is described. Transaction information between the seller and the buyer from the online marketplace application is received. Transaction information is encoded into fractions of encrypted purchase codes (with varying degree of complexity as buyer and/or seller requires) that is simultaneously sent to the buyer and the seller in one instance or created by buyer, seller and/ or any other Transaction StakeHolder (TSH) seller in other instances. A Teller Manager Module provides collection and payment for the transaction and generates the transaction credentials for encoding the transaction into purchase codes. The Teller manager provides online real time report of transaction status from origination to completion. The messaging module communicates with the Teller module and the communications gateway to send and receive information related to the transaction from seller and buyer confirming delivery and receipt of the product or service. The cryptographic system validates and authenticates the transaction for the purpose of authorizing payments to the seller via the Teller manager module.

Description

Electronic Intermediary for Secured Escrow Service. °The TrustedPayer System"

DESCRIPTION

TECHNICAL FIELD

[01] This application relates generally to the field of computer technology, and in a specific example embodiment, a method and system for financial transaction, processing management and reconciliation with different payment processors and client

applications.

BACKGROUND

[02] Trust is an eminently expensive attribute to acquire and maintain today especially in societies where either poverty levels are high and there are problems with privacy , identity theft and advanced fee fraud or dishonesty is a prevalent situation for which consequences are usually borne by either the service provider or service requester. In third world countries in particular there are very few laws designed to protect the consumer from fraud during transactions thereby reducing the volume of trade entered into by discerning consumers and inadvertently leading to a decline in domestic output and GDP. This problem is even more serious for online business which is an emerging segment in the growth of commerce in developing countries.. Without a cover of assurance that their online transactions will culminate in a satisfactory outcome where the consumer is empowered by the system, Internet commerce will continue to experience slow growth in these countries and the development goals outlined in the millennium development framework of the United Nations will become difficult to actualize.

[03] While Internet business and trade has gained increasing popularity and attention in the last few years with increasing growth in the number of businesses doing trade transactions over the Internet. Our peculiar environment however continue to restrict the growth of online transactions below desired levels due to the inherent lack of trust in the system and insufficient infrastructure for e-commerce in the country.

Buyers view Internet transactions with skepticism regarding the certainty of delivery of the product orders, sincerity of the seller and integrity of the website offering the purchasing services. In on-line financial transactions, buyers may use third-party payment service providers such as banks and cards systems to make purchases online. Payments may be made using credit card payments systems, electronic bank transfers, or other payment techniques offered by third-party payment providers. However while all of these channels may offer secured services for transferring funds and making payments, they do not offer security and integrity to the transaction, neither do they provide the buyer with product or delivery certainty for the particular purchases made. They also do not provide the seller with certainty of payment as well In other words these systems do not give the buyer or seller full confidence over the process or reduce risk of transaction failure by 100%.

[04] The TrustedPayer system and method is an invention specifically designed to solve this unique trust problem of the buyer and seller. It involves the buyer transferring money to an account held by the subscriber to the service with the buyer having the "key' to releasing the funds to the seller when he has delivered on the purchase as promised and agreed by both seller and buyer: TrustedPayer being an impartial intermediary.

[05] With the TrustedPayer system, on-line financial transactions will be completed more efficiently and with 100% confidence. The seller would view the TrustedPayer subscriber as a more serious purchaser and is assured that the monies for the product is ready while the buyer will be rest assured that his money is safe and that his purchase is assured for delivery. It solves the problem of carrying cash around to purchase goods which is very risky.

In some developing countries in Africa, present internet businesses require payment on delivery which is an unsustainable method of completing transactions - not only is it a risky and inefficient method it is patently unsafe and presents huge and costly cash handling challenges especially in the cashless regime where payment limits attract huge penalties when breached. TrustedPayer system will remove this hurdle from both the buyer and customer paths in effecting a purchase or transaction.

[06] This invention seeks to automate the traditional system of preserving trust in our society which is the use of a trusted and well respected intermediary to referee the basic commercial transaction ensuring that every party ends up satisfied and paid for their service or good. This method is known as escrow. This invention will bring business to the level of the common man by provide them with the intermediary that ensures that on whichever side they are buyer or seller they will be protected and will get their transactions fulfilled with the least trouble or fear of loss of leverage.

BRIEF DESCRIPTION OF THE DRAWINGS

[07] The present invention is illustrated by way of example, and not by way of limitation, in the figures of the accompanying drawings in which:

[09] FIG. 1 is a block diagram illustrating an example embodiment of a logic flow illustrating an operation of an escrow management system;

[08] FIG. 2 is a network diagram depicting a network system, according to one embodiment, having a client-server architecture configured for exchanging data over a network;

[011] FIG. 3 is a block diagram illustrating an example embodiment of a Teller manager module;

[010] FIG. 4 is a block diagram illustrating an example embodiment of a TrustedPayer system management module;

[011] FIG. 5 is a network diagram depicting a network system, according to one embodiment, having a system architecture configured for exchanging data over a network; and in another embodiment illustrating the operation of transactions origination and code generation. [012] FIG. 6 shows a diagrammatic representation of machine in the example form of a computer system within which a set of instructions may be executed to cause the machine to perform any one or more of the methodologies discussed herein;

[012a] Fig 7 shows a diagrammatic logic-flow representation of machine in the example form of a computer system within which a set of instructions may be executed to cause the machine to perform any one or more of the methodologies discussed herein

[012b] Fig 8 shows a diagrammatic transaction status completion logic-flow

representation of machine in the example form of a computer system within which a set of instructions may be executed to cause the machine to perform any one or more of the methodologies discussed herein

SUMMARY

[013]In multiple embodiments a system of electronic intermediary for a secured escrow service hereinafter referred to as the TrustedPayer' system is described. Transaction information is encoded into a multiple part purchase code that is simultaneously sent to the buyer and the seller to guarantee the integrity of the transaction and ensure that the buyer is protected from fraud and unnecessary delay as the monies are held in a system that the seller will only have access to when he delivers on the transaction. This process and system guarantees the protection of all parties involved in the ecosystem; generates, and preserves trust in the system. The code becomes the currency of the transaction until the transaction is brought to a closure once every party has played their part honestly and according to fair rules of the ecosystem.

DETAILED DESCRIPTION

[014] Although the present invention has been described with reference to specific example embodiments, it will be evident that various modifications and changes may be made to these embodiments without departing from the broader spirit and scope of the invention. Consequently, the specification and drawings are to be regarded in an illustrative rather than a restrictive sense.

[015]In fig 4, in various embodiments, a system of electronic intermediary for a secured escrow service hereinafter referred to as the 'TrustedPayer' system 104 is described. In a five staged business process and three partakers' ecosystem, a secured TrustedPayer system 104 comprising of a Teller Manager module 300; a client interface 402, an online market interface 116, a messaging module 416 and a payment gateway interface 414, a cryptographic module 410 and a communications gateway 412; (a) the client interface 402 communicates with a seller 114 and buyerll2 application. (b)The online market interface 116 receives information of transaction between a seller 114 and a buyer 112 from the online market 116 application for the purpose of making payment, (c) The Teller manager module 300 provides collection, payment and transactions management functionality for the transaction, (d) The Teller manager module 300 transforms the particulars of the transaction into structured credentials for the cryptographic system 410 in real time, (e) The Teller manager module 300 also communicates with the messaging module 416 in real time for the purpose of communicating with the buyer 112 and seller 114 for any particular transaction, (f) The Teller manager module 300 provides real time balance interface with the seller or buyer of the transaction, (g) The Teller manager module 300 also communicates with the transaction balance module 310 to ensure that there is up to date balance of accounts in the system to ensure that outstanding transactions are brought to closure, (h) The payment gateway integration module 306 interface communicates payment information with a payment gateway 414. (I) the payment gateway integration module 306 also communicates information with financial systems associated with the seller 114, and the buyer 112, and reconciles all outstanding transfer transactions as directed by the Teller manager module 300. (j) The

communications gateway 412 interacts with the messaging module 416 and third-party communications gateway 412 to deliver transaction prompts and structured messages to and from the customer to the TnistedPayer system 104.

[016] Fig 1 is an example embodiment of a logic flow diagram of the TnistedPayer system 104 containing the TnistedPayer system 104 which communicates with the buyer 112 and seller 114 client in the online market place 116 receiving transaction information. The buyer 112 and seller 114 partake in the online market 116, via a plurality of mediums 108 comprising of web client interfaces, mobile phones and other mediums including point of sale terminals. The TnistedPayer 104 having received transaction information from the online market 116 interface communicates with a payment gateway 108 particular to the choice or location of the seller or buyer account comprising of bank systems, cards systems, mobile wallets and other mediums with a payment gateway interactivity. The TrustedPayer system 104 also handles reconciliation activities arising from payments activities by communicating with the payments gateway 108 of the seller 114 or buyer 112; TrustedPayer system 104 provides exception handling mechanisms 102 to deal with transaction exceptions such as refunds, rejections and lack of buyer confirmation codes after the allowed time. TrustedPayer 104 will provide a toolkit 118 interface for the subscribed customer (buyer or seller) to enable them to manage their transactions and accounts; react to transaction message prompts from the TrustedPayer 104 Teller manager module 300 including insufficient funding, inaccurate confirmation codes and inaccurate payment information.

[017] FIG. 2 depicts a network system 200, according to one embodiment, comprising a client-server architecture designed to communicate and exchange data over a network via a plurality of devices 202. This network system 200 has capacity for publishing, advertising, trade and speculative business functions allowing clients to communicate and exchange data on the system for the purpose of conducting online transactions on the TrustedPayer system 104. The network system shall comprise of various other communication environments including distributed network and peer to peer. [018] In one embodiment the network system 200 provides a web application interface 210 for enabling seamless integration of client side applications with the server side application. The web interface 210 will provide enabling APIs to facilitate

communication comprising purchasing information from the online market 116, interacting with buyer 112 side and seller 114 side payment gateways 306 and 3^rd party associations. This will be communicated via a plurality of user input tools such as mobile apps, Web-Pages and toolbars 108 associated with user requested add-ons and extensions.

[019] A data exchange platform 220, comprising an integrated seller or online market application 212 and the TrustedPayer platform 104 application which is connect to a network 208 and provide server-side functionality to one or more clients embodied within the TrustedPayer ecosystem. The data exchange platform 220 shall enable the conduct of transactions comprising communicating and processing of data between the TrustedPayer platform 104 and the online market 212 with regards to user generated activities including but not limited to buyer 112 and seller 114 profiles; buyer 112 and seller 114 attributes; buyer experience reviews and feedback, products and services descriptions such as price, production, and after sales transaction data such as collection and payment, product delivery and insurance.

[020] In various embodiments communication flows across the system will more often be initiated by a plurality of client based interfaces particular to the user computing devices 202 comprising of mobile phones, PC, a financial transaction terminal, and a point of sale terminal amongst others. These computing devices will communicate with an online web 210 client which provides an interface to the online Market on the TrustedPayer platform 104. The client based interfaces will exist for any category of user on the system be it a buyer 112, seller 114 or a third party application which may or may not be affiliated with the TrustedPayer system 104

[021] Within the network system 200 sit an application server 220 which hosts the TrustedPayer 104 and online market/ integrated seller 212 applications. The application server 220 interacts with the web interface 210 in a programmable environment that includes database servers 216 which facilitate interaction with a plurality of databases 218 in the system

[022] In one embodiment the integrated seller 212 applications provides an index listing of sellers 114 and affiliated market places 212 whereby the buyer 112 or seller 114 can interchangeably buy or sell their products using available market tools to set pricing and initiate payment via the TrustedPayer platform 104. The TrustedPayer application 104 will facilitate purchase and sales transactions services including, collection, payment, refunds, etc. to its users that access the integrated seller /online market application 212. [023] In the network the TrustedPayer system 104 will: [024] Facilitate the conduct of end to end transactions between buyer 112 and seller 114 in the ecosystem [025] Provide tracking information on an online basis to the buyer 112 or seller 114 for the purpose of monitoring the transactions. [026] Enable funds collection from one or multiple buyers via payment gateways. [027] Enable automatic funds payment to one or multiple sellers via payment gateways 108. [028]Perform reconciliation between the online market seller 114 and the platform 104. [029]Perform preparation of transaction credentials for the generation of codes. [030]Enable the messaging system 416 to communicate with the communications gateways 412 as well as the buyer 112 and seller 114

[031] The TrustedPayer functionality shall include:[032] Track daily payments and transaction-breakdowns between buyers 112 and sellers 114. [033] Integrate with payment gateway 412 to perform real time payment authorization check for subscriber-fund availability. [034] Update transaction status to reflect current situation of

payment/ collection. [035] Support status changes resulting from activities (e.g. payments, Lien, refunds, delivery, reversals.) [036] Automate refund payments upon notice of refund approval. [037] Configurable funding-threshold to provide control, compliance and monitoring for collections and payments within a regulatory framework. [038] Identify incomplete transactions, incorrect details incorrect pricings and other exceptions. [039] Reconcile transaction details with Confirmation codes for transaction validation. [040] Validate and decrypt the purchase codes for confirming the validity of a buyer identity and location. [041] Validate and decrypt the purchase code to confirm the delivery of the product. [042] Validate and decrypt the purchase code to confirm the end of the transaction. [043] Validate and verify the code to identify buyer 112 and initiate payment to the seller 114. [044] Trigger the recording of financial activity at specific transaction status changes. [045] Aggregate financial transactions daily and monthly for reports. [046] Maintain transactions history and act as transaction sub-ledger. [047] Perform transaction matching to track cash reconciliation. [048] Generate purchase codes for both buyer and seller on each transaction purchase.

[049] FIG. 3 is a block diagram illustrating an example embodiment of a Teller manager module 300. The Teller manager module 300 includes a payment gateway integration module 306, a balance enquiry module 302, a transaction balance module 310, a transaction history module 312, a transaction status module 314, a collections module 308, a messaging module interface 316 and a refund module 304.

[050] The payment gateway integration module 306 communicates with the payment gateway 108 interface for a seller 114 payment authorization, a refund credit to the buyer, and a commissions or bonus payout. The refund module 304 initiates refunds associated with buyer 112 rejections as well as cancellations of orders arising from a dispute or seller default. The transaction balance module 310 tracks a balance of the transaction. The transaction history module 312 tracks a history of transactions. The balance enquiry module 302 tracks the balances of the buyer 112 and seller 114 after a transaction. The transaction status module 314 supports transaction status comprising a payment, a refund, and a lien. The collections module 308 communicates with the payment gateway interface 306 of the buyer's financial institution via web client interface 210.

[051] In Fig 5, In multiple embodiments the transaction origination process stage is described involving the origination by the buyer 112 of a purchase transaction on an online market where a seller 114 is a subscriber on the TrustedPayer ecosystem 100 accepting payments through the TrustedPayer system 104. The buyer 112 having selected items for purchase selects the TrustedPayer system 104 for payment; the TrustedPayer Teller manager 300 interface communicates with the buyer 112 client interface over the Internet network. The client interface may be hosted on a plurality of devices 202 including PC, mobile phones or point of sale terminal.

[052] The TrustedPayer system 104 is coupled to the online network 208 and communicates with the buyer 112 application interface through the Teller module 300. The buyer 112 makes his payments on the Teller interface of the TrustedPayer application 104; the Teller manager 300 accepts payments and commences the configuration of the transaction particulars including product name, buyer name and identification, price and others into a formatted credential. The TrustedPayer system 104 then communicates this data to the cryptographic system 410, in another embodiment which then encrypts the credentials into purchase codes that are split and sent to the buyer 112 and seller 114 via the messaging module 416 in another embodiment. The messaging, module 416 communicates with the communications gateway 412 to deliver the purchase code and transaction particulars securely to the buyer and seller simultaneously. The transaction particulars will contain full details of the buyer's order and time to delivery as promised by the seller at the online market.

[053] In Fig 6, In multiple embodiments the transaction mediation and completion stage is described involving the completion of the transaction between the buyer 112 and seller 114 by both the buyer 112 and seller 114 in the transaction. In an embodiment the communications gateway 412 communicates with secured servers of network providers to deliver the purchase codes to the buyer 112 and seller 114 client interface hosted on a plurality of client devices 202 having the capacity to read the message format including pc, mobile phones, etc. the seller 114 on receiving the purchase code and transaction particulars from the communications gateway 412 will set out to package the order for shipment. On shipment the seller 114 shall provide the shipper (where the shipper is not the seller 114: TrustedPayer 104 makes no differentiation between the seller 114 and the shipper) with the purchase code and the particulars of the transaction. When the product is delivered the shipper shall request for the purchase code of the buyer 112 which he shall merge with his seller 114 purchase code to confirm validity of the buyer 112 identity prior to releasing the product to the buyer 112. Confirmation shall be done via the communications gateway 412 according to a predefined method and process.

TrustedPayer 104 shall return a valid match via the messaging module 416 to the communications gateway 412 to the shipper and deem the product as delivered on a valid match of the purchase code by the authentication and encryption system 410 who communicates with the Teller module 300 to authenticate the credentials. The product will then be handed to the buyer 112 on the spot and the seller 114 will await payment. In an embodiment the Teller manager module 300 shall, on receipt of a valid report from the cryptographic module 410 send instructions to the messaging module 416 to prompt the buyer 112 to send in his merged purchase code to confirm receipt of product from the seller 114. The Teller manager 300 shall include a maximum duration allowable for confirmation of receipt in the message instructions while it initiates a clock countdown through the transaction history module 312 of the Teller manager module 300. On receipt and verification of the confirmation codes from the buyer 112 through the cryptographic module 410 the Teller manager 300 shall initiate the payment module 306 to post debit instructions to the buyer 112 account for the lien amount (inclusive of charges) for onward transfer to the seller 114 account via payment gateway 306 of the seller's 114 particular financial institution.

[047] FIG. 7 is a logic flow chart 700 of another embodiment of a method for the TrustedPayer management system illustrating the purchasing origination phase;

comprising of a payment gateway 108 which communicates with the marketplace application 212 of the seller via web interface 210 wherein the buyer 112 has indicated intent to make a purchase via the client interface on the online market 212 application and then proceeds to fund the account for the purpose of making a payment. Buyer 112 interacts with the collections module 308 via the payment gateway 108 and executes a transfer from his bank, or card system. The collections module 308 completes the collections process and communicates the deposit to the balance module 310 which reconciles the amount in customer account. Customer deposits are displayed via the balance module 310 interface while Teller module 300 collects the payment information from the balance module 310 of funds availability and liens the account for the transaction particulars. Teller manager module 300 shall then commence the restructuring of the transaction particulars into encrypt-able credentials for the cryptographic system 410 which parse credentials and generates algorithms for encoding and formatting the purchase codes. Once codes are ready the cryptographic module 410 shall communicate the codes to the Teller module 300 where the codes are matched to the transaction actors and then sent to the messaging module 310; the messaging module 416 will then contextualize the code into a message format and sends to the

communication gateway 412 where the subscribers' communication preferences are retrieved and message is sent to buyer 112 and customer 114.

[048] FIG. 8 is a flow chart 800 of another embodiment of a method for the

TrustedPayer management system 104 illustrating; transaction status management and completion flow: having the buyer 112 and seller 114 exchange codes on delivery when the buyer 112 account on TrustedPayer 104 platform is status-Liened. If codes are returned as valid by TrustedPayer 104 products will be delivered and transaction status will change to delivered-Prompt payment otherwise invalid response will return prompt to seller to request correct codes from buyer.

TrustedPayer messaging module 416 will await buyer 112 confirmation codes for an allowed duration after which lack of receipt will initiate final payment prompt from message module 416 upon which payment is automatically made by the Teller manager module 300. If buyer 112 confirmation arrives on time then the message is sent to the cryptographic module 416 where the authentication and encryption system 410 will decrypt and validate the code for correctness. On correctness Teller manager module 300 will then return the codes into payment credential and particulars for payment through the payment integration gateway 306.

Claims

Claims:

1. In an e-commerce ecosystem comprising of Subscribers (buyer, seller and Shipper) I claim:

A system of electronic intermediary for a secured escrow service hereinafter referred to as the 'TrustedPayer' system for facilitating payment between buyer and seller and shipper comprising of a TrustedPayer interface configured to communicate with a computing device of a seller and a computing device of a buyer, the buyer and seller being partakers in a transaction via an online market; a TrustedPayer Teller module interface configured to receive transaction information between the seller and the buyer from a plurality of online market applications; a TrustedPayer Tellering Module collections interface configured to receive a deposit transaction information associated with the transaction between the buyer and the seller in the online market; a cryptographic system configured to generate purchase codes for unique transactions occurring between buyer and seller in the online market; a

TrustedPayer Teller interface configured to communicate the transaction and delivery information to an online Teller module; a Teller manager module

configured to collect deposits from buyers and remit payment for the transaction in real time, providing real time account balance interface with the subscriber and a payment application module configured to communicate with a plurality of payment gateways, comprising of electronic and manual systems of financial institutions or financial services companies associated with the seller, buyer, and the shipper, for the purpose of originating , mediating and bringing the transaction to a closure between the buyer, seller and the shipper; a transaction history module configured to track transaction , record and regulate transaction turnaround and response time for buyer, seller and shipper for the purpose of remediation and preservation of the TrustedPayer transactions regulations agreed to by all parties; a communications gateway configured to send and receive transaction based information between TrustedPayer interface and the buyer or seller or shipper.

2. The TrustedPayer system of claim 1 further comprising of a TrustedPayer interface, registration module that accepts subscribers and subscriber registration via a plurality of devices such as cell phones, SMS, short-code sessions, online input and call centers and physical Teller modules and other media capable of carrying unique information returning a 'successful' or not successful registration message via secure pathways on a plurality of devices.

3. The TrustedPayer system of claim 2 further comprising a successful registration that is returned comprising the subscriber account number , subscribe identification number; subscriber type , subscription status via text message , email or voice mail whereby completion of the registration process shall be via online process through a verification link on the subscriber email box

4. The TrustedPayer system of claim 3 further comprising of subscriber type and

subscriber status wherein subscriber type shall reflect the annotation comprising of Buyer, Seller and shipper and subscriber status annotations comprising of member, Guest , Affiliate

5. The TrustedPayer system of claim 1 that keeps an index and database of sellers who sell products and provides this database via an Internet online market to the buyer or subscriber to choose for the purpose of shopping online through a directed link to the seller's online site or that of a third party online market on which the said seller vends his or her merchandise

6. The TrustedPayer system of claim 5 further comprising of a Logo design , a

trademark representing the TrustedPayer logo and trademark that will appear on the online page of the subscriber, buyer, seller as an active URL link option for payment whether it is the primary website of the seller or a third party online market website on which the seller merchandise is vended

7. The TrustedPayer platform system of claim 1 further comprising of a Teller manager module that accepts deposits to subscriber accounts for payments for goods and services or products via a plurality of electronic devices and channels comprising of bank transfer , mobile phones, scratch cards, remittances, vouchers as well as redeemable SMS credits.

8. The TrustedPayer platform system of claim 1 further comprising of a cryptographic system that preserves funds for payment of goods and services by a subscriber buyer in the form of encrypted cipher for the purpose that such funds be redeemed to a seller upon presentment of merged codes consisting entirely of a merger of buyer and seller purchase codes by the buyer via a plurality of devices to confirm that goods or services have been received and transaction is deemed completed.

9. The TrustedPayer platform system of claim 8 using plurality of means which

encrypts transaction data into split components of purchase codes that are used to validate , verify and confirm completion of transactions between the buyer, seller and shipper. 9b. Origination methods: first instance - TrustedPayer (TP) cryptographic system generates codes. 9c. Buyer, seller and/or Transaction StakeHolder (TSH) generates codes. 9d. TP cryptographic system, buyer, seller, and/or TSH generates codes. 9e. there are "n" combinations of TP cryptographic system, buyer, seller and/or TSH that can generate information codes (information instrument or currency or codes).

10. The TrustedPayer platform system of claim 8 wherein the cryptographic system

comprises; an electronic authentication and validation system that converts electronic money from buyer into encrypted currency redeemable by seller only on the verification and identification of merged codes through a process of decryption by the electronic authentication system

11. The TrustedPayer system of claim 10 further comprising of a code generator module that generates encrypted purchase codes in real time to both buyer and seller and/or TSH on the payment of monies for a sale to the Teller manager module for the purpose that such monies be redeemed to a seller upon presentment of merged codes consisting entirely of a merger of buyer and seller purchase codes or any other TSH codes utilized in the transaction by the buyer via a plurality of devices to confirm that goods or services have been received and transaction is deemed completed. 1 lb. The TrastedPayer system of claim 10 further comprising a Cryptographic (CPG) system that handles purchase codes in real time from other origination routes as mentioned in claims 9c-9e.

12. The TrastedPayer system of claim 11 wherein the code generator module generate a secure purchase code to the subscriber buyer representing the particulars of the said buyer's transaction on the TrastedPayer payment platform

13. The TrastedPayer system of claim 11 wherein the code generator module generate a secure purchase code to the subscriber seller representing the particulars of the said buyer's transaction on the TrastedPayer payment platform. 13b. The TrastedPayer system of claim 11 wherein the code generator module generate a secure purchase code to the subscriber TSH (as buyer could have a preferred shipper and decides to increase transaction security as a premium service by an extra codes - TSH code) representing the particulars of the said buyer's transaction on the TrastedPayer payment platform.

14. The TrastedPayer system of claim 11, wherein the secure purchase code is an audio or text message, a sequence of symbols, or a picture or any other information instrument/currency capable of encoding and transferring unique/discrete information

15. The TrastedPayer system of claim 12, wherein the secure purchase code is unique to each buyer.

16. The TrastedPayer system of claim 13, wherein the secure purchase code is unique to each seller. 16b. The TrastedPayer system of claim 13, wherein the secure purchase code is unique to each TSH.

17. The TrastedPayer system of claim 11, wherein the secure purchase code is unique to each good and product

18. The TrastedPayer system of claim 11, wherein the secure purchase code is unique to each transaction

19. The TrastedPayer system of claim 11 and l ib having; code generator module to generate the fractions (2, 3, 4,....n^h number of divisions) of the secure purchase code to buyer and seller and/or TSH (or various TSH generates unique codes in the origination phase) representing particulars of the said transaction entered into as a result of the purchase request and payment made by the buyer on the Teller module of the TrastedPayer platform

20. The TrastedPayer system of claim 11 where in the purchase code becomes the

currency of the transaction for buyer and seller and shipper and any other TSH until the buyer and seller and shipper and any other TSH confirm the transaction is completed by a merger of the purchase codes

21. The TrastedPayer system of claim 8 comprising; An electronic Authentication

system and Teller module to authenticate and validate the combined encrypted purchase codes of the buyer and seller in order to decrypt and reveal the transaction amount and identification for the purpose of making payment to the seller and closing the deal.

22. The TrastedPayer system of claim 8 comprising ; An electronic authentication system to authenticate and validate the combined encrypted purchase codes of the buyer and seller in order to decrypt and reveal the transaction identification and number for the purpose of verifying and matching the buyer and seller to the said transaction.

23. The TrastedPayer system of claim 7 having; a Teller manager module to remit

payment to shipper only on receipt of shipper/seller (where seller may outsource shipment) delivery code which must be same as the merged code of seller and buyer confirming that product was delivered to buyer by shipper as transacted.

24. The TrastedPayer system of claim 7 wherein the Teller manager module is configured to collect deposits from buyers and remit payment for the transaction in real time, providing real time account balance interface with the subscriber and a payment application module configured to communicate with a plurality of payment and collections gateways, comprising of electronic and manual systems of financial institutions or financial services companies associated with the seller and the buyer, for the purpose of originating, mediating and bringing the transaction to a closure between the buyer, seller, shipper, and any other Transaction StakeHolder (TSH)

25. The TrastedPayer system of claim 1 wherein the Teller manager module comprises; payment and collections gateways, comprising of electronic and manual systems of financial institutions or financial services companies associated with the seller, buyer, and the shipper, for the purpose of originating , mediating and bringing the transaction to a closure between the buyer, seller, shipper, and any other TSH

26. The TrastedPayer system of claim 1 comprising of a transaction history module

configured to track transaction, record and regulate transaction turnaround and response time for buyer, seller and shipper, and any other TSH for the purpose of remediation, online surveillance, system quality improvements and preservation of the TrastedPayer transactions regulations agreed to by all subscribers.

27. The TrastedPayer system of claim 26 further comprising; an electronic clock counter, a global tracking and positioning tool within the transaction history module (possible IP address documentation).

28. The TrastedPayer system of claim 1 comprising of a communications gateway

configured to send and receive secure transaction based information between

TrastedPayer interface and the buyer or seller or shipper or any other TSH.

29. The TrastedPayer system of claim 1, wherein the Teller manager module executes instructions to transfer the monies deposited by the buyer or subscriber into the buyer's TrastedPayer account via a payment gateway for an uncompleted

transaction.

30. The TrastedPayer system of claim 1, wherein the Teller manager module executes instructions to notify the buyer when monies are transferred to the account of the seller after receipt and authentication of merged confirmation code for the purpose of closing the deal.

31. The TrastedPayer system of claim 19, wherein the Teller manager module receives transaction information and particulars and converts them into credentials formatted for encoding by the code generator of the cryptographic system.

32. The TrastedPayer system of claim 1 , whereby payment for goods or service made by the buyer to seller on the TrastedPayer platform shall only be made to seller on the presentment through a plurality of platforms and devices of a confirmation code of receipt to the TrastedPayer platform for authentication and validation of the said transaction being completed between the seller and the buyer culminated by the act of exchange of purchase codes between buyer and seller or buyer and shipper (where seller is represented by shipper) whereby these encrypted codes must have been validly received or generated from the TrastedPayer platform by both seller and buyer upon purchase of the goods or service by the buyer on the TrastedPayer platform and authenticated as such by a process of advanced encryption and decryption to reveal a match with the central TrastedPayer mastercode to confirm agreement between buyer and seller for transaction amount, serial number and code for the purpose of remitting payment to the seller via a plurality of channels for goods and services sold initially originated of the steps of (1). Registration; (2)

origination;(3) mediation ;(4) delivery;(5) remediation ;(6) closure .

33. The TrastedPayer system of claim 32, further comprising; Teller manager module; advanced encryption and decryption of purchase codes; whereby these encrypted codes must have been validly received or generated from the TrastedPayer system by both seller and buyer upon purchase of the goods or service by the buyer on the TrastedPayer platform and authenticated as such by a process of advanced encryption and decryption to reveal a match with the central TrastedPayer mastercode to confirm agreement between buyer and seller for transaction amount, serial number and code for the purpose of remitting payment to the seller via a plurality of channels for goods and services sold initially originated of multiple steps of (1) registration of buyer or seller as subscribers to the service via a plurality of secured channels and devices comprising of SMS , Short Code service, call center, ATM, Physical Teller point of sale, and an online application channel, (2)

Origination of transaction by buyer via a plurality of secured platforms and channels comprising of online web page , ATM terminal , call center and physical Teller point of sale whereby buyer deposits money for purchase via a plurality of channels provided on the TrastedPayer platform comprising of bank transfers, remittances

, cards .mobile phone into his TrastedPayer account for the payment of

predetermined choice of good or service from selected seller or in anticipation of a purchase to be made at the buyer's choice of time, whereas the said amount shall be displayed as received deposit balance on the buyer/subscribers account page within TrastedPayer online platform and database, (3) mediation by TrastedPayer between the seller and buyer and shipper (if necessary) for the purpose of transmitting buyer purchase and payment request to seller and transforming the transaction information into encrypted purchase code which is split and sent to both buyer and seller or generated by buyer, and/or seller and/or any other stakeholder at the origination stage to be merged on conclusion of transaction by both seller and buyer to effect payment for goods and services rendered whereas the purchase code therefore represents the currency of the ecosystem coterminous with payment to any of the actors in the value chain and resolved by the TrustedPayer Teller module, (4) delivery of good or service purchased by buyer from seller by payment via

TrustedPayer system Teller manager module and shipped via a shipper designated by the seller (or buyer) upon receipt of the encrypted purchase code and transmission of same encrypted code to the shipper via plurality of means for the purpose of ensuring delivery and exchange of the seller purchase code with the buyer purchase code on delivery which shall then be merged together by the shipper and sent to the

TrustedPayer platform and seller via plurality of devices to confirm delivery of said good or service and buyer identity and receive payment from seller for shipment of good or service to the customer, (5) remediation of issues from a plurality of possible scenarios resulting from the sale comprising of buyer disagreement, seller default (6) closure of the transaction by TrustedPayer sending buyer and seller invoice and receipt notices by a plurality of means and devices whereby each of buyer , seller and shipper confirms to have received the good or service , payment for good or service rendered and payment for delivery or shipment of said good or service purchased.

34. The computer implemented method comprising; TrustedPayer interface configured to communicate with a computing device of a seller and a computing device of a buyer, the buyer and seller being partakers in a transaction on an online market portal via a plurality of client interfaces; a TrustedPayer Teller module interface configured to receive transaction information between the seller and the buyer from a plurality of online market portals ; a TrustedPayer Tellering module configured to receive a deposit transaction information associated with the transaction between the buyer and the seller in the online market via a plurality of online market interfaces; a cryptographic system configured to generate purchase codes for unique transactions occurring between buyer and seller in the online market; a TrustedPayer Teller interface configured to communicate the transaction and delivery information to an online Teller module; a Teller manager module configured to collect deposits from buyers and remit payment for the transaction in real time, providing real time account balance interface with the subscriber and a payment application module configured to communicate with a plurality of payment and collections gateways, via a payment and collection interface comprising of electronic and manual systems of financial institutions or financial services companies associated with the seller, buyer, and the shipper, and any other TSH for the purpose of originating , mediating and bringing the transaction to a closure between the buyer, seller and the shipper; a transaction history module configured to track transaction , record and regulate transaction turnaround and response time for buyer, seller and shipper for the purpose of remediation, online surveillance, system quality improvements and preservation of the TrustedPayer transactions regulations agreed to by all subscribers; a communications gateway configured to send and receive transaction based information between TrustedPayer interface and the buyer or seller or shipper from a client interface.

35. The computer implemented method of claim 34 further comprising of a TrustedPayer interface that accepts subscribers and subscriber registration via a plurality of devices such as cell phones , SMS, short-code sessions, online input and call centers and physical Teller modules returning a 'successful' or not successful registration message via secure pathways on a plurality of devices.

36. The computer implemented, method of claim 35 further comprising a successful registration that is returned comprising the subscriber account number, subscribe identification number; subscriber type, subscription status via text message, email or voice mail whereby completion of the registration process shall be via online process through a verification link on the subscriber email box

37. The computer implemented method of claim 36 further comprising of subscriber type and subscriber status wherein subscriber type shall reflect the annotation comprising of Buyer, Seller and shipper and any other TSH and subscriber status annotations comprising of Member, Guest , Affiliate.

38. The computer implemented method of claim 34 that keeps an index and database of vendors who sell products and provides this database via Internet to the buyer or subscriber to choose for the purpose of shopping online through a directed link to the seller's online site or that of a third party online market on which the said seller vends his or her merchandise.

39. The computer implemented method of claim 38 further comprising of a Logo design, a trademark representing the TrustedPayer logo and trademark that will appear on the online page of the subscriber, buyer, seller as an active URL link option for payment via the client interface communicating online with the TrustedPayer interface, whether it is the primary website of the seller or a third party online market website on which the seller merchandise is vended.

40. The computer implemented method of claim 34 further comprising of a Teller

manager module that accepts deposits to subscriber accounts for payments for goods and services or products via a plurality of electronic devices and channels comprising of bank transfer, mobile phones, scratch cards, remittances, vouchers as well as redeemable SMS credits.

41. The computer implemented method of claim 34 further comprising of a

cryptographic system that preserves funds for payment of goods and services by a subscriber buyer in the form of encrypted cipher for the purpose that such funds be redeemed to a seller upon presentment of merged codes consisting entirely of a merger of buyer and seller purchase codes by the buyer via a plurality of devices to confirm that goods or services have been received and transaction is deemed completed.

42. The computer implemented method of claim 41 using plurality of means to encrypt transaction data into split components of purchase codes that are used to validate, verify and confirm completion of transactions between the buyer, seller and shipper and any other TSH.

43. The computer implemented method of claim 41, wherein the cryptographic system comprises; an electronic authentication and validation system that converts electronic money from buyer into encrypted currency redeemable by seller only on the verification and identification of merged codes through a process of decryption by the electronic authentication system.

44. The computer implemented method of claim 43, further comprising of a code

generator module that generates encrypted purchase codes in real time to both buyer and seller or TSH generates unique purchase codes in the origination phase on the payment of monies for a sale to the Teller manager module for the purpose that such monies be redeemed to a seller upon presentment of merged codes consisting entirely of a merger of buyer and seller purchase codes by the buyer via a plurality of devices to confirm that goods or services have been received and transaction is deemed completed.

45. The computer implemented method of claim 44, that this purchase code becomes the currency of the transaction for buyer and seller and shipper and/or any other TSH until the buyer and seller and shipper confirm the transaction is completed by a merger of the purchase codes.

46. The computer implemented method of claim 44, wherein the code generator module generate a secure purchase code to the subscriber buyer representing the particulars of the said buyer's transaction on the TrustedPayer payment platform.

47. The computer implemented method of claim 44, wherein the code generator module generate a secure purchase code to the subscriber seller representing the particulars of the said buyer's transaction on the TrustedPayer payment platform. 47b. The computer implemented method of claim 44, wherein the code generator module generate a secure purchase code to the subscriber TSH representing the particulars of the said buyer's transaction on the TrustedPayer payment platform

48. The computer implemented method of claim 44, wherein the secure purchase code is an audio or text message, a sequence of symbols, or a picture or any other information instrument/currency capable of encoding and transferring

unique/discrete information

49. The computer implemented method of claim 46, wherein the secure purchase code is unique to each buyer.

50. The computer implemented method of claim 47, wherein the secure purchase code is unique to each seller. 50b. The computer implemented method of claim 47, wherein the secure purchase code is unique to each TSH.

51. The computer implemented method of claim 44, wherein the secure purchase code is unique to each good and product.

52. The computer implemented method of claim 44, wherein the secure purchase code is unique to each transaction.

53. The computer implemented method of claim 44, having code generator module to generate fractions (2, 3, 4,....n^h number of divisions) of the secure purchase code to buyer and seller representing particulars of the said transaction entered into as a result of the purchase request and payment made by the buyer on the Teller module of the TrustedPayer platform.

54. The computer implemented method of claim 44, where in the purchase code

becomes the currency of the transaction for buyer and seller and shipper and any other TSH until the buyer and seller and shipper confirm the transaction is completed by a merger of the purchase codes.

55. The computer implemented method of claim 43 comprising ; An Electronic

Authentication System and Teller module to authenticate and validate the combined encrypted purchase codes of the buyer and seller in order to decrypt and reveal the transaction amount and identification for the purpose of making payment to the seller and closing the deal.

56. The computer implemented method of claim 43, comprising ; An electronic

authentication system and Teller manager module to authenticate and validate the combined encrypted purchase codes of the buyer and seller in order to decrypt and reveal the transaction identification and number for the purpose of verifying and matching the buyer and seller to the said transaction.

57. The computer implemented method of claim 42, having; a Teller manager module to remit payment to seller only on receipt of shipper delivery code which must be same as the merged code of seller and buyer confirming that product was delivered to buyer by shipper as transacted.

58. The computer implemented method of claim 34, wherein the Teller manager module is configured to collect deposits from buyers and remit payment for the transaction in real time, providing real time account balance interface with the subscriber and a payment application module configured to communicate with a plurality of payment and collections gateways, comprising of electronic and manual systems of financial institutions or financial services companies associated with the seller, buyer, and the shipper, for the purpose of originating , mediating and bringing the transaction to a closure between the buyer and the seller.

59. The computer implemented method of claim 34, wherein the Teller manager module comprises; payment and collections gateways, via payment and collection interfaces, comprising of electronic and manual systems of financial institutions or financial services companies associated with the seller, buyer, and the shipper, for the purpose of originating , mediating and bringing the transaction to a closure between the buyer , seller and the shipper

60. The computer implemented method of claim 34, comprising of a Transaction history module configured to track transaction, record and regulate transaction turnaround and response time for buyer, seller and shipper for the purpose of remediation and preservation of the TrustedPayer transactions regulations agreed to by all subscribers

61. The computer implemented method of claim 60, further comprising ; an electronic clock counter, configured to start counting from the moment a purchase is made by the buyer till when the transaction is completed by a verified copy of merged purchase codes of buyer and seller; display on the buyer page of the TrustedPayer interface and via timed prompts a countdown of maximum duration allowable for receipt of buyer code, lack of which trigger a default command to the Teller manager module to execute payment to seller on receipt of seller copy of merged purchase codes which shall be deemed as eligible for transaction completion.

62. The computer implemented method of claim 34, comprising of a communications gateway configured to send and receive secure transaction based information between the TrustedPayer interface and the buyer or seller or shipper from a client interface.

63. The computer implemented method of claim 34, wherein the Teller manager module executes instructions for transferring the monies deposited by the buyer or subscriber back to buyer's TrustedPayer account for an incomplete or terminated transaction.

64. The computer implemented method of claim 34, wherein the Teller manager module executes instructions to notify the buyer via plurality of media comprising of email, text SMS, when monies are transferred to the account to the account of the seller after receipt and authentication of merged confirmation code for the purpose of closing the deal.

65. The computer implemented method of claim 34, wherein the Teller manager module receives transaction information and particulars and converts them into credentials formatted for encoding by the code generator of the cryptographic system.

66. The method, whereby payment for goods or service made by the buyer to seller on the TrustedPayer platform shall only be made to seller on the presentment through a plurality of platforms and devices of a confirmation code of receipt to the

TrustedPayer platform for authentication and validation of the said transaction being completed between the seller and the buyer culminated by the act of exchange of purchase codes between buyer and seller or buyer and shipper ( where seller is represented by shipper) whereby these encrypted codes must have been validly received from the TrustedPayer platform by both seller and buyer upon purchase of the goods or service by the buyer on the TrustedPayer platform and authenticated as such by a process of advanced encryption and decryption to reveal a match with the central TrustedPayer mastercode to confirm agreement between buyer and seller for transaction amount, serial number and code for the purpose of remitting payment to the seller via a plurality of channels for goods and services sold initially originated of multiple steps of 1. Registration; (2) origination; (3) mediation; (4) delivery; (5) remediation; (6) closure

67. The computer implemented method of claim 66 further comprising; Teller manager module; advanced encryption and decryption of purchase codes; whereby these encrypted codes must have been validly received or generated from the TrustedPayer platform by both seller and buyer upon purchase of the goods or service by the buyer on the TrustedPayer platform and authenticated as such by a process of advanced encryption and decryption to reveal a match with the central TrustedPayer mastercode to confirm agreement between buyer and seller for transaction amount, serial number and code for the purpose of remitting payment to the seller via a plurality of channels for goods and services sold initially originated of multiple steps of (1) registration of buyer or seller as subscribers to the service via a plurality of secured channels and devices comprising of SMS .Short Code service, call center, ATM, Physical Teller point of sale, and an online application channel, (2)

Origination of transaction by buyer via a plurality of secured platforms and channels comprising of online web page , ATM terminal , call center and physical Teller point of sale whereby buyer deposits money for purchase via a plurality of channels provided on the TrustedPayer platform comprising of bank transfers, remittances, cards, mobile phone into his TrustedPayer account for the payment of predetermined choice of good or service from selected seller or in anticipation of a purchase to be made at the buyer's choice of time, whereas the said amount shall be displayed as received deposit balance on the buyer/subscribers account page within TrustedPayer online platform and database, (3) mediation by TrustedPayer between the seller and buyer and shipper (if necessary) for the purpose of transmitting buyer purchase and payment request to seller and transforming the transaction information into encrypted purchase code which is split and sent to or received from both buyer and seller to be merged on conclusion of transaction by both seller and buyer to effect payment for goods and services rendered whereas the purchase code therefore represents the currency of the ecosystem coterminous with payment to any of the actors in the value chain and resolved by the TrustedPayer Teller module, (4) delivery of good or service purchased of the seller by buyer by payment via

TrustedPayer platform Teller manager module and shipped via a shipper designated by the seller upon receipt of the encrypted purchase code and transmission of same encrypted code to the shipper via plurality of means for the purpose of ensuring delivery and exchange of the seller purchase code with the buyer purchase code on delivery which shall then be merged together by the shipper and sent to the

TrustedPayer platform and seller via plurality of devices to confirm delivery of said good or service and buyer identity and receive payment from seller for shipment of good or service to the customer, (5) remediation of issues from a plurality of possible scenarios resulting from the sale (6) closure of the transaction by TrustedPayer sending buyer and seller invoice and receipt notices by a plurality of means and devices whereby each of buyer , seller and shipper confirms to have received the good or service, payment for good or service rendered and payment for delivery or shipment of said good or service purchased.

68. A non-transitory computer-readable storage medium storing a set of instructions that, when executed by a processor, cause the processor to perform operations comprising; communicate with a computing device of a seller and a computing device of a buyer, the buyer and seller being partakers in a transaction on an online market portal via an plurality of client interfaces; a TrustedPayer Teller module interface configured to receive transaction information between the seller and the buyer from a plurality of online market portals; a TrustedPayer Teller manager module configured to receive a deposit transaction information associated with the transaction between the buyer and the seller in the online market via a plurality of online market interfaces ; a cryptographic system configured to generate purchase codes for unique transactions occurring between buyer and seller in the online market; a TrustedPayer Teller interface configured to communicate the transaction and shipping information to an online Teller module; a Teller manager module configured to collect deposits from buyers and remit payment for the transaction in real time, providing real time account balance interface with the subscriber and a payment application module configured to communicate with a plurality of payment and collections gateways, via a payment and collection interface comprising of electronic and manual systems of financial institutions or financial services companies associated with the seller, buyer, and the shipper, for the purpose of originating , mediating and bringing the transaction to a closure between the buyer, seller and the shipper; a transaction history module configured to track transaction, record and regulate transaction turnaround and response time for buyer, seller and shipper for the purpose of remediation online surveillance, system quality improvements and preservation of the TrustedPayer transactions regulations agreed to by all subscribers; a

communications gateway configured to send and receive transaction based information

69. The non-transitory computer-readable storage medium of claim 68 wherein the Teller manager module accepts deposits to subscriber accounts for payments for goods and services or products via a plurality of electronic devices and channels comprising of bank transfer, Mobile phones scratch cards, remittances, vouchers as well as redeemable SMS credits.

70. A non-transitory computer-readable storage medium claim 68, comprising of a

71 . A non-transitory computer-readable storage medium of claim 70, storing a set of instructions that, when executed by a processor, cause the processor to perform operations comprising; using plurality of means to encrypt transaction data into split components of purchase codes or handle unique codes originated by TSH that are used to validate, verify and confirm completion of transactions between the buyer, seller and shipper.

72. A non-transitory computer-readable storage medium of claim 70, wherein the

cryptographic system comprises; an electronic authentication and validation system that converts electronic money from buyer into encrypted currency redeemable by seller only on the verification and identification of merged codes through a process of decryption by the electronic authentication system.

73. A non-transitory computer-readable storage medium of claim 70, further comprising of a code generator module that generates encrypted purchase codes in real time to both buyer and seller on the payment of monies for a sale to the Teller manager module for the purpose that such monies be redeemed to a seller upon presentment of merged codes consisting entirely of a merger of buyer and seller purchase codes by the buyer via a plurality of devices to confirm that goods or services have been received and transaction is deemed completed.

74. A non-transitory computer-readable storage medium of claim 71 , that this purchase code becomes the currency of the transaction for buyer and seller and shipper until the buyer and seller and shipper confirm the transaction is completed by a merger of the purchase codes.

75. A non-transitory computer-readable storage medium of claim 73, wherein the code generator module generate a secure purchase code to the subscriber buyer representing the particulars of the said buyer's transaction on the TrustedPayer payment platform.

76. A non-transitory computer-readable storage medium of claim 73, wherein the code generator module generate a secure purchase code to the subscriber seller representing the particulars of the said buyer's transaction on the TrustedPayer payment platform. 76b. A non-transitory computer-readable storage medium of claim 73, wherein the code generator module generate a secure purchase code to the subscriber TSH representing the particulars of the said buyer's transaction on the TrustedPayer payment platform.

77. A non-transitory computer-readable storage medium of claim 73, wherein the secure purchase code is an audio or text message, a sequence of symbols, or a picture or any other information instrument/ currency capable of encoding and transferring unique/discrete information

78. A non-transitory computer-readable storage medium of claim 76, wherein the secure purchase code is unique to each seller.

79. A non-transitory computer-readable storage medium of claim 75, wherein the secure purchase code is unique to each buyer. 79b. A non-transitory computer-readable storage medium of claim 75, wherein the secure purchase code is unique to each TSH.

80. A non-transitory computer-readable storage medium of claim 73, wherein the secure purchase code is unique to each good and product.

81. A non-transitory computer-readable storage medium of claim 73, wherein the secure purchase code is unique to each transaction.

82. A non-transitory computer-readable storage medium of claim 73, having code

generator module to generate fractions (2, 3, 4,....n ^h number of divisions) of the secure purchase code to buyer and seller representing particulars of the said transaction entered into as a result of the purchase request and payment made by the buyer on the Teller module of the TrustedPayer platform.

83. A non-transitory computer-readable storage medium of claim 72, wherein the

electronic Authentication system and Teller module authenticate and validate the combined encrypted purchase codes of the buyer and seller in order to decrypt and reveal the transaction amount and identification for the purpose of making payment to the seller and closing the deal.

84. A non-transitory computer-readable storage medium of claim 72, wherein the

electronic Authentication system and Teller module authenticate and validate the combined encrypted purchase codes of the buyer and seller in order to decrypt and reveal the transaction identification and number for the purpose of verifying and matching the buyer and seller to the said transaction.

85. A non-transitory computer-readable storage medium of claim 68, having ; a Teller manager module to remit payment to seller only on receipt of shipper delivery code which must be same as the merged code of seller and buyer confirming that product was delivered to buyer by shipper as transacted.

86. A non-transitory computer-readable storage medium of claim 68, wherein the Teller manager module is configured to collect deposits from buyers and remit payment for the transaction in real time, providing real time account balance interface with the subscriber and a payment application module configured to communicate with a plurality of payment and collections gateways, comprising of electronic and manual systems of financial institutions or financial services companies associated with the seller, buyer, and the shipper, for the purpose of originating, mediating and bringing the transaction to a closure between the buyer , seller and the shipper

87. A non-transitory computer-readable storage medium of claim 68, comprising of a transaction history module configured to track transaction , record and regulate transaction turnaround and response time for buyer, seller and shipper for the purpose of remediation online surveillance, system quality improvements and preservation of the TrustedPayer transactions regulations agreed to by all subscribers

88. A non-transitory computer-readable storage medium of claim 87, further comprising ; an electronic clock counter, configured to start counting from the moment a purchase is made by the buyer till when the transaction is completed by a verified copy of merged purchase codes of buyer and seller; display on the buyer page of the

TrustedPayer interface and via timed prompts a countdown of maximum duration allowable for receipt of buyer code, lack of which trigger a default command to the Teller manager module to execute payment to seller on receipt of seller copy of merged purchase codes which shall be deemed as eligible for transaction completion.

89. A non-transitory computer-readable storage medium of claim 68, comprising of a communications gateway configured to send and receive secure transaction based information between the TrustedPayer interface and the buyer or seller or shipper from a client interface.

90. A non-transitory computer-readable storage medium of claim 68, wherein the Teller manager module executes instructions for transferring the monies deposited by the buyer or subscriber back to buyer's TrustedPayer account on account of an incomplete or terminated transaction.

91. A non-transitory computer-readable storage medium of claim 68, wherein the Teller manager module executes instructions to notify the buyer via plurality of media comprising of email, text SMS, when monies are transferred to the account to the account of the seller after receipt and authentication of merged confirmation code for the purpose of closing the deal.

92. A non-transitory computer-readable storage medium of claim 68, wherein the Teller manager module receives transaction information and particulars and converts them into credentials formatted for encoding by the code generator of the cryptographic system.