Electronic payment processing apparatus and method
US11080663B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | May 10, 2018 |
| Grant date | Aug 3, 2021 |
| Priority date | — |
| Expiry date | Jan 22, 2039 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q20/407
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
An apparatus for processing electronic payment transactions is provided. The apparatus includes a computer processor and a data storage device, the data storage device having an incoming and an outgoing transaction initiation module including non-transitory instructions operative by the processor to receive an order indication at a payment intermediary server, the order indication indicating an order by a customer having an order value amount, initiate a transaction from an account associated with the customer to an intermediary account for the order value amount, initiate a transaction from the intermediary account to an account associated with the merchant for a first portion of the order value amount, receive an order feedback indication, and initiate a further transaction or further transactions in response to the order feedback indication to transfer the second portion of the order value amount to the account associated with the merchant and/or the account associated with the customer.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.