Transactional processing system
US5475585A · kind A · utility
Inventor
Key dates
| Filing date | Feb 2, 1994 |
| Grant date | Dec 12, 1995 |
| Priority date | — |
| Expiry date | Feb 2, 2014 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG07F17/0042
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A transactional processing system is used in conjunction with a transmitting source. The system allows for real-time authorization of payments for a plurality of products and services made available by the transmitting source. A video menu is sent to a receiver representing a list of the available products and services. The receiver contains a credit or debit card reader and transmits financial account information, as well as the selection from the menu, via a modem to a payment processor. The payment processor verifies the programming selection and account information and transmits an authorization signal to the vendor or service provider. The payment processor would verify financial account information and forward payment authorization to a financial institution. The vendor, in turn sends the selected product to the consumer upon receiving payment from the financial institution.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.