Electronic transfer system and method

US5870473A · kind A · utility

Assignee

• CyberCash, Inc. · US

Inventors

• Brian Boesch · Herndon, US
• Stephen David Crocker · Bethesda, US
• Donald E. Eastlake, III · Ashland, US
• Alden Sherburne Hart, Jr. · Knoxville, US
• Robert A. Lindenberg · Sudbury, US
• Denise Marie Paredes · Centreville, US

Key dates

• Filing date: Dec 14, 1995
• Grant date: Feb 9, 1999
• Expiry date: Dec 14, 2015

Classification

• Technology area (CPC H): Electricity
• CPC primary: H04L2463/102
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A system and method relating to secure communications in a communication network is disclosed. The invention uses sessions having limited duration to enable parties to communicate securely in the communication network. The session of one party is independent from the session of another party. The sessions are linked at a server which confirms that the sessions are valid. In a preferred embodiment, the secure communications occur in an electronic transfer system. In the electronic transfer system, a customer and a merchant can conduct a transaction wherein the customer can purchase a product from the merchant and pay for the product using electronic funds.