Settlement of aggregated electronic transactions over a network
US6324525A · kind A · utility
Assignee
Inventors
Key dates
| Filing date | Jul 22, 1998 |
| Grant date | Nov 27, 2001 |
| Priority date | — |
| Expiry date | Jul 22, 2018 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q20/20
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
In one embodiment, an architecture that consummates an electronic transaction between a first electronic device, such as an acquirer device, a second electronic device, such as an issuer device, and a plurality of electronic terminals, such as merchant terminals, by establishing a communication between the plurality of devices and terminals and accumulating transactions that are approved by the second electronic device. Then, periodically the plurality of transactions are settled using a transfer of monetary value between the first electronic device and the second electronic device. For example, the present invention uses electronic cash transfer to replace conventional settlement, which requires the use of a third-party settlement service.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.