Four-party credit/debit payment protocol
US6327578A · kind A · utility
1,080Cited by
28References
54Claims
0Family size
Assignee
Inventor
Key dates
| Filing date | Dec 29, 1998 |
| Grant date | Dec 4, 2001 |
| Priority date | — |
| Expiry date | Dec 29, 2018 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q20/367
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A method, system, program, and method of doing business are disclosed for electronic commerce that includes the feature of a "thin" consumer's wallet by providing issuers with an active role in each payment. This is achieved by adding an issuer gateway and moving the credit/debit card authorization function from the merchant to the issuer. This enables an issuer to independently choose alternate authentication mechanisms without changing the acquirer gateway. It also results in a significant reduction in complexity, thereby improving the ease of implementation and overall performance.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.