Virtual private lock box
US6704714B1 · kind B1 · utility
Assignee
Inventors
Key dates
| Filing date | Feb 3, 2000 |
| Grant date | Mar 9, 2004 |
| Priority date | — |
| Expiry date | Feb 3, 2020 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG07F19/20
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A system and method for effectuating Electronic Funds Transfer credit messages. The main structural components of the system include a Payment Portal Processor (PPP), an Internet Pay Anyone (IPA) Account, a Virtual Private Lockbox (VPL) and an associated Account Reporter, the existing EFT networks, and a cash card for accessing a VPL or IP account. The PPP is a software application that provides a secure portal for accessing (linking to) either the user's Demand Deposit Account (DDA) or an IPA account and can be combined with the functionality of a traditional digital Wallet. Consumers use a PPP enhanced Wallet to fund their account, shop on the web, pay bills, pay anyone, store electronic receipts and transaction history, and check their recent PPP enhanced Wallet activity. The IPA account is a special purpose account with limited functionality for making electronic payments in the form of EFT credit messages. The VPL is a limited function receive only account for receiving electronic payments through the EFT. The Account Reporter is a portal to view transaction history and balance of IPA and VPL accounts, provide online, real-time transaction reports, and to reconciles accounts r…
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.