System and method for pre-approving, regulating, and executing secure transactions
US8260677B1 · kind B1 · utility
Assignee
Inventors
Key dates
| Filing date | Sep 26, 2011 |
| Grant date | Sep 4, 2012 |
| Priority date | — |
| Expiry date | Sep 26, 2031 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q20/405
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A system and method for regulating a proposed transaction between a first party and a seller is provided. The method includes providing a transaction intermediary machine (TIM) on a network that is associated with a transactional limitations database storing in relation to each of a plurality of unique identifiers at least one criterion that has been established by a second party, and concerning one or more transactional limitations imposed by the second party on the first party. A request for approval (RFA) is received from the seller at the TIM having a unique identifier provided by the first party and details concerning the proposed transaction between the first party and the seller. Then, the RFA is compared with the criteria, completion of the proposed transaction is approved and a payment to the seller is also approved, and personal identification information is provided from the TIM to the seller.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.