Consolidated payment account system and method

US8504474B2 · kind B2 · utility

Assignee

• American Express Travel Related Services Company, Inc. · US

Inventors

• David Armes · Phoenix, US
• Fred Bishop · Glendale, US
• Lydia Breck · New York, US
• Jeff Fehlhaber · Glendale, US
• Gabriella P. Fitzgerald · New York, US
• Elliott Glazer · Midlothian, US
• Sohail Hussain · Scottsdale, US
• Margaret C. Mitchell · Phoenix, US
• Trey Neeman · Glendale, US
• Leah M. Sweet · Goodyear, US
• Dirk White · Glendale, US
• Jessica Zoob · New York, US

Key dates

• Filing date: Jul 28, 2010
• Grant date: Aug 6, 2013
• Expiry date: Jul 28, 2030

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q30/06
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

The present invention provides a system and method for providing and/or facilitating complete on-line payment services while protecting the privacy of the transaction participants. The comprehensive payment service is based upon a consolidated account used to store value acquired through on-line transactions. The invention provides private payment numbers for protecting the identities of the participants and includes processes for authenticating participants, authorizing transactions, and settling payments. Thus, the present invention enables merchants to effectively accept non-standard forms of payment without changing their current payment infrastructures and enables the provision of value for purchases at any network merchant using any source of value.