System and method of using load network to associate product or service with a consumer token
US8630954B2 · kind B2 · utility
Assignee
Inventor
Key dates
| Filing date | Dec 13, 2012 |
| Grant date | Jan 14, 2014 |
| Priority date | — |
| Expiry date | Dec 13, 2032 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q20/24
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
Systems, devices, apparatuses, and methods for conducting a transaction in which a consumer purchases a product or a service by providing payment to a merchant whom is not the provider of the product or service. The invention permits a consumer to present cash or a payment device (such as a credit card or debit card) to a merchant, where that merchant may be an element of a load network or payment processing network. In a typical load network transaction, the merchant would accept the cash or payment device from the consumer and use the funds provided to “load” or recharge an account of the consumer. However, instead of this use of the network, embodiments of the invention operate to allow the consumer to provide the source of payment to the merchant for a product or service offered by a third party which is accessed by the consumer using a consumer token.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.