Method and system for facilitating online payments based on an established payment agreement

US9940622B2 · kind B2 · utility

Assignee

• PAYPAL, INC. · US

Inventors

• Hugo Olliphant · San Francisco, US
• Franck Chastagnol · Woodside, US
• Yi-Ling Su · Los Altos, US
• William Wu · Sunnyvale, US
• Chris Brown · Berkeley, US
• Thach Dang · Burlingame, US
• Thomas Veino · San Jose, US
• Carol Gunby · San Jose, US
• Peter Chu · Mountain View, US
• Steven Chen · San Francisco, US

Key dates

• Filing date: Apr 5, 2016
• Grant date: Apr 10, 2018
• Expiry date: Apr 5, 2036

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/00
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A method and system for facilitating online payments are disclosed. According to one aspect of the present invention, a payment agreement is established at a payment service provider that defines terms of a payment relationship between a merchant and a user. The establishing of the payment agreement includes linking the payment agreement with a payment account of the merchant or user stored at the payment service provider. After establishing the payment agreement, a payment request associated with a transaction is received, whereby the payment request includes a unique identifier to identify the payment agreement stored at the payment service provider. Based on a verification that the payment request complies with terms of the payment agreement, the payment request is processed.