Resources Contact Us Home
Method and apparatus for ordering goods, services and content over an internetwork using a virtual payment account

Image Number 14 for United States Patent #7908226.

A virtual payment system for ordering and paying for goods, services and content over an internetwork is disclosed. The virtual payment system comprises a commerce gateway component (52) and a credit processing server component (53). The virtual payment system is a secure, closed system comprising registered sellers and buyers. A buyer becomes a registered participant by applying for a virtual payment account. Likewise, a seller becomes registered by applying for a seller account. A buyer can instantly open an account on-line. That is, the credit processing component (53) immediately evaluates the buyer's virtual payment card application and assigns a credit limit to the account. Once an account is established, a digital certificate is stored on the registered participant's computer. The buyer can then order a product, i.e., goods, services or content from a seller and charge it to the virtual payment account. When the product is shipped, the seller notifies the commerce gateway component (52), which in turn notifies the credit processing server that applies the charges to the buyer's virtual payment account. The buyer can settle the charges using a prepaid account, a credit account, or by using reward points earned through use of the virtual payment card. A buyer may create sub-accounts.

  Recently Added Patents
Method and system for distributing ringback files
Wireless communication system
Semiconductor device and method of adjusting characteristic thereof
Electronic multiparty accounts receivable and accounts payable system
Method of manufacturing a plurality of electronic assemblies
Method of operating an electromechanical converter, a controller and a computer program product
Signal processing device, signal processing method and program
  Randomly Featured Patents
Printer, printer control method and recording medium storing its process
Shirt tail trouser retaining belt
Angle rod screen design
Roof for a vehicle cab
Convertible work light
Dual tube fouling monitor and method
Valve for a milking apparatus
Oil burner and method
Wallmounted bottle holder
Battery pack for a combustion tool