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

Image Number 16 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
Liquid crystal shutter glasses
Vehicle lamp component
Wearable display device
Interconnect, bus system with interconnect and bus system operating method
Synergistic preparations based on mixtures of glycerol ether with aromatic alcohol for controlling mycobacteria
Multi-function wrench for a power tool
Photoelectric conversion device
  Randomly Featured Patents
Method and system for interactive delivery of data content to mobile devices
Homogeneous low melting point copper based alloys
Method and a pharmaceutical preparation for treating pain
Measuring apparatus for X-ray fluorescence analysis
Query optimization with deferred updates and autonomous sources
Lock off-lock on
Spa apparatus
Bipartite heat sink positioning device for computer chips
Compact electric asymmetry brake
Golf ball with soft core