System and method for facilitating secure payment with privacy over a computer network including the internet

A method of facilitating a secure transaction over a computer network, comprising:

• receiving by a transaction facilitator purchase data of a transaction of an item while a buyer shops for the item;
• transmitting, over a first link, from the transaction facilitator to a financial institution associated with the buyer at least a part of the purchase data and a buyer identifier;
• receiving, over a second link, by the financial institution a request for payment for the transaction from the buyer;
• associating the buyer to the transaction based on the buyer identifier;
• and
• determining whether to approve the payment request for the transaction by the financial institution.

A method of facilitating a secure transaction over a computer network, comprising:

• under the control of a computer of a transaction facilitator,
• receiving purchase data of a transaction of an item from a seller while a buyer shops for the item;
• and
• transmitting over a private communication link to a financial institution associated with the buyer at least a part of the purchase data;
• under the control of a computer of the financial institution,
• receiving over a public communication link from the buyer a request for payment for the transaction;
• associating the buyer to the transaction;
• and
• determining whether to approve the payment request for the transaction.