US 2014/0006271 A1 · CROSS-NETWORK ELECTRONIC PAYMENT PROCESSING SYSTEM AND METHOD

Abstract

The present invention is a cross-network system and method for electronic payment processing using a unique universal ID (called “PID”) through which a user can securely and conveniently send payments to or receive payments from anyone who has access to the internet. The system comprises a communication interface, a processor and a database. The processor of the present invention generates universal IDs representing unique payment relationships between a user and third parties with whom the user wishes to make or receive payments. This system by utilizing PIDS represents a more secure and more convenient method for making payments across and within disparate internet networks. Using the system and method of the present invention, a user can authorize a payment to another person or entity or generate an invoice regardless of the user's point or type of entry.

Claims17

Dependent claims

A cross-network system for electronic paying or invoice processing by a system user, comprising:

a communications interface capable of electronic receipt and transmittal of information;
a database for storing information regarding the user, the target, the user's point of entry into the system, the user's or target's payment sources;
a processor which can electronically connect to the communications interface for obtaining, storing and manipulating the information in the database to create a universal ID which contains all relevant profile and network information pertaining to a user-target relationship so that any payments made between the user and the target, regardless of which one is paying the other, will be facilitated.

A cross-network method for electronic payment or invoice processing by a new system user, comprising the steps of:

contacting the cross-network system using a communications interface;
requesting the user provide identifying profile information regarding the user and the target to which the user wishes to made an electronic payment or to whom the user wishes to send an electronic invoice;
creating a unique user ID and a password for that user which is stored by the system processor and/or creating a network ID which represents both the network from which the user accessed the system and that network's user personal network credentials or which identifies the specific device from which the user entered the system;
creating a payment source database for each user at the request of the user, which contains all of the payment sources from which or to which the user wishes to make or receive a payment;
and
creating and storing a universal ID representing all relevant information about the relationship between the user and the target whereby when the user wishes to send a payment or an invoice so that any future transactions between the parties will be facilitated in any context, including but not limited to a device, a single or dual third-party networks, or the system itself;
whereby a payment or invoice is sent by the user to the target.

4 more elements

Dependencies are inferred from the claim text.

Cross-network electronic payment processing system and method

Life of this patent

Cross-network electronic payment processing system and method

Life of this patent

Abstract

Claims17