US 7,003,480 B2 · GUMP: grand unified meta-protocol for simple standards-based electronic commerce transactions

Abstract

A method for facilitating two-party electronic commerce transactions between trading partners on an unsecure network, such as the Internet. In one example, a client makes application for registration by a financial institution in which the client has one or more accounts. The client submits satisfactory proof of identity and a public key portion for a digital signature to the financial institution. The financial institution may provide the client a one time secret by a secure route, such as conventional mail, which can then be used by the client to show proof of its identity. The financial institution authenticates the one time secret and combines it with the client's public key in a GUMP Relationship Certificate (GRC), which it issues to the client over the network. Once issued, the GRC can be used by the client to authenticate its right to access its account(s) or other products or services at the financial institution and when conducting other electronic transactions over the network. The client digitally signs any such transaction to authenticate its right to conduct the transaction. A delegate may be enlisted by the client to negotiate the purchase of goods from a seller or for other purposes, using a GUMP Delegate Certificate. The concept can be extended to other three party transactions, such as issuing an electronic Letter of Credit (LOC).

Claims25

Dependent claims

A method for performing an electronic commerce transaction over an unsecure network without requiring encryption of all documents communicated over the unsecure network that are employed for performing the electronic commerce transaction, comprising the steps of:

(a) enabling a first party to apply for registration with a second party in order to receive a commercial relationship certificate, the first party having access to financial resources through the second party;
(b) presenting a certified identifier of the first party to the second party, said certified identifier enabling the second party to confirm a true identity of the first party;
(c) transferring the commercial relationship certificate to the first party from the second party over the unsecure network, the commercial relationship certificate being digitally signed by the second party and including the certified identifier and an index to the financial resources accessible to the first party through the second party, neither said commercial relationship certificate nor said index being encrypted or secret;
(d) providing the commercial relationship certificate to a seller over the unsecure network, the commercial relationship certificate being digitally signed by the first party to indicate that the first party agrees to make a payment for goods provided by the seller in an amount indicated in the certificate as digitally signed;
and
(e) said seller presenting the commercial relationship certificate that was digitally signed by the first party to the second party over the unsecure network in exchange for the payment, the second party referencing the amount indicated in said commercial relationship certificate in making the payment to the seller from the financial resources accessible by the first party.

3 more elements

A method for performing an electronic commerce transaction for goods on an unsecure network without requiring encryption of all documents employed for performing the electronic commerce transaction, using a Letter Of Credit (LOC), comprising the steps of:

(a) applying for a LOC with an opening bank, a buyer being approved for the LOC when a true identity of the buyer and terms of the LOC have been authenticated by the opening bank, the opening bank being associated with accessing financial resources of the buyer;
(b) said buyer providing an identifier of the buyer to the opening bank, the identifier enabling the opening bank to independently determine the true identity of the buyer;
(c) said opening bank issuing a certificate that is digitally signed by the opening bank and which includes the identifier and a reference to the LOC, the opening bank sending the certificate to the buyer and a seller over the unsecure network;
(d) said seller sending the certificate to an advising bank, the advising bank being associated with a beneficiary of the electronic commerce transaction;
(e) said buyer sending a document to the advising bank over the unsecure network, when the terms of the LOC have been met;
and
(f) presenting the certificate to the opening bank for payment of the LOC, the certificate having been digitally signed by the advising bank to indicate that the advising bank guarantees the seller has met all of the terms of the LOC, said opening bank sending the payment for the goods to the advising bank for dispersal to the beneficiary.

4 more elements

Dependencies are inferred from the claim text.

GUMP: grand unified meta-protocol for simple standards-based electronic commerce transactions

Life of this patent

GUMP: grand unified meta-protocol for simple standards-based electronic commerce transactions

Life of this patent

Abstract

Claims25