Secure and efficient payment processing system
AssigneeCardinalCommerce Corporation
InventorsMichael A. Keresman, III, Chandra S. Balasubramanian, Francis M. Sherwin
Life of this patent
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Abstract
A method is provided for carrying out commercial transactions. The method includes the steps of: establishing a transaction processing system on an electronic communications network; establishing an account within the transaction processing system for a corresponding account holder; obtaining from the account holder a session description of acceptable future commercial transactions related to the account; administering commercial transactions carried out via the transaction processing system; and, verifying that administered commercial transactions related to the account meet one or more of the session description.
Claims19
A method for carrying out commercial transactions, said method comprising the steps of:
- (a) establishing a transaction processing system on an electronic communications network;
- (b) establishing an account within the transaction processing system for a corresponding account holder;
- (c) obtaining from the account holder a definition of a session, the definition describing a plurality of future commercial transactions related to the account to be collectively authenticated;
- and,
- (d) administering commercial transactions carried out via the transaction processing system, the administering including:
- (i) authenticating account holders performing the commercial transactions using an authentication process;
- (ii) determining whether commercial transactions related to the account are part of the session using the definition;
- (iii) in response to determining a commercial transaction is part of the session, bypassing the authentication process for the commercial transaction;
- (iv) authenticating the account holder for the session using the authentication process, wherein the authentication for the session is performed once.
A transaction processing system comprising:
- a server operative to:
- establish an account for a corresponding account holder;
- receive from the account holder a definition of a session, the definition describing a plurality of future commercial transactions belonging to the session;
- and
- administer commercial transactions after receiving the definition from the account holder by:
- authenticating account holders performing the commercial transactions using an authentication process;
- determining whether commercial transactions related to the account are part of the session using the definition;
- collectively authenticating commercial transactions belonging to the session using the authentication process and by authenticating the account holder only once for all commercial transactions belonging to the session;
- in response to determining a commercial transaction is part of the session and the commercial transactions belonging to the session being collectively authenticated, bypassing the authentication process for the commercial transaction;
- at least one database in communication with the server for storing data relating to the commercial transactions.
Dependencies are inferred from the claim text.