System for handling network transactions
AssigneeSafepay Australia Pty Limited
InventorJohn O'Hara
Life of this patent
Estimating the term…
Abstract
A method of securing a transaction that comprises a trust entity computer in communication with data storage, a first party and a second party over a network, and receiving a request from the first party to undertake a transaction with the second party. In addition, receives a first token, storing the first token in the data storage, receiving a second token from the second party, comparing the stored first token and the received second token, if the stored first token and the received second token are a match, enabling the transaction.
Claims18
A method of securing an online transaction, comprising,
- at a trust entity server in communication with a database, a funds provider, a buyer, and a seller over a network,
- receiving a request from the buyer to purchase from the seller including a seller information and a cost of purchase;
- sending a request to the funds provider for a credit check on the buyer, the seller information and a request to quarantine the cost of purchase amount from a buyer account,
- wherein the buyer having established the buyer account with the fund provider, and
- wherein the quarantine is a request that the cost not be used for anything else until the transaction is settled;
- receiving a response to the credit check;
- if the response to the credit check is positive,
- generating a first token, including a date and time indicator;
- storing the generated first token in a database;
- sending the first token to the buyer;
- receiving a second token from the seller;
- comparing the stored first token and the received second token;
- if the stored first token and the received second token are a match,
- sending a message to the fund provider to release the cost of purchase amount from the buyer account the seller;
- and
- disabling the first token from being used again.
A system of securing an online transaction, comprising,
- via a trust entity server in communication with a database, a funds provider, a buyer, and a seller over a network, the trust entity server configured to,
- receive a request from the buyer to purchase from the seller including a seller information and a cost of purchase;
- send a request to the funds provider for a credit check on the buyer, the seller information and a request to quarantine the cost of purchase amount from the buyer account,
- wherein the buyer having established a buyer account with the fund provider;
- receive a response to the credit check;
- if the response to the credit check is positive,
- generate a first token, including a date and time indicator;
- store the generated first token in the database;
- send the first token to the buyer;
- receive a second token from the seller;
- compare the stored first token and the received second token;
- if the stored first token and the received second token are a match,
- send a message to the fund provider to release the cost of purchase amount from the buyer account the seller;
- and
- disable the token from being used again.
A method of securing an online transaction, comprising,
- at a trust entity server in communication with a database, a buyer, and a seller over a network,
- receiving a request from the buyer to purchase from the seller including the seller information and a cost of purchase;
- wherein the buyer having established an account with the trust entity;
- generating a first token, including a date and time indicator;
- storing the generated first token in a database;
- sending the first token to the buyer;
- receiving a second token from the seller;
- comparing the stored first token and the received second token;
- if the stored first token and the received second token are a match,
- releasing the cost of purchase amount from the buyer account the seller;
- and
- disabling the token from being used again.
Dependencies are inferred from the claim text.