Patent•
Electronic funds transfer instruments
08 Apr 1996-
TL;DR: In this article, an electronic instrument (74) is created in a computer-based method for effecting a transfer of funds from an account of a payer (12) in a funds-holding institution to a payee (14).
Abstract: An electronic instrument (74) is created in a computer-based method for effecting a transfer of funds from an account of a payer (12) in a funds-holding institution to a payee (14). The electronic instrument includes an electronic signature of the payer (126), digital representations of payment instructions, the identity of the payer, the identity of the payee, and the identity of the funds-holding institution. A digital representation (160) of a verifiable certificate by the institution of the authenticity of the instrument is appended to the instrument. This enables a party receiving the instrument, e.g., the payee or a bank, to verify the authenticity of the account or account holder. The invention may be generally applied to any financial electronic document.
Citations
More filters
Patent•
11 Sep 1998TL;DR: In this paper, a method and system for placing an order to purchase an item via the Internet is described, where an order is placed by a purchaser at a client system and received by a server system.
Abstract: A method and system for placing an order to purchase an item via the Internet. The order is placed by a purchaser at a client system and received by a server system. The server system receives purchaser information including identification of the purchaser, payment information, and shipment information from the client system. The server system then assigns a client identifier to the client system and associates the assigned client identifier with the received purchaser information. The server system sends to the client system the assigned client identifier and an HTML document identifying the item and including an order button. The client system receives and stores the assigned client identifier and receives and displays the HTML document. In response to the selection of the order button, the client system sends to the server system a request to purchase the identified item. The server system receives the request and combines the purchaser information associated with the client identifier of the client system to generate an order to purchase the item in accordance with the billing and shipment information whereby the purchaser effects the ordering of the product by selection of the order button.
1,828 citations
Patent•
05 Jul 2001
TL;DR: In this paper, a business model for the creation, maintenance, transmission, and use of digital medical records is presented, which allows financial burdens to be reallocated optimally and equitably, resulting in decreased overall societal cost.
Abstract: A method of maintaining digital medical records, comprising a step of receiving a medical transaction record (102), encrypted with a key in accordance with a patient-file association. Also comprising a step of accessing the encrypted medical transaction record according to a patient association with the record (111). And further comprising a step of re-encryption of the encrypted accessed medical transaction record with a key associated with an intended recipient of the medical record. The system and method according to the present invention presents a new business model for creation, maintenance, transmission, and use of medical records. The invention also allows financial burdens to be reallocated optimally and equitably, resulting in decreased overall societal cost and providing a successful business model for a database proprietor. Secure entrusted medical records are held in trust by an independent third party on behalf of the patient (113), and serve the medical community at large. Separately encrypted record elements may be aggregated as an information polymer.
1,457 citations
Patent•
25 Mar 1999
TL;DR: In this article, a credit card system is presented which has the added feature of providing additional limited use credit card numbers and/or cards, which can be used for a single or limited use transaction, thereby reducing the potential for fraudulent reuse of these numbers and or cards.
Abstract: A credit card system is provided which has the added feature of providing additional limited use credit card numbers and/or cards. These numbers and/or cards can be used for a single or limited use transaction, thereby reducing the potential for fraudulent reuse of these numbers and/or cards. The credit card system finds application to “card remote” transactions such as by phone or Internet. Additionally, when a single use or limited use credit card is used for “card present” transactions, so called “skimming” fraud is eliminated. Various other features enhance the credit card system, which will allow secure trade without the use of elaborate encryption techniques. Methods for limiting, distributing and using a limited use card number, controlling the validity of a limited use credit card number, conducting a limited use credit card number transaction and providing remote access devices for accessing a limited use credit card number are also provided.
1,198 citations
Patent•
25 Mar 2002
TL;DR: In this paper, the authors propose a system and method for communicating information between a first party and a second party, comprising the steps of receiving, by an intermediary, an identifier of desired information and accounting information for a transaction involving the information from the first party, and negotiating, by the intermediary, a comprehension function for obscuring at least a portion of the information communicated between the first parties and the second parties.
Abstract: A system and method for communicating information between a first party and a second party, comprising the steps of receiving, by an intermediary, an identifier of desired information and accounting information for a transaction involving the information from the first party, transmitting an identifier of the first party to the second party, and negotiating, by the intermediary, a comprehension function for obscuring at least a portion of the information communicated between the first party and the second party. The data transmission may be made secure with respect to the intermediary by providing an asymmetric key or direct key exchange for encryption of the communication between the first and second party. The data transmission may be made secure with respect to the second party by maintaining the information in encrypted format at the second party, with the decryption key held only by the intermediary, and transmitting a secure composite of the decryption key and a new encryption key to the second party for transcoding of the data record, and providing the new decryption key to the first party, so that the information transmitted to the first party can be comprehended by it.
1,193 citations
Patent•
01 Feb 1999
TL;DR: An adaptive interface for a programmable system, for predicting a desired user function, based on user history, as well as machine internal status and context, is presented for confirmation by the user, and the predictive mechanism is updated based on this feedback as mentioned in this paper.
Abstract: An adaptive interface for a programmable system, for predicting a desired user function, based on user history, as well as machine internal status and context. The apparatus receives an input from the user and other data. A predicted input is presented for confirmation by the user, and the predictive mechanism is updated based on this feedback. Also provided is a pattern recognition system for a multimedia device, wherein a user input is matched to a video stream on a conceptual basis, allowing inexact programming of a multimedia device. The system analyzes a data stream for correspondence with a data pattern for processing and storage. The data stream is subjected to adaptive pattern recognition to extract features of interest to provide a highly compressed representation that may be efficiently processed to determine correspondence. Applications of the interface and system include a video cassette recorder (VCR), medical device, vehicle control system, audio device, environmental control system, securities trading terminal, and smart house. The system optionally includes an actuator for effecting the environment of operation, allowing closed-loop feedback operation and automated learning.
1,182 citations
References
More filters
Patent•
13 Nov 1992TL;DR: In this article, an electronic-monetary system has been proposed, where banks or financial institutions are coupled to a money generator device for generating and issuing to subscribing customers electronic money including electronic currency backed by demand deposits and electronic credit authorizations.
Abstract: An electronic-monetary system having (1) banks or financial institutions that are coupled to a money generator device for generating and issuing to subscribing customers electronic money including electronic currency backed by demand deposits and electronic credit authorizations; (2) correspondent banks that accept and distribute the electronic money; (3) a plurality of transaction devices that are used by subscribers for storing electronic money, for performing money transactions with the on-line systems of the participating banks or for exchanging electronic money with other like transaction devices in off-line transactions; (4) teller devices, associated with the issuing and correspondent banks, for process handling and interfacing the transaction devices to the issuing and correspondent banks, and for interfacing between the issuing and correspondent banks themselves; (5) a clearing bank for balancing the electronic money accounts of the different issuing banks; (6) a data communications network for providing communications services to all components of the system; and (7) a security arrangement for maintaining the integrity of the system, and for detecting counterfeiting and tampering within the system. An embodiment of the invention includes a customer service module which handles lost money claims and links accounts to money modules for providing bank access.
1,184 citations
Patent•
01 Oct 1992TL;DR: An electronic bill payment system and method include billing equipment for creating approval records and generating approval numbers for each pre-authorized subscriber as discussed by the authors, which also includes an interactive payment approval apparatus into which subscribers dial to approve payment and which determines, based upon information collected, whether to initiate electronic funds transfer.
Abstract: An electronic bill payment system and method include billing equipment for creating approval records and generating approval numbers for each pre-authorized subscriber. The system also includes an interactive payment approval apparatus into which subscribers dial to approve payment and which determines, based upon information collected, whether to initiate electronic funds transfer. An approval record data base and a call history log data base are also part of the bill payment system. To approve electronic bill payment a subscriber, once pre-authorized, need only dial up the payment approval apparatus and enter the assigned approval number. A series of security checks and comparisons are performed to guard against accidental and malicious entry of approval numbers. Once all security checks are cleared, a confirmation number is announced to the subscriber, and an electronic funds transfer is initiated.
548 citations
Patent•
27 May 1986
TL;DR: In this paper, the authors present an electronic funds transfer system that assures that funds to be electronically transferred are actually present to be transferred, by sending both the debit side and the credit side of the transaction as described in automated clearing house records to a payor's financial institution or data processor and comparing both records to assure the funds are present before releasing the funds to the payee.
Abstract: The present invention relates to an electronic funds transfer system that assures that funds to be electronically transferred are actually present to be transferred. This is accomplished by sending both the debit side and the credit side of the transaction as described in automated clearing house records to a payor's financial institution or data processor and comparing both records to assure the funds are present before releasing the funds to a payee. The release of funds to a payee is accomplished by the sending of a credit by an automated clearing house record to a payee's financial institution or data processor or by the printing and mailing of a check if the payee is not a member of the automated clearing house.
516 citations
Patent•
23 Jun 1982
TL;DR: In this article, an efficient end-to-end encryption system including key management procedures for providing secure, financial data communication between a system user at one of a plurality of transaction terminals of one of the plurality of acquirer institutions and one of an issuer institutions, with selected elements of the data being encrypted, decrypted and processed using a onetime session key which is similarly encrypted with master keys and efficiently sent along with the specific segments of the request and response messages.
Abstract: An efficient end-to-end encryption system including key management procedures for providing secure, financial data communication between a system user at one of a plurality of transaction terminals of one of a plurality of acquirer institutions and one of a plurality of issuer institutions, with selected elements of the data being encrypted, decrypted, and processed using a onetime session key which is similarly encrypted with master keys and efficiently sent along with the specific segments of the request and response messages. A session key authentication code is utilized to prevent the replay of a previously used session key, thereby precluding undetected message replay or undetected message or data element substitution or insertion.
483 citations
Patent•
04 Aug 1992
TL;DR: In this article, a computer-controlled funds processing and remittance processing system for individual, business and other bank customers is presented, where each participating bank receives, from each participating customer, identifying information regarding bills that are to be paid for that customer with the automated system.
Abstract: A computer-controlled funds processing and remittance processing system, for use by individual, business and other bank customers. The system eliminates the problems associated with batch processing of remittances and remittance advices in lockbox systems. Each participating bank receives, from each participating customer, identifying information regarding bills that are to be paid for that customer with the automated system. After initially collecting all necessary data regarding a participating customer's bills, the bank produces a paper form, which is manually completed by the customer, on a periodic basis. The customer manually inserts the amount to be paid for each bill being processed by the system, opposite pre-printed indicia indicating the identity of the payee. The resulting customer payment instruction document is delivered to the bank, and is optically scanned, to read the specific amounts to be paid for the respective bills. The bank has stored, in computer memory, the names and other identifying information regarding the billers for each customer. Once the customer payment instruction is received and scanned by the bank, which can occur on the day it is received, funds can automatically and promptly be transferred, together with appropriate customer identifying information, to each biller's designated bank and its application, using conventional clearinghouse systems. The invention includes a mailing envelope carrier for the information-containing document.
367 citations