Title:
SYSTEMS AND METHODS FOR FACILITATING COMMERCIAL TRANSACTIONS BETWEEN PARTIES RESIDING AT REMOTE LOCATIONS
Document Type and Number:
WIPO Patent Application WO2001033522
Kind Code:
A9
Abstract:
The present invention provides a system and method for facilitating commercial transactions involving the exchange of monetary value for goods, services, or other value betwee remote individuals, as in the case of transactions between users of a distributed computer network such as the Internet. Remote individuals are provided with a convenient, cost-efficient, and secure means for engaging in commercial transactions with one another. The invention provides remote sellers with an irrevocable means of receiving funds from a remote purchaser; means for improving purchaser willingness to transact with an unknown party; transaction tracking; and rapid funds availability. The invention also provides remote purchasers with means for making a secure; means for releasing funds to a seller only after approval of the goods, services, or other value; means for demonstrating proof of payment; and means for having some level of recourse of recourse against a remote seller.
Inventors:
ARMES DAVID
BARRETT MICHAEL R
BISHOP FRED
GEBB LUCAS
KRISHNAN VILAYANUR PARAMESWARA
MADHINENI MADHUKAR
MCKAY JOSHUA B
WOJCIECHOWSKI LEE A
BARRETT MICHAEL R
BISHOP FRED
GEBB LUCAS
KRISHNAN VILAYANUR PARAMESWARA
MADHINENI MADHUKAR
MCKAY JOSHUA B
WOJCIECHOWSKI LEE A
Application Number:
PCT/US2000/030483
Publication Date:
May 16, 2002
Filing Date:
November 02, 2000
Export Citation:
Assignee:
AMERICAN EXPRESS TRAVEL RELATE (US)
International Classes:
G06Q40/00; (IPC1-7): G07F7/10; G06F17/60
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