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Technology used to perform financial transactions over a network

A technology of financial transactions, technology, applied in the technical field for executing financial transactions through the network, which can solve problems such as the unlikely replacement of existing financial facilities by new financial facilities, and the difficulty for customers to use financial facilities, etc.

Inactive Publication Date: 2011-12-28
INTUIT INC
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  • Summary
  • Abstract
  • Description
  • Claims
  • Application Information

AI Technical Summary

Problems solved by technology

Specifically, online customers often do not have access to unique financial facilities for a given business, let alone the different variants used by other businesses
These barriers make it difficult for customers to use existing financial facilities to perform secure online financial transactions
In addition, the large investments made by businesses and financial institutions in existing financial facilities make it unlikely that businesses will solve the problem by replacing existing financial facilities with new ones

Method used

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  • Technology used to perform financial transactions over a network
  • Technology used to perform financial transactions over a network
  • Technology used to perform financial transactions over a network

Examples

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Embodiment Construction

[0021] The following description is presented to enable any person skilled in the art to make and use the invention and is presented in the context of a particular application and its requirements. Various modifications to the disclosed embodiments will be readily apparent to those skilled in the art, and the general principles defined herein may be applied to other embodiments and applications without departing from the spirit and scope of the invention. Thus, the present invention is not intended to be limited to the embodiments shown but is to be accorded the widest scope consistent with the principles and features disclosed herein.

[0022] Embodiments of a system (such as a computer system), a method, and a computer program product (eg, software) for use in conjunction with a computer system are described. These embodiments can be used to perform financial transactions over a network. Specifically, the system allows customers to execute financial transactions with multip...

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PUM

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Abstract

Embodiments of a system (such as a computer system), a method, and a computer-program product (e.g., software) for use with the computer system are described. These embodiments may be used to perform financial transactions over a network. In particular, the system allows customers to use personal PIN pads when conducting financial transactions (such as debit-card transactions) with multiple merchants and their associated acquirer processors (which assist the merchants in processing financial transactions), even though different groups of merchants and acquirer processors may use different encryption techniques. For a given financial transaction, this capability may be implemented by decrypting financial information associated with a personal PIN pad from a customer and re-encrypting it using a separate encryption technique of a merchant and the associated acquirer processor.

Description

technical field [0001] The present invention relates to techniques for performing financial transactions over a network. Background technique [0002] Businesses and financial institutions have invested heavily in financial infrastructure, including hardware and software, to support the secure processing of financial transactions between customers and businesses. For example, many businesses have front-end processors (such as point-of-sale terminals) that receive customer financial information (such as credit or debit card information) associated with financial transactions. These front-end processors communicate customer financial information to back-end processors (sometimes referred to as "acquirer processors"), which in turn interact with financial institutions to determine whether to approve or deny a given financial transaction. [0003] Unfortunately, different businesses and financial institutions use different variants of financial facilities, and these variants ar...

Claims

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Application Information

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IPC IPC(8): G06Q40/00G06Q20/00H04L9/00
CPCG07F7/1091G06Q20/12G06Q20/4012H04L9/3226G06Q20/40H04L2209/56
Inventor R·L·萨特
Owner INTUIT INC