06098053 is referenced by 514 patents and cites 24 patents.

A system and method for performing an on-line ATM/POS transaction utilizing checking or savings account funds over a public access network is disclosed. The invention comprises creating an electronic financial transaction instruction comprising card information and security information that are encrypted for secure transmission over the public access network. The card information identifies a checking or savings account number of a purchaser. The security information identifies a personal identification number associated with the identified account number that authorizes the use of the account number in an on-line ATM/POS transaction. The financial transaction instruction is decrypted by a financial institution and reformatted to form a transaction request suitable for transmission over an on-line ATM/POS transaction system. The transaction request is then processed like a typical ATM or merchant POS on-line ATM/POS transaction. As such, approval and settlement of the financial transaction instruction is obtained in real time. Thus, the present invention provides an on-line ATM/POS transaction capability utilizing checking or savings account funds from a public access network, such as the Internet or electronic mail.

Title
System and method for performing an electronic financial transaction
Application Number
9/237739
Publication Number
6098053
Application Date
January 26, 1999
Publication Date
August 1, 2000
Inventor
Alan Slater
East Brunswick
NJ, US
Agent
Kilpatrick Stockton
Agent
James J Bindseil
George T Marcou
Assignee
Citibank N A
NY, US
IPC
H04K 1/00
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