06609113 is referenced by 513 patents and cites 7 patents.

A system and method for effectuating Electronic Funds Transfer credit messages. The main structural components of the system include a Payment Portal Processor (PPP), an Internet Pay Anyone (IPA) Account, a Virtual Private Lockbox (VPL) and an associated Account Reporter, the existing EFT networks, and a cash card for accessing a VPL or IP account. The PPP is a software application that provides a secure portal for accessing (linking to) either the user's Demand Deposit Account (DDA) or an IPA account and can be combined with the functionality of a traditional digital Wallet. Consumers use a PPP enhanced Wallet to fund their account, shop on the web, pay bills, pay anyone, store electronic receipts and transaction history, and check their recent PPP enhanced Wallet activity. The IPA account is a special purpose account with limited functionality for making electronic payments in the form of EFT credit messages. The VPL is a limited function receive only account for receiving electronic payments through the EFT. The Account Reporter is a portal to view transaction history and balance of IPA and VPL accounts, provide online, real-time transaction reports, and to reconciles accounts receivable/purchase records against incoming EFT payment records. A physical card can be associated with either an IPA or VPL account in order to provide PIN debit capability.

Title
Method and system for processing internet payments using the electronic funds transfer network
Application Number
9/497307
Publication Number
6609113 (B1)
Application Date
February 3, 2000
Publication Date
August 19, 2003
Inventor
Adam Hoffman
New York
NY, US
Jessica Burney
New York
NY, US
S Richard Re
Westfield
NJ, US
Vincent D&apos Agostino
New York
NY, US
Denis O&apos Leary
New York
NY, US
Agent
Dickstein Shapiro Morin & Oshinsky
US
Assignee
The Chase Manhattan Bank
NY, US
IPC
G06F 17/60
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