07089208 is referenced by 352 patents and cites 29 patents.

A system and method for facilitating a value exchange transaction. A first party initiates the transaction by selecting or providing an identifier of another party and the value to be exchanged. The second party may be identified by a pre-existing identifier such as an electronic mail address, telephone number, etc. The system informs the second party of the transaction (e.g., using the specified pre-existing identifier). If the second party is not a registered user of the system, he or she is invited to register and complete the transaction. The system may comprise a synchronization server for exchanging transaction details with users' devices, a communication server for registering new users and/or conducting transactions online and a financial server for interacting with external financial institutions.

Title
System and method for electronically exchanging value among distributed users
Application Number
9/560215
Publication Number
7089208 (B1)
Application Date
April 28, 2000
Publication Date
August 8, 2006
Inventor
Scott Alan Banister
Menlo Park
CA, US
Peter Thiel
Palo Alto
CA, US
Luke Paul Nosek
Palo Alto
CA, US
Max Levchin
Palo Alto
CA, US
Agent
Park Vaughan & Fleming
Assignee
PayPal
CA, US
IPC
G06Q 40/00
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