Patent ID: 6701303
Filing Date: 2004-03-02
Classification: G06Q

Abstract:
An E-commerce system for conducting electronic transactions comprising:at least one end user coupled to open distributed information network or Internet for conducting electronic transactions; at least one retailer coupled to the Internet for conducting electronic transactions with multiple users through a server on the Internet; a financial institution coupled to the network and serving as an independent intermediary in electronic transactions conducted between the end user and the retailer; means for conducting end user authorized electronic transactions for purchases made by the end user from the retailer via an Internet session and selecting as one option a â€œcheckâ€  or data messages as an intent to pay for the purchases by the user the end user or the retailer authenticating one another; means for preparing a request for payment by the retailer for the purchases made by the end user and submitting the request directly to the financial institution; and means providing the end user a list of the end user authorized transactions for approval or rejection whereby approval of the authorized transaction authorizes payment to the retailer and rejection erases the transaction from the list.