Patent ID: 7209889
Filing Date: 2007-04-24
Classification: G06Q

Abstract:
1. A transaction system connectable to an issuer terminal associated with a redemption location and to an acquirer terminal across the Internet, comprising: a certificate authority module comprising any of a server and a terminal connected to said Internet, said certificate authority module comprising a web portal interface comprising means for defining a virtual certificate having attributes defined by an issuer user having an issuer payment agent associated with said redemption location through said issuer terminal across said Internet, said issuer user defined attributes comprising any of denomination information, certificate design information, redemption rule information and redemption location information, said defined virtual certificate corresponding to a commodity having a value and a first public identifier, wherein said commodity corresponds to any of a product, a service, a coupon, and a reservation, said commodity selected by said issuer user at said issuer terminal in communication with said certificate authority module across said Internet, and wherein said first public identifier is defined by said certificate authority module; a payment agent associated with said certificate authority module; means for adding said defined virtual certificate to a database accessible through a web site connected to the Internet; a certificate issuance module for creation of an issued certificate upon selectable acquisition of said virtual certificate by an acquirer user, having an acquirer payment agent, at said acquirer terminal across said Internet through said web site, for receipt of external payment information sent by said acquirer user from said acquirer terminal, and for transmission of information associated with said issued certificate to a holder, said holder comprising any of said acquirer user and an alternate recipient specified by said acquirer user, wherein said issued certificate comprises said first public identifier, said creation of said issued certificate associated with a private identifier which is assigned at time of said acquisition of said virtual certificate, wherein said private identifier does not appear on said issued certificate, and wherein said first public identifier and said assigned private identifier are stored at said certificate authority module in association with said issued certificate; a certificate authentication module for authorization of a redemption of said issued certificate at said redemption location to said holder of said issued certificate, said holder comprising any of said acquirer user and said alternate recipient of said issued certificate to whom said acquirer user has communicated said private identifier, said authorization based upon a communication from said redemption location to said certificate authority module of said first public identifier from said issued certificate, a communication of said private identifier provided by said holder, and a matching comparison of said first public identifier and said private identifier stored at said certificate authority module; and means to cancel further redemption of said issued certificate at said certificate authority module; wherein funds are transferred from said acquirer payment agent to said certificate authority payment agent upon said selectable acquisition of said virtual certificate by said acquirer user; and wherein said funds are transferred from said certificate authority payment agent to said issuer payment agent upon said redemption of said issued certificate by said holder.