Patent ID: 6324526
Filing Date: 2001-11-27
Classification: G06Q

Abstract:
A method of performing secure credit card purchases, said method comprising the steps of:a) contacting a custodial authorizing entity having custodial responsibility of account parameters of customer's credit card account;b) supplying the custodial authorizing entity with at least account identification data;c) defining a plurality of payment categories, at least one of said payment categories including at least two of said purchase authorization for a repeating transaction at a fixed amount payable at each of a fixed number of time intervals;d) designating at least one of said payment categories:e) generating a transaction code reflecting at least said designated payment category and a purchase authorization within said designated payment category;f) communicating the transaction code to a merchant to consummate a purchase within defined purchase parameters;g) verifying that said defined purchase parameters are within said designated payment category; andh) obtaining said purchase authorization so as to confirm that said defined purchase parameters are within said designated payment category and complete the purchase.