Patent ID: 8412625
Filing Date: 2013-04-02
Classification: G06Q

Abstract:
1. A system to process commercial transactions between multiple merchants previously registered to the system and eager of selling products and services and users desiring to purchase said products or services from said registered merchants; said users being able to use a plurality of channel devices for initiating said commercial transactions without supplying more than once sensitive financial and personal payment data; said system automatically generates real time Point of Sale (POS) financial payment electronic transactions to credit merchants' bank accounts and debit user's elected payment instrument; said electronic transactions being automatically generated using data of merchants and data of users that have been previously entered and stored in the system on multiple database servers; said system comprising one or more computer and a computer memory combined with a processor; said computer memory is capable of storing instructions to process commercial transactions between users and merchants without: negotiations between the merchants and the users; using a third party intermediary; the users holding a monetary account within the system; granting user's credit line or holding of a credit source; processing ACH (automated Clearing House) transactions; the users maintaining multiple payment instrument accounts within the system; the need of the users to use a computer or a web browser; the merchants having a web server in operation; the merchants receiving payment information from the users; the users sending payment information to the merchants; interaction between the user's and the merchant's computer systems; and wherein said computer stored instructions allow said users to perform the functions of: