Patent ID: 8346660

Claim:
A method of processing electronic transactions between user accounts on a designated network, the method comprising: providing a plurality of users each with a user account comprising an account identifier and a financial account, each user account being enabled to execute electronic transactions and receive electronic content; providing a memory storing a database, the database comprising user account information; providing at least one server, the server being in communication with the memory and with a plurality of electronic communication devices, via the designated network, each of the plurality of electronic communication devices being associated with a user; receiving, from a first user via the designated network, data defining an electronic transaction, the data comprising a delivery data part and at least one designation of funds part comprising a payment amount to be transferred between the financial account associated with the first user and a financial account associated with a second user, the data further comprising delivery criteria defining one or more user accounts eligible to execute the electronic transaction; storing the data in the database as data associated with the first user's account; receiving from a second user via the designated network, a request to execute the electronic transaction; comparing the second user's account information to the delivery criteria associated with the electronic transaction; delivering the delivery data part of the electronic transaction to an electronic communications device associated with the second user in a manner to enable the second user's electronic communications device to process the delivery data and transferring at least a portion of the payment amount between the first user's financial account and the second user's financial account if and only if the second user's account information is compatible with the delivery criteria associated with the electronic transaction; and storing, in the database, data describing the second user's interaction with the electronic transaction.