Patent ID: 7533058

Claim:
A method of accounting an electronic transaction, wherein the transaction is initiated by a payer from an electronic terminal, the method comprising: delivering to an accounting system: a transaction code describing a type of transaction, an amount describing a value of the transaction, a payer's ID assigned to a payer, and a payee's ID assigned to a payee, wherein the transaction code, the amount, the payer's ID, and the payee's ID are delivered to between the electronic terminal and the accounting system; verifying, via the accounting system, whether the payer is an authorized user, whether a beneficiary with the payee's ID exists and what types of transactions are handled by the beneficiary, and whether the amount is available in a payment account of the payer; sending from the accounting system cumulative information regarding the transaction to the payer, wherein the cumulative information preferably contains extended information on the transaction; requesting the payer to accept the transaction, by sending an acceptance for the transaction; effecting accounting of the transaction on the payment account via the accounting system; sending acknowledgment of payment to the payee, including additional information on the payer, which is not directly related to transaction accounting; and sending well as acknowledgment of the transaction to the payer, including additional information delivered to the accounting system by the payee.