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Method and system for transferring an electronic payment

DC CAFC
  • US 8,396,808 B2
  • Filed: 12/17/2009
  • Issued: 03/12/2013
  • Est. Priority Date: 07/31/2009
  • Status: Active Grant
First Claim
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1. A method for transferring an electronic payment between a purchaser and a merchant comprising:

  • assigning a role of a merchant account to a first account and a role of a purchaser account to a second account within a payment system wherein the first account and the second account are adapted to selectively function as either a merchant account or a purchaser account during any particular transaction;

    adding an item offered for sale by the merchant from a product catalog stored in the payment system to a purchase list;

    obtaining a user ID token of the purchaser from a merchant terminal, the merchant terminal being at a merchant location and the merchant location being different from the payment system;

    communicating identity confirmation information associated with the user ID token to the merchant terminal; and

    transferring funds for a purchase price total from the purchaser account to the merchant account.

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