System and method for collecting financial transaction data

Abstract

The present invention is a system and method for collecting transaction data. A system for collecting transaction data in accordance with the invention includes at least one transaction provider ( ) which provides at least an electronic receipt of financial transactions offered by each transaction provider; at least one user device ( ), in communication with each transaction provider, which provides to each transaction provider a selection by a user of the user device of an offered financial transaction and in response to receipt of an acceptance of the financial transaction recorded in the received electronic receipt; and at least one user information system ( ), coupled to at least one of the at least one transaction provider or the at least one user device, which stores at least electronic receipts which are received from the at least one user device or the at least one transaction provider which are verified by the user information system to have been accepted by the user of the user device. At least one intermediate service provider ( ) may be coupled to the at least one transaction provider processes information relating to the accepted financial transactions transmitted to the at least one intermediate service provider to produce processed information pertaining to the accepted financial transactions.