The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
Feb. 04, 2014
Filed:
May. 16, 2006
Faramak Vakil, Bedminster, NJ (US);
Vijay K. Varma, Holmdel, NJ (US);
Raquel Morera Sempere, Morristown, NJ (US);
Giovanni Di Crescenzo, Chatham, NJ (US);
Faramak Vakil, Bedminster, NJ (US);
Vijay K. Varma, Holmdel, NJ (US);
Raquel Morera Sempere, Morristown, NJ (US);
Giovanni Di Crescenzo, Chatham, NJ (US);
TTI Inventions C LLC, Wilmington, DE (US);
Abstract
A Secure Virtual Point of Service (SVPOS) that coordinates the authentication, authorization, and identity, settlement, arbitration and non-repudiation for an electronic commercial transaction. For each commercial transaction, both the buyer and merchant authenticate itself to the SVPOS and create two unique transaction encryption keys, one for the buyer and one for the merchant. The merchant uses both encryption keys to encrypt a package that include at least product identification. The merchant and buyer calculate a hash of the package and transmit the calculated hash to the SVPOS for comparison to prevent repudiation. If the calculated hash is identical the buyer receives the merchants encryption key and decrypts the package. Payment is released by the SVPOS if the buyer is satisfied with the package via a Parlay system. If the buyer is not satisfied, said SVPOS performs arbitration between the buyer and merchant to determine if the package is correct.