System and method for on-line payment

Details System and method for on-line payment System and method for on-line payment

G - Physics

06

Q

G06Q 20/02 (2012.01) H04L 12/16 (2006.01)

Patent

CA 2347528

The present invention is a computer based system and method for on-line payment. A completion of a transaction between a shopper and a merchant is conducted through one or two trusted third parties. Both the shopper and merchant may use the same trusted third party or they may use their own trust third party. A trusted third party receives and sends messages to and from the shopper and merchant as well as a payment center. Each message provides encrypted information on the nature of the transaction. The trusted third party does not have the capability to decrypt detailed transaction information and thus is not privy to the nature of the transaction. Should a dispute arise, all parties involved have sufficient encrypted information in the messages to determine the nature of the transaction and the steps concluded.

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