A method and system for merchant indemnification for online...

Details A method and system for merchant indemnification for online... A method and system for merchant indemnification for online...

G - Physics

06

Q

G06Q 20/00 (2006.01) H04L 12/16 (2006.01)

Patent

CA 2479333

A method and system enable indemnification of funds transferred electronically to an end merchant. An intermediary service having a server in communication with an automated clearinghouse system and having a client interface provides an online account for committing an irrevocable transfer of funds to the merchant account of a participating end merchant at the request of a client. Preferably, the intermediary verifies the client's identify and authorization to access the client's source account. In particular, the intermediary can provide an irrevocable transfer of funds to an end merchant substantially instantly upon the request of the payor client.

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