Scalable, secure cash payment system, method and article of...

Details Scalable, secure cash payment system, method and article of... Scalable, secure cash payment system, method and article of...

G - Physics

06

Q

G06Q 20/22 (2012.01) G06Q 20/12 (2012.01) H04L 12/16 (2006.01)

Patent

CA 2303723

A cash payment system and method for effecting commercial transactions using public communication system like Internet and utilizing a hybrid of an encryption technology and a recordable, USB port connectable microprocessor devices. A computer system will issue a series of digital cash points, which may be purchased at par value by a customer having an account with the system administrator. Cash points will be used by customers to acquire goods and services from the Internet merchant sites. System administrator will re-purchase cash points at set value for cash at the point of transaction. By eliminating seller's requirement to obtain customer's financial information in order to complete transaction, the system will particularly protect privacy of the buyer.

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