Method and apparatus for ordering goods, services and content over an internetwork using a virtual payment account
A virtual payment system for ordering and paying for goods, services and content over an internetwork is disclosed. The virtual payment system comprises a commerce gateway component ( 52 ) and a credit processing server component ( 53 ). The virtual payment system is a secure, closed system comprising registered sellers and buyers. A buyer becomes a registered participant by applying for a virtual payment account. Likewise, a seller becomes registered by applying for a seller account. A buyer can instantly open an account on-line. That is, the credit processing component ( 53 ) immediately evaluates the buyer's virtual payment card application and assigns a credit limit to the account. Once an account is established, a digital certificate is stored on the registered participant's computer. The buyer can then order a product, i.e., goods, services or content from a seller and charge it to the virtual payment account. When the product is shipped, the seller notifies the commerce gateway component ( 52 ), which in turn notifies the credit processing server that applies the charges to the buyer's virtual payment account. The buyer can settle the charges using a prepaid account, a credit account, or by using reward points earned through use of the virtual payment card. A buyer may create sub-accounts.
1. Computer-readable medium having executable components stored on a buyer computer, a seller computer, a commerce gateway and a credit processing server for purchasing a product from the seller computer using a virtual payment account associated with the buyer computer, wherein the executable components:
(a) create a virtual payment account for a buyer which may be used to pay for products by:
(i) sending buyer application data to said commerce gateway;
(ii) in response to said commerce gateway receiving said buyer application data, said credit processing server determining a credit score for said buyer based upon said buyer application data received from said commerce gateway;
(iii) in response to said credit processing server determining a credit score for said buyer, said credit processing server determining whether said credit score exceeds a threshold credit score;
(iv) in response to said credit processing server determining that said credit score exceeds said threshold credit score, said credit processing server establishing a virtual payment account associated with said buyer and notifying said commerce gateway of the establishment of said virtual payment account; and
(v) in response to said commerce gateway being notified of the establishment of said virtual payment account, said commerce gateway sending a digital certificate to said buyer computer that uniquely identifies said buyer as the registered holder of said virtual payment account; and
(b) purchase said products by:
(i) in response to said seller computer receiving a request from said buyer computer to purchase said product, said seller computer returning a purchase order to said buyer computer;
(ii) in response to said buyer computer receiving said purchase order, said buyer computer identifying said virtual payment account as a payment source for said product and transmitting an authentication request to said commerce gateway, wherein said buyer computer identifies said virtual payment account as a payment source for said product by retrieving the digital certificate associated with said virtual payment account and wherein said digital certificate is included in said authentication request transmitted to said commerce gateway;
(iii) determining at said commerce gateway whether said virtual payment account is associated with said buyer computer and if said virtual payment account is valid;
(iv) in response to determining that said virtual payment account is associated with said buyer computer and that said virtual payment account is valid, said commerce gateway transmitting an account identification container to said buyer computer;
(v) in response to said buyer computer receiving said account identification container, said buyer computer transmitting a purchase confirmation including said account identification container to said seller computer;
(vi) in response to receiving said purchase confirmation, said seller computer transmitting an authorization request to said commerce gateway;
(vii) in response to said commerce gateway receiving said authorization request, said commerce gateway determining whether said virtual payment account may be used to pay for said product;
(viii) in response to said commerce gateway determining that said virtual payment account may be used to pay for said product, said commerce gateway transmitting a transaction authorization from said commerce gateway to said seller computer and charging said virtual payment account for a cost associated with said product; and
(ix) in response to said seller computer receiving said transaction authorization, said seller computer arranging for said product to be provided to a buyer associated with said buyer computer.
2. The computer-readable medium of claim 1 , wherein said digital certificate is stored in the memory of said buyer computer.
3. The computer-readable medium of claim 1 , wherein said digital certificate is retrieved from a secure token.
4. The computer-readable medium of claim 1 , wherein the executable components also create a virtual payment account by:
in response to said commerce gateway receiving application data from said buyer, said credit processing server obtaining identity and credit information for said buyer; and
said credit processing server using said identity and credit information to determine said credit score.
5. The computer-readable medium of claim 4 , wherein said digital certificate is stored in the memory of said buyer computer.
6. The computer-readable medium of claim 4 , wherein said digital certificate is retrieved from a secure token.
7. The computer-readable medium of claim 1 , wherein said executable components settle a virtual payment account transaction by:
in response to said commerce gateway receiving a settlement transaction request from said seller computer, said commerce gateway determining that said settlement transaction request is permissible;
in response to said commerce gateway determining that said settlement transaction request is permissible, said commerce gateway processing said settlement transaction request; and
in response to said commerce gateway processing said transaction request, adjusting a seller account associated with said seller computer.
8. The computer-readable medium of claim 7 , wherein said digital certificate is stored in the memory of said buyer computer.
9. The computer-readable medium of claim 7 , wherein said digital certificate is retrieved from a secure token.
10. The computer-readable medium of claim 7 , wherein the executable components also create a virtual payment account by:
in response to said commerce gateway receiving application data from said buyer, said credit processing server obtaining identity and credit information for said buyer; and
said credit processing server using said identity and credit information to determine said credit score.
11. The computer-readable medium of claim 10 , wherein said digital certificate is stored in the memory of said buyer computer.
12. The computer-readable medium of claim 10 , wherein said digital certificate is retrieved from a secure token.