Secure and efficient payment processing system

摘要

A method is provided for carrying out commercial transactions. The method includes the steps of: establishing a transaction processing system on an electronic communications network; establishing an account within the transaction processing system for a corresponding account holder; obtaining from the account holder a session description of acceptable future commercial transactions related to the account; administering commercial transactions carried out via the transaction processing system; and, verifying that administered commercial transactions related to the account meet one or more of the session description.

主权项

1. A method for carrying out commercial transactions, said method comprising the steps of:
(a) establishing a transaction processing system on an electronic communications network; (b) establishing an account within the transaction processing system for a corresponding account holder; (c) obtaining from the account holder a definition of a session, the definition describing a plurality of future commercial transactions related to the account to be collectively authenticated; and, (d) administering commercial transactions carried out via the transaction processing system, the administering including:
(i) authenticating account holders performing the commercial transactions using an authentication process;(ii) determining whether commercial transactions related to the account are part of the session using the definition;(iii) in response to determining a commercial transaction is part of the session, bypassing the authentication process for the commercial transaction;(iv) authenticating the account holder for the session using the authentication process, wherein the authentication for the session is performed once.