Shared Electronic Wallet With Permissions

摘要

A payment system and method for processing purchases made by a dependent recipient and funded by a payor are provided. The payment system stores conditions set by a payor, and the conditions govern use of the payor's money by the recipient. Purchase transactions within the payment system are initiated by the recipient and approved or rejected by the administrator of the payment system prior to merchant involvement in the process. The administrator approves the purchase request only when the conditions set by the payor have been satisfied, and the merchant is notified of the purchase and paid in response to approval of the purchase request. The administrator rejects the purchase request if the payor conditions are not met, and the administrator notifies the recipient if the purchase request is rejected.

主权项

1. A payment system for processing a purchase requested by a recipient and funded by a payor, the payment system comprising:
a memory for storing account balance information associated with an account funded by the payor and purchase conditions set by the payor; a communication device for receiving a purchase request from the recipient, wherein the purchase request is indicative of the purchase that the recipient desires to make; and a processor coupled to the memory and the communication device for determining whether the purchase request meets the purchase conditions set by the payor and for generating a purchase approval notification when the purchase request satisfies the purchase conditions; wherein the communication device transmits the purchase approval notification to the recipient; and wherein the communication device, subsequent to determining that the purchase request meets the purchase conditions, communicates with a merchant associated with the purchase request to notify the merchant of the purchase and to authorize payment to the merchant for the purchase.