System and method for the execution of third party services transaction over financial networks through a virtual integrated automated teller machine on an electronic terminal device.

摘要

Disclosed is an automated computerized system and customer facing electronic device screen interface that acts as virtual integrated automated teller machine, referred to herein as the iATM system. The iATM system enables electronic terminal device users to request and authorize their preferred financial services through the existing automated teller machine (ATM) and point-of-sale (POS) networks by automating non bank third party financial services transactions on the electronic terminal device. The iATM system utilizes an aggregate of personal and third party services information, multifactor authentication and non-depository virtual accounts, acting as temporary transaction accounts, to enable transaction acquiring processors and third party service providers to give electronic device users access to third party services over financial networks, utilizing a new and novel method that requires no modifications to the existing ATM and POS network infrastructure.

主权项

1. A new method and system comprised of a plurality of instructions that, when executed by one or more processors, causes the processors to perform acts including: the issuance of a third party service's financial transaction over financial networks, comprising:
a. Providing access for initiating a financial transaction system for the execution of the third party service's financial transaction through a financial network as requested by an individual, and b. Providing access for initiating the financial transaction system for the settlement of the third party service's financial transaction as requested by an individual over financial networks utilizing acquiring processors, merchant vendors, financial instrument issuing banks and third party service providers. c. Providing access to a new use data set for the identification and authorization of an individual's request of the third party service's financial transaction utilized by the financial networks' transaction system. d. Providing access to a new use data set for the identification and authorization of the requested third party service's financial transaction utilized by the third party service providers. e. Providing access to a new use data set for the identification and authorization of the requested third party service's financial transaction utilized by an acquiring processor. f. Providing access to a new use data set for the identification and authorization of the requested third party service's financial transaction utilized by a merchant vendor servicing third party service's financial transactions. g. Providing access to a new use data set for the identification and authorization of the requested third party service's financial transaction utilized by an individual's depository account for settlement of the third party service's financial transaction. h. Providing access to a new use data set for the identification and authorization of the requested third party service's financial transaction utilized by the individual's financial instrument issuer. i. Providing access to a new use data set that is compatible with the financial network's messaging protocols.Whereby the individual's requests for the transaction with the third party service provider other than a direct bank or merchant vendor servicing third party service's financial transactions transaction can than be carried out on existing financial networks.