MULTI-TIER TRANSACTION PROCESSING METHOD AND PAYMENT SYSTEM IN M AND E-COMMERCE

摘要

A server executes a protocol that automates transactions involving a customer and a merchant agreeing to trade money in the customer's account for goods or services available from the merchant. The protocol protects personal identifying information of the customer from disclosure to the merchant, and protects all parties from repudiation of the specific transaction. The protocol defines a pre-authenticated form of the specific transaction; obtains authorization from the customer and the merchant to commit on their behalf to the pre-authenticated transaction; and obtains authorization from the bank to commit resources for settlement with the merchant. After obtaining authorizations, a transaction clearance code is generated completing a record of the pre-authenticated transaction for non-repudiation, for proof of a right to receive settlement from the third party and for proof of a right to receive the goods or services from the merchant.