VIRTUAL CREDIT CARD TERMINAL AND METHOD OF TRANSACTION

摘要

The present invention relates to a method of making a transaction with a credit card on a virtual terminal displayed on a computer screen for goods or services purchased over the internet. The virtual credit card terminal includes a card reader, a processor such as a personal computer, and transaction programs for running an interactive terminal window. Upon election to pay by credit card, the merchant launches a Java applet program on the purchaser's personal computer to open an interactive terminal window. Information is entered and encrypted and sent through a gateway to the purchaser's credit card bank. The relevant bank processes the transaction and provides the gateway with indication whether the transaction is approved. The gateway serves to coordinate and accumulate information from the purchaser and the merchant. The gateway also interacts through suitable boundary protocols with the electronic sections of the bank.