Network-based system

Abstract

The present invention relates to a method of conducting a transaction in a trading system. The invention is particularly directed to a trading system where a merchant sends goods and/or services to a customer when the customer is generally located remotely from the merchant. The invention is also directed towards providing a system for carrying out such transactions. The invention is particularly directed to the carrying out of the financial transactions and is not concerned particularly with the actual method of trading.

1 . A method of conducting a transaction in a trading system, where a merchant sends any of goods and services to a customer, using a customer accounts server; a merchant accounts server; a system services server; a merchant computer having an associated merchant account; a customer computer having an associated customer account; and a telecommunications network interconnecting the customer accounts server, the merchant accounts server, the system services server, the merchant computer, and the customer computer, each having a unique identifier for contact within the telecommunications network, the method comprising the steps of:
 the customer computer opening communications with the merchant computer,   the customer computer communicating its intention to purchase from the merchant computer;   the merchant computer sending a merchant transaction identifier number and payment request to the customer computer;   the customer computer initiating contact with the customer accounts server and sending to the customer accounts server a customer transaction acceptance message which includes the merchant transaction identifier number and the payment request;   the merchant computer initiating contact with the merchant accounts server and sending to the merchant accounts server a merchant transaction acceptance message including the merchant transaction identifier number and the payment request;   the customer accounts server initiating contact with the merchant accounts server and sending to the merchant accounts server a payment acceptance message including the merchant transaction identifier number and the payment request;   the merchant accounts server matching the merchant transaction acceptance message received from the merchant computer and the payment acceptance message received from the customer accounts server, and   the merchant accounts server sending instructions to the system services server to cause payment to the merchant in accordance with an agreed settlement procedure having agreed payment rules.