Method and apparatus for ordering goods, services and content over an internetwork using a virtual payment account

Abstract

A virtual payment system for paying for goods, services and content ordered over an internetwork comprising a commerce gateway component and a credit processing server component ( 53 ) is disclosed. Buyers and sellers becomes registered participants by applying for virtual payment buyer and seller accounts. Once an account is established, a digital certificate is stored on the registered participant's computer. A buyer can then order a product, i.e., goods, services or content from a seller and charge it to the virtual payment account. When the product is shipped, the seller notifies the commerce gateway component, which in turn notifies the credit processing server, which applies the charges to the buyer's virtual payment account. The buyer can settle the charges using a prepaid account, a credit account, or by using reward points earned through use of the virtual payment card. A buyer may create sub-accounts.

1 . Computer-readable medium having executable components stored on a buyer computer, a commerce gateway, and a credit processing server for creating a virtual payment account for a buyer that may be used to pay for products ordered over an internetwork, wherein the executable components create the virtual payment account by:
 sending a buyer application to the commerce gateway;   in response to the commerce gateway receiving the buyer application data, the credit processing server determining a credit score for the buyer based on the buyer application data;   the credit processing server determining whether the credit score exceeds a threshold credit score;   in response to determining that the credit score exceeds the threshold credit score, the credit processing server establishing a virtual payment account associated with the buyer and notifying the commerce gateway of the establishment of the virtual payment account; and   in response to the commerce gateway being notified of the establishment of the virtual payment account, the commerce gateway sending a digital certificate to the buyer computer that uniquely identifies the buyer as the registered holder of the virtual payment account.   
     
     
         2 . The computer-readable medium of  claim 1  wherein the digital certificate is stored in the memory of the buyer computer. 
     
     
         3 . The computer-readable medium of  claim 1  wherein the digital certificate is stored in a secure token. 
     
     
         4 . The computer-readable medium of  claim 1  wherein the executable components also create the virtual payment account by:
 in response to the commerce gateway receiving application data from the buyer, the credit processing server obtaining identity and credit information for the buyer; and   the credit processing server using the identity and credit information to determine the credit score.   
     
     
         5 . The computer-readable medium of  claim 3  wherein the digital certificate is stored in the memory of the buyer computer. 
     
     
         6 . The computer-readable medium of  claim 4  wherein the digital certificate is stored in a secure token.