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 is disclosed. The virtual payment system includes a commerce gateway. Buyers and sellers becomes registered participants by applying for virtual payment buyer and seller accounts. Once an account is established with the commerce gateway, 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, 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 account. A buyer may create sub-accounts.

We claim: 
     
         1 . A system for creating a virtual payment account for a buyer, the system comprising: a commerce gateway operative to: receive application data from said buyer; determine a credit score for said buyer based upon said application data; determine whether said credit score exceeds a threshold credit score; in response to determining that said credit score exceeds said threshold credit score, establish a virtual payment account associated with said buyer; and install a digital certificate on a buyer computer associated with said buyer that uniquely identifies said buyer as the registered holder of said virtual payment account. 
     
     
         2 . The system of  claim 1 , wherein said commerce gateway is further operative to: in response to receiving said application data from said buyer, determine an identify score for said buyer based upon said application data; determine whether said identify score exceed a threshold identity score; and in response to determining that said identity score exceeds said threshold identity score, then proceeding to determine a credit score. 
     
     
         3 . The system of  claim 1 , wherein said buyer computer is further operative to install a digital certificate by generating a public key encryption pair having a private key and a public key; and transmit said public key to said commerce gateway; and wherein said commerce gateway is further operative to certify said public key to generate said digital certificate and transmit said digital certificate to said buyer computer for storage. 
     
     
         4 . A system for settling at a virtual payment account transaction, comprising: a commerce gate way operative to: receive a settlement transaction request from a seller computer; determine whether said settlement transaction request is permissible; in response to determining that said at least one settlement transaction request is permissible, process said at least one settlement transaction request; and in response to processing said at least one transaction request, adjust a seller account associated with said seller computer.