FRAUD-FREE PAYMENT FOR INTERNET PURCHASES

摘要

A simple, non-intrusive, fraud free payment method for customers to makeInternet purchases without using credit cards or revealing personalinformation. Customers purchase any dollar amount of pay codes via on-linepurchase by logging into their financial institution (13) and purchasing thecodes, via phone banking (using mobile phone or fixed telephone line) or viaAutomated Teller Machine (ATM). There is no need for the customer to open anaccount with the payment service. The easy and fast set-up of a secure paymentgateway for website merchants to receive payments for their goods purchased attheir websites, eliminates the need of setting up a merchant account,chargeback and being penalized by banks for chargeback on sales. The amountdue to the web merchant from the Internet transaction is credited directlyinto the merchant's bank account when the transaction and payment is approvedby the customer's bank.