Electronic cash on delivery
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United States of America Patent
Stats
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N/A
Issued Date -
Mar 27, 2003
app pub date -
Sep 24, 2001
filing date -
Sep 24, 2001
priority date (Note) -
Abandoned
status (Latency Note)
Importance
Abstract
The present invention relates to electronic cash on delivery and a system and method for effecting it. The present system and method intervenes during a transaction for possession of an item in exchange for value and provides for a secure communication of value exchange and delivery arrangement. Delivery is predicated upon verification of a payee created password. Value exchange may be sped up in the form of electronic factoring should the payee credit be positive. A second payee credit verification is also performed. The present system and method has application in on-line transactions along with traditional store front transactions, business to business and business to customer transactions.
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