Payment system

Abstract

A payment system transfers funds from a purchaser to a supplier of goods and services. A single use transient credit code provided to the purchaser effects the transfer. The transient credit code is redeemable to a value limited to said transfer of funds thereby preventing subsequent fraudulent use of the code. The payment system apparatus transfers a payment from a purchaser to a supplier of goods and services. The apparatus incorporates a code issue device which keeps track of and generates a list of limited-value, single-use credit codes. The device issues the codes on request, receives notification of use of the codes and marks respective, ones as used. The transfer is done by single-use transient credit codes provided to the purchaser. The codes are redeemable to the value limited to a payment.

1 . A payment system for the transfer of funds from a purchaser to a supplier of goods or services; said transfer effected by means of a transient credit code; a unique access code provided to said purchaser upon making of a payment to an intermediate facilitator; said unique access code provided by a payment system hub on receipt by said payment system hub of at least a portion of said payment; said transient credit code for a selected value obtainable from said payment system hub on presentation thereto by said purchaser of said unique access code; said transient credit code redeemable by a said supplier of goods and services to a value limited to said selected value. 
     
     
         2 . The system of  claim 1  wherein the identity of said purchaser is not linked to said transient access code. 
     
     
         3 . The system of  claim 1  wherein said transient credit code expires on exhaustion of funds allocated to said transient credit code. 
     
     
         4 . The system of  claim 1  wherein said transient credit code expires on completion of said transfer of funds. 
     
     
         5 . The system of  claim 1  wherein said transient credit code is selected via the payment system hub from one or more transient credit code providers at the choice of the purchaser. 
     
     
         6 . The system of  claim 1  wherein said intermediate facilitator orders said access code from said payment system hub on receipt of payment by said purchaser; said payment comprising a selected credit value and a service component. 
     
     
         7 . The system of  claim 6  wherein said selected credit value is equal to or greater than said transfer of funds. 
     
     
         8 . The system of  claim 1  wherein said purchaser selects a value for said transient access code. 
     
     
         9 . The system of  claim 1  wherein said purchaser selects a transient credit code supplier. 
     
     
         10 . A method of payment of a purchase value by a purchaser for a purchase of goods or services from a supplier; said method including the steps of:
 (a) making a payment to an intermediate facilitator; said payment comprising said purchase value and a service charge,   (b) said intermediate facilitator obtaining for said purchaser a unique access code from a payment system hub,   (c) said purchaser acquiring a transient credit code from said payment system hub on presentation of said unique access code,   (d) said purchaser providing said transient credit code to said supplier,   (e) said supplier redeeming a value assigned to said transient credit code.   
     
     
         11 . The method of  claim 10  wherein said supplier redeems at least a portion of the value assigned to said transient credit code. 
     
     
         12 . The method of  claim 10  wherein said payment to said intermediate facilitator is face to face by means of cash. 
     
     
         13 . The method of  claim 10  wherein said payment to said intermediate facilitator is face to face by means of a conventional credit card or any other account through conventional commercial electronic fund transfer at point of sale (EFTPOS). 
     
     
         14 . The method of  claim 10  wherein said unique access code remains obscured from scrutiny by said intermediate facilitator. 
     
     
         15 . The method of  claim 10  wherein said purchaser uses said unique access code to order at least one said transient credit code from said payment system hub; said purchaser selecting a credit value and a transient credit code provider for each said at least one transient credit code. 
     
     
         16 . The method of  claim 15  wherein said payment system hub purchases said at least one transient credit code redeemable for said credit value from said transient credit code provider. 
     
     
         17 . The method of  claim 15  wherein said transient credit code provider is a financial institution. 
     
     
         18 . The method of  claim 10  wherein a redeemable value assigned to any said at least one transient credit code is equal to said purchase value. 
     
     
         19 . The method of  claim 10  wherein each said transient credit code expires when said purchase value is redeemed by use of said transient credit code. 
     
     
         20 . Funds transfer apparatus for transfer of funds from a purchaser of goods or services to a supplier of said goods or services; the apparatus including:
 (a) a payment system hub in electronic communication via a distributed communication system with electronic funds transfer apparatus of at least one intermediate facilitator; said payment system hub adapted to issue a unique access code to a said purchaser,   (b) at least one transient credit code provider in electronic communication with said payment system hub via said distributed communication system; said at least one transient credit code provider adapted to issuing a transient credit code to a said purchaser when said purchaser submits said unique access code to said at least one transient credit code provider.