Payment system

This invention describes a system for making online payments directly from your bank account. When you're buying something, the system temporarily sends your web browser to your bank to sign in, then to a special trusted service that handles the payment authorization. After the payment is approved, this trusted service sends you back to the online store to complete your purchase, and it maintains a database of transaction data for various merchants and banks.

Why it matters: The specific iFrame redirection method for user authentication might be less secure than modern Open Banking APIs. However, the need for a trusted intermediary in direct bank payments has only grown since 2023.

Status: Under examinationA pending application. It has not been granted, and it has not been abandoned.
How hard to build: SpecializedSoftware logic, server infrastructure, database, security.

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