[3081] in cryptography@c2.net mail archive
First Virtual discontinues
daemon@ATHENA.MIT.EDU (Anonymous)
Sun Jul 26 15:33:03 1998
Date: Sun, 26 Jul 1998 18:53:47 +0200
From: Anonymous <nobody@replay.com>
To: cryptography@c2.net
First Virtual is giving up on their payment system:
> Dear First Virtual Customer:
>
> Thank you for your past business with us. First Virtual
> Holdings is transitioning its efforts to a new product, the
> Interactive Messaging Platform (IMP). The IMP is an
> integrated system for relationship-based transactive
> messaging using standard e-mail. With this new focus, the
> Internet Payment System (IPS) and your VirtualPIN will be
> discontinued on August 17, 1998.
Ironically, their patent on the failed payment system was just issued
a couple of months ago:
> 5757917 : Computerized payment system for purchasing goods and services
> on the internet
>
> INVENTORS:
> Rose; Marshall T., Mountain View, CA
> Stein; Lee H., Rancho Santa Fe, CA
> Borenstein; Nathaniel S., Ann Arbor, MI
> Lowery; Carlyn M., Pedaluma, CA
> New; Darren, Del Mar, CA
> Stefferud; Einar, Huntington Beach, CA
> ASSIGNEES:
> First Virtual Holdings Incorporated, San Diego, CA
> ISSUED:
> May 26, 1998
> FILED:
> Nov. 1 , 1995
>
> ABSTRACT: A method and system for use on a quasi-public network, such
> as the Internet, to enable users of the network to conduct commercial
> transactions involving a payment of funds by one user to another user of
> the network. The method includes operating a computer system for sending
> and receiving messages from users over the network. Upon receiving a
> message over the network from a qualified user-seller, a message is sent
> over the network to the user-buyer that was identified in the message from
> the user-seller. The message to the user-buyer requests confirmation of a
> transaction identified in the message received from the user-seller. Upon
> receiving a confirmation over the network from the user-buyer, payment
> information is sent by secure channels off the network to an agent of
> the user-seller. The user-seller's agent may be a separate entity or the
> function of the user-seller's agent may be performed by the transaction
> enabling system. Upon receipt of an authorization code from the seller's
> agent, the authorization code is encrypted and sent to the user-seller
> over the network.
