18119554. METHOD AND SYSTEM FOR PROVIDING HOSTED PORTALS simplified abstract (JPMorgan Chase Bank, N.A.)
Contents
METHOD AND SYSTEM FOR PROVIDING HOSTED PORTALS
Organization Name
Inventor(s)
Takashi Dohkoh of Hyogo-Ken (JP)
Kokoro Yamada of Kanagawa-Ken (JP)
Ithihas Mangalore Nagaraj of Bangalore (IN)
Prathmesh Gandhi of Mumbai (IN)
METHOD AND SYSTEM FOR PROVIDING HOSTED PORTALS - A simplified explanation of the abstract
This abstract first appeared for US patent application 18119554 titled 'METHOD AND SYSTEM FOR PROVIDING HOSTED PORTALS
The abstract describes a method for providing a hosted portal to facilitate secured payouts. This method involves receiving a refund request from a first user to a second user, along with user and transaction information, generating a hyperlink for the second user, validating the request, transmitting the hyperlink to the second user, receiving payout information from the second user, and automatically initiating a transaction based on the information provided.
- Hosted portal for secured payouts
- Refund request from first user to second user
- Generation of a hyperlink for the second user
- Validation of the request using user information
- Transmission of the hyperlink to the second user
- Receipt of payout information from the second user
- Automatic initiation of a transaction based on the information provided
Potential Applications: - E-commerce platforms - Peer-to-peer payment systems - Online marketplaces
Problems Solved: - Facilitating secure transactions - Streamlining refund processes - Enhancing user experience
Benefits: - Increased security for payouts - Improved efficiency in processing refunds - Simplified transaction management
Commercial Applications: Title: "Enhanced Secure Payout System for Online Transactions" This technology could be utilized by various online platforms to ensure secure and efficient payout processes, ultimately enhancing user trust and satisfaction.
Questions about the technology: 1. How does this method improve the security of online transactions? 2. What are the potential cost-saving benefits for businesses implementing this system?
Original Abstract Submitted
A method for providing a hosted portal to facilitate secured payouts is disclosed. The method includes receiving, via the hosted portal, a request from a first user, the request including a refund request from the first user to a second user, user information, and transaction information; generating a hyperlink for the second user based on the transaction information, the hyperlink referencing the hosted portal; validating the request by using the user information; transmitting, via a communication channel, the hyperlink to the second user based on a result of the validating; receiving, via the hosted portal, payout information from the second user; and automatically initiating a transaction based on the transaction information and the payout information.
