Welcome!

News Feed Item

A safer way to online shop

New online payment method would eliminate fraud, help secure Cyber Monday sales

DALLAS, Nov. 16, 2012 /PRNewswire-iReach/ -- As soon as Kara Miller spotted the Kate Spade handbag on eBay, she knew she had to have it.

But when the bag arrived, it bore little resemblance to the online photos she had studied. It was clearly a fake. Miller lost the money and has not purchased anything from eBay since the incident several years ago.

"It was disappointing," said Miller, a marketing executive in Dallas. "Honestly, I didn't even bother trying to get my money back because I figured it would be a losing battle."

Miller's experience has long been a frustrating downside in consumer-to-consumer sale sites. But a new tool developed by an Olympic gold medalist could have prevented the fraud from occurring while providing protection to buyers and sellers.

Called Secure Trans, this new payment and inspection method could change how sales are made on sites such as eBay or Amazon.

Here's how it will work: Rather than shipping an item directly to the buyer, the seller would ship it to a neutral location, such as a retail store. The buyer would go to the store and inspect the item while being monitored by cameras and store employee. The buyer could accept the item and finalize the payment, or reject and have it shipped back to the seller.

Steve Lundquist, an Atlanta businessman and 1984 winner of two Olympic gold medals in swimming, developed the idea for Secure Trans after a friend purchased tickets to an Aerosmith concert. The tickets arrived too late, and the friend missed the concert. It took three months for him to recover the money.

"I thought, 'There has got to be a better way,'" Lundquist said. "A lot of people avoid person-to-person sales websites because they are worried about fraud."

Lundquist enlisted the help of Scott Hemingway, a Dallas attorney, who secured patents for Secure Trans.

"This patented technology will fundamentally change how consumers make online transactions in the future," said Hemingway, who specializes in intellectual property cases. "This eliminates fraud on both ends and provides consumers with a safer, more secure way to shop online."

Lundquist and Hemingway plan to implement the program with jewelry, watches, and collectibles but hope to expand to other high-end items, such as electronics and valuable memorabilia.  The patented method could eventually help further the reach of sites such as Craigslist and online classifieds that now tend to involve local sales.

The partners are meeting with executives from various carriers and large retail stores that could serve as neutral inspection sites.  Businesses would receive a small fee, Lundquist said, but the real benefit would lie in the additional foot traffic.

"People would come in and remember they need milk, bread or whatever," he said. "Businesses would need no extra staffing to do this, but would see more foot traffic."

Currently, companies such as eBay and Amazon have procedures for sellers and buyers to appeal cases, Hemingway said, but the process can be lengthy and often unsatisfying.

Secure Trans would streamline the process and protect buyers, sellers and companies. 

"This will revolutionize person-to-person sales and guarantee safe, secure transactions with immediate dispute resolution."  Lundquist said.  "This takes fraud out of the picture."

About

Steve Lundquist is an Atlanta business executive. Lundquist won two gold medals in 1984 in the 100-meter breaststroke and the 400-meter medley relay. He is a graduate of Southern Methodist University, and he earned an MBA from Northwestern University.

Scott Hemingway is a partner in Hemingway & Hansen, an intellectual property law firm in Dallas. In his 20-year career, Hemingway has litigated patent, copyright and trademark disputes in U.S. Federal Court. Hemingway has extensive experience patenting semiconductor and computer-related inventions but also has worked on cases related to thermoelectric storage containers, aluminum baseball bat designs and frozen food preparation techniques.

Media Contact:

Scott Hemingway Hemingway & Hansen, 214-292-8301, [email protected]

News distributed by PR Newswire iReach: https://ireach.prnewswire.com

SOURCE Hemingway & Hansen

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
If a machine can invent, does this mean the end of the patent system as we know it? The patent system, both in the US and Europe, allows companies to protect their inventions and helps foster innovation. However, Artificial Intelligence (AI) could be set to disrupt the patent system as we know it. This talk will examine how AI may change the patent landscape in the years to come. Furthermore, ways in which companies can best protect their AI related inventions will be examined from both a US and...
The challenges of aggregating data from consumer-oriented devices, such as wearable technologies and smart thermostats, are fairly well-understood. However, there are a new set of challenges for IoT devices that generate megabytes or gigabytes of data per second. Certainly, the infrastructure will have to change, as those volumes of data will likely overwhelm the available bandwidth for aggregating the data into a central repository. Ochandarena discusses a whole new way to think about your next...
Charles Araujo is an industry analyst, internationally recognized authority on the Digital Enterprise and author of The Quantum Age of IT: Why Everything You Know About IT is About to Change. As Principal Analyst with Intellyx, he writes, speaks and advises organizations on how to navigate through this time of disruption. He is also the founder of The Institute for Digital Transformation and a sought after keynote speaker. He has been a regular contributor to both InformationWeek and CIO Insight...
Behera Rasananda is a technologist, a leader, a key note speaker has more than 20 years experience in across Government, Financial, Heath Care and Insurance Verticals. Mr. Behera has vast experience in Enterprise Cloud and Big Data solutions and Enterprise Architecture. Currently he works closely for Government Solutions on Enterprise Cloud for Federal Government Agency. Scientist Behera managed and partner with clients to make complete end to end solution and Migration to cloud both private sec...
All zSystem customers have a significant new business opportunity to extend their reach to new customers and markets with new applications and services, and to improve the experience of existing customers. This can be achieved by exposing existing z assets (which have been developed over time) as APIs for accessing Systems of Record, while leveraging mobile and cloud capabilities with new Systems of Engagement applications. In this session, we will explore business drivers with new Node.js apps ...
In this presentation, you will learn first hand what works and what doesn't while architecting and deploying OpenStack. Some of the topics will include:- best practices for creating repeatable deployments of OpenStack- multi-site considerations- how to customize OpenStack to integrate with your existing systems and security best practices.
Cloud applications are seeing a deluge of requests to support the exploding advanced analytics market. “Open analytics” is the emerging strategy to deliver that data through an open data access layer, in the cloud, to be directly consumed by external analytics tools and popular programming languages. An increasing number of data engineers and data scientists use a variety of platforms and advanced analytics languages such as SAS, R, Python and Java, as well as frameworks such as Hadoop and Spark...
The now mainstream platform changes stemming from the first Internet boom brought many changes but didn’t really change the basic relationship between servers and the applications running on them. In fact, that was sort of the point. In his session at 18th Cloud Expo, Gordon Haff, senior cloud strategy marketing and evangelism manager at Red Hat, will discuss how today’s workloads require a new model and a new platform for development and execution. The platform must handle a wide range of rec...
The technologies behind big data and cloud computing are converging quickly, offering businesses new capabilities for fast, easy, wide-ranging access to data. However, to capitalize on the cost-efficiencies and time-to-value opportunities of analytics in the cloud, big data and cloud technologies must be integrated and managed properly. Pythian's Director of Big Data and Data Science, Danil Zburivsky will explore: The main technology components and best practices being deployed to take advantage...
Bill Schmarzo, Tech Chair of "Big Data | Analytics" of upcoming CloudEXPO | DXWorldEXPO New York (November 12-13, 2018, New York City) today announced the outline and schedule of the track. "The track has been designed in experience/degree order," said Schmarzo. "So, that folks who attend the entire track can leave the conference with some of the skills necessary to get their work done when they get back to their offices. It actually ties back to some work that I'm doing at the University of ...
DXWorldEXPO LLC, the producer of the world's most influential technology conferences and trade shows has announced the 22nd International CloudEXPO | DXWorldEXPO "Early Bird Registration" is now open. Register for Full Conference "Gold Pass" ▸ Here (Expo Hall ▸ Here)
Enterprises are universally struggling to understand where the new tools and methodologies of DevOps fit into their organizations, and are universally making the same mistakes. These mistakes are not unavoidable, and in fact, avoiding them gifts an organization with sustained competitive advantage, just like it did for Japanese Manufacturing Post WWII.
More and more companies are looking to microservices as an architectural pattern for breaking apart applications into more manageable pieces so that agile teams can deliver new features quicker and more effectively. What this pattern has done more than anything to date is spark organizational transformations, setting the foundation for future application development. In practice, however, there are a number of considerations to make that go beyond simply “build, ship, and run,” which changes how...
@DevOpsSummit at Cloud Expo, taking place November 12-13 in New York City, NY, is co-located with 22nd international CloudEXPO | first international DXWorldEXPO and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time t...
DevOps with IBMz? You heard right. Maybe you're wondering what a developer can do to speed up the entire development cycle--coding, testing, source code management, and deployment-? In this session you will learn about how to integrate z application assets into a DevOps pipeline using familiar tools like Jenkins and UrbanCode Deploy, plus z/OSMF workflows, all of which can increase deployment speeds while simultaneously improving reliability. You will also learn how to provision mainframe syste...