Contactless mobile payment system
OwnerDionisios A. Sofronasinventor
Life of this patent
Estimating the term…
Abstract
This disclosure relates to methods and systems for mobile payments, where financial transactions can be conducted between customers and merchants via their mobile devices when their mobile devices are brought in close proximity to each other. The customer enters their payment authorization code on their own mobile device, in order to authorize payment transactions. The disclosed system design and functionality allows for intuitive, real time, inexpensive and secure payment and cash-exchange transactions.
Claims21
A point of sale (POS) terminal of a merchant of a mobile payment system, the POS terminal comprising:
- a memory for storing POS terminal information for identifying the POS terminal, the POS terminal information being associated with merchant account information on a transaction server of the mobile payment system;
- a wireless interface for receiving location information of a mobile terminal of the mobile payment system and a unique ID for identifying a customer from mobile terminal, the unique ID being associated with customer account information and mobile terminal information on the transaction server;
- and
- a network interface for communicating with the transaction server for transmitting the received unique ID and location information of the mobile terminal, the POS terminal information, and a payment amount to the transaction server.
A method performed in a point of sale (POS) terminal of a merchant of a mobile payment system, the method comprising the steps of:
- storing POS terminal information for identifying the POS terminal, the POS terminal information being associated with merchant account information on a transaction server of the mobile payment system;
- receiving by a wireless interface location information of a mobile terminal of the mobile payment system and a unique ID for identifying a customer from the mobile terminal, the unique ID being associated with customer account information and mobile terminal information on the transaction server;
- establishing communication from a network interface between the transaction server and the mobile terminal to associate the POS terminal with the merchant account information and the POS terminal information on the transaction server;
- and
- transmitting by the network interface the received unique ID and location information of the mobile terminal, the POS terminal information, and a payment amount to the transaction server.
A non-transitory computer readable medium with an executable program stored thereon for use in a point of sale (POS) terminal of the type to be used by a merchant in a mobile payment system, the executable program having instructions that configure the POS terminal to:
- store POS terminal information for identifying the POS terminal, the POS terminal information being associated with merchant account information on a transaction server of the mobile payment system;
- receive, by a wireless interface, location information of a mobile terminal of the mobile payment system and a unique ID for identifying a customer from the mobile terminal, the unique ID being associated with customer account information and mobile terminal information on the transaction server;
- establish communication from a network interface between the transaction server and the mobile terminal to associate the POS terminal with the merchant account information and the POS terminal information on the transaction server;
- and
- transmit by the network interface the received unique ID and location information of the mobile terminal, the POS terminal information, and a payment amount to the transaction server.
Dependencies are inferred from the claim text.