Peer to peer mobile transactions leveraging personal area networks and robust post-transaction verification

A system for facilitating electronic transactions between a first mobile device and a second mobile device leveraging a short-range network when both the first mobile device and the second mobile device fail to connect to a central server via the internet, the system comprising:

• a first mobile application running on the first mobile device and supporting electronic communication with a central server, the first mobile device being configured to:
• receive a request to initiate an electronic transaction with a recipient, the electronic transaction comprising a value of funds for transferring to the recipient;
• access a periodically updated database storing a first account comprising an account balance, and, in response to a determination that the account balance is greater than the value of funds, authorize the request;
• determine that the first mobile device fails to connect to the internet;
• and
• in response to the determining, transmit:
• a short-range communication request to establish a communication session with a second mobile device within a distance of the first mobile device;
• and
• a verification request to the second mobile device, the verification request for verifying that a user of the second mobile device is the recipient;
• a second mobile application running on the second mobile device and supporting electronic communication with the central server, the second mobile device being configured to:
• in response to a receipt of the verification from the first mobile device, update an account balance of a second account associated with the recipient by increasing the account balance by an amount equal to the value of funds, the account balance stored at the second mobile device;
• and
• transmit transaction data associated with the transfer into a transaction processing queue;
• the first mobile device is further configured to:
• update the account balance of the first account to reflect the transfer;
• and
• transmit the transaction data into a transaction processing queue;
• and
• the central server is configured to:
• determine that the internet connection has been established at the first mobile device and at the second mobile device;
• in response to the determining that the internet connection has been established at the first mobile device and at the second mobile device, receive the transaction data from the transaction processing queue from the first mobile device and from the second mobile device;
• request from the first mobile device:
• a first activity log storing a log of applications accessed on the first mobile device and a timestamp for each accessed application;
• and
• a first browser timeout history;
• request from the second mobile device:
• a second activity log storing a log of applications accessed on the second mobile device and a timestamp for each accessed application;
• and
• a second browser timeout history;
• and
• following a receipt of the first activity log, the first browser timeout history, the second activity log and the second browser timeout history, verify that:
• the first mobile application was active when a browser on the first mobile device was in timeout;
• the second mobile application was active when a browser on the second mobile device was in timeout;
• and
• that a timestamp of use of the first mobile application is within a pre-determined range to a timestamp of a use of the second mobile application;
• and
• in response to the verifying, process the request within an online account associated with the user of the first mobile device and the user of the second mobile device by updating an online account of the user of the first mobile device and an online account of the user of the second mobile device to reflect the transfer.