Financial transaction authentication servers, methods, and computer program products for facilitating financial transactions between buyers and sellers

A financial transaction authentication server, comprising:

• a wireless network interface that is configured to receive money transfer requests from a buyer via a wireless communications terminal, wherein a transfer request identifies a financial account of the buyer, a financial account of a seller, and an amount to be transferred from the buyer's financial account to the seller's financial account;
• a wireless terminal location module that is configured to identify the respective locations of the buyer and seller;
• and
• a transaction authorization processor configured to authorize a transfer request if the locations of the buyer and seller are within a predetermined geographical proximity of each other.

A computer program product for facilitating financial transactions between a buyer and a seller, comprising a computer readable storage medium having encoded thereon instructions that, when executed on a computer, cause the computer to perform the following steps:

• receiving a money transfer request from a buyer via a wireless communications terminal, wherein the transfer request identifies a financial account of the buyer, a financial account of a seller, and an amount to be transferred from the buyer's financial account to the seller's financial account;
• identifying the respective locations of the buyer and seller;
• determining whether the locations of the buyer and seller are within a predetermined geographical proximity of each other;
• and
• authorizing the transfer request if the locations of the buyer and seller are within a predetermined geographical proximity of each other.