System and method for cashless peer-to-peer payment

A method for a server performing a wireless group payment transaction, comprising:

• providing a server web page or native application including options for a user selecting a role as payer or payee;
• requesting information from the payee including a transaction ID provided by the server;
• requesting information from o or more payers including the transaction ID;
• initiating an authorization of the transaction on a credit or debit account of each payer;
• initiating transactions to credit the payee's account;
• and
• completing the transactions with the payers by initiating the offline clearing of the transactions.

A system for a server performing a wireless payment transaction, comprising:

• a processor;
• and
• at least one computer program residing on the processor;
• wherein the computer program is stored on a non-transitory computer readable medium having computer executable program code embodied thereon, the computer executable program code configured to cause the server to:
• provide a server web page or native application including options for a user selecting a role as payer or payee;
• request information from the payee including a transaction ID provided by the server;
• request information from the payer including the transaction ID;
• initiate an authorization of the transaction on a credit or debit account of the payer;
• initiate a transaction to credit the payee's account;
• and
• complete the transaction with the payer by initiating the offline clearing of the transaction.