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US 2014/0006287 A1Published application
Mobile communication device for conducting financial transactions
AssigneeMastercard International Incorporated
InventorSIMON BLYTHE
Life of this patent
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Abstract
The present invention advantageously combines communications aspects of mobile devices with financial transaction system capabilities in a novel manner. This advantageous combination enables a user to automatically initiate a financial transaction with a merchant upon the user being located in a particular geographic vicinity. Numerous types of transactions can be enabled using the present invention.
Claims5
A mobile communication device comprising:
- a global positioning system module configured to use a global positioning system to determine a current geographic location of the mobile communication device;
- an interface to accept a user-inputted geographic location and to accept a user-inputted transaction amount for a financial transaction;
- a payment module configured to automatically initiate the financial transaction over a network with said determined current geographic location being within a particular distance of said user-inputted geographic location;
- and
- a communication interface configured, upon the financial transaction having been initiated, to wirelessly transmit authentication details to the network to charge the user-inputted transaction amount against a particular amount.
2 more elements
Dependencies are inferred from the claim text.