Method and system for purchasing of goods and services via image recognition

A method for facilitating an image-based transaction, comprising:

• storing, in a database, at least a merchant identifier;
• capturing, by a first input device, an image of a product to be sold;
• receiving, by a second input device, product data corresponding to the product to be sold;
• transmitting, by a transmitting device, at least the captured image, the received product data, and the stored merchant identifier;
• and
• receiving, by a receiving device, an updated image, wherein the updated image is encoded with at least a transaction identifier and includes at least an indication of availability of the product to be sold such that user interaction with the updated image will initiate a payment transaction for the product to be sold with a merchant corresponding to the stored merchant identifier based on at least the encoded transaction identifier.

A system for facilitating an image-based transaction, comprising:

• a first input device configured to capture an image of a product to be sold;
• a second input device configured to receive product data corresponding to the product to be sold;
• a processing device configured to
• identify a transaction identifier,
• encoded the captured image with at least the identified transaction identifier, and
• add, to the encoded image, an indication of availability of the product to be sold such that user interaction with the encoded image will initiate a payment transaction for the product to be sold based on at least the encoded transaction identifier;
• and
• a transmitting device configured to transmit at least the received product data, the identified transaction identifier, and the encoded image including the indication of availability.

A system for facilitating an image-based transaction, comprising:

• a database configured to store at least a merchant identifier;
• a first input device configured to capture an image of a product to be sold;
• a second input device configured to receive product data corresponding to the product to be sold;
• a transmitting device configured to transmit at least the captured image, the received product data, and the stored merchant identifier;
• and
• a receiving device configured to receive an updated image, wherein the updated image is encoded with at least a transaction identifier and includes at least an indication of availability of the product to be sold such that user interaction with the updated image will initiate a payment transaction for the product to be sold with a merchant corresponding to the stored merchant identifier based on at least the encoded transaction identifier.