Payment method and system

A payment system utilizing near field communication (NFC) technology comprising:

• a payment device configured to process a financial transaction for an item desired to be purchased, the payment device comprising:
• a processor capable of reading instructions stored on a non-transitory machine-readable medium for execution by the processor;
• a payment application including payment instructions for receiving purchasing data over NFC protocol and authorizing the financial transaction;
• and
• a NFC transceiver capable of transmitting and/or receiving the purchasing data using NFC protocol;
• a plurality of NFC tags, wherein each individual NFC tag is placed on or near a corresponding item desired to be purchased, each individual NFC tag of the plurality of NFC tags comprising:
• a processor capable of reading instructions stored on a non-transitory machine-readable medium for execution by a processor, and
• a NFC transceiver capable of transmitting and/or receiving the purchasing data using NFC protocol;
• and
• a network capable of sending and receiving purchasing data to and from a payment gateway in order to authorize the financial transaction.

A non-transitory computer-readable medium having instructions for execution by a processor, the instructions causing the processor, when executed, to perform a method comprising:

• initiating a financial transaction for an item desired to be purchased;
• receiving purchasing data from a near field communication (NFC) tag placed on or near the item desired to be purchased, the purchasing data provided using NFC protocol;
• authorizing the financial transaction for purchasing the item by contacting a payment gateway;
• and
• indicating a successful or failed financial transaction by displaying a digital receipt if successful.

A method for purchasing items from a payment device utilizing barcode technology comprising:

• approaching an item desired to be purchased and opening a payment application on the payment device, the payment application configured for interfacing and communicating with a purchaser;
• scanning a barcode corresponding to the item desired to be purchased on the payment device, the barcode placed on or near the item desired to be purchased;
• decoding the scanned barcode in order to extract purchasing data stored therein;
• processing through the payment application the purchasing data, the processing including contacting a payment gateway to authorize a financial transaction for purchasing the item;
• and
• indicating on the payment application a successful or failed financial transaction.

A payment system utilizing barcode technology comprising:

• a payment device configured to process a financial transaction for an item desired to be purchased, the payment device comprising:
• a processor capable of reading instructions stored on a non-transitory machine-readable medium for execution by the processor;
• a payment application including payment instructions for receiving purchasing data extracted from scanned barcodes and authorizing the financial transaction;
• a scanning capable device for scanning a barcode corresponding to the item desired to be purchased;
• and
• a barcode reader program capable of decoding the scanned barcode in order to extract purchasing data stored therein;
• a plurality of barcodes, wherein each individual barcode is placed on or near a corresponding item desired to be purchased;
• and
• a network capable of sending and receiving purchasing data to and from a payment gateway in order to authorize the financial transaction.

A non-transitory computer-readable medium having instructions for execution by a processor, the instructions causing the processor, when executed, to perform a method comprising:

• initiating a financial transaction for an item desired to be purchased;
• receiving coded data from scanning a barcode placed on or near the item desired to be purchased;
• extracting purchasing data from the coded data;
• authorizing the financial transaction for purchasing the item by contacting a payment gateway;
• and
• indicating a successful or failed financial transaction by displaying a digital receipt if successful.

A method for purchasing items from a payment device utilizing beacon technology comprising:

• opening a payment application on the payment device, the payment application configured for interfacing and communicating with a purchaser and a plurality of beacons over radio frequency (RF) protocol;
• walking around a beacon-enabled store such that signals from beacons nearby a purchaser triangulate to locate the purchaser and display items for purchase within reach of the purchaser's location;
• selecting one or more items desired to be purchased on the payment application;
• processing through the payment application the one or more items desired to be purchased, the processing including contacting a payment gateway to authorize a financial transaction for purchasing the item;
• and
• indicating on the payment application a successful or failed financial transaction.

A payment system utilizing beacon technology comprising:

• a payment device configured to process a financial transaction for an item desired to be purchased, the payment device comprising:
• a processor capable of reading instructions stored on a non-transitory machine-readable medium for execution by the processor;
• a payment application including payment instructions for receiving location based purchasing data over radio frequency (RF) protocol and authorizing the financial transaction;
• and
• a RF transceiver capable of transmitting and/or receiving location based purchasing data using RF protocol;
• a plurality of beacons, wherein each individual beacon is placed throughout a store to triangulate location data corresponding to items desired to be purchased, each individual beacon of the plurality of beacons comprising:
• a processor capable of reading instructions stored on a non-transitory machine-readable medium for execution by a processor, and
• a RF transceiver capable of transmitting and/or receiving location based purchasing data using RF protocol;
• and
• a network capable of sending and receiving purchasing data to and from a payment gateway in order to authorize the financial transaction.

A non-transitory computer-readable medium having instructions for execution by a processor, the instructions causing the processor, when executed, to perform a method comprising:

• initiating a financial transaction for an item desired to be purchased;
• receiving location based purchasing data from a plurality of beacons placed throughout a store;
• authorizing the financial transaction for purchasing the item by contacting a payment gateway;
• and
• indicating a successful or failed financial transaction by displaying a digital receipt if successful.