Micropayment financial transaction process utilizing wireless network processing
AssigneeVIVOtech, Inc.
InventorsMohammad A. Khan, Jorge M. Fernandes, Kerry D. Brown
Life of this patent
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Abstract
A MicroAdapter device enables payment transactions to be effected through a purchaser's personal trusted device (PTD) without relying upon tokens or prepayment cards. In one embodiment, the MicroAdapter includes a transceiver configured to receive a purchase signal from the PTD including order and payment information. In response, the MicroAdapter communicates via wireless telephony with a transaction authorizer to receive authorization for effectuating the purchase transaction. The MicroAdapter may be particularly suited to effectuate micropayment transactions authorized by a Billing On Behalf of Others (BOBO) program administered through a wireless carrier/ISP or third party.
Claims20
An apparatus comprising:
- a first transceiver configured to receive from a personal trusted device a purchase signal including order information and payment information;
- a processor in electronic communication with the first transceiver;
- and
- a second transceiver in electronic communication with the processor, the processor configured to receive the purchase signal from the first transceiver and in response to cause the second transceiver to communicate a purchase request by wireless telephony to a remote transaction authorizer, the processor also configured to authorize a purchase based upon receipt of an acceptance signal returned from the remote transaction authorizer to the second transceiver, the apparatus further comprising a simulacrum in communication with the processor and configured to fit within a slot of a magnetic stripe card reader and to at least one of emulate and read magnetic stripe card signals.
A method of programming a personal trusted device comprising:
- providing a MicroAdapter device having a wireless transceiver and configured to communicate with a merchant;
- communicating an identity signal from a user's personal trusted device to the MicroAdapter device;
- communicating the identity signal from the MicroAdapter device to a remote location;
- communicating data from the remote location to the MicroAdapter upon authenticating the identity signal;
- and
- communicating the data from the MicroAdapter to the wireless transceiver of the personal trusted device.
Dependencies are inferred from the claim text.