Transaction processing method, apparatus and system

An apparatus for facilitating a payment transaction from a payer to a payee, comprising a payer electronic device associated with the payer, the payer electronic device including a payment information receiving device for receiving information about the payment, and payment instructing device for giving instructions for making the payment;

• wherein the information about the payment includes product information in the form of at least one product identifier of a product available from the payee, and the payer electronic device is arranged to enable selection of at least one product identifier, and wherein the payer electronic device is a computing device and the product identifier is in computer recognizable form, the payer electronic device being arranged to recognize and process the product identifier;
• wherein the information about the payment further includes payment information including a payment amount for the at least one selected product;
• wherein the payment instructing device is arranged to provide the payment amount, payment identity of the payee and the selected product identifier to a transaction processing system, the transaction processing system being arranged to access an account of the payer and make payment to the payee for the payment amount, and the transaction processing system comprises a transmitting device that transmits the product identifier to the payee, wherein the payee receives information about the product ordered and paid for by the payer electronic device to enable provision of the product to the payer, and wherein the payer electronic device is arranged to enable recognition of the information about the payment and to formulate messages including the information about the payment and transmit those messages to a transactional processing system.

An electronic system comprising at least one processor and at least one memory device, the at least one memory device storing instructions, which when executed by the at least one processor, cause the at least one processor to:

• provide information associated with a payer, the information being provided in a manner so that a payee can access the information;
• receive information about the payment with a payer electronic device associated with the payer;
• give instructions for making the payment using the electronic device associated with the payer;
• wherein the information about the payment includes product information in the form of at least one product identifier of at least one product available from the payee, and wherein the payer electronic device is a computing device and the product identifier is in computer recognizable form the payer electronic device being arranged to recognize and process the product identifier;
• select, with the payer electronic device, at least one product identifier;
• wherein the information about the payment further includes payment information including a payment amount for the at least one product and a payment identity of the payee, wherein the payer electronic device is arranged to enable recognition of the payment information and to formulate messages including the payment information and transmit those messages to a transaction processing system;
• wherein giving instructions for making the payment includes providing, with the payer electronic device, the payment amount, payment identity of the payee and the selected product identifier to the transaction processing system;
• the transaction processing system being arranged to access an account of the payer and make payment to the payee for the payment amount;
• and
• transmit, with the transaction processing system, the product identifier to the payee, wherein the payee receives information about the at least one product paid for by the payer electronic device to enable provision of the product to the payer.

At least one non-transitory computer readable medium comprising data instructions stored therein, which when executed by at least one processor, cause the processor to:

• provide information associated with a payer, the information being provided in a manner so that a payee can access the information;
• receive information about the payment with a payer electronic device associated with the payer;
• give instructions for making the payment using the electronic device associated with the payer;
• wherein the information about the payment includes product information in the form of at least one product identifier of at least one product available from the payee, wherein the payer electronic device is a computing device and the product identifier is in computer recognizable form, the payer electronic device being arranged to recognized and process the product identifier,
• select, with the payer electronic device, at least one product identifier;
• wherein the information about the payment further includes payment information including a payment amount for the at least one product and a payment identity of the payee, wherein the payer electronic device is arranged to enable recognition of the payment information and to formulate messages including the payment information and transmit those messages to a transaction processing system;
• wherein giving instructions for making the payment includes providing, with the payer electronic device, the payment amount, payment identity of the payee and the selected product identifier to the transaction processing system;
• the transaction processing system being arranged to access an account of the payer and make payment to the payee for the payment amount;
• and
• transmit, with the transaction processing system, the product identifier to the payee, wherein the payee receives information about the at least one product paid for by the payer electronic device to enable provision of the product to the payer.