Back to results
US 9,177,316 B2Granted
Mobile monetary transactions and banking for rural populations
OwnerBindu Rama Raoinventor
Life of this patent
Estimating the term…
Abstract
Authenticating users for mobile transactions conducted over mobile phones. In general, the present invention makes it possible to securely authenticate a rural user (using the unique user ID from the uWallet, the client certificate in the mobile phone of the rural user and PIN code/password provided by the rural user) and then permit mobile banking transactions over the mobile phone. Both participating individuals employ their individual mobile phones and secure USB/Bluetooth based mobile banking devices (the uWallet) to authenticate themselves and conduct monetary transactions (funds transfer, mobile payments, etc.).
Claims23
A system for conducting financial transactions using mobile phones, the system comprising:
- a secure server that facilitates financial transactions between a first personal electronic wallet device of a first user and a second personal electronic wallet device of a second user, wherein the secure server comprises a user account, that is associated with a first user identification information and the first user;
- the first personal electronic wallet device that is arranged to communicatively couple securely with a first secure mobile device when disposed externally on the first secure mobile device;
- the first personal electronic wallet device stores and provides only the user identification information and security information to the first secure mobile device for interactions with the secure server,
- the first secure mobile device securely interacting with the secure server and conducting financial transactions, when the first personal electronic wallet device is externally disposed on, and communicatively coupled to the first secure mobile device and the first user is authenticated and identified at the secure server;
- the first secure mobile device prompting the first user to pick one of the financial transactions;
- the secure server receiving details about the one of the financial transactions and a target identification associated with the second user or associated with the second mobile device;
- the second mobile device prompting the second user to communicatively couple a second electronic wallet to the second mobile device and to enter a PIN code for authentication;
- the secure server transferring details regarding the one of the financial transactions to the second mobile device for display to the second user;
- and
- the secure server sending a user response received from the second mobile device regarding the one of the financial transactions.
7 more elements
A method of operating a system supporting secure financial transaction communications for mobile devices, the system comprising a secure server comprising processor, memory and storage, the method comprising:
- prompting the first user on the first mobile device to pick one of a set of supported financial transactions;
- receiving, at the secure server from a first mobile device, a first personal identification (PIN) code, and a first unique identification, when the first electronic wallet device is disposed externally on the first secure mobile device;
- identifying a first user of the first mobile device, at the secure server, using the first PIN code and the first unique identification;
- receiving, from the first user details about the one of a set of supported financial transactions and a target identification associated with a second user or associated with the second mobile device;
- prompting the second user to communicatively couple the second electronic wallet to the second mobile device and to enter a second PIN code for authentication;
- receiving, at the secure server from the second mobile device, the second PIN code, and a second unique identification;
- transferring details regarding the one of a set of supported financial transactions to the second mobile device for display to the second user;
- identifying the second user of the second mobile device, at the secure server, using the second PIN code and the second unique identification;
- and
- facilitating, by the secure server, the one of a set of supported financial transactions between the first user and the second user;
- sending, to the first mobile device, a user response received from the second mobile device, the user response regarding the one of a set of supported financial transactions.
8 more elements
A system for conducting financial transactions using mobile phones, the system comprising at least one server each comprising processor, memory and storage, the system further comprising:
- a first personal electronic wallet device comprising a first unique identification associated with a first user, the first personal electronic wallet device arranged to communicatively couple to a first secure mobile device when disposed externally on the first secure mobile device;
- the at least one server arranged to communicatively couple to the first secure mobile device, the at least one server comprising at least one user account, wherein the at least one user account is associated with a first personal identification (PIN) code, the first unique identification and the first user;
- the at least one server prompting the first user on the first mobile device to select one of a set of supported financial transactions;
- the at least one server facilitating debiting and crediting accounting transactions on the at least one user account, as necessary, in accordance with the one of a set of supported financial transactions;
- the at least one server receiving, from the first user on the first secure mobile device, details about a selected one of the set of supported financial transactions and a target identification, and determining a second mobile device as the target device for the selected one of the set of supported financial transactions;
- the at least one server prompting a second user on the second mobile device to communicatively couple the second electronic wallet to the second mobile device and to enter a second PIN code for authentication;
- the at least one server transferring details regarding the selected one of the set of supported financial transactions to the second mobile device for display to the second user;
- and
- the at least one server sending, to the first mobile device, a user response received from the second mobile device.
6 more elements
Dependencies are inferred from the claim text.