System and method for processing transactions

• US 10,304,058 B2
• Filed: 03/31/2014
• Issued: 05/28/2019
• Est. Priority Date: 01/08/2013
• Status: Active Grant

• Current Assignee: Jr., J. Mitchell Herbert, Michael T. Abramson
• Original Assignee: Jr., J. Mitchell Herbert, Michael T. Abramson
• Inventors: Abramson, Michael T., Herbert, Jr., J. Mitchell
• Primary Examiner(s): Ravetti, Dante
• Application Number:
  US14/230,481
• Publication Number:
  US 20140214679A1
• Time in Patent Office: 1,884 Days
• Field of Search: 705 16, 705 21, 705 59, 705 71, 380 44, 380262, 380278, 380279
• CPC Class Codes: G06F 21/31 User authentication
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/306 using TV related infrastructures external card used for payment with client device H04N21/4185
• CPC Class Codes: G06Q 20/3274 using a pictured code, e.g. barcode or QR-code, being displayed on the M-device
• CPC Class Codes: G06Q 20/4014 Identity check for transactions
• CPC Class Codes: G06Q 2220/123 involving third party for collecting or distributing payments, e.g. clearinghouse

Abstract

A method, computer program product, and computer system for receiving a first scan of an identifier from a first computing device is disclosed. The identifier is associated with a financial transaction. A second scan of the identifier is received from a second computing device. The financial transaction is processed based upon, at least in part, receiving the second scan of the identifier from the second computing device.

Claims

1. A computer-implemented method comprising:

receiving, by at least one processor of one or more processors, a first scan of an identifier from a first image capturing device of a first computing device;

receiving, by at least one processor of the one or more processors, a user-based confirmation including login information of a first user;

associating, by at least one processor of the one or more processors, the identifier with the first user based on, at least in part, receiving the first scan of the identifier from the first image capturing device of the first computing device;

receiving, by at least one processor of the one or more processors, a second scan of the identifier from a second image capturing device of a second computing device;

processing, by at least one processor of the one or more processors, a financial transaction based on, at least in part, receiving the second scan of the identifier from the second image capturing device of the second computing device, wherein processing the financial transaction includes transferring an asset from a first location to a second location;

disassociating, by at least one processor of the one or more processors, the identifier from the first user, based on, at least in part, processing the financial transaction; and

making, by at least one processor of the one or more processors, the identifier available for association with a second user based on, at least in part, disassociating the identifier from the first user.

2. The computing-implemented method of claim 1 further comprising authenticating validity of the financial transaction.

3. The computer-implemented method of claim 2 wherein authenticating validity of the financial transaction includes verifying whether the first scan of the identifier matches the second scan of the identifier.

4. The computer-implemented method of claim 2 wherein authenticating validity of the financial transaction includes sending a notification to the user identifying the financial transaction.

5. The computer-implemented method of claim 1 wherein the login information includes at least one of a username and a password.

6. The computer-implemented method of claim 1 wherein the identifier includes at least one of a signature and an image.

7. The computer-implemented method of claim 6 wherein the image includes a code.

8. The computer-implemented method of claim 7 wherein the code includes at least one of a bar code and a QR code.

9. The computer-implemented method of claim 1 wherein processing the financial transaction includes purchasing one or more items.

10. A computing system comprising:

at least one processor;

at least one memory having a plurality of instructions stored thereon which, when executed by the at least one processor, cause the at least one processor to perform operations including,

receiving a first scan of an identifier from a first image capturing device;

receiving, by at least one processor of the one or more processors, a user-based confirmation including login information of a first user;

associating the identifier with the first user based on, at least in part, receiving the first scan of the identifier from the first image capturing device;

receiving a second scan of the identifier from a second image capturing device;

processing a financial transaction based on, at least in part, receiving the second scan of the identifier from the second image capturing device, wherein processing the financial transaction includes transferring an asset from a first location to a second location;

disassociating the identifier from the first user, based on, at least in part, processing the financial transaction; and

making the identifier available for association with a second user based on, at least in part, disassociating the identifier from the first user.

11. The computing system of claim 10 wherein the operations further comprise authenticating validity of the financial transaction.

12. The computing system of claim 11 wherein authenticating validity of the financial transaction includes verifying whether the first scan of the identifier matches the second scan of the identifier.

13. The computing system of claim 11 wherein authenticating validity of the financial transaction includes sending a notification to the user identifying the financial transaction.

14. The computing system of claim 10 wherein the login information includes at least one of a username and a password.

15. The computing system of claim 10 wherein the identifier includes at least one of a signature and an image.

16. The computing system of claim 15 wherein the image includes a code.

17. The computing system of claim 16 wherein the code includes at least one of a bar code and a QR code.

18. The computing system of claim 10 wherein processing the financial transaction includes purchasing one or more items.

19. A non-transitory computer readable storage medium having a plurality of instructions stored thereon which, when executed across one or more processors, cause at least a portion of the one or more processors to perform operations comprising:

receiving, by at least one processor of the one or more processors, a first scan of an identifier from a first image capturing device of a first computing device;

receiving, by at least one processor of the one or more processors, a user-based confirmation including login information of a first user;

associating, by at least one processor of the one or more processors, the identifier with the first user based on, at least in part, receiving the first scan of the identifier from the first image capturing device of the first computing device;

receiving, by at least one processor of the one or more processors, a second scan of the identifier from a second image capturing device of a second computing device;

processing, by at least one processor of the one or more processors, a financial transaction based on, at least in part, receiving the second scan of the identifier from the second image capturing device of the second computing device, wherein processing the financial transaction includes transferring an asset from a first location to a second location;

disassociating, by at least one processor of the one or more processors, the identifier from the first user, based on, at least in part, processing the financial transaction; and

making, by at least one processor of the one or more processors, the identifier available for association with a second user based on, at least in part, disassociating the identifier from the first user.

20. The non-transitory computer readable storage medium of claim 19 wherein the operations further comprise authenticating validity of the financial transaction.

21. The non-transitory computer readable storage medium of claim 20 wherein authenticating validity of the financial transaction includes verifying whether the first scan of the identifier matches the second scan of the identifier.

22. The non-transitory computer readable storage medium of claim 20 wherein authenticating validity of the financial transaction includes sending a notification to the user identifying the financial transaction.

23. The non-transitory computer readable storage medium of claim 19 wherein the login information includes at least one of a username and a password.

24. The non-transitory computer readable storage medium of claim 19 wherein the identifier includes at least one of a signature and an image.

25. The non-transitory computer readable storage medium of claim 24 wherein the image includes a code.

26. The non-transitory computer readable storage medium of claim 25 wherein the code includes at least one of a bar code and a QR code.

27. The non-transitory computer readable storage medium of claim 19 wherein processing the financial transaction includes purchasing one or more items.