Wireless payment method and systems

• US 10,510,064 B2
• Filed: 08/14/2017
• Issued: 12/17/2019
• Est. Priority Date: 01/21/2005
• Status: Active Grant

• Current Assignee: Visa USA, Inc. (Visa, Inc.)
• Original Assignee: Visa USA, Inc. (Visa, Inc.)
• Inventors: Myers, Joan, Garrison, Sara, Carlson, Mark
• Primary Examiner(s): Obaid, Fateh M
• Application Number:
  US15/676,477
• Publication Number:
  US 20180032994A1
• Time in Patent Office: 855 Days
• Field of Search: None
• CPC Class Codes: G06Q 20/027 involving a payment switch or gateway
• CPC Class Codes: G06Q 20/085 involving remote charge determination or related payment systems
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/322 Aspects of commerce using mobile devices [M-devices]
• CPC Class Codes: G06Q 20/3821 Electronic credentials
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

A method for conducting a transaction is disclosed. The method includes using a first portable electronic device, and directly transmitting a request for payment to a second portable electronic device through a wireless link. Then, the second portable electronic device transmits an approval of the request for payment to the first portable electronic device. One of the first and the second portable electronic devices then sends the request for payment to a payment hub service. The payment hub service then facilitates the transfer of funds from a payer institution to a payee institution to complete the transaction.

Claims

1. A method for conducting a transaction, comprising:

directly transmitting, by a first portable electronic device through a direct wireless link to a second portable electronic device, a request for payment to the second portable electronic device, the payment to be a part of the transaction between the first portable electronic device and the second portable electronic device;

establishing trust between the first portable electronic device and the second portable electronic device, which includes establishing an identity of the first portable electronic device by the second portable electronic device and establishing an identity of the second portable electronic device by the first portable electronic device;

receiving, at the first portable electronic device through the direct wireless link from the second portable electronic device, an approval of the request for payment and payment details for review, the approval corresponding to a first confirmation that the transaction is to proceed;

responsive to a second confirmation by both parties that the transaction as configured is to proceed, receiving, at the first portable electronic device through the direct wireless link, an audit record (i) including a tracking number identifying the transaction among a plurality of transactions and (ii) corresponding to an indication that the transaction as requested and configured has been approved by both parties, the audit record and the tracking number generated and provided by the second portable electronic device; and

transmitting, by the first portable electronic device over a network, payment request data indicating an instruction to transfer funds for the transaction, wherein the payment request data comprises the audit record including the tracking number, wherein the first portable electronic device and the second portable electronic device are phones capable of long range and short range communication,

wherein the establishing of the identity of the first portable electronic device and the establishing of the identity of the second portable electronic device is performed using credentials present in the first portable electronic device and the second portable electronic device, and

wherein the audit record is utilizable to reduce repudiation risk based at least in part on the indication that the transaction as requested and configured has been approved by both parties.

2. The method of claim 1, wherein the direct wireless link comprises an infrared, RF, or optical link.

3. The method of claim 1, wherein the payment request data is transmitted to a server computer of a payment hub service.

4. The method of claim 3, wherein the server computer facilitates a transfer of the funds from a payer institution to a payee institution, and wherein the payer institution is a payer bank and the payee institution is a payee bank.

5. The method of claim 3, wherein the payment hub service acts as a broker between different payment methods comprising a first payment method type and a second payment method type.

6. The method of claim 5, wherein:

the payment request data sent to the server computer further comprises an identifier of the second payment method type selected by a first user of the first portable electronic device and an identifier of the first payment method type selected by a second user of the second portable electronic device;

wherein the first payment method type and the second payment method type are not the same; and

wherein the server computer, based upon the payment request data, facilitates a transfer of the funds from a payer institution of the second user to a payee institution of the first user.

7. The method of claim 1, wherein the first portable electronic device has stored thereon at least a digital certificate.

8. The method of claim 1, wherein a password is required before the request for payment is transmitted by the first portable electronic device.

9. The method of claim 1, further comprising receiving, by the first portable electronic device and from the second portable electronic device, a payer account identifier of a first account of a payer operating the second portable electronic device to be used as a source of funds for the transaction, wherein the payer account identifier is an encrypted account number and, and wherein the method further comprises erasing the encrypted account number such that the encrypted account number is not stored by the first portable electronic device after the transaction ends.

10. The method of claim 1, further comprising receiving, at the first portable electronic device from the second portable electronic device, a role of a person operating the second portable electronic device in the transaction, wherein the role is of a payer.

11. The method of claim 10, wherein the payment request data comprises a transfer amount, a source account, and a destination account.

12. The method of claim 11, further comprising receiving payment advice data for the transaction.

13. A phone comprising:

a processor; and

a computer readable medium coupled with the processor, the computer readable medium having stored thereon at least code that when executed with the processor causes the phone to perform operations comprising;

directly transmitting a request for payment from the phone to a second portable electronic device through a direct wireless link, the payment to be a part of a transaction between the phone and the second portable electronic device,

establishing trust between the phone and the second portable electronic device, wherein establishing trust includes establishing an identity of the phone by the second portable electronic device and establishing an identity of the second portable electronic device by the phone, and wherein the establishing of the identity of the phone and the establishing of the identity of the second portable electronic device is performed using credentials present in the phone and the second portable electronic device,

receiving, through the direct wireless link from the second portable electronic device, an approval of the request for payment and payment details for review, the approval corresponding to a first confirmation that the transaction is to proceed,

responsive to a second confirmation by both parties that the transaction as configured is to proceed, receiving, through the direct wireless link, an audit record (i) including a tracking number identifying the transaction among a plurality of transactions and (ii) corresponding to an indication that the transaction as requested and configured has been approved by both parties, the audit record and the tracking number generated and provided by the second portable electronic device, and

transmitting, over a network, payment request data indicating an instruction to perform the payment for the transaction, wherein the payment request data comprises the audit record including the tracking number,

wherein the audit record is utilizable to reduce repudiation risk based at least in part on the indication that the transaction as requested and configured has been approved by both parties.

14. The phone of claim 13, wherein the computer readable medium has further stored thereon a digital certificate.

15. The phone of claim 13, wherein the direct wireless link comprises an IR link, an optical link, or an RF link.

16. The phone of claim 13, wherein the payment request data is transmitted to a server computer of a payment hub service configured at least to act as a broker between different payment methods.

17. The phone of claim 13, wherein the operations further comprise receiving, from the second portable electronic device, a role of a person operating the second portable electronic device in the transaction, wherein the role is of a payer.

18. The phone of claim 17, wherein the payment request data comprises a transfer amount, a source account, and a destination account.

19. One or more non-transitory computer readable media collectively having stored thereon at least instructions that, when executed with one or more processors of a first portable electronic device, cause the first portable electronic device to perform operations comprising:

directly transmitting, through a direct wireless link to a second portable electronic device, a request for payment to the second portable electronic device, the payment to be a part of a transaction between the first portable electronic device and the second portable electronic device;

establishing trust between the first portable electronic device and the second portable electronic device, which includes establishing an identity of the first portable electronic device by the second portable electronic device and establishing an identity of the second portable electronic device by the first portable electronic device;

receiving, through the direct wireless link, an approval of the request for payment from the second portable electronic device and payment details for review, the approval corresponding to a first confirmation that the transaction is to proceed;

responsive to a second confirmation by both parties that the transaction as configured is to proceed, receiving, through the direct wireless link, an audit record (i) including a tracking number identifying the transaction among a plurality of transactions and (ii) corresponding to an indication that the transaction as requested and configured has been approved by both parties, the audit record and the tracking number generated and provided by the second portable electronic device; and

transmitting, over a network, payment request data indicating an instruction to transfer funds for the transaction, wherein the payment request data comprises the audit record including the tracking number,

wherein the first portable electronic device and the second portable electronic device are phones capable of long range and short range communication,

wherein the establishing of the identity of the first portable electronic device and the establishing of the identity of the second portable electronic device is performed using credentials present in the first portable electronic device and the second portable electronic device, and

wherein the audit record is utilizable to reduce repudiation risk based at least in part on the indication that the transaction as requested and configured has been approved by both parties.

20. The one or more computer readable media of claim 19, wherein the payment request data is transmitted to a server computer of a payment hub service configured at least to act as a broker between different payment methods comprising a first payment method type and a second payment method type.