System and methods of using wireless communication devices to conduct financial transactions
First Claim
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1. Wireless funds transfer system having at least one merchant unit connected to a server, each merchant unit having means for receiving an authorization signal from the server;
- the server comprising a database for storing data relating to consumers and merchants of the wireless funds transfer system, and having;
means for receiving consumer data from at least one of a consumer device and a merchant unit;
means for checking the validity of said received data;
means for transferring wireless funds amounts from a consumer account to a merchant account; and
means for transmitting authorization data to the merchant unit.
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Abstract
The invention is directed to a system and method for electronic funds transfer, comprising the steps of receiving consumer data at a server from a consumer device or merchant unit, checking the validity of the received data; transferring wireless fund values form a consumer account to a merchant account in a database and sending an authorization signal from the server to a merchant device connected thereto.
38 Citations
11 Claims
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1. Wireless funds transfer system having at least one merchant unit connected to a server, each merchant unit having means for receiving an authorization signal from the server;
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the server comprising a database for storing data relating to consumers and merchants of the wireless funds transfer system, and having;
means for receiving consumer data from at least one of a consumer device and a merchant unit;
means for checking the validity of said received data;
means for transferring wireless funds amounts from a consumer account to a merchant account; and
means for transmitting authorization data to the merchant unit. - View Dependent Claims (2, 3, 4, 5, 6)
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7. A method for electronic funds transfer, comprising the steps of receiving consumer data at a server from at least one of a consumer device and a merchant unit, checking the validity of said received data;
- transferring wireless fund values form a consumer account to a merchant account in a database and sending an authorization signal from the server to a merchant device connected thereto.
- View Dependent Claims (8, 9, 10, 11)
Specification