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System for conducting commercial transactions

  • US 20030004891A1
  • Filed: 07/29/2002
  • Published: 01/02/2003
  • Est. Priority Date: 01/28/2000
  • Status: Abandoned Application
First Claim
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1. A computer based system for conducting commercial transactions and which includes a plurality of participating system members (as herein defined) each having a mobile device adapted to communicate via an associated wireless network with a general computerized server in which a financial data base record is allocated to each participating system member, the system including also a plurality of merchants (each of which by definition has been allocated a financial data base record in the computerized server) and wherein the computerized server is programmed such that financial transactions can be conducted by remote operation of the mobile device of a participating system member, via the wireless network, to result in the debiting of a financial data base record associated with an instructing participating system member and the crediting of a different financial data base record associated with any one of self, another participating system member and a merchant, the system being characterized in that in respect of at least one or more predetermined categories of transactions in respect of which the recipient is either a participating system member or a merchant, the transaction, once completed, is irreversible.

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