Mobile communication device equipped with a magnetic stripe reader
First Claim
1. A wireless mobile device adapted to access a wireless network comprising:
- a subscriber identification module (SIM) card slot;
a magnetic stripe reader module electrically connected to said SIM card slot; and
wherein said magnetic stripe reader module is adapted to receive and read information stored in a magnetic stripe and transmit said information to an entity via said wireless network.
13 Assignments
0 Petitions
Accused Products
Abstract
A wireless mobile device is adapted to access a wireless network and includes a subscriber identification module (SIM) card slot and a magnetic stripe reader module electrically connected to the SIM card slot and thereby to the wireless mobile phone. The magnetic stripe reader module is adapted to receive and read information stored in a magnetic stripe and transmit this information to an entity through the wireless mobile device and the wireless network. The wireless mobile device of this invention is used to conduct financial transactions using a payment card comprising a magnetic stripe. The financial transactions include face-to-face or remote purchases and payment with the payment card through a financial institution.
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Citations
23 Claims
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1. A wireless mobile device adapted to access a wireless network comprising:
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a subscriber identification module (SIM) card slot;
a magnetic stripe reader module electrically connected to said SIM card slot; and
wherein said magnetic stripe reader module is adapted to receive and read information stored in a magnetic stripe and transmit said information to an entity via said wireless network. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14)
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15. An electronic communication method comprising:
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purchasing a good or a service from a merchant;
paying with a payment card comprising a magnetic stripe via a wireless mobile device; and
wherein said wireless mobile device is adapted to access a wireless network and comprises a subscriber identification module (SIM) card slot and a magnetic stripe reader module electrically connected to said SIM card slot and wherein said magnetic stripe reader module is adapted to receive and read information stored in said magnetic stripe and transmit said information to an entity via said wireless network.
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16. An electronic payment method utilized by a customer to pay a merchant with a payment card comprising a magnetic stripe for a face-to-face purchase of a good or service comprising:
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placing an order by said customer for said purchase of said good or service to said merchant;
providing a wireless mobile device wherein said wireless mobile device is adapted to access a wireless network and comprises a subscriber identification module (SIM) card slot and a magnetic stripe reader module electrically connected to said SIM card slot and wherein said magnetic stripe reader module is adapted to receive and read information stored in said magnetic stripe and transmit said information via said wireless network;
entering information of said purchase in said wireless mobile device;
swiping said magnetic stripe through said magnetic stripe reader, retrieving payment card identification information from said magnetic stripe and authorizing payment for said good or service;
formatting said purchase information, said payment card identification information and said payment authorization into a first message and sending said first message to an authentication server via said wireless network;
authenticating and sending said first message by said authentication server to a financial institution;
registering said purchase information and sending approval for said payment by said financial institution to said authentication server;
forwarding said payment approval to said wireless mobile device; and
fulfilling said order to said customer by said merchant. - View Dependent Claims (17, 18)
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19. An electronic payment method utilized by a customer to pay a merchant with a payment card comprising a magnetic stripe for a remote purchase of a good or service comprising:
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placing an order by said customer for said purchase of said good or service to a merchant server via a first network and choosing to pay via a wireless mobile device wherein said wireless mobile device is adapted to access a wireless network and comprises a subscriber identification module (SIM) card slot and a magnetic stripe reader module electrically connected to said SIM card slot and wherein said magnetic stripe reader module is adapted to receive and read information stored in said magnetic stripe and transmit said information via said wireless network;
providing said merchant server with an identification information for said wireless mobile device;
creating a digital order comprising purchase information and said identification number for said wireless mobile device by said merchant server;
routing said digital order to an authentication server via said first network;
formatting said digital order into a first message wherein said first message is adapted to be transmitted over said wireless network;
routing said first message over said wireless network to said wireless mobile device;
displaying said first message on said wireless mobile device;
requesting and receiving authorization of payment from the customer via said wireless mobile device;
swiping said magnetic stripe through said magnetic stripe reader and retrieving payment card identification and security information;
formatting authorization result and payment card identification and security information into a second message and routing said second message to said authentication server;
authenticating and routing said second message to a financial institution, wherein said financial institution is the issuer of said payment card; and
approving and executing said payment at said financial institution. forwarding said payment approval to said authentication server and from said authentication server to said wireless mobile device; and
fulfilling said order to said customer by said merchant. - View Dependent Claims (20, 21, 22, 23)
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Specification