RFID-based system and method of conducting financial transactions
First Claim
1. A method of conducting a financial transaction between a consumer and a merchant, the method comprising:
- a) communicating to a RFID reader a transaction amount for completing the financial transaction;
b) displaying the transaction amount on the RFID reader;
c) placing a RFID tag in close proximity to the reader to communicate acceptance of the transaction by the consumer.
1 Assignment
0 Petitions
Accused Products
Abstract
A RFID-based method and system for conducting a financial transaction is disclosed. The method includes the steps of: (a) communicating to a RFID reader a transaction amount for completing the financial transaction; (b) displaying the transaction amount on the RFID reader; and (c) placing a RFID tag in close proximity to the reader to communicate acceptance of the transaction by the consumer. The system includes a RFID reader capable of communicating with a RFID tag and a POS terminal. The RFID reader displays a transaction amount to the consumer. The RFID reader is capable of detecting acceptance of the transaction by the consumer when the RFID tag is placed in close proximity to the reader. The system also includes a processing system for completing the transaction which communicates with the POS terminal.
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Citations
35 Claims
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1. A method of conducting a financial transaction between a consumer and a merchant, the method comprising:
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a) communicating to a RFID reader a transaction amount for completing the financial transaction;
b) displaying the transaction amount on the RFID reader;
c) placing a RFID tag in close proximity to the reader to communicate acceptance of the transaction by the consumer. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23)
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24. A system for conducting a financial transaction between a consumer and a merchant, the system comprising:
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a) a RFID tag;
b) a RFID reader adapted to detect acceptance of the transaction amount by the consumer when the RFID tag is placed in close proximity with the RFID reader;
c) a POS terminal adapted for communication with the RFID reader; and
d) a processing system adapted for communication with the POS terminal, wherein the processing system is adapted to complete the transaction. - View Dependent Claims (25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35)
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Specification