System and method for controlling financial transactions over a wireless network

• US 20060190351A1
• Filed: 04/17/2006
• Published: 08/24/2006
• Est. Priority Date: 12/23/1997
• Status: Active Grant

• Current Assignee: Unwired Planet LLC (JP Morgan Chase & Co)
• Original Assignee: Charles L. Dennis
• Inventors: Dennis, Charles L.
• Granted Patent: US 7,711,100 B2
• Time in Patent Office: Days
• US Class Current: 379/201.01
• CPC Class Codes: G06F 3/04842 Selection of displayed objects or displayed text elements G06F3/0482 takes precedence
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/202 Interconnection or interaction of plural electronic cash registers [ECR] or to host computer, e.g. network details, transfer of information from host to ECR or from ECR to ECR
• CPC Class Codes: G06Q 20/3224 Transactions dependent on location of M-devices
• CPC Class Codes: G06Q 20/3226 Use of secure elements separate from M-devices
• CPC Class Codes: G06Q 20/326 Payment applications installed on the mobile devices
• CPC Class Codes: G06Q 20/3674 involving authentication
• CPC Class Codes: G06Q 20/42 Confirmation, e.g. check or permission by the legal debtor of payment
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: H04L 67/04 specially adapted for terminals or networks with limited capabilities; specially adapted for terminal portability
• CPC Class Codes: H04L 67/306 User profiles
• CPC Class Codes: H04L 67/51 Discovery or management thereof, e.g. service location protocol [SLP] or web services
• CPC Class Codes: H04L 67/535 Tracking the activity of the user network monitoring arrangements H04L43/00; recording of computer activity G06F11/34
• CPC Class Codes: H04M 15/68 Payment of value-added services
• CPC Class Codes: H04M 2215/00 Metering arrangements; Time controlling arrangements; Time indicating arrangements
• CPC Class Codes: H04M 2215/0176 Billing arrangements using internet
• CPC Class Codes: H04M 2215/0196 Payment of value-added services, mainly when their charges are added on the telephone bill, e.g. payment of non-telecom services, e-commerce, on-line banking
• CPC Class Codes: H04M 2215/32 Involving wireless systems
• CPC Class Codes: H04W 4/025 : using location based information parameters

Abstract

A system and method for controlling financial transactions is disclosed. A customer, using a wireless device, identifies a point of sale and the amount of a transaction at that point of sale is first communicated to a central service and then transmitted to the wireless device for display at the wireless device. The customer can either accept the transaction amount to complete the transaction or reject the amount to cancel the transaction. The customer may have to enter a password or personal identification number to verify the authorization to use the wireless financial system. The customer is billed for the transaction via credit, debit, ATM or other methods, such as the wireless carrier or an internet provider.

Claims

1-75. -75. (canceled)

76. A method for controlling a transaction at a point of sale location comprising the steps of:

identifying a customer using a wireless device;

identifying a transaction amount for said transaction;

correlating said identified customer and said identified transaction amount;

selecting at least one source of funds for said customer;

charging said transaction amount to said at least one source of funds; and

crediting said transaction amount to an account selected by a merchant at said point of sale location.

78. The method of claim 76 wherein said source of funds selecting step is completed contemporaneously with said transaction.

79. The method of claim 76 further comprising the step of:

creating a customer profile, wherein said at least one source of funds is selected during said profile creating step.

83. The method of claim 76 wherein said at least one source of funds is a wireless network provider account.

77. (canceled)

80-82. -82. (canceled)

85-105. -105. (canceled)

106. A method for controlling transactions using a wireless device in a wireless network comprising the steps of:

displaying point-of-sale locations to a user via one or more menus on the wireless device, the menus listing at least one point-of-sale location based upon a current location of the wireless device;

determining a particular point-of-sale location that is selected by the user for a desired transaction;

obtaining transaction amounts for one or more transactions at said particular point-of-sale location;

correlating one of said transaction amounts with the user'"'"'s desired transaction;

transmitting the correlated transaction amount to the wireless device for display to the user; and

charging the correlated transaction amount to a source of funds identified by the user to allow completion of the desired transaction.

107. The method of claim 106 further comprising the step of:

receiving approval of said transaction amount from the user via the wireless device.

108. The method of claim 106 wherein the users identify potential sources of funds before the desired transaction occurs by configuring a user profile.

109. The method of claim 106 wherein a source of funds that is to be used for a particular transaction is selected from the user profile by the user during the transaction.

110. A method for completing a financial transaction using a wireless device comprising:

connecting a user to a centralized financial services application via a wireless network;

identifying a current location of the user by determining a current wireless network cell that is in communication with the user'"'"'s wireless device;

transmitting a list of transaction locations to be displayed to the user via the wireless device, wherein said list of transaction locations is selected from a user profile and is selected in part based upon the user'"'"'s current location;

receiving a transaction location selection from the user;

transmitting a list of point-of-sale terminals to be displayed to the user via the wireless device, wherein the point-of-sale terminals are located at the selected transaction location;

receiving a point-of-sale selection from the user;

transmitting a transaction amount to be displayed to the user via the wireless device, wherein the transaction amount is associated with the selected point-of-sale terminal;

prompting the user to accept or reject the displayed transaction amount; and

authorizing a financial transaction for the transaction amount at the point-of-sale terminal.

111. The method of claim 110 further comprising:

identifying a current location of the user by determining a current wireless network cell that is in communication with the user'"'"'s wireless device, wherein the list of transaction locations is selected in part based upon the user'"'"'s current location.