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SYSTEM AND METHOD FOR ACTIVATING TELEPHONE-BASED PAYMENT INSTRUMENT

  • US 20070262134A1
  • Filed: 05/10/2006
  • Published: 11/15/2007
  • Est. Priority Date: 05/10/2006
  • Status: Active Grant
First Claim
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1. A method for activating a payment instrument in the form of a mobile device, wherein the mobile device employs telecommunications signaling and has a payment instrument module that employs separate wireless signaling for storing and transmitting an account identifier, the method comprising:

  • associating a personal identifier with the account identifier and providing that personal identifier to a user prior to activation of the payment instrument;

    placing the mobile device in proximity to an external wireless device;

    transmitting an account identifier from the external wireless device to the payment instrument module;

    requesting a personal identifier be provided by the user; and

    enabling the payment instrument to use the transmitted account identifier if the requested personal identifier provided by the user matches the personal identifier associated with the account identifier.

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