System and Method for Conducting Commercial Transactions
First Claim
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1. A system, comprising:
- a processing center;
at least one mobile device configured to communicate with the processing center, wherein a quantity of financial value is stored in an account associated with the mobile device; and
wherein the mobile device is configured to conduct one or more commercial transactions with a third party device employing the processing center as an intermediary for the one or more transactions.
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Abstract
A system and method are disclosed which may include providing a processing center, at least one mobile device, and a third party device, wherein quantities of financial value are stored in accounts associated, respectively, with the at least one mobile device and the third party device; enabling communication between the at least one mobile device and the processing center; enabling communication between the third party device and the processing center; conducting at least one commercial transaction between the mobile device and the third party device; and employing the processing center as an intermediary for the commercial transaction.
91 Citations
25 Claims
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1. A system, comprising:
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a processing center; at least one mobile device configured to communicate with the processing center, wherein a quantity of financial value is stored in an account associated with the mobile device; and wherein the mobile device is configured to conduct one or more commercial transactions with a third party device employing the processing center as an intermediary for the one or more transactions. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
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11. A method, comprising:
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a. providing a processing center, at least one mobile device, and a third party device, wherein quantities of financial value are stored in accounts associated, respectively, with the at least one mobile device and the third party device; b. enabling communication between the at least one mobile device and the processing center; c. enabling communication between the third party device and the processing center; d. conducting at least one commercial transaction between the mobile device and the third party device; and e. employing the processing center as an intermediary for the commercial transaction. f. The method of claim 11 wherein the employing step comprises; g. creating a temporary account accessible by the processing center to store value associated with the commercial transaction. h. The method of claim 11 wherein the conducting step comprises; i. requesting a given transaction by the mobile device. - View Dependent Claims (14, 15, 16, 17)
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13. The method of claim 13 wherein the conducting step further comprises:
a. authorizing the given transaction by the processing center. - View Dependent Claims (12)
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21. The method of claim 21 wherein the third party device is an automatic teller machine (ATM), and wherein the conducting step comprises:
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a. creating a temporary account by the processing center; b. transferring a given amount of value from the mobile device to the processing center for access from the ATM; c. storing the given amount of value in the temporary account; d. accessing the ATM by a user of the mobile device; and e. transferring currency having the given amount of value to the mobile device user at the ATM. - View Dependent Claims (18, 19, 20, 22, 23)
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24. The method of claim 27 wherein the storing step comprises:
a. buffering the commercial transaction information for subsequent use.
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25. The method of claim 27 wherein the step of completing the plurality of commercial transactions is scheduled so as to minimize processing delay times at the processing center.
Specification