Method and System for Processing Secure Wireless Payment Transactions and for Providing a Virtual Terminal for Merchant Processing of Such Transactions
First Claim
1. A payment gateway system for processing electronic payment transactions, comprising:
- a web user interface module configured to provide an interface between the payment gateway system, a customer, and a merchant;
a virtual terminal module configured to communicate with a virtual terminal, wherein the virtual terminal is a wireless communication device having a point of sale processing application installed therein, the point of sale application being configured to;
wirelessly transmit a request for payment of a transaction to the payment gateway system; and
wirelessly receive an approval code for payment of the transaction from the payment gateway system;
a web services module configured to process and authorize the electronic payment transaction between the customer and the merchant;
an account funding interface module configured to establish an association between a customer financial account and the payment gateway system; and
a settlement and reconciliation module configured to generate and execute a transaction settlement instruction for settling the electronic payment transaction between the customer financial account and a merchant financial account.
1 Assignment
0 Petitions
Accused Products
Abstract
A system and method for processing a wireless electronic payment transaction is described. One embodiment comprises receiving a transaction authorization request for an electronic payment transaction from a customer, the authorization request submitted from a mobile communication device of the customer; authenticating the transaction authorization request; authorizing the transaction authorization request and transmitting an authorization code to the mobile communication device, the authorization code being communicated to a merchant from the customer; receiving a transaction approval request from the merchant, the transaction approval request submitted from a virtual terminal associated with the merchant, the virtual terminal being a wireless communication device having a point of sale processing application installed therein; authenticating the transaction approval request; approving the transaction approval request and transmitting an approval code to the virtual terminal; and generating and executing transaction settlement instructions between a financial account of the customer and a financial account of the merchant.
-
Citations
29 Claims
-
1. A payment gateway system for processing electronic payment transactions, comprising:
-
a web user interface module configured to provide an interface between the payment gateway system, a customer, and a merchant; a virtual terminal module configured to communicate with a virtual terminal, wherein the virtual terminal is a wireless communication device having a point of sale processing application installed therein, the point of sale application being configured to; wirelessly transmit a request for payment of a transaction to the payment gateway system; and wirelessly receive an approval code for payment of the transaction from the payment gateway system; a web services module configured to process and authorize the electronic payment transaction between the customer and the merchant; an account funding interface module configured to establish an association between a customer financial account and the payment gateway system; and a settlement and reconciliation module configured to generate and execute a transaction settlement instruction for settling the electronic payment transaction between the customer financial account and a merchant financial account. - View Dependent Claims (2, 3, 4, 5, 6, 7)
-
-
8. A virtual point of sale terminal for initiating and accepting a wireless electronic payment, the apparatus comprising:
-
a mobile communication device having wireless data communication capabilities, the mobile communication device configured to communicate with a payment gateway system; a point of sale processing application installed onto the mobile communications device, the point of sale processing application configured to; wirelessly transmit a request for payment of a transaction to the payment gateway system; and wirelessly receive an approval code for payment of the transaction from the payment gateway system. - View Dependent Claims (9, 10)
-
-
11. An electronic wallet apparatus configured for initiating a wireless electronic payment, the apparatus comprising:
-
a mobile communication device having wireless data communication capabilities, the mobile communication device configured to communicate with a payment gateway system; an electronic wallet application installed onto the mobile communication device, the electronic wallet application configured to; wirelessly transmit a personal identification number to the payment gateway system; wirelessly receive a financial account summary associated with the mobile communication device from the payment gateway system; wirelessly transmit a transaction amount and a desired financial account for funding a transaction to the payment gateway system; and wirelessly receive an authorization code for the transaction from the payment gateway system. - View Dependent Claims (12, 13, 14)
-
-
15. A method for processing a wireless electronic payment transaction, the method comprising:
-
receiving a transaction authorization request for an electronic payment transaction from a customer, the authorization request submitted from a mobile communication device associated with the customer; authenticating the transaction authorization request; authorizing the transaction authorization request and transmitting an authorization code to the mobile communication device, wherein the authorization code is communicated to a merchant from the customer; receiving a transaction approval request from the merchant, the transaction approval request submitted from a virtual terminal associated with the merchant, wherein the virtual terminal is a wireless communication device having a point of sale processing application installed therein; authenticating the transaction approval request; approving the transaction approval request and transmitting an approval code to the virtual terminal; and generating and executing a transaction settlement instruction between a financial account of the customer and a financial account of the merchant. - View Dependent Claims (16, 17, 18, 19, 20)
-
-
21. A method for wirelessly initiating an electronic payment transaction from a mobile communication device, the method comprising:
-
submitting an authorization code, a transaction amount and a merchant identifier to a payment gateway system, the authorization code being provided by a customer, the merchant identifier describing a merchant initiating the electronic transaction; receiving an approval code from the payment gateway system; and receiving an amount of funds representative of the transaction amount from a financial account selected by the customer. - View Dependent Claims (22)
-
-
23. A method for wirelessly paying for a transaction from an electronic wallet of a mobile communication device, the method comprising:
-
submitting a personal identification number and a device identifier to a payment gateway system, wherein the personal identification number is associated with the mobile communication device; receiving a summary of financial accounts from the payment gateway system, wherein the summary of financial accounts is associated with the mobile communication device; submitting a selected financial account from the summary of financial accounts and a transaction amount to the payment gateway system; receiving an authorization code from the payment gateway system, wherein the authorization code is associated with a pre-approval for the transaction amount; and receiving an electronic receipt of the transaction from one of a merchant associated with the transaction and the payment gateway system. - View Dependent Claims (24, 25, 26)
-
-
27. A method for verifying an identification of a person, the method comprising:
-
receiving an identification verification request from a customer, the identification verification request submitted from a mobile communication device associated with the customer; authenticating the identification verification request; transmitting an identification authorization code to the mobile communication device, wherein the identification authorization code is communicated to a requesting entity; receiving an identification authorization request from the requesting entity, the identification authorization request submitted from a virtual terminal associated with the requesting entity, wherein the virtual terminal is a wireless communication device having a point of sale processing application installed therein; authenticating the identification authorization request; and transmitting at least one identification credential associated with the customer to the requesting entity'"'"'s virtual terminal. - View Dependent Claims (28, 29)
-
Specification