Collaborative negotiation techniques for mobile personal trusted device financial transactions
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Accused Products
Abstract
Techniques for negotiation techniques for mobile personal trusted device financial transactions are provided. A user of a mobile personal trusted device sets user preferences that define the user'"'"'s preferred parameters for conducting financial transactions. A merchant sets merchant preferences that define the merchant'"'"'s preferred parameters for conducting financial transactions. When a financial transaction is initiated, a user preference and a merchant preferences are accessed. A negotiated preference is generated that accommodates both the user preference and the merchant preference. If the user preference and the merchant preference are not mutually exclusive, the negotiated preference attempts to satisfy both preferences. If the user preference and the merchant preference are mutually exclusive, the negotiated preference satisfies at least one of the two preferences based on which of the two preferences has a higher priority. The financial transaction is conducted based on the negotiated preference.
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Citations
47 Claims
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1-24. -24. (canceled)
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25. A method for processing a commercial transaction, the method comprising:
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receiving at a card reader data from a mobile personal trusted device, said data including a first data type indicating an open-loop transaction account, and a second data type indicating a closed-loop transaction account; recognizing at the reader the first data type and the second data type; selecting at the reader between the open-loop transaction account and the closed-loop transaction account according to a predetermined merchant preference; and conducting the transaction at the reader according to the selected transaction account. - View Dependent Claims (26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40)
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41. A method comprising:
causing a personal trusted device to transmit to a card reader, data including a first data type indicating an open-loop transaction account, and a second data type indicating a closed-loop transaction account, such that the reader selects between the open-loop transaction account and the closed-loop transaction account according to a predetermined merchant preference and conducts the transaction according to the selected transaction account. - View Dependent Claims (42, 43, 44, 45, 46, 47)
Specification