LOCATION-AWARE PAYMENT SYSTEM

• US 20100268618A1
• Filed: 04/14/2010
• Published: 10/21/2010
• Est. Priority Date: 04/15/2009
• Status: Active Grant

• Current Assignee: George C. Mcquilken
• Original Assignee: George C. Mcquilken
• Inventors: McQuilken, George C.
• Granted Patent: US 8,131,596 B2
• Time in Patent Office: Days
• US Class Current: 705/26
• CPC Class Codes: G06Q 20/308 using the Internet of Things
• CPC Class Codes: G06Q 20/32 using wireless devices
• CPC Class Codes: G06Q 20/3224 Transactions dependent on location of M-devices
• CPC Class Codes: G06Q 20/3278 RFID or NFC payments by means of M-devices
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 20/401 Transaction verification
• CPC Class Codes: G06Q 30/0284 Time or distance, e.g. usage of parking meters or taximeters
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes

Abstract

In a first embodiment, a location-aware payment system including: a smart device, the smart device including: a location sensing mechanism for detecting its location; an identification mechanism for identifying the smart device; and a wireless communication mechanism; a display device having at least one of an indicator light, a printed receipt, and a digital read out; and a server, the server including: a wireless communication mechanism communicating with the smart device and display device; and a software program loaded into the server that receives and sends out communications, calculates amounts due between a payor and a payee, issues authorization codes, and performs banking transactions between a payor and a payee. In a second embodiment, the invention is a location-aware payment system including: at least two smart devices, the smart devices including: a location sensing mechanism for detecting its location; an identification mechanism for identifying the smart device; and a wireless communication mechanism; and a server, the server including: a wireless communication mechanism communicating with the smart devices; and a software program loaded into the server that receives and sends out communications, calculates amounts due between a payor and a payee, issues authorization codes, and performs banking transactions between a payor and a payee.

Claims

1. A location-aware payment system comprising:

a smart device, the smart device comprising;

a location sensing means for detecting its location;

an identification means for identifying the smart device; and

a wireless communication means;

a display device having at least one of an indicator light, a printed receipt, and a digital read out; and

a server, the server comprising;

a wireless communication means communicating with the smart device and display device; and

a software program residing on a computer hard drive that receives and sends out communications to the smart device and the display device, and calculates amounts due between a payor and a payee.

2. The system of claim 1, wherein the software program also performs banking transactions between a payor and a payee.

3. The system of claim 2, wherein the software program also issues authorization codes.

4. The system of claim 1, wherein the location sensing means is one selected from the group consisting of a GPS receiver, a system that triangulates position between cell towers, a WiFi positioning system receiver, and an XPS receiver.

5. The system of claim 1, wherein the wireless communication means is one selected from the group consisting of 3G, 4G, Edge, WiFi, NFC, and Bluetooth.

6. A method of paying for parking comprising the steps of:

a user selecting “

park” and

a “

duration”

on a smart device having an ID;

calculating the user'"'"'s location and the accuracy of the location;

transmitting the smart device ID, location, and duration to a server;

calculating a charge, payor, and payee based on the received ID, location, and duration;

transmitting the charge and an authorization code to the smart device;

transmitting the duration and authorization code to a display device; and

the display device displaying one of an indicator light, printed receipt, UPC code placard, wireless transmitter, or digital read out timer for the duration.

7. The method of claim 6 further comprising the step of calculating a fee, debiting the payor, and crediting the payee.

9. The method of claim 6 further comprising the step of the smart device displaying a warning message at a pre-determined amount of time before the end of the duration.

10. The method of claim 9 further comprising the step of purchasing additional duration using the smart device by repeating the previous steps.

8. The method of claim further comprising the step of transmitting an information message to the smart device.

11. A location-aware payment system comprising:

at least two smart devices, the smart devices comprising;

a location sensing means for detecting its location;

an identification means for identifying the smart device; and

a wireless communication means; and

a server, the server comprising;

a wireless communication means communicating with the smart devices; and

a software program loaded into the server that receives and sends out communications, and calculates amounts due between a payor and a payee.

12. The system of claim 11, wherein the software program also performs banking transactions between a payor and a payee.

13. The system of claim 12, wherein the software program also issues authorization codes.

14. The system of claim 11, wherein the location sensing means is a GPS receiver, XPS receiver, or a system that triangulates position between cell towers.

15. The system of claim 11, wherein the wireless communication means is one selected from the group consisting of 3G, 4G, Edge, WiFi, NFC, and Bluetooth.

16. A method of paying for merchandise in a transaction between a mobile shopper and a mobile vendor comprising the steps of:

a shopper entering an area and selecting a “

shop”

feature on a smart device;

calculating a shopper'"'"'s location and accuracy of the location;

the smart device transmitting the shopper location to a server;

the server transmitting a vendor list, organized by distance from the shopper, to the shopper;

the shopper selecting a vendor'"'"'s merchandise;

the shopper selecting the “

buy”

feature on the smart device;

an application residing on the smart device replying with vendors by distance;

the shopper selecting the vendor to pay;

sending a message alert to the vendor asking amount to pay;

the vendor responding with the amount to pay;

displaying the amount on the shopper'"'"'s smart device;

the shopper approves transaction on the smart device to pay the vendor;

the shopper'"'"'s smart device transmitting ID, location, vendor, and amount to the server;

the server accounting debiting shopper and crediting vendor;

the server transmitting an acknowledgement to the shopper'"'"'s smart device and vendor'"'"'s smart device.

17. The method of claim 16, further comprising the step of the server transmitting a list of friends to the smart device organized by distance from the shopper.

18. The method of claim 16, further comprising the step of the server transmitting a list of favorite vendors to the smart device organized by distance from the shopper.

19. The method of claim 16, further comprising the step of updating a merchandise inventory.

20. The method of claim 16, further comprising the step of calculating required taxes.