VIRTUAL POINT OF SALE TERMINAL AND ELECTRONIC WALLET APPARATUSES AND METHODS FOR PROCESSING SECURE WIRELESS PAYMENT TRANSACTIONS

• US 20120030044A1
• Filed: 08/15/2011
• Published: 02/02/2012
• Est. Priority Date: 08/28/2007
• Status: Abandoned Application

• Current Assignee: Mocapay, Inc. (Moca Financial, Inc.)
• Original Assignee: Mocapay, Inc. (Moca Financial, Inc.)
• Inventors: HURST, Douglas J.
• Application Number:
  US13/210,125
• Publication Number:
  US 20120030044A1
• Time in Patent Office: Days
• US Class Current: 705/18
• CPC Class Codes: G06Q 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• CPC Class Codes: G06Q 20/12 specially adapted for electronic shopping systems
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/322 Aspects of commerce using mobile devices [M-devices]
• CPC Class Codes: G06Q 20/326 Payment applications installed on the mobile 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 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/12 Accounting

Abstract

Apparatuses and methods for a virtual point of sale terminal and an electronic wallet are described. One embodiment is a virtual point of sale terminal for initiating and accepting a wireless electronic payment, comprising a mobile communication device configured to communicate with a payment gateway system and a point of sale processing application installed in the mobile communications device, the point of sale processing application being configured to wirelessly transmit a request for payment of a transaction to the payment gateway system and to wirelessly receive an approval code for payment of the transaction from the payment gateway system.

Claims

1. 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.

2. The virtual point of sale terminal of claim 1, wherein the point of sale processing application is further configured to:

generate an electronic receipt of the transaction, wherein the electronic receipt includes a summary of the electronic transaction; and

wirelessly transmit the electronic receipt to a customer associated with the transaction.

3. The virtual point of sale terminal of claim 1, wherein the mobile communication device is one of a WI-FI enabled mobile phone, a personal digital assistant, a laptop computer and a desktop computer.

4. 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.

5. The electronic wallet of claim 4, wherein the electronic wallet application is further configured to:

wirelessly receive an electronic receipt of the transaction from one of a virtual terminal associated with a merchant and the payment gateway system.

6. The electronic wallet of claim 4, wherein the financial account summary further comprises:

a listing of financial accounts associated with the mobile communication device;

a listing of balances for each of the listing of financial accounts; and

a listing of account codes corresponding to each of the listing of financial accounts.

7. The electronic wallet of claim 4, wherein the mobile communication device is a WI-FI enabled mobile phone.

8. 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.

9. The method of claim 8, wherein the summary of financial accounts comprises:

a listing of financial accounts associated with the mobile communication device;

a listing of balances for each of the listing of financial accounts; and

a listing of account codes corresponding to each of the listing of financial accounts.

10. The method of claim 9, wherein the listing of financial accounts comprises:

a first account representative of a bank checking account;

a second account representative of a traditional credit card account; and

a third account representative of store specific charge account.

11. The method of claim 10, further comprising:

submitting the account code associated with the third account to fund the transaction, wherein a store associated with the third bank account is different than a store associated with the merchant.