PAYMENT INITIATION AND ACCEPTANCE SYSTEM

• US 20140164154A1
• Filed: 05/13/2013
• Published: 06/12/2014
• Est. Priority Date: 05/15/2012
• Status: Abandoned Application

• Current Assignee: Bphav LLC, iCache, Inc.
• Original Assignee: Bphav LLC
• Inventors: Ramaci, Jonathan E.
• Application Number:
  US13/893,013
• Publication Number:
  US 20140164154A1
• Time in Patent Office: Days
• US Class Current: 705/16
• CPC Class Codes: G06Q 20/326 Payment applications installed on the mobile devices
• CPC Class Codes: G06Q 20/3278 RFID or NFC payments by means of M-devices
• CPC Class Codes: G06Q 20/3674 involving authentication
• CPC Class Codes: G06Q 20/3825 Use of electronic signatures
• CPC Class Codes: G06Q 20/405 Establishing or using transaction specific rules
• CPC Class Codes: G07F 7/0873 Details of the card reader
• CPC Class Codes: G07F 7/0893 the card reader reading the card in a contactless manner

Abstract

Payment acceptance transaction apparatus are standalone devices or associated with mobile devices running an application facilitating payment acceptance. Users indicate transaction preferences and a desire to accept payment from another party. Transaction apparatus receives payment data from the other party'"'"'s device, such as by capturing data from a magnetic strip of a bank card using a strip reader or by receiving a wireless communication including payment data from the other user'"'"'s mobile device or the cloud. Transaction apparatus receives an electronic signature for authenticating the other user. The transaction apparatus stores payment data and other transaction data for later upload and payment confirmation, or may immediately upload the payment and transaction data in order to receive payment verification from a payment processing server. The application updates a display of the mobile device or transaction apparatus presenting a virtual receipt and/or information regarding the payee'"'"'s account(s), after verification of the transaction.

Claims

1. A system for payment initiation, the system comprising:

an input device;

a transaction apparatus; and

an output device.

2. The system of claim 1, wherein the input device comprises a data reader.

3. The system of claim 2, wherein the data reader comprises a magnetic strip reader, still camera, video camera, chip card reader, NFC reader, or Bluetooth communicator.

4. The system of claim 1, wherein the input device comprises a user interface for receiving user input.

5. The system of claim 1, wherein the transaction apparatus is capable of communicating with a mobile device running an application for payment initiation.

6. The system of claim 1, wherein the transaction device comprises:

a memory; and

a processing device for accessing computer readable instructions stored in the memory and structured to cause the processing device to perform the steps of;

receiving instructions from a user application for facilitating payment initiation, the instructions based on user input indicating desire to enter into a payment transaction;

retrieving one or more pieces of payment information from the memory of the transaction apparatus, the one or more pieces of payment information corresponding to one or more accounts to be debited during the payment transaction; and

outputting the one or more pieces of payment information using an output device for facilitating payment using the one or more accounts.

7. The system of claim 6, wherein outputting comprises writing the one or more pieces of payment information to a writable device for use during an interaction with a merchant point of sale in place of an issued payment device.

8. The system of claim 6, wherein outputting comprises communicating the one or more pieces of payment information to a merchant system for payment processing.

9. The system of claim 8, wherein the communicating comprises wirelessly communicating over the Internet with the merchant system for payment processing.

10. The system of claim 6, wherein the computer readable instructions stored in the memory are further structured to cause the processing device to perform the steps of:

initiate capturing a user'"'"'s authentication information as a signature of the user; and

outputting the user'"'"'s authentication information and the payment information to a payment processing server.

28. The system of claim 2, wherein the data reader comprises a magnetic strip reader, still camera, video camera, chip card reader, NFC reader, or Bluetooth communicator.

11. A method for payment initiation, the method comprising:

providing a system for payment initiation comprising an input device;

a transaction apparatus; and

an output device.

12. The method of claim 11, wherein the input device comprises a data reader.

13. The method of claim 12, wherein the data reader comprises a magnetic strip reader, still camera, video camera, chip card reader, NFC reader, or Bluetooth communicator.

14. The method of claim 11, wherein the input device comprises a user interface for receiving user input.

15. The method of claim 11, further comprising communicating, by the transaction apparatus, with a mobile device running an application for payment initiation.

16. The method of claim 11, further comprising:

receiving instructions from a user application for facilitating payment initiation, the instructions based on user input indicating desire to enter into a payment transaction;

retrieving one or more pieces of payment information from the memory of the transaction apparatus, the one or more pieces of payment information corresponding to one or more accounts to be debited during the payment transaction; and

outputting the one or more pieces of payment information using an output device for facilitating payment using the one or more accounts.

17. The method of claim 16, wherein outputting comprises writing the one or more pieces of payment information to a writable device for use during an interaction with a merchant point of sale in place of an issued payment device.

18. The method of claim 16, wherein outputting comprises communicating the one or more pieces of payment information to a merchant system for payment processing.

19. The method of claim 18, wherein communicating comprises wirelessly communicating over the Internet with the merchant system for payment processing.

20. The method of claim 16, further comprising:

initiating capturing a user'"'"'s authentication information as a signature of the user; and

outputting the user'"'"'s authentication information and the payment information to a payment processing server.

21. A computer program product for payment initiation, the computer program product comprising a non-transitory computer-readable medium for storing computer-executable program code structured to cause a processor to perform the steps of:

receiving instructions from a user application for facilitating payment initiation, the instructions based on user input indicating desire to enter into a payment transaction;

retrieving one or more pieces of payment information from the memory of the transaction apparatus, the one or more pieces of payment information corresponding to one or more accounts to be debited during the payment transaction; and

outputting the one or more pieces of payment information using an output device for facilitating payment using the one or more accounts.

22. The computer program product of claim 21, wherein outputting comprises writing the one or more pieces of payment information to a writable device for use during an interaction with a merchant point of sale in place of an issued payment device.

23. The computer program product of claim 21, wherein outputting comprises communicating the one or more pieces of payment information to a merchant system for payment processing.

24. The computer program product of claim 23, wherein the communicating comprises wirelessly communicating over the Internet with the merchant system for payment processing.

25. The computer program product of claim 21, wherein the computer readable instructions stored in the memory are further structured to cause the processing device to perform the steps of:

initiating capturing a user'"'"'s authentication information as a signature of the user; and

outputting the user'"'"'s authentication information and the payment information to a payment processing server.

26. A system for payment acceptance, the system comprising:

an input device;

a transaction apparatus; and

an output device.

27. The system of claim 26, wherein the input device comprises a data reader.

29. The system of claim 26, wherein the input device comprises a user interface for receiving user input.

30. The system of claim 26, wherein the transaction apparatus is capable of communicating with a mobile device running an application for payment acceptance.

31. The system of claim 26, wherein the transaction device comprises:

a memory; and

a processing device for accessing computer readable instructions stored in the memory and structured to cause the processing device to perform the steps of;

receiving instructions from a user application for facilitating payment acceptance, the instructions based on user input indicating desire to enter into a payment acceptance transaction;

receiving payment data from a second user'"'"'s user device;

receiving electronic signature from second user;

uploading payment data to a payment processing server for payment confirmation; and

presenting, via a display, information regarding the transaction.

32. A computer program product for payment acceptance, the computer program product comprising a non-transitory computer-readable medium for storing computer-executable program code structured to cause a processor to perform the steps of:

receiving instructions from a user application for facilitating payment acceptance, the instructions based on user input indicating desire to enter into a payment acceptance transaction;

receiving payment data from a second user'"'"'s user device;

receiving electronic signature from second user;

uploading payment data to a payment processing server for payment confirmation; and

presenting, via a display, information regarding the transaction.

33. A method for payment acceptance, the method comprising:

receiving instructions from a user application for facilitating payment acceptance, the instructions based on user input indicating desire to enter into a payment acceptance transaction;

receiving payment data from a second user'"'"'s user device;

receiving electronic signature from second user;

uploading payment data to a payment processing server for payment confirmation; and

presenting, via a display, information regarding the transaction.