Wireless payment method and systems

• US 8,205,794 B2
• Filed: 10/31/2008
• Issued: 06/26/2012
• Est. Priority Date: 01/21/2005
• Status: Active Grant

• Current Assignee: Visa USA, Inc. (Visa, Inc.)
• Original Assignee: Visa USA, Inc. (Visa, Inc.)
• Inventors: Myers, Joan, Garrison, Sara, Carlson, Mark S.
• Primary Examiner(s): Le, Thien M
• Application Number:
  US12/263,298
• Publication Number:
  US 20090055316A1
• Time in Patent Office: 1,334 Days
• Field of Search: 235/380, 235/381, 235/382, 235/493, 235/486, 705/40, 705/26, 705/44, 705/67
• US Class Current: 235/380
• CPC Class Codes: G06Q 20/027 involving a payment switch or gateway
• CPC Class Codes: G06Q 20/085 involving remote charge determination or related payment systems
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• 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 20/3821 Electronic credentials
• 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 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

A method for conducting a transaction is disclosed. The method includes using a first portable electronic device, and directly transmitting a request for payment to a second portable electronic device through a wireless link. Then, the second portable electronic device transmits an approval of the request for payment to the first portable electronic device. One of the first and the second portable electronic devices then sends the request for payment to a payment hub service. The payment hub service then facilitates the transfer of funds from a payer institution to a payee institution to complete the transaction.

Claims

1. A method comprising:

receiving, by a server computer, an instruction to transfer funds from a payer account at a payer institution to a payee account at a payee institution, wherein the instruction is received from a payment services hub after the payment services hub receives an approval of a request for payment, wherein the request for payment comprises a payment amount, wherein the approval of the request for payment was obtained after a first portable electronic device directly transmitted the request for payment to a second portable electronic device through a wireless link, and after the approval of the request was received at the first portable electronic device, wherein the approval was sent directly from the second portable electronic device to the first portable electronic device through the wireless link; and

then

sending funds from the payer account to the payee account.

2. The method of claim 1 wherein the payer institution is a payer bank and the payee institution is a payee bank.

3. The method of claim 1 wherein the first portable electronic device is a personal digital assistant or a mobile phone.

4. The method of claim 1 wherein the first portable electronic device is operated by a seller and the second portable electronic device is operated by a buyer.

5. The method of claim 1 wherein the wireless link comprises an infrared, RF, or optical link.

6. The method of claim 1 wherein trust was established between the first portable electronic device and the second portable electronic device before the first portable electronic device directly transmitted the request for payment to the second portable electronic device.

7. The method of claim 6 wherein the first portable electronic device is a personal digital assistant or a mobile phone.

8. The method of claim 7 wherein the first portable electronic device is operated by a seller and the second portable electronic device is operated by a buyer.

9. The method of claim 7 wherein the wireless link comprises an infrared, RF, or optical link.

10. The method of claim 2 wherein trust was established between the first portable electronic device and the second portable electronic device before the first portable electronic device directly transmitted the request for payment to the second portable electronic device.

11. The method of claim 10 wherein the wireless link comprises an infrared, RF, or optical link.

12. The method of claim 10 wherein the first and second portable electronic devices comprise displays.

13. The method of claim 1 wherein the first and second portable electronic devices comprise displays.

14. The method of claim 13 wherein the first and second portable electronic devices comprise digital certificates.

15. The method of claim 1 wherein the first and second portable electronic devices comprise digital certificates.

16. The method of claim 1 wherein the request for payment further comprises the currency being used.

17. The method of claim 1 wherein the request for payment further comprises role information.

18. The method of claim 1, further comprising:

after sending funds from the payer account to the payee account, transmitting a conformation to the payment services hub, wherein the payment services hub transmits advice records to the payer account and payee account for audit and tracking purposes.

19. A computer-readable medium comprising code, executable by a processor, for performing the steps of:

receiving an instruction to transfer funds from a payer account at a payer institution to a payee account at a payee institution, wherein the instruction is received from a payment services hub after the payment services hub receives an approval of a request for payment, wherein the request for payment comprises a payment amount, wherein the approval of the request for payment was obtained after a first portable electronic device directly transmitted the request for payment to a second portable electronic device through a wireless link, and after the approval of the request was received at the first portable electronic device, wherein the approval was sent directly from the second portable electronic device to the first portable electronic device through the wireless link; and

then

sending funds from the payer account to the payee account.

20. The computer readable medium of claim 19, wherein the first portable electronic device is a personal digital assistant or a mobile phone, wherein the first portable electronic device is operated by a seller and the second portable electronic device is operated by a buyer, and wherein the wireless link comprises an infrared, RF, or optical link.