Systems and methods for card present transaction without sharing card information
First Claim
1. A system, comprising:
- a merchant'"'"'s mobile device configured to be coupled to a card reader output jack insertable and removable from a microphone port of the mobile device;
a decoding engine configured to decode signals from a swipe of a card through a slot of the card reader;
a filter that smooth'"'"'s out at least a portion of high frequency noise of signals received from the card reader;
a user interaction engine which in operation, accepts an input of information of a buyer'"'"'s financial transaction with a merchant;
a transaction engine taking as its input decoded card information from the decoding engine and a transaction amount from the user interaction engine, the transaction engine serving as an intermediary between the buyer and the merchant, so that the buyer'"'"'s card information is not stored with the merchant'"'"'s mobile device, the transaction engine acceptinginformation of the buyer'"'"'s financial transaction and the buyer'"'"'s card information;
communicates with a third party financial institution to authorize the transaction, the third party financial institution being coupled to a buyer'"'"'s financial institution that issued the card;
the third party financial institution presenting results of the transaction to the buyer without sharing the card information with the merchant'"'"'s mobile device; and
a transaction database in communication with the transaction engine and is external to merchant'"'"'s mobile device and configured to send a receipt to the buyer.
4 Assignments
0 Petitions
Accused Products
Abstract
A new approach is proposed that contemplates systems and methods to enable an individual to complete a financial transaction by swiping a magnetic stripe card through a card reader connected to a mobile device. The size of the card reader is miniaturized to be portable for connection with the mobile device. The card reader is configured to reliably read data encoded in a magnetic strip of the card with minimum error in a single swipe and provide a signal that corresponds to the data read to the mobile device, which then decodes the incoming signal from the card reader and acts as a point-of-sale device to complete the financial transaction. Such an approach enables a person to become either a micro-merchant (payee) or a buyer/customer (payer) without having to purchase expensive card reader devices or software.
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Citations
19 Claims
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1. A system, comprising:
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a merchant'"'"'s mobile device configured to be coupled to a card reader output jack insertable and removable from a microphone port of the mobile device; a decoding engine configured to decode signals from a swipe of a card through a slot of the card reader; a filter that smooth'"'"'s out at least a portion of high frequency noise of signals received from the card reader; a user interaction engine which in operation, accepts an input of information of a buyer'"'"'s financial transaction with a merchant; a transaction engine taking as its input decoded card information from the decoding engine and a transaction amount from the user interaction engine, the transaction engine serving as an intermediary between the buyer and the merchant, so that the buyer'"'"'s card information is not stored with the merchant'"'"'s mobile device, the transaction engine accepting information of the buyer'"'"'s financial transaction and the buyer'"'"'s card information; communicates with a third party financial institution to authorize the transaction, the third party financial institution being coupled to a buyer'"'"'s financial institution that issued the card; the third party financial institution presenting results of the transaction to the buyer without sharing the card information with the merchant'"'"'s mobile device; and a transaction database in communication with the transaction engine and is external to merchant'"'"'s mobile device and configured to send a receipt to the buyer. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11)
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12. A method comprising:
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inputting an amount of a financial transaction through an interactive user application launched on a merchant'"'"'s mobile device coupling and decoupling a card reader to the merchant'"'"'s mobile device via a microphone port of the merchant'"'"'s mobile device, the card reader structured to minimize swipe error to the mobile device that includes a transaction engine and a user interaction engine; swiping a card through the card reader to initiate the financial transaction; confirming the amount of the transaction via a signature signed via the interactive user application on the mobile device to complete the transaction; presenting results of the transaction to at least one of, a payer and a merchant; swiping a card through the card reader to initiate the financial transaction; confirming the amount of the transaction via a signature signed via the interactive user application on the mobile device to complete the transaction; using a filter that smooth'"'"'s out at least a portion of high frequency noise of signals received from the card reader; decoding signals from a swipe of a card through a slot of the card reader with a decoding engine; applying the buyer'"'"'s signature to the mobile device; and using a transaction database in communication with the transaction engine and is external to merchant'"'"'s mobile device to send a receipt to the buyer.
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13. A method, comprising:
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accepting an input of information of a financial transaction from a buyer using a card reader with an output jack that is configured to be coupled and decoupled to and from a microphone port of a merchant'"'"'s mobile device; decoding signals from a swipe of a card into card information; accepting information of the financial transaction and the card information; communicating with third party financial institution to authorize the transaction; using a filter that smoothes out at least a portion of high frequency noise of signals received from the card reader; decoding signals from a swipe of a card through a slot of the card reader with a decoding engine; applying the buyer'"'"'s signature to the mobile device; and using a transaction database in communication with the transaction engine and is external to merchant'"'"'s mobile device to send a receipt to the buyer. - View Dependent Claims (14, 15, 16, 17, 18, 19)
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Specification