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M-commerce virtual cash system, method, and apparatus

  • US 8,875,995 B2
  • Filed: 06/14/2013
  • Issued: 11/04/2014
  • Est. Priority Date: 03/15/2006
  • Status: Active Grant
First Claim
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1. A computer operated method for operating a virtual cash system comprising:

  • storing at a processing center a first account record, the first account record associated with a first wireless device, the first account record comprising a first amount of virtual cash;

    storing at the processing center a security code, wherein the security code includes data for verification of security information;

    storing at the processing center a second account record, the second account record associated with a merchant;

    receiving at the processing center a communication from a communications network, the communication from the communications network comprising;

    an identifier for the second account record associated with a merchant;

    an identifier for the first account record associated with the first wireless device;

    security information; and

    an instruction to transfer a second amount of virtual cash from the first account record to the second account record;

    verifying the security information at the processing center by reference to the security code;

    comparing the second amount of virtual cash to the first amount of virtual cash; and

    transmitting the verification of the security information over the communications network.

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