Location-based payment system and method

• US 9,691,066 B2
• Filed: 07/03/2012
• Issued: 06/27/2017
• Est. Priority Date: 07/03/2012
• Status: Active Grant

• Current Assignee: Verifone, Inc. (Verifone Systems, Inc.)
• Original Assignee: Verifone, Inc. (Verifone Systems, Inc.)
• Inventors: McGuinness, Brad, Ezell, David, Jannarone, Paul, Vlugt, Erik, Roach, Mike Thomas
• Primary Examiner(s): Obaid, Fateh M
• Application Number:
  US13/541,089
• Publication Number:
  US 20140012688A1
• Time in Patent Office: 1,820 Days
• Field of Search: None
• CPC Class Codes: G06Q 20/18 involving self-service terminals [SST], vending machines, kiosks or multimedia terminals
• CPC Class Codes: G06Q 20/202 Interconnection or interaction of plural electronic cash registers [ECR] or to host computer, e.g. network details, transfer of information from host to ECR or from ECR to ECR
• CPC Class Codes: G06Q 20/3224 Transactions dependent on location of M-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 20/405 Establishing or using transaction specific rules
• CPC Class Codes: H04W 4/021 Services related to particular areas, e.g. point of interest [POI] services, venue services or geofences

Abstract

A virtual payment system including a customer-specific, customer geolocation responsive, limited time duration payment identifier generator operative to generate a customer-specific, customer geolocation responsive, limited time duration payment identifier, a customer-specific limited time duration payment identifier communicator operative to communicate the customer-specific, customer geolocation responsive, limited time duration payment identifier to a customer and a limited time duration payment identifier validator, operative to verify genuineness and timeliness of the customer-specific, customer geolocation responsive, limited time duration payment identifier presented by the customer at a point of sale.

Claims

1. A remotely-initiated transaction system comprising:

a customer-specific, merchant location-specific, customer geolocation responsive, limited time duration transaction identifier generator operative to automatically generate, in response to a customer order for at least one specific product, a customer-specific, merchant location-specific, customer geolocation responsive, limited time duration transaction identifier, said limited time duration transaction identifier being valid for a geolocation-determined time duration sufficient to allow a customer to reach a merchant location and complete purchase activity, said geolocation-determined time duration being a function of vehicular travel time between a location of said a-customer at a time of generation of said customer-specific, customer geolocation responsive, limited time duration transaction identifier and said merchant location;

a customer-specific, merchant location-specific, limited time duration transaction identifier communicator operative to automatically communicate said customer-specific, merchant location-specific, customer geolocation responsive, limited time duration transaction identifier as well as information relating to said merchant location to said customer;

a limited time duration transaction identifier validator, communicating with a point of sale (POS) device, operative to automatically verify genuineness and timeliness of said customer-specific, merchant location-specific, customer geolocation responsive, limited time duration transaction identifier presented by said customer at said merchant location;

wherein said customer-specific, merchant location-specific, customer geolocation responsive, limited time duration transaction identifier generator is remotely located from said POS device.

2. The virtual payment system according to claim 1 and wherein said customer-specific, merchant location-specific, customer geolocation responsive, limited time duration transaction identifier is also operative as a purchase identifier.

3. The virtual payment system according to claim 1 and wherein said limited time duration transaction identifier validator is located at said POS device.

4. The virtual payment system according to claim 1 and wherein said limited time duration transaction identifier validator is remotely located from said POS device.

5. The virtual payment system according to claim 1 and wherein said limited time duration transaction identifier is valid at a single point of sale.