Computerized person-to-person payment system and method without use of currency
First Claim
1. An electronic funds system, comprising:
- a plurality of payment devices, each payment device comprising;
a payment application for (i) transferring funds to another payment device, (ii) receiving funds from another payment device, and (iii) synchronizing transactions with a bank server computer;
a queue manager for queuing transactions for synchronization with the bank server computer;
an encoder for encrypting transaction information;
a proximity communication module for wirelessly communicating with another of said plurality of payment devices over a short range;
a wireless communication module for communicating with a client computer and with the bank server computer over a long range;
a plurality of client computers, each computer comprising;
a payment device manager for (i) transmitting funds to a payment device, (ii) receiving funds from a payment device, and (iii) setting payment device parameters; and
a wireless communication module for communicating with at least one of said plurality of payment devices and with a bank server computer over a long range; and
at least one bank server computer, each bank server computer comprising;
an account manager for (i) managing at least one bank account associated with at least one of said payment devices, and (ii) processing transactions received from said plurality of payment devices;
a decoder for decrypting encrypted transaction information; and
a wireless communication module for communicating with said plurality of payment devices and with said plurality of client computers over a long range.
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Accused Products
Abstract
An electronic funds system, including a plurality of payment devices, each payment device including a payment application for (i) transferring funds to another payment device, (ii) receiving funds from another payment device, and (iii) synchronizing transactions with a bank server computer, a queue manager for queuing transactions for synchronization with the bank server computer, an encoder for encrypting transaction information, a proximity communication module for wirelessly communicating with another of the plurality of payment devices over a short range, a wireless communication module for communicating with a client computer and with the bank server computer over a long range, a plurality of client computers, each client computer including a payment device manager for (i) transmitting funds to a payment device, (ii) receiving funds from a payment device, and (iii) setting payment device parameters, and a wireless communication module for communicating with at least one of the plurality of payment devices and with a bank server computer over a long range, and at least one bank server computer, each bank server computer including an account manager for (i) managing at least one bank account associated with at least one of the payment devices, and (ii) processing transactions received from the plurality of payment devices, a decoder for decrypting encrypted transaction information, and a wireless communication module for communicating with the plurality of payment devices and with the plurality of client computers over a long range. A method and a computer-readable storage medium are also described and claimed.
119 Citations
25 Claims
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1. An electronic funds system, comprising:
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a plurality of payment devices, each payment device comprising; a payment application for (i) transferring funds to another payment device, (ii) receiving funds from another payment device, and (iii) synchronizing transactions with a bank server computer; a queue manager for queuing transactions for synchronization with the bank server computer; an encoder for encrypting transaction information; a proximity communication module for wirelessly communicating with another of said plurality of payment devices over a short range; a wireless communication module for communicating with a client computer and with the bank server computer over a long range; a plurality of client computers, each computer comprising; a payment device manager for (i) transmitting funds to a payment device, (ii) receiving funds from a payment device, and (iii) setting payment device parameters; and a wireless communication module for communicating with at least one of said plurality of payment devices and with a bank server computer over a long range; and at least one bank server computer, each bank server computer comprising; an account manager for (i) managing at least one bank account associated with at least one of said payment devices, and (ii) processing transactions received from said plurality of payment devices; a decoder for decrypting encrypted transaction information; and a wireless communication module for communicating with said plurality of payment devices and with said plurality of client computers over a long range. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12)
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13. A mobile wireless communication device for transferring money between users, comprising:
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a receiver for receiving instructions to transfer money from a second user to a first user; a transmitter for sending instructions to transfer money from the first user to the second user; an instruction formatter for formatting and encrypting an instruction to transfer money, the instruction including at least a transaction identifier, a source account identifier, a destination account identifier, a date of transfer, and an amount to be transferred; and a synchronizer for queuing received instructions and for sending the queued instructions to a bank computer when communication with the bank computer is available.
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14. A method for transferring money between users, comprising:
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receiving instructions to transfer money from a second user to a first user, where an instruction includes at least a transaction identifier, a source account identifier, a destination account identifier, a date of transfer, and an amount to be transferred; queuing the received instructions; sending the queued instructions to a bank computer when communication with the bank computer is available; encrypting instructions to transfer money from the first user to the second user; and sending the encrypted instructions to the second user. - View Dependent Claims (15, 16, 17, 18, 19, 20, 21, 22, 23, 24)
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25. A computer readable storage medium storing program code for causing a computing device:
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to receive instructions to transfer money from a second user to a first user, where an instruction includes at least a transaction identifier, a source account identifier, a destination account identifier, a date of transfer, and an amount to be transferred; to queue the received instructions; to send the queued instructions to a bank computer when communication with the bank computer is available; to encrypt instructions to transfer money from the first user to the second user; and to send the encrypted instructions to the second user.
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Specification