CA2645363A1 - Infrastructure for instantaneous domestic and international mobile consumer commerce payment - Google Patents
Infrastructure for instantaneous domestic and international mobile consumer commerce payment Download PDFInfo
- Publication number
- CA2645363A1 CA2645363A1 CA 2645363 CA2645363A CA2645363A1 CA 2645363 A1 CA2645363 A1 CA 2645363A1 CA 2645363 CA2645363 CA 2645363 CA 2645363 A CA2645363 A CA 2645363A CA 2645363 A1 CA2645363 A1 CA 2645363A1
- Authority
- CA
- Canada
- Prior art keywords
- participant
- applications
- card
- infrastructure
- databases
- Prior art date
- Legal status (The legal status is an assumption and is not a legal conclusion. Google has not performed a legal analysis and makes no representation as to the accuracy of the status listed.)
- Abandoned
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Classifications
-
- G—PHYSICS
- G06—COMPUTING; CALCULATING OR COUNTING
- G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
- G06Q20/00—Payment architectures, schemes or protocols
- G06Q20/30—Payment architectures, schemes or protocols characterised by the use of specific devices or networks
- G06Q20/32—Payment architectures, schemes or protocols characterised by the use of specific devices or networks using wireless devices
- G06Q20/322—Aspects of commerce using mobile devices [M-devices]
-
- G—PHYSICS
- G06—COMPUTING; CALCULATING OR COUNTING
- G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
- G06Q20/00—Payment architectures, schemes or protocols
- G06Q20/08—Payment architectures
- G06Q20/12—Payment architectures specially adapted for electronic shopping systems
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- Business, Economics & Management (AREA)
- Engineering & Computer Science (AREA)
- Accounting & Taxation (AREA)
- Strategic Management (AREA)
- Physics & Mathematics (AREA)
- General Business, Economics & Management (AREA)
- General Physics & Mathematics (AREA)
- Theoretical Computer Science (AREA)
- Computer Networks & Wireless Communication (AREA)
- Finance (AREA)
- Financial Or Insurance-Related Operations Such As Payment And Settlement (AREA)
Abstract
A functional infrastructure for instantaneous domestic and international mobile consumer commerce payment comprises: a) a financial institution participant; b) an information technology participant; c) a mobile technology participant; d) a card manufacturer participant; said IT participant interfacing with said financial institution (a) and said mobile technology participant (c) and said card manufacturer (d) and providing transaction processing and thereby providing consumers with a payment means for use in commerce.
Description
INFRASTRUCTURE FOR INSTANTANEOUS DOMESTIC AND INTERNATIONAL
MOBILE CONSUMER COMMERCE PAYMENT
The present invention relates to the field of commerce. In particular, the present invention provides for a method for secure, instantaneous payments from any person or organization to any other person or organization anywhere in the world.
There currently exist several secure and simple methods of effecting payments from any person or organization to any other person or organization anywhere in the world. Most utilize a wire transmission and can not occur instantaneously due to the requirements for domestic or international clearance of funds and for the need to establish that both sender and recipient are not related to any criminal, terrorist or other prohibited element.
All require either the use of a bank account, use of a credit card or the physical payment of cash. All of the existing methods will take anywhere from twenty four to ninety six hours in order for the recipient to receive and be able to use the funds.
The present invention addresses the foregoing problems by providing a traditional credit card size and shape that will be used in conjunction with a push-type instant mobile messaging technology, and a secure code for transmission of funds from an account tied to the originating mobile device to, an account tied to the terminating mobile device.
Account information is not maintained either on the card or on the mobile device, but at a banking or other financial institution, where a running balance of money on the card and associated mobile device and available to be spent is kept.
To acquire and use such a payment system including a card linked to a mobile device, a consumer or organization either attends at the premises of a bank or other financial institution, or is provided with a card and an account when acquiring a mobile device or if the consumer or organization already owns a mobile device, he/she may apply for an account. The card and account are of a preset value or any value that is desired by the consumer or organization, depending on how much is paid for the card.
Financial records relating to each card purchased, including the serial number of the card and the value of same, are maintained by the issuing financial institution. The card is preferably provided with a unique, multiple digit serial number that identifies a particular account, there being one account for each card, and a personal identification number which may, if desired be an expiry date (thereby permitting financial institutions to close inactive accounts after a period of time, which would require the holder of an expired card to redeem it at a bank) but may be any identifying string of numbers. The use of two sets of numbers to identify a card prevents a person from fraudulently attempting to use a card number which they are not authorized to use. That is, while anyone can simply make up a multiple digit number, they would have no way of knowing the personal identifier that went with it.
The card is also provided with a conventional magnetic strip for storing data, and an additional multi-digit personal identification number may be included. The card's identifying serial number and personal identification number are linked to the mobile device's serial number or other unique identifying number through the information technology.
The mobile device is used to transmit a funding request to another mobile device utilizing the push technology. The request is first routed from the mobile device's server to the information technology which in turn determines the identity and mobile device address of the account holder and the intended recipient, and whether there are sufficient funds to transfer from the requestor's card account to the recipient's card account. If there are sufficient funds, the information technology transfers the funds to the recipient's account and transmits a message to the recipient's mobile device that the funds have been transferred. The appropriate security measures are applied both at the requestor's end and at the recipient's end.
Once the recipient's mobile device displays a message that the funds have been transferred, the recipient's card may be used to purchase goods and services for a value or values totaling the prefunded limit on the card.
The card and associated account may be reloaded as many times as the account holder would like, and therefore additional funds may be made available to the card holder.
Methods of reloading a card account include a mobile device to mobile device transfer as described above, a payment made to the card account issuer's financial institution via electronic funds transfer, wire transfer, cheque, credit card or other means acceptable to the financial institution.
The object of the present invention, then, is to provide an operational context and infrastructure for the use of the card and the mobile device to transfer funds from one account holder to another account holder anywhere in the world in "real time"
as described above. In a broad aspect then, the present invention relates to a functional infrastructure for a consumer commerce interface payment instrumentally comprising: a) a financial institution participant; b) an information technology participant;
c) a mobile technology participant; d) a card manufacturer participant; said IT
participant interfacing with said financial institution (a) and said mobile technology participant (c) and said card manufacturer (d) and providing transaction processing and thereby providing consumers with a payment means for use in commerce.
In such an infrastructure, the IT participant preferably comprises electronic transaction processing means, a means to accept, process and re-transmit a funds transfer from mobile device to mobile device, a customer interface department, and a financial institution interface.
Moreover, the IT participant still further comprises database architecture including databases and applications comprising of one or more e-merchant service applications, customer service applications, mobile accounts applications, accounts applications and databases, billings applications and databases, card issuing applications and databases, and security applications and databases.
In drawings that illustrate the present invention by way of example:
Figure 1 is a schematic depicting the flow of information in the technical infrastructure according to the present invention;
Figure 2 is a schematic of device connectivity, applications and databases for an operational infrastructure according to the present invention;
Figure 3 is a schematic of system architecture according to the present invention.
MOBILE CONSUMER COMMERCE PAYMENT
The present invention relates to the field of commerce. In particular, the present invention provides for a method for secure, instantaneous payments from any person or organization to any other person or organization anywhere in the world.
There currently exist several secure and simple methods of effecting payments from any person or organization to any other person or organization anywhere in the world. Most utilize a wire transmission and can not occur instantaneously due to the requirements for domestic or international clearance of funds and for the need to establish that both sender and recipient are not related to any criminal, terrorist or other prohibited element.
All require either the use of a bank account, use of a credit card or the physical payment of cash. All of the existing methods will take anywhere from twenty four to ninety six hours in order for the recipient to receive and be able to use the funds.
The present invention addresses the foregoing problems by providing a traditional credit card size and shape that will be used in conjunction with a push-type instant mobile messaging technology, and a secure code for transmission of funds from an account tied to the originating mobile device to, an account tied to the terminating mobile device.
Account information is not maintained either on the card or on the mobile device, but at a banking or other financial institution, where a running balance of money on the card and associated mobile device and available to be spent is kept.
To acquire and use such a payment system including a card linked to a mobile device, a consumer or organization either attends at the premises of a bank or other financial institution, or is provided with a card and an account when acquiring a mobile device or if the consumer or organization already owns a mobile device, he/she may apply for an account. The card and account are of a preset value or any value that is desired by the consumer or organization, depending on how much is paid for the card.
Financial records relating to each card purchased, including the serial number of the card and the value of same, are maintained by the issuing financial institution. The card is preferably provided with a unique, multiple digit serial number that identifies a particular account, there being one account for each card, and a personal identification number which may, if desired be an expiry date (thereby permitting financial institutions to close inactive accounts after a period of time, which would require the holder of an expired card to redeem it at a bank) but may be any identifying string of numbers. The use of two sets of numbers to identify a card prevents a person from fraudulently attempting to use a card number which they are not authorized to use. That is, while anyone can simply make up a multiple digit number, they would have no way of knowing the personal identifier that went with it.
The card is also provided with a conventional magnetic strip for storing data, and an additional multi-digit personal identification number may be included. The card's identifying serial number and personal identification number are linked to the mobile device's serial number or other unique identifying number through the information technology.
The mobile device is used to transmit a funding request to another mobile device utilizing the push technology. The request is first routed from the mobile device's server to the information technology which in turn determines the identity and mobile device address of the account holder and the intended recipient, and whether there are sufficient funds to transfer from the requestor's card account to the recipient's card account. If there are sufficient funds, the information technology transfers the funds to the recipient's account and transmits a message to the recipient's mobile device that the funds have been transferred. The appropriate security measures are applied both at the requestor's end and at the recipient's end.
Once the recipient's mobile device displays a message that the funds have been transferred, the recipient's card may be used to purchase goods and services for a value or values totaling the prefunded limit on the card.
The card and associated account may be reloaded as many times as the account holder would like, and therefore additional funds may be made available to the card holder.
Methods of reloading a card account include a mobile device to mobile device transfer as described above, a payment made to the card account issuer's financial institution via electronic funds transfer, wire transfer, cheque, credit card or other means acceptable to the financial institution.
The object of the present invention, then, is to provide an operational context and infrastructure for the use of the card and the mobile device to transfer funds from one account holder to another account holder anywhere in the world in "real time"
as described above. In a broad aspect then, the present invention relates to a functional infrastructure for a consumer commerce interface payment instrumentally comprising: a) a financial institution participant; b) an information technology participant;
c) a mobile technology participant; d) a card manufacturer participant; said IT
participant interfacing with said financial institution (a) and said mobile technology participant (c) and said card manufacturer (d) and providing transaction processing and thereby providing consumers with a payment means for use in commerce.
In such an infrastructure, the IT participant preferably comprises electronic transaction processing means, a means to accept, process and re-transmit a funds transfer from mobile device to mobile device, a customer interface department, and a financial institution interface.
Moreover, the IT participant still further comprises database architecture including databases and applications comprising of one or more e-merchant service applications, customer service applications, mobile accounts applications, accounts applications and databases, billings applications and databases, card issuing applications and databases, and security applications and databases.
In drawings that illustrate the present invention by way of example:
Figure 1 is a schematic depicting the flow of information in the technical infrastructure according to the present invention;
Figure 2 is a schematic of device connectivity, applications and databases for an operational infrastructure according to the present invention;
Figure 3 is a schematic of system architecture according to the present invention.
Claims (3)
1. A functional infrastructure for a consumer commerce interface payment instrumentally comprising:
a) A financial institution participant;
b) An information technology participant;
c) A mobile technology participant;
d) A card manufacturer/supplier participant;
said IT participant interfacing with said financial institution (a) and said mobile technology participant (c) and said card manufacturer (d) and providing transaction processing and thereby providing consumers with a payment means for use in commerce.
a) A financial institution participant;
b) An information technology participant;
c) A mobile technology participant;
d) A card manufacturer/supplier participant;
said IT participant interfacing with said financial institution (a) and said mobile technology participant (c) and said card manufacturer (d) and providing transaction processing and thereby providing consumers with a payment means for use in commerce.
2. An infrastructure as claimed in claim 1, wherein said IT participant comprises electronic transaction processing means, an interface to mobile devices, a customer interface department and a financial institution interface.
3. An infrastructure as claimed in claim 2, wherein said IT participant further comprises database architecture including databases and applications comprising of one or more e-merchant service applications, customer service applications, mobile accounts applications, accounts applications and databases, billings applications and databases, card issuing applications and databases, and security applications and databases.
Priority Applications (2)
| Application Number | Priority Date | Filing Date | Title |
|---|---|---|---|
| CA 2645363 CA2645363A1 (en) | 2008-11-27 | 2008-11-27 | Infrastructure for instantaneous domestic and international mobile consumer commerce payment |
| PCT/CA2009/001714 WO2010060210A1 (en) | 2008-11-27 | 2009-11-27 | Infrastructure for instantaneous domestic and international mobile consumer commerce payment |
Applications Claiming Priority (1)
| Application Number | Priority Date | Filing Date | Title |
|---|---|---|---|
| CA 2645363 CA2645363A1 (en) | 2008-11-27 | 2008-11-27 | Infrastructure for instantaneous domestic and international mobile consumer commerce payment |
Publications (1)
| Publication Number | Publication Date |
|---|---|
| CA2645363A1 true CA2645363A1 (en) | 2010-05-27 |
Family
ID=42211998
Family Applications (1)
| Application Number | Title | Priority Date | Filing Date |
|---|---|---|---|
| CA 2645363 Abandoned CA2645363A1 (en) | 2008-11-27 | 2008-11-27 | Infrastructure for instantaneous domestic and international mobile consumer commerce payment |
Country Status (2)
| Country | Link |
|---|---|
| CA (1) | CA2645363A1 (en) |
| WO (1) | WO2010060210A1 (en) |
Families Citing this family (2)
| Publication number | Priority date | Publication date | Assignee | Title |
|---|---|---|---|---|
| US20120310774A1 (en) * | 2011-05-31 | 2012-12-06 | Chassin Christophe | Electronic payment system |
| US9769642B2 (en) * | 2015-02-20 | 2017-09-19 | Tracfone Wireless, Inc. | Method and system for family plan sharing of wireless services |
Family Cites Families (5)
| Publication number | Priority date | Publication date | Assignee | Title |
|---|---|---|---|---|
| US7472827B2 (en) * | 2004-05-17 | 2009-01-06 | American Express Travel Related Services Company, Inc. | Limited use PIN system and method |
| CA2608596A1 (en) * | 2006-01-20 | 2007-07-26 | Ajay Adiseshann | Method and system for making a payment through a mobile communication device |
| MX2008012504A (en) * | 2006-03-30 | 2009-05-05 | Obopay Inc | Mobile person-to-person payment system. |
| US20080010191A1 (en) * | 2006-07-06 | 2008-01-10 | Firethorn Holdings, Llc | Methods and Systems For Providing a Payment in a Mobile Environment |
| US8688570B2 (en) * | 2007-04-27 | 2014-04-01 | American Express Travel Related Services Company, Inc. | System and method for performing person-to-person funds transfers via wireless communications |
-
2008
- 2008-11-27 CA CA 2645363 patent/CA2645363A1/en not_active Abandoned
-
2009
- 2009-11-27 WO PCT/CA2009/001714 patent/WO2010060210A1/en active Application Filing
Also Published As
| Publication number | Publication date |
|---|---|
| WO2010060210A1 (en) | 2010-06-03 |
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Legal Events
| Date | Code | Title | Description |
|---|---|---|---|
| FZDE | Dead |