WO2015004682A2 - A computer implemented system and method for facilitating cashless and cardless transactions on merchant terminals - Google Patents
A computer implemented system and method for facilitating cashless and cardless transactions on merchant terminals Download PDFInfo
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- WO2015004682A2 WO2015004682A2 PCT/IN2014/000459 IN2014000459W WO2015004682A2 WO 2015004682 A2 WO2015004682 A2 WO 2015004682A2 IN 2014000459 W IN2014000459 W IN 2014000459W WO 2015004682 A2 WO2015004682 A2 WO 2015004682A2
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- customer
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- otp
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- interface
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- 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
- G06Q20/20—Point-of-sale [POS] network systems
-
- 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
- G06Q20/38—Payment protocols; Details thereof
- G06Q20/385—Payment protocols; Details thereof using an alias or single-use codes
Definitions
- the present invention relates to a computer implemented solution for supporting cashless and cardless transactions.
- customer device' used hereinafter in the specification refers to but is not limited to a mobile phone, a desktop, a laptop, a tablet, an iPad, a PDA, a notebook, a net book, a terminal including a wired or wireless computing/communicating device.
- the term 'communication network' used hereinafter in the specification refers to but is not limited to a computer network, an Internet, an Intranet, a Wi-Fi network, Wi-Max network, online network, a Local Area Network (LAN), a Wide Area Network (WAN), a Metropolitan Area Network (MAN), a Near Field Communication (NFC), a Bluetooth network, a Bling network, a cellular network including a wired and a wireless network, and a combination thereof.
- An object of the present disclosure is to provide a system for cashless and cardless transactions.
- Another object of the present disclosure is to provide a system that facilitates , cashless and cardless transaction on existing merchant terminals such as Point of Sale (POS) terminals.
- POS Point of Sale
- Another object of the present disclosure is to provide a system that does not require user signatures for performing monetary transactions.
- Another object of the present disclosure is to provide a system assists in preventing the occurrence of fraud transactions in real-time.
- the present disclosure envisages a computer implemented system and method for performing cashless and cardless transaction on merchant terminals.
- the system provides a simple solution for performing a cashless and cardless transaction on an existing merchant Point of Sale (POS) terminal.
- the system includes a customer interface which can be installed and accessed on a customer device and a merchant POS interface installed and accessed on the merchant POS terminal.
- the customer initiates the transaction by requesting for a One Time Password (OTP) via a communication network.
- a transaction server of the system receives the request from the customer device and generates the OTP for the transaction. Further, the transaction server communicates the generated OTP to the customer device via the communication.
- the customer can communicate the OTP to the merchant POS terminal via the communication network.
- the merchant POS interface installed and executed on the merchant POS terminal receives the customer communicated OTP and proceeds for the validation of the OTP and completion of the customer initiated transaction.
- FIGURE 1 describes, a computer implemented system for performing cashless and cardless transactions on a merchant Point of Sale (POS) terminal; and
- POS Point of Sale
- FIGURE 2(a) and 2(b) describes, a flow chart corresponding to the computer implemented method for performing cashless and cardless transactions on a merchant Point of Sale (POS) terminal.
- POS Point of Sale
- the present disclosure envisages a computer implemented system and method for performing cashless and cardless transactions on merchant terminals, herein the merchant terminals are referred to merchant Point of Sale (POS) terminals.
- the system is accessible via a communication network.
- the system includes two types of interfaces namely, a merchant Point of Sale (POS) interface and a customer interface.
- POS Point of Sale
- a merchant can register with the system by accessing a web application of the system and can install the merchant POS interface on a merchant POS terminal.
- the merchant is provided with an option to install the merchant POS interface on a plurality of merchant POS terminals based on the merchant's requirement.
- the merchant is required to register each and every merchant POS terminals with the system.
- the merchant POS interface installed and executed on the existing merchant POS terminal, the merchant POS interface is either automatically or manually integrated with a POS application of the merchant.
- the existing POS application enables the merchant POS interface to access a POS repository to store and retrieve transaction related information.
- a customer can register with the platform by accessing a web application of the system and can install the customer interface on a customer device.
- the web application of the system transmits a verification message to the registered user's contact details in a format such as an email, an instant message, and a short messages service (SMS) or a text message.
- SMS short messages service
- the verification message is sent to confirm the authenticity of the registered user either as merchant or as customer.
- the transaction server transmits a second message entailing a download link of the customer interface to the registered customer device and the merchant POS interface to the merchant POS terminal.
- the transaction server issues a virtual identification card which can be loaded on the merchant POS interface for processing each transaction and pushing it to completion.
- the merchant is additionally provided with a physical identification card. This physical identification card can be used for security reasons.
- FIGURE 1 illustrates a computer implemented system 100 for performing cashless and cardless transactions on a merchant Point of Sale (POS) terminal 20.
- the system 100 includes a customer interface 110 installed and executed on a customer device 10 accessible to the customer, a merchant POS interface 120 installed and executed on the merchant POS terminal 20 accessible to the merchant and a transaction server 130.
- the customer interface 110 includes a first trans-receiver 112.
- the merchant POS interface 120 includes a second trans-receiver 122, a card-loading module 124 and a card-reading module 126.
- the transaction server 130 includes a customer repository 132, merchant repository 134, a third trans-receiver 136, a fourth trans-receiver 138, an One Time Password (OTP) generator 140, and a validation module 142.
- the customer interface 110 is configured to be identified with the corresponding customer device 10 identification indicia.
- the merchant interface 120 is configured to be identified with the corresponding merchant POS terminal 20 identification indicia.
- the customer repository 132 of the transaction server 130 stores customer related information such as customer registration information, customer identification (ID), customer privacy settings, financial account details of the customer, registered customer device identification indicia and transaction history of the customer.
- the merchant repository 134 of the transaction server 130 stores merchant related information such as merchant registration information, merchant identification (ID), financial account details of the merchant, transaction history of the merchant and registered merchant POS terminal identification indicia.
- the customer takes the first step to initiate a monetary transaction by accessing the customer interface 110 on his/her customer device 10 and transmitting a first request to the transaction server 130 for generating an OTP for the transaction through the first trans-receiver 112 via a communication network.
- the third trans-receiver 136 of the transaction server 130 communicates with the customer interface 110 via the communication network for exchange of information.
- the third trans-receiver 136 receives the first request for generating the OTP from the customer interface 110 and further communicates the first request to the OTP generator 140.
- the first request transmitted to the transaction server 130 from the customer interface 110 includes information selected from the group consisting of customer ID, customer device identification indicia, a customer financial account details, a transaction amount and a combination thereof.
- the OTP generator 140 based on the information received in the first request generates the OTP for the customer and transmits the newly generated OTP to the customer device 10 through the third trans- receiver 136 via the communication network.
- the first trans-receiver 112 of the customer interface 110 executed on the customer device 10 receives the OTP from the transaction server 130. Additionally, the OTP generator 140 stores the newly generated OTP into the customer repository 132 corresponding to the customer for future reference.
- the customer can communicate the newly received OTP from the transaction server 130 to the merchant POS terminal 20 via the communication network such as the Near Field Communication (NFC).
- the second trans-receiver 122 of the merchant POS interface 120 receives the OTP from the customer device 10.
- the merchant loads a virtual identification card. The loading of the virtual identification card is facilitated by the card-loading module 124 of the merchant POS interface 120.
- the merchant swipes a physical identification card based on the situation at the merchant premise. The reading of the physical identification card is captured by the card-reading module 126 of the merchant POS interface 120.
- the merchant transmits a second request from the merchant POS interface 120 to the transaction server 130 for the completion of the transaction.
- This action is facilitated by the second trans- receiver 122 of the merchant POS terminal 20 via the communication network.
- the forth trans-receiver 138 of the transaction server 130 communicates with the merchant POS interface 120 via the communication network for exchange of information.
- the second request transmitted to the transaction server 130 from the merchant POS interface 120 includes information selected from the group consisting of a merchant ID, the customer communicated OTP, transaction amount and financial account details of the merchant.
- the forth trans-receiver 138 of the transaction server 130 receives the second request and communicates the second request to the validation module 142.
- the validation module 142 validates the received OTP by comparing it with the OTP generated by the OTP generator for the corresponding customer stored into the customer repository 132. In addition, the validation module 142 further validates the customer financial account associated with the customer ID, customer device 10 identification indicia, merchant ID and the time limit of the OTP received from the merchant POS interface 120, subsequently based on positive validation the validation module 142 further transmits a confirmation signal to a third party payment gateway to proceed with the customer initiated transaction. The validation module 142 also transmits a transaction confirmation message to both the customer device 10 received on the customer interface 110 and the merchant POS terminal 20 received on the merchant POS interface 120.
- the transaction server 130 on successful validation of the customer initiated transaction transmits a confirmation signal to a third party payment gateway for the completion of the transaction.
- the transaction server 130 further transmits a transaction confirmation message to both the 'customer device 10 and the merchant POS terminal.
- the transaction history lists present in the customer repository 132 and the merchant repository 134 are updated from time to time.
- FIGURE 2(a) and 2(b) illustrates a flow chart corresponding to the computer implemented method for implementing a that facilitates cashless and cardless transactions on a merchant Point of Sale (POS) terminal.
- the computer implemented method includes the following steps:
- the step of validating, at said transaction server further includes the step of transmitting a confirmation signal to a third party payment gateway to proceed with the customer initiated transaction.
- POS Point of Sale
Abstract
The present disclosure envisages a computer implemented system and method for performing cashless and cardless transactions on merchant terminals. The system is accessible via a communication network and two types of interfaces namely, a merchant Point of Sale (POS) interface and a customer interface. The merchant and the customer required register with the system and install and execute the merchant POS interface on a merchant terminal such a merchant POS terminal and the customer interface on a device accessible to the customer. The customer initiates the transaction by requesting for a One Time Password (OTP) via a communication network. A transaction server of the system receives the request from the customer device and generates the OTP for the transaction. The customer transmits the OTP received from the transaction server to the merchant POS terminal via the communication network for the purpose of completing the initiated transaction.
Description
A COMPUTER IMPLEMENTED SYSTEM AND METHOD FOR FACILITATING CASHLESS AND CARDLESS TRANSACTIONS ON MERCHANT TERMINALS
This application is a patent of addition to Indian Patent Application No. 57/MUM/2013 filed on January 8th, 2013, the entire contents of which are specifically incorporated herein by reference.
FIELD
The present invention relates to a computer implemented solution for supporting cashless and cardless transactions.
DEFINITIONS OF TERMS USED IN THE SPECIFICATION
The term 'customer device' used hereinafter in the specification refers to but is not limited to a mobile phone, a desktop, a laptop, a tablet, an iPad, a PDA, a notebook, a net book, a terminal including a wired or wireless computing/communicating device.
The term 'communication network' used hereinafter in the specification refers to but is not limited to a computer network, an Internet, an Intranet, a Wi-Fi network, Wi-Max network, online network, a Local Area Network (LAN), a Wide Area Network (WAN), a Metropolitan Area Network (MAN), a Near Field Communication (NFC), a Bluetooth network, a Bling network, a cellular network including a wired and a wireless network, and a combination thereof.
These definitions are in addition to those expressed in the art.
BACKGROUND
Using cash as a mode of transactions has been a popular method practiced worldwide, since centuries. Typically, exchanging cash in return for goods and commodities has been a popular way of procuring goods and commodities. However, one of the shortcomings of exchanging cash in return for goods and commodities is that the exchanged cash needs to be safeguarded against robbery attempts.
Attempts have been made by the financial institutions to obviate the need of carrying large amount of cash. The financial institutions, therefore introduced cheques for making payments in bulk. Cheques are paper-based form of making payments). However, major shortcomings of cheques are that it takes a lot of time for clearance, or the cheque may get rejected, or the financial institution can refuse to accept a cheque with an error and the like. Further, cheques cannot be utilized for purchasing daily commodities and products.
Communication network such as Internet has evolved and have tried to provide solutions for performing monetary transactions in more convenient manner. The system in the disclosure of the system (57/MUM/2013) for cashless cardless transaction is not entirely suitable for use with a conventional POS terminal with a merchant for carrying out an actual transaction across multiple POS terminals at the merchant's premises. This invention, therefore, discloses additional features of the system and method for carrying out such transactions.
OBJECTS
Some of the objects of the system of the present disclosure, which at least one embodiment herein satisfies, are as follows:
An object of the present disclosure is to provide a system for cashless and cardless transactions.
Another object of the present disclosure is to provide a system that facilitates, cashless and cardless transaction on existing merchant terminals such as Point of Sale (POS) terminals.
Another object of the present disclosure is to provide a system that does not require user signatures for performing monetary transactions.
Another object of the present disclosure is to provide a system assists in preventing the occurrence of fraud transactions in real-time.
Other objects and advantages of the system of the present disclosure will be more apparent from the following description when read in conjunction with the accompanying figures, which are not intended to limit the scope of the present disclosure.
SUMMARY
The present disclosure envisages a computer implemented system and method for performing cashless and cardless transaction on merchant terminals. The system provides a simple solution for performing a cashless and cardless transaction on an existing merchant Point of Sale (POS) terminal. The system includes a customer interface which can be installed and accessed on a customer device and a merchant POS interface installed and accessed on the merchant POS terminal. The customer initiates the transaction by requesting for a One Time Password (OTP) via a communication network. A transaction server of the system receives the request from the customer device and generates the OTP
for the transaction. Further, the transaction server communicates the generated OTP to the customer device via the communication. The customer can communicate the OTP to the merchant POS terminal via the communication network. The merchant POS interface installed and executed on the merchant POS terminal receives the customer communicated OTP and proceeds for the validation of the OTP and completion of the customer initiated transaction.
BRIEF DESCRIPTION OF THE ACCOMPANYING DRAWINGS
The computer implemented system and method for facilitating cashless and cardless transactions on merchant terminals will now be described with reference to the accompanying drawings, in which:
FIGURE 1 describes, a computer implemented system for performing cashless and cardless transactions on a merchant Point of Sale (POS) terminal; and
FIGURE 2(a) and 2(b) describes, a flow chart corresponding to the computer implemented method for performing cashless and cardless transactions on a merchant Point of Sale (POS) terminal.
DETAILED DESCRIPTION
The computer implemented system and method for cashless and cardless transactions on merchant terminals of the present disclosure will now be described with reference to the accompanying drawings which do not limit the scope and ambit of the disclosure. The description provided is purely by way of example and illustration.
The embodiments herein and the various features and advantageous details thereof are explained with reference to the non-limiting embodiments in the following description. Descriptions of well-known components and processing techniques are omitted so as to not unnecessarily obscure the embodiments herein. The examples used herein are intended merely to facilitate an understanding of ways in which the embodiments herein may be practiced and to further enable those of skill in the art to practice the embodiments herein. Accordingly, the examples should not be construed as limiting the scope of the embodiments herein.
The description hereinafter, of the specific embodiments will so fully reveal the general nature of the embodiments herein that others can, by applying current knowledge, readily modify and/or adapt for various applications such specific embodiments without departing from the generic concept, and, therefore, such adaptations and modifications should and are intended to be comprehended within the meaning and range of equivalents of the disclosed embodiments. It is to be understood that the phraseology or terminology employed herein is for the purpose of description and not of limitation. Therefore, while the embodiments herein have been described in terms of preferred embodiments, those skilled in the art will recognize that the embodiments herein can be practiced with modification within the spirit and scope of the embodiments as described herein.
The present disclosure envisages a computer implemented system and method for performing cashless and cardless transactions on merchant terminals, herein the merchant terminals are referred to merchant Point of Sale (POS) terminals. The system is accessible via a communication network. The system includes two types of interfaces namely, a merchant Point of Sale (POS) interface and a customer interface. A merchant can register with the system by accessing a web
application of the system and can install the merchant POS interface on a merchant POS terminal. Additionally, the merchant is provided with an option to install the merchant POS interface on a plurality of merchant POS terminals based on the merchant's requirement. The merchant is required to register each and every merchant POS terminals with the system. The merchant POS interface installed and executed on the existing merchant POS terminal, the merchant POS interface is either automatically or manually integrated with a POS application of the merchant. Thereby, the existing POS application enables the merchant POS interface to access a POS repository to store and retrieve transaction related information.
A customer can register with the platform by accessing a web application of the system and can install the customer interface on a customer device. On completion of the registration process the web application of the system transmits a verification message to the registered user's contact details in a format such as an email, an instant message, and a short messages service (SMS) or a text message. The verification message is sent to confirm the authenticity of the registered user either as merchant or as customer. Once the verification process is complete, the transaction server transmits a second message entailing a download link of the customer interface to the registered customer device and the merchant POS interface to the merchant POS terminal. In addition, if the registered user is the merchant the transaction server issues a virtual identification card which can be loaded on the merchant POS interface for processing each transaction and pushing it to completion. In case, the virtual identification card is forgotten or misplaced by merchant, the merchant is additionally provided with a physical identification card. This physical identification card can be used for security reasons.
The system and method of the present disclosure will be described herein below with reference to FIGURES 1 to 2.
FIGURE 1 illustrates a computer implemented system 100 for performing cashless and cardless transactions on a merchant Point of Sale (POS) terminal 20. The system 100 includes a customer interface 110 installed and executed on a customer device 10 accessible to the customer, a merchant POS interface 120 installed and executed on the merchant POS terminal 20 accessible to the merchant and a transaction server 130. The customer interface 110 includes a first trans-receiver 112. The merchant POS interface 120 includes a second trans-receiver 122, a card-loading module 124 and a card-reading module 126. The transaction server 130 includes a customer repository 132, merchant repository 134, a third trans-receiver 136, a fourth trans-receiver 138, an One Time Password (OTP) generator 140, and a validation module 142. The customer interface 110 is configured to be identified with the corresponding customer device 10 identification indicia. The merchant interface 120 is configured to be identified with the corresponding merchant POS terminal 20 identification indicia. The customer repository 132 of the transaction server 130 stores customer related information such as customer registration information, customer identification (ID), customer privacy settings, financial account details of the customer, registered customer device identification indicia and transaction history of the customer. The merchant repository 134 of the transaction server 130 stores merchant related information such as merchant registration information, merchant identification (ID), financial account details of the merchant, transaction history of the merchant and registered merchant POS terminal identification indicia.
The customer takes the first step to initiate a monetary transaction by accessing the customer interface 110 on his/her customer device 10 and transmitting a first
request to the transaction server 130 for generating an OTP for the transaction through the first trans-receiver 112 via a communication network. The third trans-receiver 136 of the transaction server 130 communicates with the customer interface 110 via the communication network for exchange of information. The third trans-receiver 136 receives the first request for generating the OTP from the customer interface 110 and further communicates the first request to the OTP generator 140. The first request transmitted to the transaction server 130 from the customer interface 110 includes information selected from the group consisting of customer ID, customer device identification indicia, a customer financial account details, a transaction amount and a combination thereof. The OTP generator 140 based on the information received in the first request generates the OTP for the customer and transmits the newly generated OTP to the customer device 10 through the third trans- receiver 136 via the communication network. The first trans-receiver 112 of the customer interface 110 executed on the customer device 10 receives the OTP from the transaction server 130. Additionally, the OTP generator 140 stores the newly generated OTP into the customer repository 132 corresponding to the customer for future reference.
In accordance with the present disclosure, the customer can communicate the newly received OTP from the transaction server 130 to the merchant POS terminal 20 via the communication network such as the Near Field Communication (NFC). The second trans-receiver 122 of the merchant POS interface 120 receives the OTP from the customer device 10. To process the customer initiated transaction, in one embodiment the merchant loads a virtual identification card. The loading of the virtual identification card is facilitated by the card-loading module 124 of the merchant POS interface 120. To process the customer initiated transaction, in another embodiment the merchant swipes a physical identification card based on the situation at the merchant premise. The
reading of the physical identification card is captured by the card-reading module 126 of the merchant POS interface 120. Further, the proceed with the transaction initiated by the customer, the merchant transmits a second request from the merchant POS interface 120 to the transaction server 130 for the completion of the transaction. This action is facilitated by the second trans- receiver 122 of the merchant POS terminal 20 via the communication network. The forth trans-receiver 138 of the transaction server 130 communicates with the merchant POS interface 120 via the communication network for exchange of information. The second request transmitted to the transaction server 130 from the merchant POS interface 120 includes information selected from the group consisting of a merchant ID, the customer communicated OTP, transaction amount and financial account details of the merchant. The forth trans-receiver 138 of the transaction server 130 receives the second request and communicates the second request to the validation module 142. The validation module 142 validates the received OTP by comparing it with the OTP generated by the OTP generator for the corresponding customer stored into the customer repository 132. In addition, the validation module 142 further validates the customer financial account associated with the customer ID, customer device 10 identification indicia, merchant ID and the time limit of the OTP received from the merchant POS interface 120, subsequently based on positive validation the validation module 142 further transmits a confirmation signal to a third party payment gateway to proceed with the customer initiated transaction. The validation module 142 also transmits a transaction confirmation message to both the customer device 10 received on the customer interface 110 and the merchant POS terminal 20 received on the merchant POS interface 120.
In accordance with the present disclosure, the transaction server 130 on successful validation of the customer initiated transaction transmits a confirmation signal to a third party payment gateway for the completion of the
transaction. In addition, the transaction server 130 further transmits a transaction confirmation message to both the 'customer device 10 and the merchant POS terminal. Further, the transaction history lists present in the customer repository 132 and the merchant repository 134 are updated from time to time.
Referring FIGURE 2(a) and 2(b), illustrates a flow chart corresponding to the computer implemented method for implementing a that facilitates cashless and cardless transactions on a merchant Point of Sale (POS) terminal. The computer implemented method includes the following steps:
• storing, in a customer repository of a transaction server, a customer registration information, customer privacy settings, financial account details of the customer, registered customer device identification indicia and transaction history of the customer;
• storing, in a merchant repository of the transaction server, a merchant registration information, financial account details of the merchant, transaction history of the merchant and registered merchant POS terminal identification indicia;
• transmitting via a communication network, from a customer interface accessible on a customer device, a first request for generating an One Time Password (OTP) for initiating a transaction to the transaction server, wherein the customer interface configured to be identified with a corresponding customer device identification indicia;
• receiving, at the transaction server, the first request for generating the OTP from the customer device and identifying the customer device identification indicia stored in the customer repository;
• generating, at the transaction server, the OTP and transmitting the generated OTP to the customer device via the communication network;
• receiving, at the customer interface accessible on the customer device, the generated OTP and further communicating the received OTP to a merchant POS terminal via the communication network;
• receiving, at a merchant POS interface accessible on the merchant POS terminal, the OTP received from the customer device;
• transmitting via the communication network, from the merchant POS terminal to the transaction server, a second request to process the customer initiated transaction, wherein the merchant POS interface configured to proceed with the transmission of the second request either by loading a virtual identification card associated with the merchant or enabling the merchant to swipe a physical identification card; and
• validating, at the transaction server, the received OTP by comparing it with the OTP generated by the OTP generator for the corresponding customer, further transmitting a confirmation transaction confirmation to the customer device and the merchant POS terminal on positive validation.
In accordance with the present disclosure, the step of validating, at said transaction server, further includes the step of transmitting a confirmation signal to a third party payment gateway to proceed with the customer initiated transaction.
TECHNICAL ADVANCEMENTS
The technical advantages of the system and method envisaged by the present disclosure include the following:
• a system a system for cashless and cardless transactions;
• a system that facilitates cashless and cardless transaction on existing merchant terminals such as Point of Sale (POS) terminals;
• a system that does not require user signatures for performing monetary transactions;
• a system to prevent the occurrence of fraud transactions in real-time; and
• a secure user friendly system.
While considerable emphasis has been placed herein on the particular features of this invention, it will be appreciated that various modifications can be made, and that many changes can be made in the preferred embodiment without departing from the principles of the invention. These and other modifications in the nature of the invention or the preferred embodiments will be apparent to those skilled in the art from the disclosure herein, whereby it is to be distinctly understood that the foregoing descriptive matter is to be interpreted merely as illustrative of the invention and not as a limitation.
Throughout this specification the word "comprise", or variations such as "comprises" or "comprising", will be understood to imply the inclusion of a stated element, integer or step, or group of elements, integers or steps, but not the exclusion of any other element, integer or step, or group of elements, integers or steps.
The foregoing description of the specific embodiments will so fully reveal the general nature of the embodiments herein that others can, by applying current knowledge, readily modify and/or adapt for various applications such specific embodiments without departing from the generic concept, and, therefore, such adaptations and modifications should and are intended to be comprehended within the meaning and range of equivalents of the disclosed embodiments. It is to be understood that the phraseology or terminology employed herein is for the
purpose of description and not of limitation. Therefore, while the embodiments herein have been described in terms of preferred embodiments, those skilled in the art will recognize that the embodiments herein can be practiced with modification within the spirit and scope of the embodiments as described herein.
Claims
1. A computer implemented system for cashless and cardless transactions, said system is accessible via a communication network comprising:
a) a customer device comprising a first processor and a first memory to store and install a customer interface, said customer interface comprising a first trans-receiver configured to transmit a first request for generating an One Time Password (OTP) for initiating a transaction and receive the OTP from a transaction server, wherein said customer interface configured to be identified with a corresponding customer device identification indicia;
b) a merchant Point of Sale (POS) terminal comprising a second processor and a second memory to store and install a merchant POS interface, said merchant POS interface adapted to receive the OTP from said customer device and further configured to transmit a second request to said transaction server to process the customer initiated transaction, wherein said merchant POS interface configured to proceed with the transmission of the second request either by loading a virtual identification card associated with the merchant or enabling the merchant to swipe a physical identification card, said merchant POS interface configured to be identified with a corresponding merchant device identification indicia
c) said transaction server comprising:
» a customer repository configured to store customer registration information, customer identification (ID), customer privacy settings, financial account details of the customer, registered customer device identification indicia and transaction history of the customer;
• a merchant repository configured to store merchant registration information, merchant identification (ID), financial account details of the merchant, transaction history of the merchant and registered merchant POS terminal identification indicia;
• a second trans-receiver configured to transmit and receive data related to the transaction from said customer device;
• a third trans-receiver configured to transmit and receive data related to the transaction from a merchant POS terminal;
• a OTP generator in communication with said second trans- receiver, said OTP generator configured to receive the first request for generating a OTP from said customer device, said OTP generator configured to identify the customer device identification indicia stored in said customer repository and generate a OTP for the corresponding customer, said OTP generator configured to transmit the OTP to the corresponding customer interface device; and
• a validation module in communication with said third trans- receiver and said customer repository, said validation module configured to receive the OTP and the merchant ID said validation module configured to validate the received OTP by comparing it with the OTP generated by said OTP generator for the corresponding customer.
2. The system as claimed in claim 1, wherein the first request transmitted to said transaction server from said customer interface device includes information selected from the group consisting of a customer ID, a customer device identification indicia, a customer financial account details, a transaction amount and a combination thereof.
3. The system as claimed in claim 1, wherein the OTP generated includes information selected from the group consisting of a customer ID, a customer device identification indicia, a customer financial account details, a transaction amount and a combination thereof.
4. The system as claimed in claim 1, wherein the second request includes information selected from the group consisting of a merchant ID, the customer communicated OTP, transaction amount and financial account details of the merchant.
5. The system as claimed in claim 1, wherein said validation module configured to validate a customer financial account associated with the customer ID, customer device identification indicia, merchant ID and the time limit of the OTP received from said merchant POS interface, subsequently based on positive validation said validation module further configured to transmit a confirmation signal to a third party payment gateway to proceed with the customer initiated transaction and further transmit a transaction confirmation message to said customer interface and said merchant POS interface.
6. A computer implemented method for implementing a system that facilitates cashless and cardless transactions, said method comprising the following steps:
• storing, in a customer repository of a transaction server, a customer registration information, customer privacy sett½rgef financial account details of the customer, registered customer device identification indicia and transaction history of the customer;
• storing, in a merchant repository of said transaction server, a merchant registration information, financial account details of the merchant,
transaction history of the merchant and registered merchant POS terminal identification indicia;
transmitting via a communication network, from a customer interface accessible on a customer device, a first request for generating an One Time Password (OTP) for initiating a transaction to said transaction server, wherein said customer interface configured to be identified with a corresponding customer device identification indicia;
receiving, at said transaction server, the first request for generating the OTP from said customer device and identifying the customer device identification indicia stored in said customer repository;
generating, at said transaction server, the OTP and transmitting the generated OTP to said customer device via the communication network;
receiving, at said customer interface accessible on said customer device, the generated OTP and further communicating the received OTP to a merchant POS terminal via the communication network; receiving, at a merchant POS interface accessible on said merchant POS terminal, the OTP received from said customer device;
transmitting via the communication network, from said merchant POS terminal to said transaction server, a second request to process the customer initiated transaction, wherein said merchant POS interface configured to proceed with the transmission of the second request either by loading a virtual identification card associated with the merchant or enabling the merchant to swipe a physical identification card; and
validating, at said transaction server, the received OTP by comparing it with the OTP generated by said OTP generator for the corresponding customer, further transmitting a confirmation
transaction confirmation t said customer device and said merchant POS terminal on positive validation. , The method as claimed in claim 6, wherein the step of validating, at said transaction server, further includes the step of transmitting a confirmation signal to a third party payment gateway to proceed with the customer initiated transaction.
Applications Claiming Priority (2)
Application Number | Priority Date | Filing Date | Title |
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IN2317/MUM/2013 | 2013-07-10 | ||
IN2317MU2013 IN2013MU02317A (en) | 2013-07-10 | 2013-07-10 |
Publications (2)
Publication Number | Publication Date |
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WO2015004682A2 true WO2015004682A2 (en) | 2015-01-15 |
WO2015004682A3 WO2015004682A3 (en) | 2015-03-12 |
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Family Applications (1)
Application Number | Title | Priority Date | Filing Date |
---|---|---|---|
PCT/IN2014/000459 WO2015004682A2 (en) | 2013-07-10 | 2014-07-09 | A computer implemented system and method for facilitating cashless and cardless transactions on merchant terminals |
Country Status (2)
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IN (1) | IN2013MU02317A (en) |
WO (1) | WO2015004682A2 (en) |
Cited By (2)
Publication number | Priority date | Publication date | Assignee | Title |
---|---|---|---|---|
EP3244357A1 (en) * | 2016-05-13 | 2017-11-15 | Samsung Electronics Co., Ltd. | Electronic apparatus providing electronic payment and operating method thereof |
CN108027920A (en) * | 2015-06-14 | 2018-05-11 | 滕德尔阿莫尔有限责任公司 | For electronic transaction and the safety measure of user authentication |
Family Cites Families (3)
Publication number | Priority date | Publication date | Assignee | Title |
---|---|---|---|---|
US8630907B2 (en) * | 2009-09-30 | 2014-01-14 | Ebay Inc. | Secure transactions using a point of sale device |
WO2012151660A1 (en) * | 2011-05-11 | 2012-11-15 | Mark Itwaru | Mobile image payment system |
US8751317B2 (en) * | 2011-05-12 | 2014-06-10 | Koin, Inc. | Enabling a merchant's storefront POS (point of sale) system to accept a payment transaction verified by SMS messaging with buyer's mobile phone |
-
2013
- 2013-07-10 IN IN2317MU2013 patent/IN2013MU02317A/en unknown
-
2014
- 2014-07-09 WO PCT/IN2014/000459 patent/WO2015004682A2/en active Application Filing
Cited By (2)
Publication number | Priority date | Publication date | Assignee | Title |
---|---|---|---|---|
CN108027920A (en) * | 2015-06-14 | 2018-05-11 | 滕德尔阿莫尔有限责任公司 | For electronic transaction and the safety measure of user authentication |
EP3244357A1 (en) * | 2016-05-13 | 2017-11-15 | Samsung Electronics Co., Ltd. | Electronic apparatus providing electronic payment and operating method thereof |
Also Published As
Publication number | Publication date |
---|---|
IN2013MU02317A (en) | 2015-06-19 |
WO2015004682A3 (en) | 2015-03-12 |
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