WO2015186136A1 - "an alternative process to make transaction quick, trouble-free and protected by new approach instead of cash transaction." - Google Patents

"an alternative process to make transaction quick, trouble-free and protected by new approach instead of cash transaction." Download PDF

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Publication number
WO2015186136A1
WO2015186136A1 PCT/IN2014/000594 IN2014000594W WO2015186136A1 WO 2015186136 A1 WO2015186136 A1 WO 2015186136A1 IN 2014000594 W IN2014000594 W IN 2014000594W WO 2015186136 A1 WO2015186136 A1 WO 2015186136A1
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WO
WIPO (PCT)
Prior art keywords
payment
model
account
bank
user
Prior art date
Application number
PCT/IN2014/000594
Other languages
French (fr)
Inventor
Pramodkumar Kamalakar TIWATNE
Original Assignee
Tiwatne Pramodkumar Kamalakar
Priority date (The priority date 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 date listed.)
Filing date
Publication date
Application filed by Tiwatne Pramodkumar Kamalakar filed Critical Tiwatne Pramodkumar Kamalakar
Publication of WO2015186136A1 publication Critical patent/WO2015186136A1/en

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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
    • G06Q20/38—Payment protocols; Details thereof
    • G06Q20/42—Confirmation, e.g. check or permission by the legal debtor of payment
    • 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
    • G06Q20/04—Payment circuits
    • G06Q20/06—Private payment circuits, e.g. involving electronic currency used among participants of a common payment scheme
    • 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
    • G06Q20/10—Payment architectures specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking 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
    • G06Q20/22—Payment schemes or models
    • G06Q20/223—Payment schemes or models based on the use of peer-to-peer networks
    • 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]
    • G06Q20/3221—Access to banking information through 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
    • G06Q20/30—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]
    • G06Q20/3223—Realising banking transactions through 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
    • G06Q20/30—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
    • G06Q20/327—Short range or proximity payments by means of M-devices
    • G06Q20/3278—RFID or NFC payments by means of 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
    • G06Q20/30—Payment architectures, schemes or protocols characterised by the use of specific devices or networks
    • G06Q20/36—Payment architectures, schemes or protocols characterised by the use of specific devices or networks using electronic wallets or electronic money safes
    • 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
    • G06Q20/36—Payment architectures, schemes or protocols characterised by the use of specific devices or networks using electronic wallets or electronic money safes
    • G06Q20/367—Payment architectures, schemes or protocols characterised by the use of specific devices or networks using electronic wallets or electronic money safes involving electronic purses or money safes
    • 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
    • G06Q20/36—Payment architectures, schemes or protocols characterised by the use of specific devices or networks using electronic wallets or electronic money safes
    • G06Q20/367—Payment architectures, schemes or protocols characterised by the use of specific devices or networks using electronic wallets or electronic money safes involving electronic purses or money safes
    • G06Q20/3672—Payment architectures, schemes or protocols characterised by the use of specific devices or networks using electronic wallets or electronic money safes involving electronic purses or money safes initialising or reloading thereof
    • 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
    • G06Q20/36—Payment architectures, schemes or protocols characterised by the use of specific devices or networks using electronic wallets or electronic money safes
    • G06Q20/367—Payment architectures, schemes or protocols characterised by the use of specific devices or networks using electronic wallets or electronic money safes involving electronic purses or money safes
    • G06Q20/3674—Payment architectures, schemes or protocols characterised by the use of specific devices or networks using electronic wallets or electronic money safes involving electronic purses or money safes involving authentication
    • 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
    • G06Q20/36—Payment architectures, schemes or protocols characterised by the use of specific devices or networks using electronic wallets or electronic money safes
    • G06Q20/367—Payment architectures, schemes or protocols characterised by the use of specific devices or networks using electronic wallets or electronic money safes involving electronic purses or money safes
    • G06Q20/3676—Balancing accounts
    • 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
    • G06Q20/40—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
    • G06Q20/401—Transaction verification
    • G06Q20/4014—Identity check for transactions
    • G06Q20/40145—Biometric identity checks
    • 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
    • G06Q20/40—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
    • G06Q20/405—Establishing or using transaction specific rules
    • 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
    • G06Q20/326—Payment applications installed on the mobile devices

Definitions

  • the present invention relates to an android based device models (Size as Mobile handset) will be on specially made for to do easy, safe and secured transaction instead of Net banking transfers or cash payments.
  • Size as Mobile handset
  • WO 2001/063498 A2 wherein A real-time, global system and method for controlling payments risk, liquidity risk and systemic risk arising between financial counterparties active in payments-based transactions.
  • the system comprises: a plurality of User Host Applications for use by plurality of Users; a plurality of Third Party Host Applications for use by plurality of Third Parties; and a plurality of Payment Bank Host Applications for use by a plurality of Payment Banks operating a plurality of domestic payment systems. All host applications communicate via cryptographically secure sessions via private communications networks and/or the Internet global computer network. User and Payment Bank access is secured by digital certification.
  • Each Payment Bank Host Application has a mechanism for processing payment messages, including payments instructions to be carried out in its domestic payments system on behalf of a plurality of account holders (including bank correspondents).
  • Embodiments of the invention are directed to a method, a system, a device and a computer-readable media for selecting one or more payment application at the point-of-sale and using the select one or more payment applications to conduct a transaction.
  • One embodiment is directed to a method for automatically selecting one or more payment applications to use in a transaction so that the selected payment applications give the consumer an optimized benefit or benefits.
  • the present invention is a system bound mechanism to secure online money transactions through net cheques for online banking solutions.
  • the present invention relates to the field of Information Technology. Particularly, the invention relates to online banking transactions of banking institutions.
  • the invention has devised a method to make net cheque with plurality of indicia in the defined steps and also its verification in specified steps. Net cheque is made in physical form or in electronic form or in digital form or in combination of physical form, electronic form and digital form.
  • Verification of net cheque is done by accepting sequentially a user's inputs, the inputs including information of the plurality of indicia for authentication; and authenticating the user by matching the inputted information with records containing at least some of the information of plurality of indicia, the records being stored in a plurality of discreet databases and permitting the user to continue with the online transaction.
  • Another aspect of the invention is that it provides Android based device models (Size as Mobile handset) will be on specially made for to do easy, safe and secured transaction instead of Net banking transfers or cash payments.
  • Another aspect of the invention is that it is Beneficial to Users, Banks, Government, and Taxations and Control to Black money, Corruptions, crime affiances, Thefts thereof.
  • Another aspect of the invention is that it's handy and can be used from anywhere. You can operate a lot of features from this device and that too in very easy steps.
  • Another aspect of the invention is that this is a highly secured device. Your device cannot be accessed by anyone else as it will require your thumb print as security password. This device also provides other security options
  • Another aspect of the invention is that it is easier to shop. For every shopping you do, invoice will get stored in your device. If you pay any bill proper receipt will be stored. Now no need to maintain a file back at your home. Its stored in your device you can check it anywhere anytime.
  • Another aspect of the invention is that if any amount is credited or debited in or from your account, you will receive proper and full details of the same instantly in your device, which you can cross check at any point of time. Another aspect of the invention is that with this device you are always connected to your net banking so that you can view transactions from anywhere and even save the information.
  • Another aspect of the invention is that no need to go Bank or ATM for cash withdrawal or cash deposit, no need to think twice about carrying cash before you step out of your home. With this device you can pay even minimum amount very easily. Just make sure you carry your device every time you step out and let every day be hassle free. You feel more secured to go anywhere as the whole system is based on liquid money. No need to carry cash with you. Just this device will make your way easy and comfortable.
  • Figure 1 show a schematic layout of proposed invention for transaction which comprises of various parts 1.
  • this invention comprises of Bar Code, Sensor, Self Account Name, Self Account No, Space for payee's Account Name, Space for payee's Account No., Space for payment Amount, Key Pad, Payment Key (option), Options key ( option), Cancel key.
  • Account Code and Sensor wherein when payer's Bar code and Sensor screen match with payee's screen. Then payee's Account Name and No. will be displayed automatically on Payer's front screen.
  • Self Account Name and Self Account No. wherein Payers Name, account No. added by bank's software hence nobody cannot change or edit manually.
  • the Name and Account No. can pass on to payee's device only by Bar code.
  • Space for payee's Account Name and Space for payee's Account No wherein Payers Name, account No. can added only by payer's Bar code, Sensor screen match , select payment key as payment and save payee's list.
  • Payment Key (option) wherein when direct select payment key then be open saved payee's list. Payer's can be select payee from saved list and make payment from any were.
  • this invention comprises of three modals- Model A- For Bank Payments (RTGS, NEFT and Net banking Transfer) Model B- For instant liquid fund transfer (as a Cash payment) Model C - For Door to door collocation services / agencies (for both type payment A and B) Model C / 1-For Shops, Malls and commercial places (for both type payment A and B) Model C / 2 - For Public places (for both type payment A and B)
  • RGS Bank Payments
  • NEFT Net banking Transfer
  • Model A is for Bank Payments (RTGS, NEFT and Net banking Transfer wherein -
  • the transaction will be reflects in both devices immediately by massage and payment amount will be debited immediately from payer's bank account, but if bank differs than receipt amount will be credited in his bank account after some time as per the bank timing.
  • Payer's will be able to make payment transactions from minimum Rs. 100/- till the maximum set limit of per account. Also payer can set specified account limit for specific other account and can set payment remainder in one payment or more instalments as per schedule.
  • Payer can set maximum payment limit for a day.
  • Device holder can take printout of device transactions date wise.
  • Model B is included in Model A for above Transactions and liquid cash payment Transitions.
  • Model B is for instant liquid fund transfer (as a cash payment) wherein
  • Model B based on instant payment so it mainly required blue tooth and does not necessarily required Net GPS So transactions. It can be made at any place and any time. As Model B is based on instant liquid payment transactions A person will have to prepaid his device from Bank account with maximum amount as per Bank's terms (eg Rs. 10,000/- or more) this amount can be install in device 3 times or more a day as per need Bank's policy
  • both models have common features which is additional advantage-
  • Both the models will be on Android based software will be developed with special characters to value for every numbers, every alphabet, this special characters will change and update automatically in schedule period for safety of currency.
  • Device holder can make payment from anywhere to save listed account number and noted in device statement.
  • Model A cannot make any transaction to Model B also Model B cannot be make payment to Model A hence Model B added in Model A's 2 nd screen.
  • Model B When Model B will be connected with Model A then automatically 2nd screen will be opened in Model A. and every liquid payment will be deposit in 2 nd screen of Model A. If both models will be A andB, Model A want to make cash payment (to Model B) then it will have to open 2 nd screen of model A. If made payment from 1 st screen of Model A to Model B then it will deposit the payment in Model B's bank account not in Model B device.
  • Both device models will have user's ID card with user's photograph which will be recorded by bank's computer. And it'll be valid to use anywhere just like Airport / hotels / police etc. user can pass on device to device.
  • this device is beneficial for foreigners also.
  • foreigners get various advantages without any fraud.
  • the user will deposit the device at mentioned Airport's bank counter on mentioned date when he will go back.
  • Model C will be payment receiver model include with Model A and B type transactions for Door to door collocation services / agencies this model will displayed with only user name, account No. and transactions receipt massage screen. Accept of there will no other functions type of Model A and B. One account can be attaching Model C in required quantities with one office computer.
  • Model C / 1 For Shops, Malls, commercial places Religious places wherein- Model C IX will be a Reader strip all devices and specially use in shops, molls, Commercial places.
  • This Reader strip will be fixed outside cash counter in position for ease of costumers and connected with a cash counter's computer in one or more as per required quantities.
  • This Reader strip will accept both models of A and B's payments. It will give them a printed invoice immediately after receipt of payment.
  • Model C IX Reader strip will be a very useful in Religious places.
  • This Reader strip will be fixed in or out side temples in every 10'feet in Darshan line in suitable position and connected with one computer device in one or more as per required quantities.
  • This Reader strip will accept both model of A and B's donation.
  • Computer device will send receipt automatically to donor's device after receipt of specific donation.
  • Device holder can make donation from anywhere if he will save above account No.
  • Model C / 2 for Public places wherein- Model C 12 Reader strip will be a very useful in Public places like railway / Bus satiations, cinema etc for self booking.
  • This Reader strip will be fixed with computer screen like ATM machine.
  • Model C 12 Reader strip After filling the details on computer and confirm the amount, user may connect his device with Model C 12 Reader strip and make payment to computer.
  • This Reader strip will accept both model of A and B's payments. After making the payment user will received ticket from computer.
  • One person can handle 5 to 6 units at the time.
  • Model C 12 Reader strip will be a very useful in Public office places for regular bill payments like Electrical bill / Corporation etc for self paying of regular payments.
  • This Reader strip will be fixed with computer screen like AT machine.
  • Model C 12 Reader strip If non registered device then user will want to connect his device with Model C 12 Reader strip, fill the consumer's No., details as per program on computer and confirm the amount, make payment to computer.
  • This Reader strip will accept both models of A and B's payments. After making the payment user will received printed copy of payment receipt from computer.
  • For register user device will have to connect with above account device at least once then can in charge officer will can register consumer's account no. and name..
  • Ones user's device registered then above computer can send regular bill automatically on user's device. User can pay bill amount from anywhere.
  • the working principle is comprises of following steps- Step 1- to take or give the Name and Account No. 3 ⁇ 4 T1
  • transition will be done, same amount will debit from Bank Ac. and transition successful massage will be displayed on both device screens.
  • Model B *this image will display directly after selection of Payment key for CASH payment. Above way will be done as cash transition through Model A's 2 nd screen of Model B's Cash box .or through Model B (this device maid for only cash payment) and amount will be credited immediately to opposite party's device.
  • Model A Net Banking
  • Step 2 /A - "Payment" Device holder can make payment from anywhere with other way to save listed account No. and noted in device statement.
  • One time payment (a.) One time payment (b) Scheduled payment (c) Calendar payment.
  • Scheduled Payment ⁇ User will can make planning for one payment on future selected date / fixed Amount on in fixed date of every month as type of EMI in more instalments to selected account
  • Calendar Payment ⁇ After selection of this Calendar payment option, Display screen will be show a Calendar, User can select any date from Calendar and can fill any amount On any date /date wise/ months wise. There will no limits of Numbers.
  • Calendar Payment User may be go with selection first Calendar then— * ⁇ Account and then above prosier of c. Calendar Payment.
  • Scheduled Payment b. Scheduled Payment and c. Calendar Payment user can set before remainder Alarm. Otherwise Alarm will be giving Remainder on schedule date and small icon will display top of display screen. User will may select account from scheduled page / Calendar. After selection Account Name, Account No. will display on window and amount will be displayed on window. After that user can edit amount, make payment.
  • stage 2/A user After all of above stage 2/A user will want to select -Hmage then will select Net OR Cash and complete the prosier of payment.
  • Step 3- Save the Account Name and Number
  • Both the models will be on Android based software will be developed with special characters to value for every Numbers, every alphabet, this special characters will change and update automatically in schedule period for safety of currency.
  • All the Taxation Department can be collect tax easily from every person through bank transaction and can save manpower.
  • Another aspect of the invention is that no need to go Bank or ATM for cash withdrawal or cash deposit, no need to think twice about carrying cash before you step out of your home. With this device you can pay even minimum amount very easily. Just make sure you carry your device every time you step out and let every day be hassle free. You feel more secured to go anywhere as the whole system is based on liquid money. No need to carry cash with you. Just this device will make your way easy and comfortable. Device is easy to use.
  • Tax/Service Tax and other tax payments will be easy and online due to recorded transactions. Manpower will be reduced. Other expenses will be reduced. Tax payer will be benefitted from this.
  • EPM shopping- User can be purchased, ordered any products by EPM like online shopping. Internet option is also available.
  • Repayment date will be added automatically on Model A's Calendar payment schedule remainder. User can make payment to Credit Card on or after the added date from Calendar payment schedule remainder.
  • EPM A can pay directly the amount to e- Credit Card by way of Bank/Cash Payment vice versa EPM A can get Bank/Cash Payment from e- Credit card.
  • e- Credit card also works in this device for easy transaction and convenient. It will available in ecommerce sites and as an application in tablet, ipad, mobile thereof.

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  • Business, Economics & Management (AREA)
  • Accounting & Taxation (AREA)
  • Engineering & Computer Science (AREA)
  • Finance (AREA)
  • General Physics & Mathematics (AREA)
  • General Business, Economics & Management (AREA)
  • Physics & Mathematics (AREA)
  • Strategic Management (AREA)
  • Theoretical Computer Science (AREA)
  • Computer Networks & Wireless Communication (AREA)
  • Development Economics (AREA)
  • Economics (AREA)
  • Computer Security & Cryptography (AREA)
  • Financial Or Insurance-Related Operations Such As Payment And Settlement (AREA)

Abstract

This disclosure relates to an android based device models (Size as Mobile handset) will be on specially made for to do easy, safe and secured transaction instead of Net banking transfers or cash payments.

Description

TITLE OF INVENTION "AN ALTERNATIVE PROCESS TO MAKE TRANSACTION QUICK, TROUBLE-FREE AND PROTECTED BY NEW APPROACH INSTEAD OF CASH TRANSACTION."
FIELD OF THE INVENTION
The present invention relates to an android based device models (Size as Mobile handset) will be on specially made for to do easy, safe and secured transaction instead of Net banking transfers or cash payments.
BACKGROUND OF THE INVENTION
Some existing inventions are following-
In WO 2001/063498 A2 wherein A real-time, global system and method for controlling payments risk, liquidity risk and systemic risk arising between financial counterparties active in payments-based transactions. The system comprises: a plurality of User Host Applications for use by plurality of Users; a plurality of Third Party Host Applications for use by plurality of Third Parties; and a plurality of Payment Bank Host Applications for use by a plurality of Payment Banks operating a plurality of domestic payment systems. All host applications communicate via cryptographically secure sessions via private communications networks and/or the Internet global computer network. User and Payment Bank access is secured by digital certification. Each Payment Bank Host Application has a mechanism for processing payment messages, including payments instructions to be carried out in its domestic payments system on behalf of a plurality of account holders (including bank correspondents).
In WO 2009/055704 A2 wherein Embodiments of the invention are directed to a method, a system, a device and a computer-readable media for selecting one or more payment application at the point-of-sale and using the select one or more payment applications to conduct a transaction. One embodiment is directed to a method for automatically selecting one or more payment applications to use in a transaction so that the selected payment applications give the consumer an optimized benefit or benefits.
In 3359/MUM/2010 wherein the present invention is a system bound mechanism to secure online money transactions through net cheques for online banking solutions. The present invention relates to the field of Information Technology. Particularly, the invention relates to online banking transactions of banking institutions. The invention has devised a method to make net cheque with plurality of indicia in the defined steps and also its verification in specified steps. Net cheque is made in physical form or in electronic form or in digital form or in combination of physical form, electronic form and digital form. Verification of net cheque is done by accepting sequentially a user's inputs, the inputs including information of the plurality of indicia for authentication; and authenticating the user by matching the inputted information with records containing at least some of the information of plurality of indicia, the records being stored in a plurality of discreet databases and permitting the user to continue with the online transaction.
SUMMARY OF THE INVENTION
Another aspect of the invention is that it provides Android based device models (Size as Mobile handset) will be on specially made for to do easy, safe and secured transaction instead of Net banking transfers or cash payments.
Another aspect of the invention is that it is Beneficial to Users, Banks, Government, and Taxations and Control to Black money, Corruptions, crime affiances, Thefts thereof.
Another aspect of the invention is that it's handy and can be used from anywhere. You can operate a lot of features from this device and that too in very easy steps.
Another aspect of the invention is that this is a highly secured device. Your device cannot be accessed by anyone else as it will require your thumb print as security password. This device also provides other security options
Another aspect of the invention is that it is easier to shop. For every shopping you do, invoice will get stored in your device. If you pay any bill proper receipt will be stored. Now no need to maintain a file back at your home. Its stored in your device you can check it anywhere anytime.
Another aspect of the invention is that if any amount is credited or debited in or from your account, you will receive proper and full details of the same instantly in your device, which you can cross check at any point of time. Another aspect of the invention is that with this device you are always connected to your net banking so that you can view transactions from anywhere and even save the information.
Another aspect of the invention is that no need to go Bank or ATM for cash withdrawal or cash deposit, no need to think twice about carrying cash before you step out of your home. With this device you can pay even minimum amount very easily. Just make sure you carry your device every time you step out and let every day be hassle free. You feel more secured to go anywhere as the whole system is based on liquid money. No need to carry cash with you. Just this device will make your way easy and comfortable.
These and other features, aspects and advantages of the present invention will become better understood with reference to the following drawings, description and claims.
BRIEF DESCRIPTION OF THE ACCOMPANYING FLOW DIAGRAM
The preferred highlight of the present invention will now be described in greater detail herein below, with particular reference to the accompanying diagram.
Figure 1 show a schematic layout of proposed invention for transaction which comprises of various parts 1. Account Code, 2. Sensor 3. Self Account Name 4. Self Account No 5. Space for payee's Account Name 6. Space for payee's Account No. 7. Space for payment Amount 8. Key Pad 9. Payment Key (option) 10. Options key(option) 11. Cancel ( key) 12. Submit key According to an exemplary embodiment of a method / Process of the present invention.
The flow diagram shows only those details essential to an understanding of the present invention.
DETAILED DESCRIPTION OF THE INVENTION
The invention will now be described in detail in connection with certain preferred and optional embodiments so that various aspects may be more clearly understood and appreciated.
According to the proffered embodiment this invention comprises of Bar Code, Sensor, Self Account Name, Self Account No, Space for payee's Account Name, Space for payee's Account No., Space for payment Amount, Key Pad, Payment Key (option), Options key ( option), Cancel key.
According to the proffered embodiment Account Code and Sensor wherein when payer's Bar code and Sensor screen match with payee's screen. Then payee's Account Name and No. will be displayed automatically on Payer's front screen.
According to the proffered embodiment Self Account Name and Self Account No. wherein Payers Name, account No. added by bank's software hence nobody cannot change or edit manually. The Name and Account No. can pass on to payee's device only by Bar code.
According to the proffered embodiment Space for payee's Account Name and Space for payee's Account No wherein Payers Name, account No. can added only by payer's Bar code, Sensor screen match , select payment key as payment and save payee's list.
According to the proffered embodiment Space for payment Amount wherein example ? 5,551.00.
According to the proffered embodiment Key Pad wherein it will displayed Key pad only after receipt of payee's name and account no. By Sensor or from saved payee's list .
According to the proffered embodiment Payment Key (option) wherein when direct select payment key then be open saved payee's list. Payer's can be select payee from saved list and make payment from any were.
According to the proffered embodiment this invention comprises of three modals- Model A- For Bank Payments (RTGS, NEFT and Net banking Transfer) Model B- For instant liquid fund transfer (as a Cash payment) Model C - For Door to door collocation services / agencies (for both type payment A and B) Model C / 1-For Shops, Malls and commercial places (for both type payment A and B) Model C / 2 - For Public places (for both type payment A and B)
According to the proffered embodiment Model A is for Bank Payments (RTGS, NEFT and Net banking Transfer wherein -
It is based on Net banking transactions it requires net / wi - fi GPS 3G Seam card. Its transactions will only be carried according to Net bank timings.
As this model A is based on Net Banking so every transactions (RTGS / NEFT Net banking transfer) will be debited and will be credited from bank account will be recorded in Bank account statement.
The transaction will be reflects in both devices immediately by massage and payment amount will be debited immediately from payer's bank account, but if bank differs than receipt amount will be credited in his bank account after some time as per the bank timing.
Payer's will be able to make payment transactions from minimum Rs. 100/- till the maximum set limit of per account. Also payer can set specified account limit for specific other account and can set payment remainder in one payment or more instalments as per schedule.
Payer can set maximum payment limit for a day.
Device holder can take printout of device transactions date wise.
Model B is included in Model A for above Transactions and liquid cash payment Transitions.
According to the proffered embodiment Model B is for instant liquid fund transfer (as a cash payment) wherein
As Model B based on instant payment so it mainly required blue tooth and does not necessarily required Net GPS So transactions. It can be made at any place and any time. As Model B is based on instant liquid payment transactions A person will have to prepaid his device from Bank account with maximum amount as per Bank's terms (eg Rs. 10,000/- or more) this amount can be install in device 3 times or more a day as per need Bank's policy
After loading his device with prepaid amount a person will be able to make any transaction on any time, any place and for any miscellaneous purpose through Model B Devise from Rs.l/- till the maximum balance in devise. Hence will not have any bank record procedure except Device record.
If there is any receipt of cash in your Device above and more than your maximum limit than exceeding amount will be push from your device to your bank account through internet This receipt will only be accepted but not deposited in device for transaction. (If device limit is Rs. 10,000/- balance is 5,000/- and if you have receipt of 6,000/- then your device will accept Rs 5000 and rest of the 1000 will be push in bank account as 10,000/- is your device maximum limit.)
Device holder cannot take details of device transactions from Bank. But record will automatically pass on to bank when device will connect with bank.
According to the proffered embodiment wherein both models have common features which is additional advantage- Both the models will be on Android based software will be developed with special characters to value for every numbers, every alphabet, this special characters will change and update automatically in schedule period for safety of currency.
Device holder cannot add or edit any name or account no. manually hence a person will have to connect to other person's device at least once to save his account no. and name.
Device holder can make payment from anywhere to save listed account number and noted in device statement.
Model A cannot make any transaction to Model B also Model B cannot be make payment to Model A hence Model B added in Model A's 2nd screen.
When Model B will be connected with Model A then automatically 2nd screen will be opened in Model A. and every liquid payment will be deposit in 2nd screen of Model A. If both models will be A andB, Model A want to make cash payment (to Model B) then it will have to open 2nd screen of model A. If made payment from 1st screen of Model A to Model B then it will deposit the payment in Model B's bank account not in Model B device.
Both device models will have user's ID card with user's photograph which will be recorded by bank's computer. And it'll be valid to use anywhere just like Airport / hotels / police etc. user can pass on device to device.
User can use both device and make transactions from foreign country when device will be connected with there's wi-fi.
According to the proffered embodiment this device is beneficial for foreigners also. By this device foreigners get various advantages without any fraud.
Foreigners' ean use device Model A and make transactions in India in Indian currency.
After allotting visa to him he can select bank on line and then he will transfer there's currency by theme's bank account with required documents.
Account once created in Indian bank on temporary basis, it will transfer curry in his device by deducting commission, it will keep ready on mentioned Airport's bank counter on mentioned date and when person will come then will take his thumb print, will complete the procedure in 30 minutes.
The user will deposit the device at mentioned Airport's bank counter on mentioned date when he will go back.
Through this way the bank will get more profit from charged commission. This will also protect country from terrorist or from frauds.
According to the proffered embodiment Model C for Door to door collocation services / agencies wherein
Model C will be payment receiver model include with Model A and B type transactions for Door to door collocation services / agencies this model will displayed with only user name, account No. and transactions receipt massage screen. Accept of there will no other functions type of Model A and B. One account can be attaching Model C in required quantities with one office computer.
When receipt of payment by Clint then will show receipt amount message on screen.
When connect with office computer then all collocations will transfer to computer's device with statement.
Direct deposited payment to office computer's device from client's door through Model C and send receipt directly to Clint's device is under development of software.
According to the proffered embodiment Model C / 1 For Shops, Malls, commercial places Religious places wherein- Model C IX will be a Reader strip all devices and specially use in shops, molls, Commercial places.
This Reader strip will be fixed outside cash counter in position for ease of costumers and connected with a cash counter's computer in one or more as per required quantities.
This Reader strip will accept both models of A and B's payments. It will give them a printed invoice immediately after receipt of payment.
Above Model C IX Reader strip will be a very useful in Religious places.
This Reader strip will be fixed in or out side temples in every 10'feet in Darshan line in suitable position and connected with one computer device in one or more as per required quantities.
This Reader strip will accept both model of A and B's donation. Computer device will send receipt automatically to donor's device after receipt of specific donation.
Device holder can make donation from anywhere if he will save above account No.
In this way religious places will save man power, expanses of counting of money, handling the money. Religious places can be use this enrage and expenses in other social activities.
According to the proffered embodiment Model C / 2 for Public places wherein- Model C 12 Reader strip will be a very useful in Public places like railway / Bus satiations, cinema etc for self booking. This Reader strip will be fixed with computer screen like ATM machine.
After filling the details on computer and confirm the amount, user may connect his device with Model C 12 Reader strip and make payment to computer. This Reader strip will accept both model of A and B's payments. After making the payment user will received ticket from computer.
One person can handle 5 to 6 units at the time.
In this way religious places will save expanses man power of booking window.
As above Model C 12 Reader strip will be a very useful in Public office places for regular bill payments like Electrical bill / Corporation etc for self paying of regular payments.
This Reader strip will be fixed with computer screen like AT machine.
If connect user's registered device to As above Model C 12 Reader strip then user's details will display on computer screen
If non registered device then user will want to connect his device with Model C 12 Reader strip, fill the consumer's No., details as per program on computer and confirm the amount, make payment to computer. This Reader strip will accept both models of A and B's payments. After making the payment user will received printed copy of payment receipt from computer.
For register user device will have to connect with above account device at least once then can in charge officer will can register consumer's account no. and name..
Ones user's device registered then above computer can send regular bill automatically on user's device. User can pay bill amount from anywhere.
If one user have more registered accounts then above computer will show all registered accounts for selection. The working principle is comprises of following steps- Step 1- to take or give the Name and Account No. ¾ T1
It will be required to connect both device as per above shown image to make first transition or to take or give account Name and Number.
After connecting both devices; connect image will show in both device's screen like this.
Both or single person will press the connect then his screen will show with opposite party's Account Name and No. like this xxxxxx and it will be ready for next action.
Step 2- Payment
As per above Name and account No. will be shown of Option, Payment and cancel.
If the image is selected payment -►"NET" then it shows space for amount with Key pad and typed amount will show on screen like this for example ? 5,551.00.
When completed above stage and will select inaage, then Next screen will show and will quotation to user with amount confirm Payment? and will show below image of thumb impression
If user agrees and selects the image of thumb print then transition will be done, same amount will debit from Bank Ac. and transition successful massage will be displayed on both device screens.
But take some time to credit amount in opposite user's bank account if bank is different.
If user selects image of payment then select "CASH" then wi¾.open 2nd screen of Model B's Cash box.
If user has Model B — *this image will display directly after selection of Payment key for CASH payment. Above way will be done as cash transition through Model A's 2nd screen of Model B's Cash box .or through Model B (this device maid for only cash payment) and amount will be credited immediately to opposite party's device.
If both are Model A (Net Banking) then open Model A's screen and after select then want to select or If Model A is making payment and opposite is Model B then will directly open Model A's next screen of Model B for cash payment
Step 2 /A - "Payment" Device holder can make payment from anywhere with other way to save listed account No. and noted in device statement.
1. Select the Payment option then will come saved account list on screen and select the account
2. Select the option then select Saved list and select the account.
3. Select the option then select view statement then select Period of Translation and select the account.
After any of above one on screen will show 3 questions to user (a.) One time payment (b) Scheduled payment (c) Calendar payment. a. Onetime Payment—► User will can make payment to selected account only one time after of the selection. b. Scheduled Payment —► User will can make planning for one payment on future selected date / fixed Amount on in fixed date of every month as type of EMI in more instalments to selected account c. Calendar Payment —► After selection of this Calendar payment option, Display screen will be show a Calendar, User can select any date from Calendar and can fill any amount On any date /date wise/ months wise. There will no limits of Numbers.
User may be go with selection first Calendar then— *· Account and then above prosier of c. Calendar Payment.
After Selection above b. Scheduled Payment and c. Calendar Payment user can set before remainder Alarm. Otherwise Alarm will be giving Remainder on schedule date and small icon will display top of display screen. User will may select account from scheduled page / Calendar. After selection Account Name, Account No. will display on window and amount will be displayed on window. After that user can edit amount, make payment.
After all of above stage 2/A user will want to select -Hmage then will select Net OR Cash and complete the prosier of payment.
Step 3- Save the Account Name and Number
It's a very easy and simple to Save Account No. and Account No. because of when connected two devices each other then they have already given / passed on theme's Account No. and Account No to opposite user after that.
Select Option Then—► Select Save to Regular list Save.
If user has made transition (Payment / Receipt) then select the account from Statement Then Select Save to Regular list and then save.
There is no need to write manually account Name and No. because user have already taken same at time of connection, because software will be developed with special characters to value for every Numbers. Device holder cannot add or edit any name or account no. manually hence a person will have to connect to other person's device at least once to save his account no. and name.
According to the proffered embodiment it provides major advantage which is safety wherein-
In order to make the Software work (1) product code no. (2) RBI test code no, (3) Bank's code no. (4) Inbuilt Seam card No. and Account No. of one device must match with the other therefore it is totally secure for transactions also device won't work without Thumb impression and password (additional)
Both the models will be on Android based software will be developed with special characters to value for every Numbers, every alphabet, this special characters will change and update automatically in schedule period for safety of currency.
Any attempt to attach the fake equipment will fail and there will be instant Red alert on the device of opposite person. The invented product provides various advantages to several departments such as Government, Taxation Departments, Banks and Users thereof.
To Government:
Government will be saved from the expenses of making currency, also will not any damage from fake currency.
Transportation expenses and security will be saved from product of currency to will rich Bank and ATM.
All the Black money will come out because of closed of currency. Hence government will be strong financially and Indian currency will be strong with of other currency,
For Taxation Departments
All the Taxation Department can be collect tax easily from every person through bank transaction and can save manpower.
To Banks
Cash counters would no longer be needed so the manpower and security required for it will be reduced.
ATM will no longer be required as well so the expenses regarding it are going to be saved. For Users:
Transactions using device would reduce the dependence on Banks and ATMs for cash withdrawal and cash deposit.
Theft of money will be avoided since it's not hard cash.
Another aspect of the invention is that no need to go Bank or ATM for cash withdrawal or cash deposit, no need to think twice about carrying cash before you step out of your home. With this device you can pay even minimum amount very easily. Just make sure you carry your device every time you step out and let every day be hassle free. You feel more secured to go anywhere as the whole system is based on liquid money. No need to carry cash with you. Just this device will make your way easy and comfortable. Device is easy to use.
Mobiles or cell phones becoming fancier, more popular and more expensive, many thieves are more interested in accessing wireless service and potentially, stealing identity however invented device can prevent this possibility. It provides modern anti theft facility for phone. It enables to remotely contact mobile and stay in control.
For police
It's helpful for the solve various criminal cases such as kidnapping, snatching, fraud case thereof. Police department can be easily detect and record of the location where criminal activities going on by Tracker.
For commercial purpose
Invented device have some space for advertising commercial purpose. The major benefits of the proposed invention is following-
If RBI close down currency of 1000 Rs,500 Rs, 100 Rs and remaining ones after some period
Government will be saved from the expenses of making currency, also will be saved from false currency
Transportation expenses and expenses required for providing security to the hard cash will be saved due to the device
Since there is no Hard Cash, Cash counters will no longer be needed which will save the space and manpower in Banks
Because of totally cashless transactions ATMs would no longer be needed, hence will save the expenses of ATM maintenance / Ac, electrical expenses / Rent and security.
All the Black money will come out because of closure of currency. Hence government will be strong financially and Indian currency will be as strong as with of currencies of other countries
Transformation of currency would bring money from every pocket to bank. Even the money not in use and money from beggars pocket would also be deposited in banks. So even if per person 1000 Rs get deposited in bank it would result in massive boost to economy so our bankrupt nation would free itself from bankruptcy and become rich.
Since the transactions by cash will be no more and all the transactions are recorded 1. Black Money 2.Black Market 3. Corruption would cease to exist. No one would dare to accept the illegal money because it will be caught and that will ease the pressure on Police department which can remain focused on other security purposes
Due to transparency in system anti corruption movement will be no more.
Only Account holders/authorized personnel would have access to the device and country will get rid of all illegal money users.
Income Tax/Service Tax and other tax payments will be easy and online due to recorded transactions. Manpower will be reduced. Other expenses will be reduced. Tax payer will be benefitted from this.
Due to reduced manpower voluntarily retiring personnel would be paid sufficient amount and will be transferred to other developmental offices for the progress of the country.
Government can encourage Industrial and agricultural development due to strengthening of Country's economy.
Considering current disastrous position of economy and Considering promises made by new government, Implementation of this device is must, if government wants the progress of the nation and economic stability and strengthening of currency, growth in industry and agricultural sector and rid the country from corruption.
As mentioned on last page, Black Money and money not in use would come into main stream. Country would be rid of bankruptcy and will be strengthened economically and would progress. Country would be strengthened in terms of security also will be saved from attempts of neighboring countries to bring fake currency in the economy and weaken it. Country would get tax from every person (even beggars! !).Due to all these profits government can avail the equipment with at least 50% subsidy
Bank will get as many accounts equal to number of instruments distributed and due to that it would get the money on which it won't have to pay interests. Due to that loans will be distributed easily and with less interest. Bank will benefit from interest. Also the money saved from ATMs and Cash counters can be used to open new branches and 24*7 services for RTGS/NEFT will be possible. Due to all these advantages bank can easily bear the load of 50% cost of device
Commercial please / malls / shops / hospitals / Railway/ Bus bookings / Service offices/Industrialists/ religious organizations would benefit from the device since the manpower and security expenses are reduced. Also upper class citizen can afford full cost of device.
EPM shopping- User can be purchased, ordered any products by EPM like online shopping. Internet option is also available.
Credit Card payment: This facility is available only on Model A's 3rd screen. It's not necessary to have same bank user and Credit Card, user can add one or more Credit Cards in Model A's 3rd screen
It will have to connect the user's Model a device to the Card bank's computer at the time of issuing the Credit Card app.
It's required thumb impression to open Model A's 3rd screen open for Credit Card and then select one of many Credit Cards with given thumb imprecations again.
Then will connect with Shop's Model C 12 Reader strip for taking shop's account. Then enter required amount and given the Card bank's Transaction Password for the payment.
It's will not required paper print copy to acknowledge after Payment is done because users details has already been sent to Shop's device at the time of made of payment.
Repayment date will be added automatically on Model A's Calendar payment schedule remainder. User can make payment to Credit Card on or after the added date from Calendar payment schedule remainder.
User can make direct Bank /cash payment to Credit Card from other way or Saved list of account or user can take direct Bank /cash payment from Credit Card (Model A's 3rd screen) Hence you don't need to save different cards of different banks.
As EPM A can pay directly the amount to e- Credit Card by way of Bank/Cash Payment vice versa EPM A can get Bank/Cash Payment from e- Credit card. e- Credit card also works in this device for easy transaction and convenient. It will available in ecommerce sites and as an application in tablet, ipad, mobile thereof.

Claims

1) An alternative process to make transaction comprising of Account Code, Sensor, Self Account Name, Self Account No, Space for payee's Account Name, Space for payee's Account No., Space for payment Amount, Key Pad, Payment Key (option), Options key ( option), Cancel key, Submit key thereof.
2) An alternative process to make transaction claims 1, wherein of three models such as - Model A- For Bank payments (RTGS , NEFT and Net banking transfer)
Model B- For instant liquid fund transfer ( as Cash payments) Model C - For Door to door collocation services / agencies Model C / 1 -For Shops, Malls and commercial places Model C / 2 - For Public places
3) An alternative process to make transaction claims 2, wherein Model A is Bank payments (for RTGS, NEFT and Net banking transfer ) a) It is based on Net banking transactions it requires net / wi - fi GPS 3G Seam card.
Its transactions will only be carried according to Net bank timings.
As this model is based on Net Banking so every transactions ( RTGS / NEFT Net banking transfer) will be debited and will be credited from bank account will be recorded in Bank account statement. d) The transaction will be reflects in both devices immediately and payment amount will be debited immediately from payer's bank account, but if bank differs than receipt amount will be credited in his bank account after some time. e) Payer's will be able to make payment transactions from minimum Rs. 100/- till the maximum set limit of per account. Also payer can set specified account limit for specific other account and can set payment remainder in one payment or more instalments as per schedule. f) Payer can set maximum payment limit for a day. g) Device holder can take printout of device transactions date wise. h) Model B is included in Model A for above Transactions and cash payment Transitions.
4) An alternative process to make transaction claims 2, wherein Model B is for instant liquid fund transfer ( as Cash payments) wherein a) As Model B based on instant liquid payment ( as Cash payments) so it mainly required blue tooth and does not necessarily required Net GPS So transactions. Can be made at any place and any time. b) As Model B is based on instant liquid payment transactions ( as Cash payments) A person will have to prepaid his device from Bank account with maximum amount as per Bank's terms (eg Rs. 10,000/- or more) this amount can be install in device 3 times or more than 3 a day as per need or as per bank's policy. c) After loading his device with prepaid amount a person will be able to make any transaction on any time, any place and for any miscellaneous purpose through Model B Devise from Rs.l/- till the maximum balance in devise. Hence will not have any bank record procedure except Device record. d) If there is any receipt of cash in your Device above and more than your maximum limit than exceeding amount will be push from your device to your bank account through internet. This receipt will only be accepted but not deposited in device for transition. ( if device limit is Rs. 10,000/- and balance is 5,000/- and if you have receipt of 6,000/- then your device will accept Rs 5000 and rest of the 1000 will be push in bank account as 10,000/- is your device maximum limit.) e) Device holder cannot take device transactions from bank. But record will automatically pass on to bank when device will connect with bank.
5) An alternative process to make transaction claims 2, wherein Model C for Door to door collocation services / agencies wherein a) Model C will be payment receiver model include with Model A and B type transactions for Door to door collocation services / agencies this model will displayed with only user name, account No. and transactions receipt massage screen. Accept of there will no other functions type of Model A and B. b) One account can be attaching Model C in required quantities with one office computer. c) When receipt of payment by Clint then will show receipt amount message on screen. d) When connect with office computer then all collocations will transfer to computer's device with statement. e) Direct deposited payment to office computer's device from client's door through Model C and send receipt directly to Clint's device is under development of software.
6) 'An alternative process to make transaction claims 2, wherein Model C / 1 For Shops,
Malls, commercial places wherein- a) Model C /I will be a Reader strip all devices and specially use in shops, molls, Commercial places. b) This Reader strip will be fixed outside cash counter in position for ease of costumers and connected with a cash counter's computer in one or more as per required quantities. c) This Reader strip will accept both model of A and B's payments. It will give them a printed invoice immediately after receipt of payment. d) Above Model C l\ Reader strip will be a very useful in religious places. e) This Reader strip will be fixed in or out side temples in every I0*feet in Darshan line in suitable position and connected with one computer device in one or more as per required quantities. f) This Reader strip will accept both model of A and B's donation. Computer device will send receipt automatically to donor's device after receipt of specific donation. g) Device holder can make donation from anywhere if he will save above account No. h) In this way religious places will save man power, expanses of counting of money, handling the money. Religious places can be use this enrage and expenses in other, social activities.
7) An alternative process to make transaction claims 2, wherein Model C / 2 for Public places wherein- a) Model C 12 Reader strip will be a very useful in Public places like railway / Bus satiations, cinema etc for self booking. b) This Reader strip will be fixed with computer screen like ATM machine. c) After filling the details on computer and confirm the amount, user may connect his device with Model C 12 Reader strip and make payment to computer. This Reader strip will accept both model of A and B's payments. After making the payment user will received ticket from computer. d) One person can handle 5 to 6 units at the time. e) In this way religious places will save expanses man power of booking window. f) As above Model C 12 Reader strip will be a very useful in Public office places for regular bill payments like Electrical bill / Corporation etc for self paying of regular payments. g) This Reader strip will be fixed with computer screen like ATM machine. h) If connect user's registered device to As above Model C 12 Reader strip then user's details will display on computer screen i) If non registered device then user Will want to connect his device with Model C 12 Reader strip, fill the consumer's No., details as per program on computer and confirm the amount, make payment to computer. This Reader strip will accept both models of A and B's payments. After making the payment user will received printed copy of payment receipt from computer. j) For register user device will have to connect with above account device at least once then can in charge officer will can register consumer's account no. and name.. k) Ones user's device registered then above computer can send regular bill automatically on user's device, user can pay bill amount from anywhere.
1) If one user have more registered accounts then above computer will show all registered accounts for selection.
8) An alternative process to make transaction claims 1, wherein both models have common features which is additional advantage- a) Both the models will be on Android based and software will be developed with special characters to value for every Numbers and every alphabet and this special character will change and update automatically in schedule period for safety of currency. b) Device holder cannot add or edit any name or account No. manually hence a person will have to connect to other person's device at least once to save his account no. and name. c) Device holder can make payment from anywhere to save listed account No. and noted in device statement. d) Model A cannot make any transaction to Model B also Model B cannot be make payment to Model A hence Model B added in Model A's 2nd screen. e) When Model B will be connected with Model A then automatically 2nd screen will be opened in Model A. and every liquid payment will be deposit in 2nd screen of Model A. f) If both models will be A and Model A want to make liquid cash payment (to Model B) then it will have to open 2nd screen of model A . If made payment from 1st screen of Model A to Model B then it will deposit the payment in Model B's bank account not in Model B device. g) Both device models will have user's ID card with user's photograph which will be recorded by bank's computer. And it'll be valid to use anywhere just like Airport / hotels / police etc. user can pass on device to device. h) User can use both device and make transactions from foreign country when device will be connected with there's wi-fi.
9) An alternative process to make transaction claims 1, wherein it is beneficial for foreigners also. By this device foreigners get various advantages without any fraud. a) Foreigners' can use device Model A and make transactions in India in Indian currency. b) After allotting VISA to him he can select bank on line and then he will transfer there's currency by theme's bank account with required documents. c) Account once created in Indian bank on temporary basis, it will transfer curry in his device by deducting commission, it will keep ready on mentioned Airport's bank counter on mentioned date and when person will come then will take his thumb print, will complete the procedure in 30 minutes. d) The user will deposit the device at mentioned Airport's bank counter on mentioned date when he will go back. e) Through this way the bank will get more profit from charged commission. f) This will also protect country from terrorist or from frauds.
10) An alternative process to make transaction claims 1, wherein the working principle is comprises of following steps- Step 1- to take or give the Name and account No. a) It will be required to connect both device as per above shown image to make first transition or to take or give account Name and Number. b) After connecting both devices; connect image will show in both device's screen like this. c) Both or single person will press the connect then his screen will show following image 5 and 6 with opposite party's Account Name and No. like this xxxxxx and it will be ready for next action.
Step 2- Payment
As per above Name and account ->No. will be shown of Option, Payment and cancel. If the image is selected payment NET then it shows space for amount with Key pad and typed amount will show on screen like this for example ? 5,551.00.
When completed above stage and will select - image, then Next screen will show and will quotation to user with amount confirm Payment? and will show below image of thumb impression
If user agrees and selects the image of thumb print then transition will be done and same amount will debit from Bank Ac. and transition successful massage will be displayed on both device screens.
But take some time to credit amount in opposite user's bank account if bank is different.
If user selects image of payment then select cash then will open next screen of Model B's Cash box.
If user has Model B this image will display directly after selection of image.
Above way of 6 and 7 will be done as cash transition through Model A's 2nd screen of Model B's Cash box .or through Model B (this device maid for only cash payment) and amount will be credited immediately to opposite party's device. If both are Model A (Net Banking) then open Model A 's screen and after select Payment key then Want to select NET or CASH, If Model A is makin payment and opposite is Model B then will directly open Model A's next screen of Model B for cash payment.
Step 2 /A - "Payment" Device holder can make payment from anywhere with other way to save listed account No. and noted in device statement.
Select the Payment option, then will come saved account list on screen and select the account
Select the option then select Saved list and select the account.
Select the option then select view statement then select Period of Translation and select The account m) After any of above one on screen will show 3 questions to user (a.) Onetime payment ( b.) Scheduled payment (c.) Calendar payment.
Onetime Payment-User will can make payment to selected account only one time after of the selection.
Scheduled-Payment- User will can make planning for one payment on future selected date / fixed Amount on in fixed date of every month as type of EMI in more instalments to selected account
Figure imgf000026_0001
Calendar Payment- After selection of this unscheduled payment option, Display screen will be show a Calendar, User can select any date from Calendar and Can fill any amount on any date /date wise/ months wise. There will no limits of Numbers.
) User may be go with selection first Calendar then — ^Account and then above prosier of c. U Calendar Payment.
) After Selection above b. Scheduled Payment and c. Calendar Payment user can set before remainder Alarm. Otherwise Alarm will be give Remainder on schedule date and small icon will display top of display screen till user cannot see date of schedule. p) User will may select account from scheduled page. After selection Account Name, Account No. will display on window and amount will be displayed on window. After that user can edit amount, make payment. q) After all of above stage 2/A user will want to select Image-then will select Net OR Cash and complete the prosier of payment.
Step 3- Save the Account Name and Number r) It's a very easy and simple to Save Account No. and Account No. because of when connected two devices each other then they have already given 7 passed on theme's Account No. and Account No to opposite user. After that. s) Select Option—►Then Select Save to Regular—►list Save. t) If user has made transition (Payment / Receipt) then select the account from—► Statement Then Select Save to Regular list and then save. u) There is no need to write manually account Name and No. because user have already taken same at time of connection, because software will be developed with special characters to value for every Numbers. Device holder cannot add or edit any name or account no. manually hence a person will have to connect to other person's device at least once to save his account no. and name. v) An alternative process to make transaction claims 1, wherein it provides major advantage which is safety wherein- w) In order to make the Software work (1) product code No. (2) RBI test code No. (3) Bank's code No. (4) Inbuilt Seam card No. and Account No. of one device must match with the other therefore it is totally secure for transactions also device won't work without Thumb impression and password( additional) x) Both the models will be on Android based and software will be developed with special characters to value for every Numbers and every alphabet and this special characters will change and update automatically in schedule period for safety of currency . y) Any attempt to attach the fake equipment will fail and there will be instant Red alert on the device of opposite person.
11) An alternative process to make transaction claims 1, wherein it provides various advantages to several departments such as Government, Taxation Departments, Banks and Users thereof.
To Government: a) Government will be saved from the expenses of making currency, also will not any damage from fake currency. b) Transportation expenses and security will be saved from product of currency to will rich Bank and ATM. c) All the Black money will come out because of closed of currency. Hence government will be strong financially and Indian currency will be strong with of other currency.
For Taxation Departments a) AH the Taxation Department can be collect tax easily from every person through bank transaction and can save manpower.
To Banks a) Cash counters would no longer be needed so the manpower and security required for it will be reduced. b) ATM will no longer be required as well so the expenses regarding it are going to be saved.
For Users: a) Transactions using device would reduce the dependence on Banks and ATMs for cash withdrawal. b) Theft of money will be avoided since it's not hard cash. c) Device is easy to use. 12) An alternative process to make transaction claims 1, wherein The major benefits of the proposed invention is following- a) If RBI close down currency of 1000 Rs,500 Rs, 100 Rs and remaining ones after some period b) Government will be saved from the expenses of making currency, also will be saved from false currency c) Transportation expenses and expenses required for providing security to the hard cash will be saved due to the device d) Since there is no Hard Cash, Cash counters will no longer be needed which will save the space and manpower in Banks e) Because of totally cashless transactions ATMs would no longer be needed, hence will save the expenses of ATM maintenance / Ac and electrical expenses / Rent and security. f) All the Black money will come out because of closure of currency. Hence government will be strong financially and Indian currency will be as strong as with of currencies of other countries g) Transformation of currency would bring money from every pocket to bank.
Even the money not in use and money from beggars pocket would also be deposited in banks. So even if per person 1000 Rs get deposited in bank it would result in massive boost to economy so our bankrupt nation would free itself from bankruptcy and become rich. h) Since the transactions by cash will be no more and all the transactions are recorded 1. Black Money 2.Black Market 3.Corruption would cease to exist. No one would dare to accept the illegal money because it will be caught and that will ease the pressure on Police department which can remain focused on other security purposes i) Due to transparency in system anti corruption movement will be no more. j) Only Account holders/ unauthorized personnel would have access to the device and country will get rid of all illegal money users. k) Income Tax/Service Tax and other tax payments will be easy and online due to recorded transactions. Manpower will be reduced. Other expenses will be reduced. Tax payer will be benefitted from this.
1) Due to reduced manpower voluntarily retiring personnel would be paid sufficient amount and will be transferred to other developmental offices for the progress of the country. m) Government can encourage Industrial and agricultural development due to strengthening of Country's economy. n) Considering current disastrous position of economy and considering promises made by new government, Implementation of this device is must ,if government wants the progress of the nation and economic stability and strengthening of currency, growth in industry and agricultural sector and rid the country from corruption . o) As mentioned on last page, Black Money and money not in use would come into main stream. Country would be rid of bankruptcy and will be strengthened economically and would progress. Country would be strengthened in terms of security also will be saved from attempts of neighboring countries to bring fake currency in the economy and weaken it. Country would get tax from every person (even beggars! !).Due to all these profits government can avail the equipment with at least 50% subsidy. p) Bank will get as many accounts equal to number of instruments distributed and due to that it would get the money on which it won't have to pay interests. Due to that loans will be distributed easily and with less interest. Bank will benefit from interest. Also the money saved from ATMs and Cash counters can be used to open new branches and 24*7 services for RTGS/NEFT will be possible. Due to all these advantages bank can easily bear the load of 50% cost of device. q) Commercial please / malls / shops / hospitals / Railway and Bus bookings / Service offices/Industrialists/ religious organizations would benefit from the device since the manpower and security expenses are reduced. Also upper class citizen can afford full cost of device. r) Credit Card payment: This facility is available only on Model A's 3rd screen.
It's not necessary to have same bank user and Credit Card, user can add one or more Credit Cards in Model A's 3rd screen s) It will have to connect the user's Model a device to the Card bank's computer at the time of issuing the Credit Card app. t) It's required thumb impression to open Model A's 3rd screen open for Credit Card and then select one of many Credit Cards with given thumb imprecations again. u) Then will connect with Shop's Model C 12 Reader strip for taking shop's account. Then enter required amount and given the Card bank's Transaction Password for the payment. v) It's will not required paper print copy to acknowledge after Payment is done because users details has already been sent to Shop's device at the time of made of payment. w) Repayment date will be added automatically on Model A's Calendar payment schedule remainder. User can make payment to Credit Card on or after the added date from Calendar payment schedule remainder. x) User can make direct Bank /cash payment to Credit Card from other way or Saved list of account or user can take direct Bank /cash payment from Credit Card (Model A's 3rd screen) Hence you don't need to save different cards of different banks. y) As EPM A can pay directly the amount to e- Credit Card by way of Bank/Cash Payment vice versa EPM A can get Bank/Cash Payment from e- Credit card. e- Credit card also works in this device for easy transaction and convenient. It will available in ecommerce sites and as an application in tablet, ipad, mobile thereof.
PCT/IN2014/000594 2014-06-02 2014-09-15 "an alternative process to make transaction quick, trouble-free and protected by new approach instead of cash transaction." WO2015186136A1 (en)

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Citations (6)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
WO2001063498A2 (en) 2000-02-25 2001-08-30 Tyson Quah Kathleen Method of and system for mitigating risk associated with settling of foreign exchange and other payments-based transactions
WO2009055704A2 (en) 2007-10-25 2009-04-30 Visa International Service Association Device including multiple payment applications
WO2011081952A1 (en) * 2009-12-14 2011-07-07 Cashedge, Inc. Internetworking between p2p networks
US20120136781A1 (en) * 2010-11-30 2012-05-31 Ebay, Inc. Real-time payments through financial institution
US20130024360A1 (en) * 2011-07-18 2013-01-24 Ballout Rabih S System And Associated Method And Service For Providing A Platform That Allows For The Exchange Of Cash Between Members In A Mobile Environment
US20140040128A1 (en) * 2012-07-31 2014-02-06 Kt Corporation Touch based asset transaction

Patent Citations (6)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
WO2001063498A2 (en) 2000-02-25 2001-08-30 Tyson Quah Kathleen Method of and system for mitigating risk associated with settling of foreign exchange and other payments-based transactions
WO2009055704A2 (en) 2007-10-25 2009-04-30 Visa International Service Association Device including multiple payment applications
WO2011081952A1 (en) * 2009-12-14 2011-07-07 Cashedge, Inc. Internetworking between p2p networks
US20120136781A1 (en) * 2010-11-30 2012-05-31 Ebay, Inc. Real-time payments through financial institution
US20130024360A1 (en) * 2011-07-18 2013-01-24 Ballout Rabih S System And Associated Method And Service For Providing A Platform That Allows For The Exchange Of Cash Between Members In A Mobile Environment
US20140040128A1 (en) * 2012-07-31 2014-02-06 Kt Corporation Touch based asset transaction

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