WO2017182859A1

WO2017182859A1 - A system and method for mobile payments

Info

Publication number: WO2017182859A1
Application number: PCT/IB2016/056334
Authority: WO
Inventors: Rahul Garg
Original assignee: Rahul Garg
Priority date: 2016-04-18
Filing date: 2016-10-21
Publication date: 2017-10-26

Abstract

A system and method for efficiently conducting mobile payment is disclosed. The merchant device broadcasts beacon signals which is received by the user device. The user device on receiving the signal sends relevant information to the centralized platform. The merchant device generates and sends transaction request to the centralized platform and enters amount to be transacted. The centralized platform checks if merchant device is authorized by the user device and performs transaction accordingly.

Description

A SYSTEM AND METHOD FOR MOBILE PAYMENTS

FIELD OF INVENTION The present invention relates to a system and method for processing payments particularly between mobile device and payment machine over a network.

PRIOR ART AND PROBLEM TO BE SOLVED Nowadays, there are many payment wallets available that are used for making cashless payment using mobile device. User can make payment with respect to the bill generated at a store through mobile device. However, such mobile payment requires current location of the user in order to detect the nearby merchant and inputs from user for processing the transaction. Thus, such payment process becomes a hassle for the user.

Though some hands-free payment solutions are available such as US 20130030931, that relies on geo-location of the mobile device. The drawback of this prior-art is that it requires continuously locating user's mobile device using GPS which drains out battery of mobile device.

US20020194141 also discloses one of such methods however it is not really hands-free as the user is required to pull out/use mobile to process the payment.

Therefore there exists a need for a mobile payment solution that is efficient, cost-effective, secure and has lesser restrictions with a hassle-free transaction process.

Disclosed herein is a mobile device to machine payment system and method over a network featuring hands-free and manual modes. SUMMARY OF THE INVENTION

The primary object of the present invention is to provide a system and method to process payment between a mobile device and machine over a network. Another object of the present invention is to provide hands-free payment processing between mobile device and machine using short range wireless communications.

Another object of the invention is to facilitate transaction initiated by a user using user device.

Another object of the invention is to provide hands-free payment processing between mobile device and machine in offline mode as well.

A further object of the invention is to send bill payment request to the nearest user device within a specified range of distance.

Yet another object of the invention is to facilitate automatic transaction by an authorized merchant without disclosing user's card or payment details. Other objects and advantages of the present invention will become apparent from the following description taken in connection with the accompanying drawings, wherein, by way of illustration and example, the aspects of the present invention are disclosed.

BRIEF DESCRIPTION OF THE DRAWINGS

The present invention will be better understood after reading the following detailed description of the presently preferred aspects thereof with reference to the appended drawings, in which:

Figure 1 illustrates hands-free working of present invention.

Figure 2 illustrates confirmation based working of present invention.

Figure 3 illustrates the system and method of sending transaction amount to the nearest user. Figure 4 illustrates the system and method of making payment when user is initiating transaction. DETAILED DESCRIPTION OF THE INVENTION

The following detailed description describes various features and functions of the disclosed systems and methods with reference to the accompanying figures. In the figures, similar symbols identify similar components, unless context dictates otherwise. The illustrative system and method aspects described herein are not meant to be limiting. It may be readily understood that certain aspects of the disclosed systems and methods can be arranged and combined in a wide variety of different configurations, all of which are contemplated herein.

The present invention provides system and method to process payment between mobile device and machine over a network. The present invention also facilitates hands-free, offline and manual payment processing modes over a short range wireless communications. Definitions:

Merchant: The merchant is the entity that receives the payment for providing product or service to a user. The merchant has a point of sale (POS) system for charging user for the product or service purchased or availed. User: The user herein refers to the payee who pays for the product or service that is provided by the merchant.

User device: A user device can be any device that allows user to communicate with another entity. User devices include but not limited to mobile communication devices such as cellular phones, smart phones, tablets.

Centralized platform: The centralized platform consist of a central server or multiple servers for secured exchange of information among themselves and/or with other platforms, applications or devices.

Short-range wireless communication: In this communication, signals travel from a few centimeters to several meters. Examples of short-range wireless communications are Bluetooth and Bluetooth Low Energy, Infrared, Near Field Communication, Ultraband and Zigbee.

The present invention proposes a system and method to process hassle free and hands free payments without user to pull-out his wallet or mobile device out of pocket. The invention is based on beacons which are using mid to short-range wireless communications that consume less energy, as compared to other such communication methods such as geo-fencing, preferably Bluetooth Low Energy due to its appropriate range, cost effectiveness, most convenient and easiest implementation over NFC, RFID, and other such methods. Using the present invention, user is not required to carry payment cards. Further, the card details are never exposed to the merchant ensuring data security.

One aspect of the present invention is a system that enables financial transaction between a user and a merchant against the goods or services availed. The system comprises: user device capable of receiving beacon signals, centralized platform and merchant device or an additional device at the merchant's end which is capable of transmitting-receiving beacon signals. The merchant device or an additional device at the merchant's end continuously broadcasts signals which is received by the user device. The user device on receiving the said signal sends merchant ID or merchant's beacon ID, distance of user device from merchant device, profile information such as user ID and any other such information to the centralized platform. The centralized platform sends user ID alongwith other necessary details to the merchant device. The merchant device then generates the transaction request in respect of user device (respective user ID) and sends it to the centralized platform. The centralized platform then checks if the merchant device (respective merchant ID) is authorized by the user device (respective user ID).

If the merchant device (respective merchant ID) is authorized, then centralized platform can perform financial transaction automatically for the goods or services availed by the user device with respect to user ID. In case the merchant device (respective merchant ID) is not authorized, the centralized platform sends notification to the user device and prompts to permit the merchant device (respective merchant ID) to charge the specified amount. After receiving the permission from user device, the centralized platform can processes the transaction for goods or services availed by user device with respect to user ID.

In case, a user device (respective user ID) is not selected by the merchant device while generating a transaction request and sends transaction amount to the centralized platform, the centralized platform checks for user device nearest to merchant device based on the information provided by user devices regarding distance between merchant device and user device. The amount is then shown to the user device which is closest and within a set range with the merchant device. In case no user is near the POS, transaction amount is not shown to anyone. The transaction amount is only shown to the nearest user. The user can modify the transaction amount as well. Once the amount is confirmed/modified by the user, the transaction details are sent to the centralized platform which then processes the transaction.

After processing the transaction, notification is sent to the user device reporting the success or failure of transaction. The interaction between user device and centralized platform and centralized platform and merchant device is through the internet connection.

In another case, the user device maintains and saves a list of authorized merchants selected by user. The merchant device or an additional device at the merchant's end continuously broadcasts signals which is received by the user device. The user device on receiving the said signal checks if the merchant device (respective merchant ID) is authorized, from the stored list.

If the merchant device (respective merchant ID) is authorized, the user device then sends its profile information such as user ID and any other such information to the merchant device. If the merchant device (respective merchant ID) is not authorized, the user device is prompted to send its user ID to merchant device. On receiving a response to send user ID, the user device sends its profile information such as user ID and any other such information to the merchant device. The merchant device further sends the user ID to the centralized platform. The centralized platform on receiving user ID sends user details to the merchant device. The merchant device then generates the transaction request in respect of user device (respective user ID) and sends it to the centralized platform. The centralized platform performs financial transaction for the goods or services availed by the user device with respect to user ID.

After processing the transaction, notification is sent to the user device reporting the success or failure of transaction. The interaction between user device and merchant device is by short- range wireless communication and interaction between centralized platform and merchant device is through the internet.

The signal broadcasted by the merchant is composed of a unique identifier such as merchant ID that uniquely identifies the merchant. The present invention may be performed using mid to short-range wireless communication preferably Bluetooth Low Energy due to its appropriate range, cost effectiveness, most convenient and easiest implementation over NFC, RFID, and other such methods. The centralized platform maintains a database of the merchant IDs authorized by a user (respective user ID). It also maintains a record of all users near the merchant device (such as POS system). The database is used to verify the authenticity of the transaction request when user is at a merchant' s location i.e. user device is near merchant device. A list of merchant IDs authorized by user while online is also maintained on the user device. The centralized platform and user device also adds previously unauthorized merchants (respective merchant ID) which are later authorized, in the list of authorized merchants.

As shown in Figure 1, a registered user goes to a registered and authorized merchant' s shop. The merchant inside the shop is already transmitting the beacon signals using POS system. These transmissions encode a unique beacon identifier of the merchant' s POS which is used to identify the entity to receive funds during transaction process. When user enters the shop, user' s phone picks up the beacon transmissions from merchant' s POS. After receiving the beacon signals, user' s mobile device sends merchant's beacon identifier to centralized platform. In order to identify the user, for example, the photograph and name of the user is sent to the merchant device by the centralized platform with respect to user ID. The merchant' s POS system then generates a transaction request with respect to a user and sends it to the centralized platform. The centralized platform then checks if the specific user has authorized the merchant to conduct hands-free transaction. If the user has authorized the merchant centralized platform processes the hands-free transaction. Therefore, hands-free processing of the transaction requires user to have authorized the merchant and also user to be present at merchant's store during the transaction. A registered user as shown in Figure 2. goes to a registered and un-authorized merchant' s shop. The merchant inside the shop is transmitting beacon signals using POS system. These transmissions encode a unique identifier (merchant ID) of the merchant device (such as POS system) which is used to identify the entity to receive funds during transaction process. When user enters the shop, user' s phone picks up the beacon transmissions from merchant device (such as POS system). After receiving the beacon signals, user' s mobile device sends merchant ID or merchant' s beacon ID, distance of user device from merchant device, profile information such as user ID and any other such information to the centralized platform. For user identification, for example, the photograph and name of the user is sent to the merchant device by the centralized platform with respect to user ID. The merchant' s POS system then generates a transaction request with respect to a user and sends it to the centralized platform. The centralized platform then checks if the specific user has authorized the merchant to conduct hands-free transaction. If the merchant is not authorized, centralized platform notifies the user and prompts to allow the merchant to perform transaction.

In the present system, payment information such as the card details of user are never shared with the merchant during any stage of transaction process. The system allows user to enable an option of opting for a confirmation message prior to the conduction of transaction. For example, if a merchant charges user a certain amount, the transaction is processed only after receiving user' s confirmation. The user is therefore notified and requested to confirm the transaction. The user can also specify the range of distance between user and merchant at which merchant is authorized to automatically perform transaction. The merchant will not be able to perform any transaction if user is beyond that selected range of distance. Additionally, the system provides user an option to enable timeouts for the hands-free features that is for example, the present system is activated for 24 hour timeout, then after 24 hours, the system is automatically disabled until user enables it.

Further, at the merchant' s end if a transaction request is generated without selection of any particular user ID, then merchant device (such as POS system) sends transaction amount to the centralized platform. The centralized platform checks for user standing nearest to POS system and the amount to be transacted is shown only to the nearest standing user ID, as shown in Figure 3. In case no user is near the POS, transaction amount is not shown to anyone. The transaction amount is only shown to the nearest user. The user can modify the transaction amount as well. The centralized platform compares the data in regard to the distance between user device and merchant device and selects the nearest user device to which the amount is to be shown. For example, if a restriction of 1 meter is set, then even if there is only one user near the POS system but is standing 2 meters away from the POS system, the amount is not shown to that user. In another example, if there are two users, one standing at 0.2 meters from the POS and other standing at 0.4 meters from the POS, the amount is shown only to the user who standing at 0.2 meters from the POS. Once the amount is confirmed/modified by the user, the transaction details are sent to the centralized platform which then processes the transaction.

Another aspect of the present invention is a system that enables user to initiate financial transaction between a user and a merchant against the goods or services availed. The system comprises: user device capable of receiving beacon signals, centralized platform and merchant device or an additional device at the merchant' s end which is capable of transmitting-receiving beacon signals. The merchant device or an additional device at the merchant' s end continuously broadcasts signals which are received by the user device. The user device on receiving the said signal sends merchant ID or merchant' s beacon ID, distance of user device from merchant device , profile information such as user ID and any other such information to the centralized platform. The centralized platform then sends details of the merchant such as merchant name, shop address and any other such details to the user device. On receiving the details, user device checks the details and sends transaction request to centralized platform and enters transaction amount. After receiving the transaction request, centralized platform validates the authenticity of the transaction request and processes it. After processing the transaction, notification is sent to the user device and merchant device

(with respect to merchant ID) reporting the success or failure of transaction. The interaction between user device and centralized platform and centralized platform and merchant device is through the internet connection. The signal broadcasted by the merchant is composed of a unique identifier such as merchant

ID that uniquely identifies the merchant. The present invention may be performed using mid to short-range wireless communication preferably Bluetooth Low Energy due to its appropriate range, cost effectiveness, most convenient and easiest implementation over NFC, RFID, and other such methods.

The centralized platform maintains a database of the merchant IDs authorized by a user (respective user ID). It also maintains a record of all users near the merchant device (such as POS system). The database is used to verify the authenticity of the transaction request when the user is at merchant's location i.e. user device is near merchant device.

The centralized platform and user device also adds previously unauthorized merchants (respective merchant ID) which are later authorized, in the list of authorized merchants.

Another aspect of the present invention is a method that enables financial transaction between a user and a merchant against the goods or services availed. According to the method of present invention, beacon signals are continuously broadcasted by merchant device or an additional device at the merchant's end which is received by user device on entering merchant's shop. On receiving the said signal user device sends merchant ID or merchant's beacon ID, distance of user device from merchant device, profile information such as user ID and any other such information to the centralized platform. The merchant device then generates the transaction request in respect of user device (respective user ID) and sends it to the centralized platform. The centralized platform checks if the merchant device (respective merchant ID) is authorized by the user device (respective user ID).

If the merchant device (respective merchant ID) is authorized, then financial transaction is automatically performed by the centralized platform for the goods or services availed by the user device with respect to user ID.

In case the merchant device (respective merchant ID) is not authorized, notification is sent to the user device by the centralized platform and prompts to permit the merchant device (respective merchant ID) to charge the specified amount. After receiving the permission from user device, the centralized platform processes the transaction for goods or services availed by user device with respect to user ID. Further, if a transaction request is generated at the merchant's end without selection of any particular user ID, and the transaction amount is sent to the centralized platform, the nearest user device to merchant device is checked by centralized platform. The distance between merchant device and user device is also calculated. The amount is then shown to the user device which is closest and within a set range with the merchant device. The amount is not shown in case no user device is near the merchant device. The transaction amount can be modified by the user as well. Once the amount is confirmed/modified by the user, the transaction details are sent to the centralized platform which then processes the transaction. After processing the transaction, notification is sent to the user device reporting the success or failure of transaction. The interaction between user device and centralized platform and centralized platform and merchant device is through the internet connection.

In another case, a list of authorized merchants selected by user is maintained and saved on user device. The beacon signals are continuously broadcasted by merchant device or an additional device at the merchant's end which is received by user device on entering merchant's shop. On receiving the said signal, it is checked by the user device if the merchant device (respective merchant ID) is authorized, from the stored list. If the merchant device (respective merchant ID) is authorized, the profile information such as user ID and any other such information are sent to the merchant device by user device.

If the merchant device (respective merchant ID) is not authorized, then a prompt message is sent to the user device to send its user ID to merchant device. On receiving a response to send user ID, the profile information such as user ID and any other such information is sent by user device to the merchant device.

The user ID is then sent to the centralized platform by merchant device. On receiving user ID, user details are sent to the merchant device by the centralized platform. A transaction request is then generated by the merchant device in respect of user device (respective user

ID) and sends it to the centralized platform. The centralized platform performs financial transaction for the goods or services availed by the user device with respect to user ID. After processing the transaction, notification is sent to the user device reporting the success or failure of transaction. The interaction between user device and merchant device is by short- range wireless communication and interaction between centralized platform and merchant device is through the internet connection.

The signal broadcasted by the merchant is composed of a unique identifier such as merchant ID that uniquely identifies the merchant. The present invention may be performed using mid to short-range wireless communication preferably Bluetooth Low Energy due to its appropriate range, cost effectiveness, most convenient and easiest implementation over NFC, RFID, and other such methods.

The centralized platform maintains a database of the merchant IDs authorized by a user (respective user ID). It also maintains a record of all users near the merchant device (such as POS system). The database is used to verify the authenticity of the transaction request when the user is at a merchant's location i.e. user device is near merchant device.

A list of merchant IDs authorized by user while online is also maintained on the user device. The previously unauthorized merchants (respective merchant ID) which are later authorized are also added in the list of authorized merchants by the centralized platform and user device. Another aspect of the present invention is a method that enables user initiated financial transaction between a user and a merchant against the goods or services availed, as shown in Figure 4. According to the method of present invention, beacon signals are continuously broadcasted by merchant device or an additional device at the merchant's end which is received by user device on entering merchant's shop. On receiving said signal user device sends merchant ID or merchant's beacon ID, distance of user device from merchant device, profile information such as user ID and any other such information to the centralized platform. The details of the merchant such as merchant name, shop address and any other such details are then sent to the user device by centralized platform. The details are checked by user device and transaction request is sent to centralized platform. The transaction amount is then entered manually. After receiving the transaction request, authenticity of the transaction request is validated by centralized platform and then it is processed. After processing the transaction, notification is sent to the user device and merchant device (respective merchant ID) reporting the success or failure of transaction. The interaction between user device and centralized platform and centralized platform and merchant device is through the internet connection.

The previously unauthorized merchants (respective merchant ID) which are later authorized are also added in the list of authorized merchants by the centralized platform and user device. The system and method of the present invention requires the merchant (merchant device) to be registered and hence needs to sign-up for an account and have a merchant device or point- of sale device or any additional device capable of broadcasting beacon signals. The sign-up process requires merchant to provide necessary documents, for example, identity proof, tax documents, shop or company name if available and bank account details to receive the funds. After verification, the merchant provided a merchant ID using which it is allowed to perform financial transaction.

The system and method of the present invention also requires user device (user) to sign-up or register. The user device is required to be capable of receiving beacon signals and is allotted a user ID after successful sign-up. The user then enters payment details against said user ID which is stored at the centralized platform. These payment details include but not limited to credit or debit card, bank account, mobile wallet account and other such options that allow electronic payments. However, payment details are not disclosed to the merchant in order to provide security and prevent fraud. The user is then prompted to authorize a merchant or a set of merchants enabling them to automatically process payments using user' s payment information when user is present at their stores. The user can also specify the range of distance between user device and merchant device at which merchant device is authorized to automatically perform transaction against the user ID. The merchant will not be able to perform any transaction if user is beyond that selected range of distance. Additionally, user is provided an option to enable timeouts for hands-free features that is for example, the feature is activated for 24 hour timeout, then after 24 hours, it is automatically disabled until user enables it.

Further in a scenario, user's details gets impersonated while broadcasted and can be read by anyone. For example, a device on which the user is not logged in can be made to transmit the user' s identifier. Such impersonation can be prevented by the following way: 1. Merchant to verify user's photo/any of the details on the POS once they are fetched from the centralized platform.

2. The user device can broadcast a one-time identifier which is generated using cryptographic techniques and is different for every transaction. This may help in identifying whether the transmitting device is a third party device or the actual device of the user on which he is logged in. In case the user' s identifier is intercepted by another device, the intercepting device will not be able to use that to conduct a transaction as an additional authentication (in the form a one-time identifier) will be required. This one time identifier can only be generated by the phone on which the user is logged in.

In the present invention, payment information such as the card details of user are never shared with the merchant during any stage of transaction process. The user is allowed to enable an option of opting for a confirmation message prior to the conduction of transaction. The user is notified and requested to confirm the transaction.

While the present invention has been described with reference to one or more preferred aspects, which aspects have been set forth in considerable detail for the purposes of making a complete disclosure of the invention, such aspects are merely exemplary and are not intended to be limiting or represent an exhaustive enumeration of all aspects of the invention. The scope of the invention, therefore, shall be defined solely by the following claims. Further, it will be apparent to those of skill in the art that numerous changes may be made in such details without departing from the spirit and the principles of the invention.

Claims

CLAIM

1) A method for facilitating financial transactions between a user and a merchant, comprising: continuously broadcasting of beacon signal(s) containing merchant ID by merchant device or an additional device at merchant's end and receiving said signal(s) by user device; sending relevant information to centralized platform by the user device on receiving said signals; generating transaction request and sending transaction amount to the centralized platform by the merchant device; and checking if the merchant ID is authorized by the user device on receiving said transaction request by the centralized platform, wherein if the merchant ID is authorized, automatically performing financial transaction by the centralized platform; wherein if the merchant ID is not authorized, notifying the user device by the centralized platform and prompting to permit the merchant device to charge specified amount; performing financial transaction on receiving said permission from the user device.

2) The method for facilitating financial transactions between a user and a merchant as claimed in claim 1, wherein user is offline, comprising:

continuously broadcasting of beacon signal(s) by merchant device or an additional device at merchant's end and receiving said signal(s) by user device;

on receiving said signals, checking if merchant device is authorized by the user device from the list of authorized merchants stored on user device;

if the merchant ID is authorized, sending user ID to the merchant device by user device; if the merchant ID is not authorized, notifying the user device and prompting to permit the merchant device; sending user ID to the merchant device on receiving response to send user ID;

sending user ID by merchant device to the centralized platform, to send user details; sending user details by the centralized platform to merchant deice on receiving user ID; generating transaction request by merchant device on receiving said user details and sending the request to the centralized platform; processing the transaction by centralized platform on receiving the said transaction request.

3) The method for facilitating financial transactions between a user and a merchant as claimed in claim 1,

wherein said merchant device is personal computer, mobile device, tablet or any other communication device;

wherein said centralized platform consists of a central server or multiple servers for secured exchange of information with other platform, application or device; and wherein said user device is a mobile device such as phones, cellular phones, smart phones, tablets or any other communication device.

4) The method for facilitating financial transactions between a user and a merchant as claimed in claim 1, wherein said transaction request includes transaction details such as transaction amount, transaction type (with respect to products purchased), merchant ID, timestamp of request and other necessary details; and

wherein said relevant information by the user device includes merchant ID or merchant's beacon ID, distance of user device from merchant device, profile information such as user ID and any other such information.

5) The method for facilitating financial transactions between a user and a merchant as claimed in claim 1 wherein the signals broadcasted by merchant device is using mid to short- range wireless communication.

6) The method for facilitating financial transactions between a user and a merchant as claimed in claim 1, wherein interaction between the user device and the centralized platform, and the centralized platform and the merchant device is through internet .

7) The method for facilitating financial transactions between a user and a merchant as claimed in claim 2, wherein interaction between user device and merchant device is by short- range wireless communication and interaction between centralized platform and merchant device is through the internet.

8) A method for facilitating financial transactions between a user and a merchant as claimed in claim 1, wherein said transaction is initiated by user, comprising:

sending relevant details of the merchant device to the user device by the centralized platform on receiving relevant information from user device; confirming merchant details by user device, sending transaction request to the centralized platform and entering amount to be transacted; and authenticating and processing the transaction request by the centralized platform.

9) The method for facilitating financial transactions between a user and a merchant as claimed in claim 8,

wherein said centralized platform consists of a central server or multiple servers for secured exchange of information with other platform, application or device; and

wherein said user device is a mobile device such as phones, cellular phones, smart phones, tablets or any other communication device.

10) The method for facilitating financial transactions between a user and a merchant as claimed in claim 8,

wherein said transaction request includes transaction details such as transaction amount, transaction type (with respect to products purchased), merchant ID, timestamp of request and other necessary details; and

wherein said relevant details of the merchant device includes merchant name, shop address and any other such details.

11) The method for facilitating financial transactions between a user and a merchant as claimed in claim 8, wherein the signals broadcasted by merchant device is using mid to short- range wireless communication. 12) The method for facilitating financial transactions between a user and a merchant as claimed in claim 8, wherein interaction between the user device and the centralized platform, and the centralized platform and the merchant device is through internet.

13) A system for facilitating transactions between a user and a merchant, the system comprising: a user device, a centralized platform and merchant device or an additional device at merchant's end, the merchant device broadcasts beacon signals which is received by the user device, the user device then sends relevant information to the centralized platform, the centralized platform sends user ID alongwith other necessary details to the merchant device, the merchant device generates transaction request and sends to the centralized platform, the centralized platforms checks if merchant device is authorized by user device,

wherein if merchant device is authorized, the centralized platform automatically performs financial transaction;

wherein if merchant device is not authorized, the centralized platform notifies the user device and prompts to authorize the merchant device; on receiving authorization from the user device, the centralized platform performs financial transaction.

14) A system for facilitating transactions between a user and a merchant, wherein the user device is offline, the system comprising: a user device, a centralized platform and merchant device or an additional device at merchant's end, the merchant device broadcasts beacon signals containing merchant ID which is received by the user device, the user device checks if merchant ID is authorized from the list of authorized merchants stored on user device,

if merchant device is authorized, the user device then sends its profile information such as user ID and any other such information to the merchant device; if merchant device is not authorized, the user device is prompted to send its user ID to merchant device; on receiving a response to send user ID, the user device sends its profile information such as user ID and any other such information to the merchant device;

the merchant device sends the user ID to the centralized platform; the centralized platform receiving user ID sends user details to the merchant device; the merchant device then generates the transaction request in respect of user device and sends it to the centralized platform; the centralized platform performs financial transaction for the goods or services availed by the user device with respect to user ID.