Patent ID: 11888995
Assignee: WELLS FARGO BANK, N.A.
Field: Digital communication (Electrical engineering)
Classification: CPC H  G | IPC G  H

Claim 12:
13. A mobile device comprising:
one or more processing circuits including one or more processors and one or more memories having instructions stored thereon that, when executed by the one or more processors, cause the one or more processors to:
generate a value transfer message, the value transfer message including terms of a value transfer from an account of a sending party to one of a receiving party or one or more merchants;
signcrypt the value transfer message using each of public and private keys of the sending party and a public key of the receiving party;
wrap the value transfer message in a SignedData cryptographic message, the SignedData cryptographic message being digitally signed using at least the private key of the sending party and a public key of a financial institution; and
send the SignedData cryptographic message to the financial institution;
wherein the financial institution can retrieve the signcrypted value transfer message from the SignedData cryptographic message using the public key of the sending party and a private key of the financial institution and provide the signcrypted value transfer message to the receiving party,
wherein the receiving party can de-signcrypt the signcrypted value transfer message using each of the public key and a private key of the receiving party and the public key of the sending party, and present the value transfer message to the financial institution to receive the value transfer,
wherein generating the value transfer message further comprises creating a list of merchants the receiving party can make a purchase from, and
wherein the value transfer includes a payment from the sending party account to one or more accounts of the one or more merchants from the list of merchants.