Patent ID: 8150772
Filing Date: 2012-04-03
Classification: G06Q,G07C,G07F,H04L,H04W

Abstract:
1. A method for authenticating a financial transaction with a vendor at a point of sale (POS), the method comprising: storing an application program in a first secure element (SE) of a mobile phone equipped with a user biometric trait input device, the application program programmed to storing credentials of the user in the second SE of the phone, the second SE being operable in response to the request from the application program to wherein the authenticating of the financial transaction is performed by a third party service provider acting as a trusted service manager (TSM) in cooperation with and on behalf of one or more third party credit or payment service providers, and wherein the instruction codes include all of the information necessary to both effect and authenticate the transaction without the need for the third party credit or payment service providers having to provide it.