Patent ID: 8635157
Filing Date: 2014-01-21
Classification: G06Q

Abstract:
1. A mobile payment system, comprising: a merchant point of sale system; a third party payment network comprising a processing platform, card association, or other processing host for the formal authorization and settlement of customer and merchant payment information; a transaction authorization system that coordinates the activities among a customer device that hosts a consumer mobile application, the merchant point of sale system, and the third party payment network, in order to authorize and void transactions; a tender type button for initiating a transaction by the merchant point of sale or payment system, wherein the button processes the transaction with the mobile payment service provider's issuer identification number and forwards it to transaction authorization system directly from the point of sale or indirectly such as through middleware, frontend switch, gateway, processor, payment networks, or a backend switch; and a terminal identification that is read by the customer at the point of sale and entered into the consumer mobile application at the point of sale for linking the customer and merchant upon the transaction reaching the transaction authorization system.