Patent ID: 8014755
Filing Date: 2011-09-06
Classification: G06Q,H04M

Abstract:
1. A mobile communication device including a data processing system supporting mobile payment, comprising: a data processor, including program storage storing programs including instructions executable by the data processor, and having data communication resources supporting a plurality of communication protocols including at least one protocol supported by a telecommunication provider network and at least one protocol for wireless proximity coupling; said programs being adapted to maintain stored value in memory accessible by the data processor, to support authentication of the mobile communication device for communications with transaction terminals, to communicate with a transaction terminal via wireless proximity coupling, and to communicate with a server via the telecommunication provider network; said programs including a program adapted to execute a transaction involving changing stored value on the mobile communication device, including: storing data representing a stored value on the mobile communication device; establishing a wireless link between the mobile communication device and a transaction terminal; executing communications between the mobile communication device and the transaction terminal using the wireless link to change the stored value represented by the data stored on the mobile communication device according to a particular transaction; passing a first record of the particular transaction from the mobile communication device to a transaction server via a first communication channel through the telephone service provider network for reconciliation with a second record of the particular transaction sent to the transaction server via a second communications channel through a communication network coupled to the transaction terminal, wherein the transaction server maintains a first account of a user of the mobile communication device in the first business issued currency, and a second account of a merchant of the transaction terminal in the second business issued currency, and the transaction server handles the exchange between the first account in the first business issued currency and the second account in the second business issued currency, wherein said particular transaction includes an exchange between a first business issued currency honored by a first group of one or more businesses and a second business issued currency honored by a second group of one or more businesses, the first group of one or more businesses honor the first business issued currency according to a first contractual agreement among the first group of one or more businesses such that nonparties to the first contractual agreement are not required to accept the first business issued currency, and the second group of one or more businesses honor the second business issued currency according to a second contractual agreement among the second group of one or more businesses such that nonparties to the second contractual agreement are not required to accept the second business issued currency.