Patent ID: 8019320
Filing Date: 2011-09-13
Classification: G06Q,H04M

Abstract:
1. A transaction terminal 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 for data communications with a server and at least one protocol for wireless proximity coupling; said programs being adapted to maintain records in memory of transactions involving transfer of stored value on mobile communication devices, to authenticate a mobile communication device for communications via the wireless proximity coupling, and to communicate with a server for settlement of accounts based on the records of transactions; said programs including a program adapted to execute a transaction to change the stored value in a mobile communication device, including: receiving data representing a stored value from the mobile communication device using the wireless proximity coupling; and passing a record of the particular transaction to a transaction server via a communications channel through a communication network for reconciliation with a second record of the particular transaction sent from the mobile communication device to the transaction server via a communication channel through the telephone service provider network, 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, wherein the transaction server has both a user account of the mobile communication device in the first business issued currency, and a merchant account of the transaction terminal in the second business issued currency, and wherein the transaction server handles the exchange between the user account in the first business issued currency and the merchant account in the second business issued currency.