Patent ID: 8781904

Claim:
A computer implemented system for authorizing transponder-enabled transactions, comprising: a transaction server comprising a memory that stores an account table and is communicatively linked to a point of sale device, wherein the account table comprises financial account information relating to a financial account and the point of sale device is associated with a merchant; a transponder, that is provided to a user and is configured for inclusion in or on a wireless communications device that communicates independently of the transponder, that emits transponder identification information, linked to the financial account information, and that is capable of being received by a transponder information identification receiver that is coupled to the point of sale device, and the transponder identification information is emitted from the transponder upon presentation of the transponder with a transaction presented at the point of sale device; wherein further the received transponder identification information is communicated to the point of sale device, and subsequently transmitted to the transaction server along with a payment amount for the transaction, the transmission occurring via the communications link, and the transaction server providing a validation for the transaction, allowing the transaction to be completed, based upon the validation; wherein the transaction server and the account table are associated with an issuing bank and a transaction network; and a registration server communicatively coupled with at least the account table and at least one client workstation; wherein the registration server receives the financial account information and the transponder identification information from the client workstation, and links the financial account information and the transponder identification information in a database, and stores the linked information in the database for subsequent processing of transactions.