Patent ID: 8548922

Claim:
A private and secure payment system between two parties comprising: a central system and a portable wireless device on a cellular carrier network belonging to party A that is identified to the central system by only a cellular carrier assigned caller id and not by an IP address, the caller id provides security features to automatically identify the caller by the caller id to the central system and eliminate a user identification step of remote user authentication to the central system; the portable wireless device has a payment function that receives a party B's identification and a payment amount and with this information creates a data record and wirelessly transmits via the cellular network the data record to the central system; the central system identifies the party A by the caller id that is pre-stored in a database of the central system and processes the wirelessly received data record with pre-stored Party A and Party B's identification and their bank data in a plurality of databases of the central system to effect a private and secure payment transaction to the party B that does not transfer Party A's bank account data to the Party B.