Patent ID: 8045956

Claim:
A method of a transaction server to handle transaction records for a particular transaction initiated by at least partly wireless communication between 1) a mobile communication device having a stored value represented by data on the mobile communication device and 2) a transaction terminal, comprising: in response to the particular transaction that 1) changes the stored value represented by data on the mobile communication device according to the particular transaction and 2) is initiated by at least partly wireless communication between the mobile communication device and the transaction terminal: receiving, at the transaction server, a first record of the particular transaction from the mobile communication device via a first communication channel through the telephone service provider network; receiving, at the transaction server, a second record of the particular transaction from the transaction terminal via a second communications channel through a communication network coupled to the transaction terminal; and reconciling the first and second records at the transaction server to verify the particular transaction, 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.