Patent ID: 7255264

Claim:
An electronic payment system comprising: a radio frequency or RE module that has a monetary value stored in a non-volatile memory, said module being attached to a cellular phone without any electrical connection to the said cellular phone; a reading device or reader installed in a point of payment location which communicates with the said module and performs the functions of deducting a payment from a balance stored in the value to effect said payment and replenishing the monetary value stored in the module; a small computer acting as a local server that is networked to a plurality of readers that collects data from the readers; a wide area network which interconnects the local server to a central processing facility and a cellular phone network; a central processing facility or back-end facility that collects and processes data from the readers situated in different locations and; the cellular phone network which acts as a medium to exchange data between readers, servers and back-end; whereby the said payment is deducted by the reader from the value stored in the RF module and transmitted to the central processing facility which processes said payment and sends the payment information to the cellular phone using the cellular phone network, with the value stored in the RF module being replenished by using the cellular phone to transmit request information which is sent to all the readers located in the points of payment.