Patent ID: 8761809

Claim:
A method of conducting a financial transaction, the method comprising: receiving, at a remote server computer, first accelerometer data and first geo-location data from a first mobile device, wherein the first mobile device comprises a first processor, a first geo-location unit coupled to the first processor, and a first accelerometer coupled to the first processor; receiving, at the remote server computer, second accelerometer data and second geo-location data from a second mobile device, wherein the second mobile device comprises a second processor, a second geo-location unit coupled to the second processor, and a second accelerometer coupled to the second processor; receiving, at the remote server computer from one of the first and second mobile devices, third accelerometer data that is used as movement security data to authenticate or verify the financial transaction, wherein the third accelerometer data is different than the first and second accelerometer data; receiving, at the remote server computer, timestamp data from the first and second mobile devices, wherein the time stamp data includes a plurality of at least three time points corresponding to a plurality of at least three acceleration values in the accelerometer data of the respective mobile device; receiving, at the remote server computer, a payment amount from at least one of the first mobile device or the second mobile device; analyzing, by the remote server computer, first geo-location data and second geo-location data to determine whether the first and second device are within a threshold distance of one another; analyzing, by the remote server computer, first accelerometer data and second accelerometer data and the timestamp data to determine whether the first mobile device moved towards the second mobile device; and responsive to determining that the first and second mobile devices are within the threshold distance of one another and that the first and second mobile devices moved towards each other, initiating the transmission of an authorization request message to a first issuer, wherein the first issuer approves or does not approve the authorization request message.