Patent ID: 7739190

Claim:
An electronic settlement system using a barcode stored in a mobile terminal, comprising: a mobile terminal to receive a liquid crystal display (LCD) barcode via wireless Internet, and to store and display the LCD barcode; a bank server system to create the LCD barcode for a member, to store the LCD barcode into a database, to transmit the LCD barcode to a corresponding mobile terminal upon member registration, and to transmit a result of user's identification and a settlement authentication upon receiving a request for user's identification and settlement; a barcode scanner to read the LCD barcode displayed by the mobile terminal; and a shop client system to transmit the user's identification and settlement data including a total amount to be settled and a member's password as well as the read LCD barcode to the bank server system, to request the bank server system to identify the user and to settle the amount, to receive the result of the user's identification and the settlement authentication from the bank server system, to perform a settlement transaction if the settlement authentication from the bank server system is approved, and to output a settlement slip.