Patent ID: 8175967

Claim:
A computer-implemented method for effectuating electronic payments for purchases made by a mobile computing device user from a merchant, the method comprising the steps of: providing a mobile wallet stored on a mobile computing device, the mobile wallet serving as a portal to a bank account for use in purchasing, the mobile wallet further including at least one of a credit card number and a debit card number; providing an application implemented by computer processing components on the mobile computing device, the application activating the mobile wallet; performing steps through the mobile wallet including, receiving at the mobile computing device a secure user log-in to the mobile wallet in order to authenticate the mobile wallet user; authenticating the mobile wallet user; upon authentication, providing the mobile wallet user with an option to perform internet shopping; approving an internet purchase initiated by the mobile wallet user from an internet merchant at the mobile wallet; accessing and verifying payee information of the internet merchant including a merchant account at a merchant bank; pushing credit from mobile wallet of the mobile device user over a network to the internet merchant account at the merchant bank; and generating a purchase confirmation using the mobile wallet for transmission to the internet merchant.