Patent ID: 8645280

Claim:
A method for conducting a transaction between a customer and a merchant using a hand held communication device, comprising: selecting an account on the hand held communication device by a user; opening an application on the hand held device corresponding to the account; generating a first random transaction code using the hand held device; providing the first random transaction code to the merchant; sending the first random transaction code to a financial institution associated with the account, using the smartphone and having the merchant send a second random transaction code to the financial institution; having the financial institution match the first and second random transaction codes to link the merchant and the user, and assess a requested transaction for reliability; upon approval, having the financial institution send the user and the merchant a new random code to the user's smartphone and a merchant's display; comparing the new random code sent to the merchant with the new random code sent to the user, to verify the account; scanning a portion of the user and sending the scan to the financial institution to verify identify of the user; upon verifying the user's identification, sending a verification notice to the merchant; and completing the transaction after the merchant receives the verification notice.