Patent ID: 8625838

Claim:
A computer system to conduct financial transactions without using traditional financial instruments while keeping a user's identity confidential in the financial transactions, comprising: a computer processor and a memory device; a database stored on the memory device adapted to store associated with a user's account at least a user's partial personal identification information and contact information of a personal communication device of the user, the user's partial personal identification information being selected from the user's personal identification data to avoid disclosing an identity of the user; a communication device operable by the processor to send a new pass code in substantially real-time to the user's personal communication device in response to receiving the user's partial personal identification information from a subject and the user's account complying with a pre-defined condition, the new pass code having a pre-defined life time; and a transaction processing module operable by the processor to approve a financial transaction with the user's account and to permit the subject to conduct the financial transaction in response to receiving the new pass code from the subject before the new pass code expires.