System and method for facilitating electronic financial transactions using a mobile telecommunication device

US7379920B2 · kind B2 · utility

Inventors

• Gary Leung · San Jose, US
• Rudolph Lee · Greenwood, US
• Kevin Cheng · Seattle, US
• Peter Chui · Forbes, AU
• Andrew Mitchell · Rochester, US
• Shahen Mekertichian · Forbes, AU
• Raymond Fung · Forbes, AU
• Joseph Chan · Sai Kung, CN

Key dates

• Filing date: Dec 4, 2002
• Grant date: May 27, 2008
• Expiry date: Dec 4, 2022

Classification

• Technology area (CPC H): Electricity
• CPC primary: H04W8/26
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A transaction processing system for processing a transaction between a supplier and a customer, said system comprising a supplier device for initiating the transaction, a system server and a mobile communication device, said device containing a message processing program module for enabling local verification of the transaction within the mobile device, wherein a transaction message is sent from the supplier device to the system server, a message requesting payment for the transaction is sent from the system server to the mobile communication device, the transaction is authorized and verified at the mobile telecommunications device from which a verification message is sent back to the system server, and the transaction is then processed.