A mobile payment platform and service provides a fast, easy way to make payments by users of mobile devices. The platform also interfaces with nonmobile channels and devices such as e-mail, instant messenger, and Web. In an implementation, funds are accessed from an account holder s mobile device such as a mobile phone or a personal digital assistant to make or receive payments. Financial transactions may be conducted on a person-to-person (P2P) or person-to-merchant (P2M) basis where each party is identified by a unique indicator such as a telephone number or bar code. Transactions may be requested through any number of means including SMS messaging, Web, e-mail, instant messenger, a mobile client application, an instant messaging plug-in application or widget. The mobile client application, resident on the mobile device, simplifies access and performing financial transactions in a fast, secure manner.

Mobile person-to-person payment system

A virtual pooled account is used in operating a system having multiple financial partners. In a specific implementation, the system is a mobile banking system. Instead of maintaining separate general ledgers for each financial institution, the system will keep one general virtual pooled account. This will reduce the settlement and operational costs of the system. The owner of the virtual pooled account will receive the float on the virtual pooled account, and this float will be distributed to the multiple financial partners according to a formula.

Virtual pooled account for mobile banking

A configuration (a system and/or a method) are disclosed that includes a unified and integrated configuration that is composed of a payment system, an advertising system, and an identity management system as well as their associated methods such that the unified system has all of the benefits of the individual systems as well as several additional synergistic benefits. Also described are specific configurations (subsystems and/or methods) including the system's access point architecture, a user interface that acts as a visual wallet simulator, a security architecture, coupon handling as well as the system's structure and means for delivering them as targeted advertising, business card handling, membership card handling for the purposes of login management, receipt handling, and the editors and grammars provided for customizing the different types of objects in the system as well as the creation of new custom objects with custom behaviors. The configurations are operable on-line as well as through physical presence transactions, e.g., mobile transaction through a mobile phone or dedicated device at a physical site for a transaction.

Secured Electronic Transaction System

A technique is used to ensure the authenticity of a wireless transmission source which is requesting a transaction to be performed by a system. The transaction may be a person-to-person money transfer or other value exchange transaction. The wireless transmission source may be a mobile phone or other similar device. The wireless transmission source transmits a key with the transaction request. The system will determine the authenticity of the transmission based on the transmitted key. If the transmission is determined to be authentic, the transaction will be acted upon. Various approaches for determining authenticity are discussed. The technique may also be used to prevent acting upon duplicate transmissions.

Authenticating Wireless Person-to-Person Money Transfers

Methods and systems for making a financial payment to a payee via a stored value (SV) card utilizing a mobile device such as a mobile telephone (cellphone) or wireless connected personal digital assistant (PDA). The mobile device communicates wirelessly with a mobile financial transaction system (MFTS) that stores user information and transaction information. A user enters information via the mobile device identifying a payee and indicating a stored value card payment method. The mobile device generates a mobile payment instruction that includes information corresponding to the identified payee and indicating a stored value card payment method. The mobile payment instruction is wirelessly communicated to the MFTS. The MFTS generates an MFTS payment instruction to a payment instruction recipient that can issue a new stored value card and/or reload funds onto a pre-existing stored value card. The MFTS communicates the MFTS payment instruction to the payment instruction recipient, which arranges for payment to the identified payee by issuing a new stored value card or reloading funds onto a pre-existing stored value card.

Methods and Systems For Making a Payment Via A Stored Value Card in a Mobile Environment

A system (and a method) for electronic financial transactions includes a sender and a recipient each having an electronic wallet, a sending bank and a receiving bank each having a host application system and an authentication server, and a wallet management center with a host application system and an authentication server. The sender uses its electronic wallet to send an encrypted payment instruction directly to the electronic wallet of the recipient. The recipient can perform a second level encryption of the instruction for submission to the wallet management center for authentication. Once authenticated, the wallet management center notifies the recipient and submits payment instructions for clearing by the corresponding sending and receiving banks. Payment authorization is authenticated directly by the sending bank without involvement of the wallet management center. For enhanced usability, payment details may be originated from the recipient to the sender using proximity or online messaging.

Extended electronic wallet management

A system (and a method) for electronic financial transactions includes at least of each of a sender having an electronic wallet, a recipient having an electronic wallet, a sending bank having a host application system and an authentication server, a receiving bank having a host application system and an authentication server, and a wallet management center with a host application system and an authentication server. The sender uses its electronic wallet to send an encrypted payment instruction directly to the electronic wallet of the recipient. The recipient can accept the payment by performing a second level encryption of the payment instruction for submission to the wallet management center for authentication. Once authenticated, the wallet management center immediately notifies the recipient and submits payment instructions for clearing by the corresponding sending and receiving banks. Payment authorization is authenticated directly by the sending bank without involvement of the wallet management center.

Electronic wallet management

A system and a method are disclosed that includes a first party with a terminal and a one-time password token, one or more second parties, each with a host application system and a service provider authentication server, and a third party with a host application system and a master authentication server. The first party uses a single one-time password token with a single personal identification number (PIN) to access the one or more second parties. A third party issues the token to the first party and synchronizes token secrets and parameters with the one or more second parties. This offloads token management from the second parties and allows the second parties to directly authenticate the first party. The authentication of the first party by the second party does not involve the third party.

Single one-time password token with single PIN for access to multiple providers

An asynchronous communication system and method are configured for secured communication between a sender and a recipient without a need for pre-arrangement of shared static encryption key secrets. In one embodiment a system receives an initiation request for authentication from a sender seeking to transmit a message. The system generates an asymmetric key set, which includes a private key and a public key associated with a key reference. The system stores the private key with the key reference and transmits the public key to the sender. The sender uses the public key to encrypt the message to be sent to the recipient. The system will then receive a request for the private key from a recipient of the encrypted message. The system will authenticate the recipient identity. Once authenticated, the system transmits the private key to the recipient, which uses the private key to decrypt the encrypted message.

Eric Chun Wah Law

Papers

Extended electronic wallet management

Electronic wallet management

Single one-time password token with single PIN for access to multiple providers

Asynchronous encryption for secured electronic communications