Electronic payment system

摘要

The specification and drawing figures describe and show a system for making a payment across a point-of-sale device that includes at least one a payment instrument having financial data required to conduct a financial transaction across a credit network. The system also includes a mobile wireless instrument having a data processor operatively connectable to the point-of-sale device and to the payment instrument. At least one algorithm is provided for transmitting the financial data from the payment instrument to the data processor of the mobile wireless instrument, and for decrypting an encryption key, as well as transmitting an instruction from the mobile wireless instrument to the point-of-sale device to authorize the payment.

主权项

1. A computer-implemented method of conducting a financial transaction across a near-field communications enabled (NFC-enabled) point-of-sale device, the method comprising:
detecting a first positioning of a mobile wireless instrument in operational proximity of an NFC-enabled payment instrument; establishing a first short-range peer-to-peer communications link between the mobile wireless instrument and the NFC-enabled payment instrument in response to detecting the first positioning; receiving in the mobile wireless instrument encrypted NFC-enabled financial data from the NFC-enabled payment instrument over the first short-range peer-to-peer communications link; storing the encrypted NFC-enabled financial data in at least one of one or more non-transitory storage mediums of the mobile wireless instrument; receiving in the mobile wireless instrument a temporary transactional encryption key from a server; decrypting the NFC-enabled financial data in the mobile wireless instrument by applying the received temporary transactional encryption key to the encrypted NFC-enabled financial data; storing the decrypted NFC-enabled financial data in at least one of the one or more non-transitory storage mediums of the mobile wireless instrument; detecting a second positioning of the mobile wireless instrument in operational proximity of the NFC-enabled point-of-sale device; establishing a second short-range peer-to-peer communications link between the mobile wireless instrument and the NFC-enabled point-of-sale device; and sending an instruction from the mobile wireless instrument to the NFC-enabled point-of-sale device over the second short-range peer-to-peer communications link to authorize the financial transaction.