NEAR-REAL-TIME PAYMENT TRANSACTION FACILITATION SYSTEM

摘要

A near real time payment transaction facilitation system designed for mobile phone or other communication devices. The participant identification is by way of a globally unique code assigned to their communication device with no SIM change at the time of registration with a bank/financial institution. The proposed system enables users to pay for goods or services or cash directly from their existing bank/financial institution accounts with no requirement to open up a new wallet account through a secure payment gateway and the availability of money to the payee in their bank/financial institution account is instant. Settling between banks is performed either via a Central Bank/Monetary Authority in the case of local banks, or via international settlement channels in the case of international banks.