Consumer, Merchant and Mobile Device Specific, Real-Time Dynamic Tokenization Activation within a Secure Mobile-Wallet Financial Transaction System

摘要

A secure system and method are disclosed to effectuate financial transactions over a secure internet backbone establishing and using a secure closed loop financial transactional system encompassing a proxy account and a pre-registered personal handheld mobile device to the account a preregistered merchant where all funds within the account remain in an "inactive" non-usable state until activated and allocated only by the consumer's registered mobile handheld device using a unique, time sensitive, device specific and merchant specific transactional token initially developed on the system's backend and subsequent token activation completion by the intended specific registered mobile device and by the intended merchant application.