Electronic Transfer of Monetary Funds Using A Barcode Application

摘要

The electronic monetary transfer system uses a 2-Dimensional (2D) barcode. The service provider/inventors serve as a functionary for the transfer of monetary funds within the framework of several environments. One environment is defined as from one personal account holder to another personal account holder via a Smartphone. Another type of environment commonly referred to as point-of-sale (POS), is from one personal account holders Smartphone to a vendor/merchant account holder. The environments defined above don't represent the limits by which a monetary electronic transfer of funds using an electronic 2D barcode symbol will or could take place. The interface is a 2D time sensitive, pseudo-random barcode generated and uploaded to the requester's mobile device via a web-based application and is processed by an infrastructure similar to those used to support the processing of credit, debit and gift cards.