A TRANSACTION METHOD AND SYSTEM

摘要

A method of and a system (1 ) for effecting a financial transaction. A customer (2.1 ) is registered using a mobile device with a SIM card having a specific MSISDN (3.1 ). A customer profile is then created and linked to the mobile device MSISDN. The customer is provided with a virtual purse (6.1 ) linked to the customer profile and enabled to use the mobile device with the linked MSISDN to transact against a balance associated with the virtual purse. The mobile phone IMEI and SIM card IMSI are stored against the customer profile on the transaction system and the MSISDN, IMEI and IMSI will be verified against a mobile phone network database before a transaction is allowed. The database is selected from a Home Location Register (HLR), Visitor Location Register (VLR) and/or Equipment Identity Register (EIR). The virtual purse may be linked to a bank account (4) of the customer.