System and method for processing financial transactions

摘要

A network for processing retail sales transactions includes a customer transceiver with a unique customer number, a reader receiving the customer number and sending it to a point-of-sale device (34) where it is combined with transaction information to form a transaction entry. The transaction entry is sent through a merchant computer to a transaction processing system (26) having a customer database. The transaction processing system (26) references an entry in the customer database corresponding to the customer/transmitter ID number and routes the transaction entry to a payment processing system (16) specified in the customer database entry.