US 2017/0076275 A1 - Device And System For Electronic Fund Transfer - The Lens

Device And System For Electronic Fund Transfer

Published: Mar 16, 2017
Earliest Priority: Mar 11 2014
Family: 4
Cited Works: 0
Cited by: 0
Cites: 0
Additional Info: Full text

Abstract

A terminal device for making payments, comprises: a memory containing a stored payment amount; a local communication unit to carry out an authentication handshake with a second device located nearby and to carry out a contactless payment by altering said stored payment amount in a complementary manner at said terminal device and said second device respectively; and a synchronization unit to synchronize said stored payment amount with a server(s) over an electronic network following alteration due to the payment. As an alternative, the second device may be located remotely, and communication with the second device may be via the server.

Claims

A system for carrying out payments, comprising one or more servers and a terminal device, the terminal device synchronizable with the one or more servers over a first electronic network, the terminal device comprising:
a memory containing a stored payment amount;

a local communication unit configured to carry out an authentication handshake with a second device located nearby and to carry out a contactless payment by altering said stored payment amount in a complementary manner at said terminal device and said second device respectively; and

a synchronization unit configured to synchronize said stored payment amount with a server(s) over said first electronic network following alteration thereof due to said payment, and further being configured to carry out said synchronization with said server on detection of a low power condition prior to device shutdown.
The system of claim 1, wherein said local communication unit is configured to carry out said authentication handshake and the altering of float irrespective of electronic network connectivity.
The system of claim 2, wherein, in the event that either one of said authentication handshake and said altering of float is carried out in the absence of electronic network connectivity, said synchronization unit is configured to wait with said synchronization until network connectivity is regained.
The system of claim 1, wherein said local authentication unit comprises a near-field communication unit or Bluetooth module.
The system of claim 4, wherein said local authentication unit requires a near field communication or radio communication between said terminal device and said second device.
(canceled)
A system for carrying out payments, comprising one or more servers and a terminal device, the terminal device synchronizable with the one or more servers over a first electronic network, the terminal device comprising:
a memory containing a stored payment amount;

a local communication unit configured to carry out an authentication handshake with a second device located nearby and to carry out a contactless payment by altering said stored payment amount in a complementary manner at said terminal device and said second device respectively; and

a synchronization unit configured to synchronize said stored payment amount with a server(s) over said first electronic network following alteration thereof due to said payment, and further being configured to carry out said synchronization with said server after a predetermined number of transactions or after elapse of a predetermined time or after reaching a cumulative threshold amount of float transacted.
A system for carrying out payments, comprising one or more servers and a terminal device, the terminal device synchronizable with the one or more servers over a first electronic network, the terminal device comprising:
a memory containing a stored payment amount;

a local communication unit configured to carry out an authentication handshake with a second device located nearby and to carry out a contactless payment by altering said stored payment amount in a complementary manner at said terminal device and said second device respectively; and

a synchronization unit configured to synchronize said stored payment amount with a server(s) over said first electronic network following alteration thereof due to said payment, wherein said local communication unit is only open for authentication for a predetermined amount of time following initiation of said authentication by a user.
The system of claim 1, wherein said authentication between said terminal device and said second device comprises using a device identification number, authentication protocol and encryption, thereby to retain anonymity of the user.
The system of claim 1, wherein said synchronization unit uses a SIM card and authentication protocol to authenticate to said server.
The system of claim 1, wherein information exchanged between said terminal device and said second or third device to effect said payment is encrypted.
A system for carrying out payments, comprising one or more servers and a terminal device, the terminal device synchronizable with the one or more servers over a first electronic network, the terminal device comprising:
a memory containing a stored payment amount;

a local communication unit configured to carry out an authentication handshake with a second device located nearby and to carry out a contactless payment by altering said stored payment amount in a complementary manner at said terminal device and said second device respectively; and

a synchronization unit configured to synchronize said stored payment amount with a server(s) over said first electronic network following alteration thereof due to said payment, wherein said terminal device further comprises a remote communication unit configured to carry out an authentication handshake with a server, the authentication allowing said server to enable a remote payment to be carried out, the payment being associated with a third device located remotely over said first or a second electronic network, the remote payment comprising altering said stored payment amount in a complementary manner at said terminal device and said third device respectively.
A method of carrying out payments between individual users, comprising:
providing each of a plurality of users with a payment device comprising a memory, a remote communication unit and a local communication unit; allowing said users to obtain a negotiable amount from an account, said negotiable amount being stored on a server and copied from said server onto said payment device for use;

remotely communicating with said server to synchronize said negotiable amount between said server and said respective device;

one of said users using their respective devices to define a payment in a transaction with one other of said users;

said two users using said local communication unit to authenticate their respective devices to one another using a device to device authentication making said defined payment by making complementary changes to respective negotiable amounts at each device;

resynchronizing said negotiable amounts with said server following said transaction; and

carrying out said synchronization with said server at least on detection of a low power condition prior to device shutdown.
The method of claim 13, comprising carrying out said device to device authentication or said payment transaction irrespective of electronic network connectivity.
The method of claim 14, wherein, in the event that either one of said device to device authentication and said payment transaction is carried out in the absence of electronic network connectivity, said synchronizing of said negotiable amounts is delayed until network connectivity is regained.
The method of claim 13, wherein said local authentication unit comprises a near-field communication unit or Bluetooth module.
The method of claim 16, wherein said local authentication unit requires near field communication or radio communication between said terminal device and said second device.
(canceled)
A method of carrying out payments between individual users, comprising:
providing each of a plurality of users with a payment device comprising a memory, a remote communication unit and a local communication unit; allowing said users to obtain a negotiable amount from an account, said negotiable amount being stored on a server and copied from said server onto said payment device for use;

remotely communicating with said server to synchronize said negotiable amount between said server and said respective device;

one of said users using their respective devices to define a payment in a transaction with one other of said users;

said two users using said local communication unit to authenticate their respective devices to one another using a device to device authentication making said defined payment by making complementary changes to respective negotiable amounts at each device;

resynchronizing said negotiable amounts with said server following said transaction; and

carrying out said synchronization with said server after a predetermined number of transactions, or after elapse of a predetermined time or after reaching of a cumulative threshold amount transacted.
A method of carrying out payments between individual users, comprising:
providing each of a plurality of users with a payment device comprising a memory, a remote communication unit and a local communication unit; allowing said users to obtain a negotiable amount from an account, said negotiable amount being stored on a server and copied from said server onto said payment device for use;

remotely communicating with said server to synchronize said negotiable amount between said server and said respective device;

one of said users using their respective devices to define a payment in a transaction with one other of said users;

said two users using said local communication unit to authenticate their respective devices to one another using a device to device authentication making said defined payment by making complementary changes to respective negotiable amounts at each device; and

resynchronizing said negotiable amounts with said server following said transaction, wherein said local communication unit of either one of said users is only open for authentication for a predetermined amount of time following initiation of said payment transaction by a respective one of said users.
The method of claim 13, wherein said device to device authentication comprises authentication of said terminal devices using a device identification number, authentication protocol and encryption, thereby to retain anonymity of the user.
The method of claim 13, wherein said terminal devices use a SIM card and encryption to authenticate to said server.
The method of claim 13, wherein information exchanged between said devices to effect said payment is encrypted.
A method of carrying out payments between individual users, comprising:
providing each of a plurality of users with a payment device comprising a memory, a remote communication unit and a local communication unit; allowing said users to obtain a negotiable amount from an account, said negotiable amount being stored on a server and copied from said server onto said payment device for use;

remotely communicating with said server to synchronize said negotiable amount between said server and said respective device;

one of said users using their respective devices to define a payment in a transaction with one other of said users;

said two users using said local communication unit to authenticate their respective devices to one another using a device to device authentication making said defined payment by making complementary changes to respective negotiable amounts at each device; and

resynchronizing said negotiable amounts with said server following said transaction, wherein said device further comprises a remote communication unit configured to carry out an authentication handshake with said server, said server carrying out a remote payment by altering said negotiable amount in a complementary manner at said terminal device and with a third device respectively, said third device located remotely over said first or a second electronic network.
A terminal device for making payments, the device comprising:
a memory containing a stored payment amount;

a local communication unit configured to carry out an authentication handshake with a second device located nearby and to carry out a contactless payment by altering said stored payment amount in a complementary manner at said terminal device and said second device respectively; and

a synchronization unit configured to synchronize said stored payment amount with a server over an electronic network following alteration thereof due to said payment, and further being configured to carry out said synchronization with said server on detection of a low power condition prior to device shutdown.
The terminal device of claim 25, further configured to make or receive a payment remotely via communication with said server, a remote authentication handshake being carried out remotely through said server.
A system for carrying out payments, comprising one or more servers and a terminal device, the terminal device synchronizable with the one or more servers over a first electronic network, the terminal device comprising:
a memory containing a stored payment amount;

a local communication unit configured to carry out an authentication handshake with a second device located nearby and to carry out a contactless payment by altering said stored payment amount in a complementary manner at said terminal device and said second device respectively, wherein said authentication handshake authenticates said devices without authenticating corresponding users or accounts; and

a synchronization unit configured to synchronize said stored payment amount with one or more server over said first electronic network following alteration thereof due to said payment.