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ELECTRONIC PAYMENT AND ASSOCIATED SYSTEMS

[Category : - Telecommunications]
[Viewed 1647 times]

Excerpts from patent text:

By linking together mobile telephony systems and payment clearance systems such as those operated by banks and credit card companies, substantial facilitation of electronic payments may be achieved. Existing security systems designed to protect the mobile telephony system, for example SIM cards and optional encryption provide a base level of transaction security which may be enhanced by suitable programming to require the use of a PIN to validate a transaction. By linking such systems with e.g. ATMs, the usefulness of a mobile telephone, where each assigned telephone number essentially functions as an identity number (or, in certain enhancements, as an account number), substantial transaction economics can be achieved without compromising security, with audit trail features and with automatically generated confirmations and acknowledgements.

Although reference has been made above to mobile telephone units, this should be interpreted broadly to cover not only the standard hand-held mobile telephone unit including a SIM card and enabling SMS to be used, but should be taken to include any more sophisticated personal communication devices such as WAP telephones (Internet Protocol) or palm-top computers with mobile telephone access capacity.

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Patent publications:

EP 1334475

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mhaidar (France)

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