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Financial transactions system and method using electronic information

A technology of electronic information and financial transactions, applied in the field of financial transaction systems

Inactive Publication Date: 2005-02-09
PAYSETTER PTE LTD
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  • Summary
  • Abstract
  • Description
  • Claims
  • Application Information

AI Technical Summary

Problems solved by technology

However, there are still plenty of people who are limited to, or admittedly prefer, to use e-mail as their primary means of communication in party-to-party communications

Method used

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  • Financial transactions system and method using electronic information
  • Financial transactions system and method using electronic information
  • Financial transactions system and method using electronic information

Examples

Experimental program
Comparison scheme
Effect test

Embodiment Construction

[0113] The embodiments are directed to an electronic system including a client server computer system and a method therefor for performing financial transactions between parties using electronic information. In the current embodiment, each party has a wireless device that constitutes a client of the system, and one or more bank or similar financial institution account facilities. Accordingly, financial transactions are performed using electronic information in the form of SMS text messages.

[0114] as attached figure 1 As shown, the system 11 generally includes:

[0115] A financial service provider server, which acts as the main server 13;

[0116] a plurality of clients 15, one client 15a in the form of a PDA and another client 15b in the form of a mobile phone, the clients 15a and 15b being respectively associated with parties A and B of the financial transaction;

[0117] GSM mobile phone network 17, with SMS type instant messaging facilities, the network comprising GS...

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PUM

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Abstract

A method and a system for performing financial transactions between parties having clients (15a, 15b) with an electronic messaging facility and a banking account facility with a financial institution. Each party has an electronic messaging address (CIN) associated with the electronic messaging facility and a banking account number (CAN) associated with the banking account facility (27) thereof. A financial service provider server (13) is interfaced with the electronic messaging facility to handle communications between the clients (15a, 15b) of the parties and is also interfaced with the banking account facilities (27) of the parties to perform the financial transaction. The electronic messaging address (CIN) of each party is linked with the banking account facility therefor, and thus the banking account number(s) (CAN) thereof, within a database (45) associated with the server (13) to facilitate the financial transaction. The server (13) undertakes an authentication process within one and / or the other party using the electronic messaging facility requiring confirmation of a PIN also stored in the database (45). The authentication process is characterised by the server (13) providing the client (15a) of the one party instigating the financial transaction with a different electronic messaging address to 'reply to' when requesting the PIN, from the original electronic messaging address of the server (13) used by that same party to initiate the financial transaction, to enhance the security of the transaction..

Description

technical field [0001] The present invention relates to financial transaction systems and methods for performing financial transactions, including the use of electronic messages, such as SMS (Short Message System) messages and electronic mail. The present invention, although not personal, has particular utility for providing person-to-person financial transactions using wireless devices, such as mobile phones, PDAs (Personal Digital Assistants), pocket PCs (Personal Computers), etc., where the person may be users or merchants. The invention also finds application in terms of financial transaction services provided using electronic mail and similar types of electronic messaging systems. [0002] Throughout this specification, unless the context requires, the word "comprises" or variations thereof will be understood to imply the inclusion of stated integers or groups of integers to the exclusion of any other integers or groups of integers. Background technique [0003] The u...

Claims

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Application Information

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Patent Type & Authority Applications(China)
IPC IPC(8): G06F7/00G06Q20/04G06Q20/32G06Q20/40G07F7/10H04L12/58H04L29/12
CPCH04L61/6063G06Q20/04H04L12/58G06Q20/3223G06Q30/06G06Q20/3255H04L29/12009H04L29/12924G07F7/1025G06Q20/32G06Q20/108G07F7/1008H04L51/00H04L61/00H04L2101/663G06Q40/02H04W4/12G06Q50/40
Inventor 丹尼斯·门迪奥拉罗兰·阿伦·龙多洛·本宗安东尼·阿尔贝特·马丁内斯·萨莫拉
Owner PAYSETTER PTE LTD