One step near field communication transactions

Abstract

A one step method for transferring money from a sender to a recipient includes entering information relating to the transfer into a near field communication (NFC) enabled data communication device of the sender and then placing the sender's device in close proximity to a NFC enabled data communication device of the recipient. The sender's device is operable when placed in contact with or close proximity to the recipient's device to 1) establish an NFC link between the two devices, 2) gather information relating to the recipient from the recipient's device via the NFC link, and 3) transmit the information relating to the transfer and the recipient to a third party service provider via another network, such as the Internet, and thereby cause the service provider to transfer the money from a funding account of the sender to a receiving account of the recipient.

Description

RELATED APPLICATIONS[0001]This application claims benefit of U.S. Provisional Applications Nos. 61 / 024,758, filed Jan. 30, 2008, and 61 / 034,890, filed Mar. 7, 2008, the entire respective disclosures of which are incorporated herein by reference.BACKGROUND[0002]1. Field of the Invention[0003]The present disclosure relates generally to financial transactions and more particularly to peer-to-peer payment between mobile devices using near field communication (NFC) in a network environment.[0004]2. Related Art[0005]Arguably, mobile phones are currently the most widespread mobile computing device in the world. They have become ubiquitous companions in our life, enabling communication nearly anytime and anywhere to facilitate information access to mobile services and the Internet. In addition, mobile phones have become multimedia computing platforms with integral digital cameras for taking pictures and video, playing music, recording conversations, and for organizing our lives.[0006]Using ...

AI Technical Summary

Benefits of technology

The patent describes a method for making peer-to-peer payments between mobile devices using near field communication (NFC). The method involves entering information about the transfer into the sender's NFC device and then placing it close to the recipient's NFC device. The information is transmitted to a third party service provider, who then transfers the money from the sender's account to the recipient's account. This allows for quick and easy payments between mobile devices without the need for cash or credit cards.

Problems solved by technology

However, when attempting to connect two devices with Bluetooth, the setup is often lengthy and is very often not user-friendly.

However, this method is limited in that the transfer is with a retailer at a POS terminal or reader.

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