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[0023]While wearable devices may have drawback (e.g., screen size, etc.), they also includes certain advantages. For example, because the wearable device is being worn by the first party, it could be used to capture biometric data of the first party. For example, a camera feature on the device could be used along with facial and/or retina recognition software to identify/verify the first party, a microphone feature on the device could be used alone with voice recognition software to identify/verify the first party, and/or a sensor feature on the device (e.g., capturing heart rate data, etc.) could be used to confirm that the wearable device is being worn while the mobile application is being used to facilitate a transaction. By way of another example, the mobile application may use the sensor data
Problems solved by technology
Not only does such circuitry require a certain amount of real estate, but it adds costs to the mobile device; costs that are ultimately born by the consumer.
Again, not only does such circuitry require a certain amount of real estate, but it adds costs to the POS device; costs that are ultimately passed on to the consumer.
This is e
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[0046]Preferred embodiments of the present invention include a host device communicating with at least a mobile device (e.g., smartphone, smartwatch, tablet, etc.) via a wide area network (WAN), such as the Internet. It should be appreciated that while the present invention is described in terms of facilitating a financial transaction (e.g., paying money in exchange for goods and / or services), the present invention is not so limited, and can be used to carry out any type of transaction (e.g., acquire money from an Automatic Teller Machine (ATM), pay for parking at an Automated Pay Station (APS), retrieve a vehicle from a parking structure / lot (e.g., valet, car rental, etc.), play a movie / game on a television (e.g., in a hotel room, etc.) (e.g., using a Set Top Box (STB)), add funds to (or acquire funds from) a gaming machine (e.g., slot machine, video poker, provide money to a friend or family member, etc.), etc.).
[0047]FIGS. 1 and 2 depict prior art mobile devices that can be used ...
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Abstract
A system and method for using at least location information to facilitate a transaction is provided. In one embodiment of the present invention, a mobile application operating on a mobile device is used to determine a location of the mobile device. Location information is then provided to a host device, where it is used to identify a second party. Information on the second party, including transactions offered, is then provided to the first party (e.g., via the mobile device, an intermediate device, and/or a device operated and/or owned by the second party). The first party can then interact with the mobile application to select or confirm at least one of the offered transactions. If the transaction is a purchase of goods/services, then a linked payment method may be charged. If the transaction is financial, then the first party may have to further provide authentication data (e.g., a PIN).
Description
RELATED APPLICATIONS DATA[0001]This application is a continuation of Ser. No. 15 / 620,110, which was filed on Jun. 12, 2017, which was a continuation-in-part of Ser. No. 15 / 410,544, which was filed on Jan. 19, 2017, the subject matter of which is incorporated by reference herein in its entirety.BACKGROUND OF THE INVENTION1. Field of the Invention[0002]The present invention relates to use of location information, along with other data, to carry out a transaction, and more particularly to an application operating on a mobile device (e.g., smartwatch, smartphone, etc.), the application being configured to acquire a location of the mobile device and to use the acquired location, along with other data (e.g., user name, password, biometric data, time, etc.) to perform a transaction.2. Description of Related Art[0003]Mobile devices, such as smartphones and smartwatches, are becoming more and more a part of our everyday lives. For years, there has been talk of a “digital wallet,” where a per...
Claims
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