Wireless telephony for collecting tolls, conducting financial transactions, and authorizing other activities

a technology of wireless telephony and toll collection, applied in the field of wireless telephony for collecting tolls, conducting financial transactions, and authorizing other activities, can solve the problems of unfavorable public safety, unfavorable public safety, and unfavorable public safety, and achieve the effect of high reliability and simple follow-up

Inactive Publication Date: 2007-07-17
736 PARTNERS
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  • Summary
  • Abstract
  • Description
  • Claims
  • Application Information

AI Technical Summary

Benefits of technology

[0004]The present invention avoids the failings of the prior art by providing methods which are highly reliable and simple to follow.

Problems solved by technology

These procedures leave something to be desired in that they are unduly complicated and less convenient and / or less secure.

Method used

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  • Wireless telephony for collecting tolls, conducting financial transactions, and authorizing other activities
  • Wireless telephony for collecting tolls, conducting financial transactions, and authorizing other activities
  • Wireless telephony for collecting tolls, conducting financial transactions, and authorizing other activities

Examples

Experimental program
Comparison scheme
Effect test

example 1

[0022]This example describes the implementation of the cell phone financial transaction procedure for the cash-equivalent purchase of a good or service. For such transactions, the cell phone functions as an electronic wallet, allowing the direct, secure transfer of money between two parties in lieu of cash. Funds are transferred (credited and debited) between the mobile phone accounts of the parties, or may be transferred between other pre-arranged financial accounts such as a credit card account to a bank account or vice-versa. Two cell phones may be used, one for each party to the transaction, or one phone may be used for both parties. The “payor” must initiate the transaction. For the greatest security, the “payor” must use his / her cell phone. This allows the mobile phone service provider to match the required PIN with the specific ID signal of the payor's cell phone. However, the service agreement between the mobile phone service provider and a customer could provide for account...

example 2

[0033]This example describes the implementation of the cell phone financial transaction procedure for the entrance time recording and exit payment by a parking facility customer. For these transactions under this procedure, the cell phone effectively functions as a transponder / identifier and as a contactless Smart Card or electronic wallet. This application of the procedure speeds through-put into and out of the facility, both for cash and card key customers. It is more convenient for the customer by not having to take a ticket to enter and handle cash to exit (or produce a card key). It greatly increases the number of customers a parking company can serve with automated equipment by expanding the market to include hourly users, not just monthly account holders. This makes eliminating of cashier functions feasible, reducing personnel, cash handling, and theft costs. This application could also give the parking company the option of eliminating its monthly billing system and costs by...

example 3

[0045]This example describes the application of the cell phone financial transaction procedure to the payment of transit fares, focusing on bus transit. For these transactions, the cell phone effectively functions as a contactless Smart Card. Unlike a contactless Smart Card, however, the user (rider) does not have to hold a card in close proximity to a card reader. The cell phone's ability to separate the fare transaction from the act of boarding the bus reduces the queuing time compared with the use of contact or contactless Smart Cards, or the payment of cash. This application of the procedure offers a greater number of payment options to customers, ranging from debiting a prepaid account with the transit operator or the mobile phone company, to debiting a credit card or bank account, to adding the fare charge to the mobile phone cell.

[0046]The use of this procedure requires a service arrangement between the transit operator and the mobile phone service provider. This agreement wo...

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PUM

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Abstract

The following procedures describe the use of cellular telephones and other analog or digital wireless communication devices to conduct transactions and activities. These procedures effectively allow such devices to function as an electronic wallet, a wireless PIN Pad, and a contactless Smart Card.

Description

CROSS REFERENCE TO RELATED APPLICATIONS[0001]The present application claims the benefit of provisional application Ser. No. 60 / 020,312 filed in the Patent and Trademark Office on Sep. 11, 1996. <?insert-start id="INS-S-00001" date="20070717" ?>In addition to this Reissue Application, co-pending is Reissue application Ser. No. 10 / 757,724 filed Jan. 15, 2004<?insert-end id="INS-S-00001" ?>.BACKGROUND OF THE INVENTION[0002]The present invention relates to methods of using a cellular phone or other wireless communication device to transfer funds between accounts, collect tolls and authorize other activities.[0003]Prior to the present invention, cellular phones and / or other wireless communication devices have been used in a variety of different procedures involving the transfer of funds between different accounts. These procedures leave something to be desired in that they are unduly complicated and less convenient and / or less secure.SUMMARY OF THE INVENTION[0004]The present...

Claims

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Application Information

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Patent Type & Authority Patents(United States)
IPC IPC(8): G06Q40/00G06Q20/04G06Q20/10G06Q20/14G06Q20/16G06Q20/32G06Q20/34G06Q20/36G06Q20/40G06Q20/42G07B15/06G07F7/08G07F7/10
CPCG06Q20/04G06Q20/10G06Q20/102G06Q20/108G06Q20/14G06Q20/16G06Q20/341G06Q20/363G06Q20/40G06Q20/425G07B15/02G07F7/0866G07F7/0886G07F7/1008
Inventor MORRILL, JR., PAUL H.
Owner 736 PARTNERS
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