Contactless payments on a distributed ledger using NFC

Abstract

This is a method and system for contactless payment on a distributed ledger using Near Field Communication (NFC). The point-of-sale (POS) device enters NFC Host Card Emulation (HCE) mode. The customer device uses its NFC system to read transaction details from the POS device. The customer device generates a digitally signed transaction message and sends it to the distributed ledger to initiate the transfer of cryptocurrency funds from the customer's account to the seller's account. The seller system monitors the distributed ledger to determine when the transaction is complete. The seller device starts in NFC read mode and can switch to NFC HCE mode in response to data read from the customer device.

Description

Technical Field

[0001] Cross - reference to Related Applications This application claims the priority of U.S. Provisional Patent Application No. 63 / 496,632, filed on April 17, 2023, the entire content of which is hereby expressly incorporated by reference.

Background Art

[0002] Near - Field Communication (NFC) is a short - range wireless communication protocol designed to operate over short distances, such as about 4 cm, enabling the transfer of data from passive NFC tags or chips to active NFC devices. NFC technology is widely used in contactless payment systems. In such systems, a seller has an NFC - compliant point - of - sale (POS) device operating in a read mode to detect and read data from an NFC tag brought within the read range. A customer can make a payment using a bank card equipped with a built - in NFC chip having the customer's debit or charge account information. When the card is brought within the read range of the POS device, the POS device can read the customer payment information and use it to process the transaction.

[0003] Conventional smartphones also support NFC and use this technology to enable mobile payments. To use a smartphone as a payment device, the NFC system of the smartphone enters a host - card - emulation (HCE) broadcast operating mode that emulates a passive NFC chip. When the phone is brought near a POS device, the POS device sees it as a payment card and reads payment data from the phone. Smart wallet software such as Apple Pay and Google Pay can be used to store information of multiple credit cards and debit cards, and the user can select the payment card to be used for a given transaction.

[0004] Figure 1 shows a conventional system 100 and process for contactless payment using an NFC chip payment card 10 or an NFC-enabled smart device 15 together with a merchant POS device 20. The contactless payment process begins when the customer holds the card 10 or mobile device 15 with a built-in NFC chip near the POS device 15, allowing payment information to be read by the POS device 15 (step 101). The POS device 15 emits radio frequencies to power the chip in the card or device, enabling the chip to transmit its unique encrypted code. In the case of a credit card device 10, the built-in NFC chip transmits encrypted information that identifies the cardholder's account. In the case of a smart device 15, it maintains customer payment information, such as a virtual credit card account, using an internal wallet or other transaction application software within the smartphone. When the payment function is activated, the software switches the phone's NFC system to HCE mode. The customer holds the smartphone 15 near the POS device 20. The POS device 20 powers the NFC chip in the smartphone or emits radio frequencies that are detected by the NFC chip. The application software configures the NFC system so that, in response to a read from the POS device, the selected user card account number is transmitted from the phone 20.

[0005] Payment account information is authenticated by the POS device 20 using a unique encryption code. Once the code is verified, the POS device 20 transmits the card number and transaction amount, along with other necessary information, to the designed card processing network 25 (such as Visa or Mastercard) (step 102). The card processing network 25 then passes the transaction information to the card issuer 30 for authentication (step 103). Once the card issuer 30 confirms the payment, the card issuer 30 transfers the funds from the customer's account to the merchant's account (not shown), and a transaction authorization message is sent back to the POS device 30 via the card network (step 104).

[0006] This process, using either a card or a smart device, typically takes 5-15 seconds to complete, and the same security measures for POS transaction processing apply regardless of whether account information is received by the POS device via an NFC link from a card emulator on the card or smart device. When a smart device is used, the security of HCE payments also depends on the security of the smartphone, the security of the mobile wallet app, and the security of the NFC communication between the phone and the POS.

[0007] Despite its great success, current NFC payment methodologies have several drawbacks. Not all smart devices, including NFC systems, support the HCE operating mode necessary for devices to be used in the aforementioned NFC digital transactions. Some devices restrict the use of HCE mode. For example, HCE mode on iOS devices is currently only supported for use with Apple Pay.

[0008] Furthermore, most POS devices are computationally weak because they are designed for limited functionality. A typical POS device has a processor operating at 1GHz or less and a maximum of 2GB of RAM. In traditional payment scenarios using a credit card or a smartphone functioning as a credit card (HCE mode), the POS terminal needs to carry the sender's account information to the processor. To integrate blockchain functionality into traditional systems, a POS device needs to be at least a light node in blockchain-based payment scenarios. This requires more computing resources than are available to a typical POS device. Operating as a blockchain node may also require more energy than is normally supplied to a POS device. [Overview of the Initiative]

[0009] These and other drawbacks are addressed by the methods and systems disclosed herein that provide contactless payments utilizing Near Field Communication (NFC) technology in a form that supports cryptocurrency transactions and the recording of transactions on distributed ledgers such as blockchains.

[0010] Customer devices such as smartphones and seller POS devices each support the NFC communication protocol. Both sellers and customers have currency accounts on a distributed ledger, along with public and private keys associated with those accounts.

[0011] In a transaction, the seller enters the transaction amount into the POS device. Unlike traditional NFC transaction methods, the POS device operates in HCE broadcast option mode, and the customer device operates in NFC read operation mode to read transaction information from the POS device. Transaction information may include the transaction amount and the seller's public key to the cryptocurrency account to which the payment should be made. Transaction information such as price and currency can be displayed to the customer device, and the customer is asked to approve the transaction. The customer device can also use the received seller's public key to read information about the seller from the distributed ledger, and further seller information displayed to the user as part of the user's transaction approval process.

[0012] Software within the user device generates a transaction message containing the transaction amount and the seller's public key. The transaction message is signed with the customer's private key and then sent by the customer device to a distributed ledger, thereby initiating the transfer of funds from the customer account to the seller account associated with the seller's public key. The POS device can also provide a transaction ID, such as a random nonce number, as part of the transaction information, and this transaction ID can be included in the transaction message.

[0013] Upon receiving a transaction request, the transaction is processed using conventional methods appropriate to the digital currency and distributed ledger in question. Generally, the ledger system verifies that the user's account has sufficient funds available and then records the transfer in the ledger.

[0014] POS devices can monitor ledger records for fund transfers. When a POS device detects that a transaction has been successful and written to the ledger, it can output a message indicating that the transaction was successful on the POS device's display or elsewhere.

[0015] Transactions can take the form of automatically executed smart contacts. In one embodiment, the seller has a seller messaging ID, such as a text message number or IM address, which is provided to the customer device and may be further included in the transaction information contained in the transaction message. The smart contact may include the ability to automatically send a message to the seller messaging ID indicating that the transaction was successful (or failed for a specified reason). In this embodiment, the seller does not need to actively monitor the ledger to determine whether the transaction was successful, but instead can wait to receive a message associated with the transaction when the smart contact is activated.

[0016] In certain embodiments, a transaction is initiated as a conventional NFC transaction with a customer device in HCE mode that emulates a passive NFC chip. When the customer device is brought near a POS device, the POS device detects and reads the data provided by the customer device. Instead of providing transaction card information, the customer device may instead provide data indicating that an alternative transaction methodology (such as those disclosed herein) should be used. When the POS device detects that an alternative transaction methodology has been signaled, the POS device enters HCE mode, and the transaction process proceeds as disclosed above with the customer device in read operation mode.

[0017] This method can be implemented as a software application installed in the memory of the customer and POS device and executed by the respective device processors. Various additional functions can also be added. In one embodiment, the customer device and the POS device can exchange information about different types of supported cryptocurrencies, and the user can select the desired cryptocurrency to use for the transaction.

[0018] The disclosed systems and methods offer a novel approach to contactless payments by combining the convenience and security of NFC technology with the transparency and immutability of blockchain technology. This represents a significant advance in the field of digital payments, potentially bringing substantial benefits to both businesses and consumers.

[0019] Advantageously, the disclosed methods and systems enable secure and efficient transactions by allowing users to make payments using NFC-enabled devices such as smartphones in conjunction with the seller's point-of-sale (Point of Sale) terminal. Payments are processed and recorded on the blockchain, providing an immutable transaction record. This technology can bring significant benefits to both businesses and consumers by improving the speed and security of transactions while reducing the need for cash or physical cards.

[0020] This system and method enable the easy integration of cryptocurrency as a payment method, further expanding the range of payment options available to both sellers and consumers. A unique and secure digital identity for each user is created for use with blockchain technology, but this identity can also be used for various other purposes, such as loyalty programs and digital wallets, which can be used in conjunction with this payment system.

[0021] This system and method can be implemented in various settings, including retail stores, online markets, and peer-to-peer transactions. It can also be easily integrated with existing point-of-sale information management terminals, enabling a seamless business transition.

[0022] Another advantage of this system and method is the ability to integrate with future central bank digital currencies (CBDCs). As more countries explore the use of CBDCs, this technology enables the smooth integration of CBDCs into existing payment infrastructures. This helps to promote wider adoption of CBDCs by providing a secure and efficient way for consumers to conduct transactions using digital currencies issued by their respective central banks. The use of blockchain technology ensures a secure record of all CBDC and cryptocurrency transactions and provides an immutable record for regulatory or auditing purposes. This can help to allay central banks and governments' concerns regarding potential risks and issues associated with the issuance and use of CBDCs and cryptocurrencies. Further features and advantages of the present invention, as well as the structure and operation of various embodiments of the present invention, are disclosed in detail below by reference to the accompanying drawings.

Brief Description of the Drawings

[0023] [Figure 1] It is a diagram of a conventional system and process for contactless payment using NFC. [Figure 2] It is a high-level diagram of system 200 showing a high-level data flow in the implementation of a novel method for contactless payment on a distributed ledger using NFC. [Figure 3] It is an example of transaction information and approval screen. [Figure 4A] It is a high-level flowchart of the features of the novel methodology. [Figure 4B] It is a high-level flowchart of the features of the novel methodology. <00000八十九>It is a high-level flowchart of the features of the novel methodology. [Figure 5]It is a simplified block diagram of a customer device and a POS device.

Embodiment for Carrying Out the Invention

[0024] FIG. 2 is a high-level diagram of system 200 showing a high-level data flow in the implementation of a novel method for contactless payment on a distributed ledger using NFC. The system includes a customer device 50 and a point-of-sale information management device 55. The customer device 50 has an NFC function and is a smartphone or other computing device such as a tablet computer that can be used by a customer during a transaction with a seller. The customer device 50 includes one or more internal processors that operate to execute an application program stored in an internal memory, including an electronic wallet application for implementing the method. A user interface such as a touch screen display 51 is used to present information to the user and receive user input. The POS device 55 has one or more processors that execute an application program stored in a memory for conducting customer transactions and includes an NFC function. The POS device 55 may also have other components such as a display 56, as well as a keyboard, a card slot, a magnetic stripe reader, and a receipt printer.

[0025] The customer device 50 and the POS device 55 have network communication capabilities that enable communication with a distributed ledger system 60, such as a public blockchain, which is accessible via a network such as the Internet (not shown). The seller associated with the POS device 55 and the user associated with the customer device 50 can each access their cryptocurrency account via a public / private key system. The private key enables the account holder to manage their account, for example, to spend funds. The public key is used to provide the account address. In the context of this invention, the public key is used in place of the IBAN or account number used in transactions in conventional payment systems. The customer can use the private key to make a cryptocurrency payment to the seller account identified by the seller's public key. Different public keys may be available for use with different cryptocurrencies stored on different blockchains. An e-wallet application on the user device 50 can be used to store the public and private keys for the user's crypto account and provide the necessary functions to communicate with the blockchain and conduct transactions.

[0026] Referring to Figure 2, the POS device 55 stores the seller's account number used for cryptocurrency transactions. This can be the public key of the seller's crypto wallet. Different public keys may be available for use with different cryptocurrencies stored on different blockchains.

[0027] In a transaction, the cashier enters the transaction amount into the POS system 55. The POS device 55 puts the device's NFC circuit into HCE mode (opposite to the read mode used in conventional payment processing). To initiate payment, the customer opens an e-wallet or other payment app on their smart device 50. Using the "Pay" button on the app, the user can signal the app to turn on the NFC chip in their device into read mode. When the user's device is in NFC read mode and brought close enough to the POS device, the NFC system in the user's device detects the POS NFC circuit operating in HCE mode and begins reading data from the NFC in the POS device 55. The POS device 55 responds by sending seller account information regarding the payment currency type and transaction amount (step 200), which is captured by the consumer device 50 (step 201). A unique transaction ID, such as a random nonce, can also be generated by the POS system and provided to the user device.

[0028] After the user device 50 obtains the transaction address and amount, the transaction app can display information about the transaction amount and the account receiving the funds to the user, who can then accept or reject the transaction. Figure 3 shows an example of transaction information and an approval screen 300 that can be output to the display 51 of the consumer device 50. The app can also use the seller's account information to query the blockchain 60 for information about the seller's account from the blockchain, such as the seller's name or other data, and can display this information as well. Thus, the user knows not only how much they are paying, but also where the payment is going. This information adds an additional layer of security, as the user can easily verify the correct transaction amount before committing to payment. The user can review the transaction information, and if it is correct, they can indicate on the app that they are about to accept the transaction and start the payment process. If the information is incorrect, the user can reject the transaction.

[0029] After the transaction is accepted by the user, the app generates a transaction message, signs the transaction with the user's private key, connects to the blockchain node endpoint, and sends the transaction message to the blockchain via the node endpoint's API (step 203). The transaction message can take various forms, including smart contracts. The appropriate format of the transaction message may depend on the cryptocurrency and / or blockchain and node endpoint protocol in question. The transaction message includes the user's private key, the seller's account number, and the transaction amount. The transaction message may also include other information, such as a unique transaction ID, which is generated by the seller and provided to the user's device along with other transaction information. Various techniques for sending transaction requests to the blockchain, including via smart contracts, are known to those skilled in the art.

[0030] Upon receiving a transaction message, the blockchain nodes use a conventional process to verify that the transaction requirements are met, such as the user having sufficient funds in their cryptocurrency account. If the required criteria are met, the transaction is accepted and the currency transfer is recorded on the blockchain.

[0031] During the transaction process, the POS system 55 can monitor events on the blockchain to confirm whether the transaction has been written. The POS system can listen to the blockchain in various ways, such as using WebSockets to narrow it down to contract transactions and events only, or to directly monitor transactions for a specified account (steps 204, 205). Once the POS system 55 finds the transaction and confirms that the correct currency transfer has taken place, the POS system 55 can output a message to display 56 indicating that the transaction was successful and take other actions, such as printing a receipt as usual. If the transaction is not found at the end of a timeout period, such as 15 seconds, 30 seconds, or longer, the POS system can mark the transaction as a failure and listening will stop.

[0032] There are various ways in which the POS device 55 can confirm whether a transaction has been completed. In one embodiment, the POS can find the transaction written to the blockchain using a unique transaction ID generated for that transaction and sent to the user's device along with other data. Alternatively, the POS system can monitor a cryptocurrency account and the seller's account designed by the seller to receive payments and look for transactions that add the expected amount to the seller's account. This second approach is best suited for applications where the expected total transaction volume is low and therefore the risk of two transactions of the same amount being processed simultaneously is minimal. Further alternatively, the POS device may have an associated messaging ID, such as a text or IM account. This information can also be provided to the user app as part of the transaction data. The transaction request may take the form of a smart contact configured to automatically send the transaction result, such as whether the transaction was successful or unsuccessful, to the specified seller's messaging ID.

[0033] The transaction process is illustrated in detail by the flowcharts in Figures 4A and 4B. At the start of a transaction, the purchase price is entered into the POS system 55. The cashier may also have the option to enter a specific currency, such as a cryptocurrency type. There may be a default currency, or there may be several permitted standard currencies and / or cryptocurrencies that are acceptable to the seller and can be presented for selection. The currency selection options can be presented on the display 56 of the POS device 55, and the user is asked to select the one they wish to use. A transaction ID is generated. This can be a random nonce number that serves as the serial number for a particular transaction (step 402). The transaction software within the POS device 55 then packs the transaction information for NFC transmission, enters HCE mode to mimic a passive NFC chip, and sets the transaction information to be broadcast (steps 404, 406). In an exemplary embodiment, the packed transaction data includes a unique transaction ID, the transaction amount, the currency, and data specifying the seller's account number, which may be the public key of the seller's cryptocurrency account. Other information may also be provided.

[0034] The customer making the transaction opens a payment app such as an e-wallet (step 408). The customer may be given the option to select a payment currency and other transaction options. The payment app may have several different customer accounts, some of which may be intended for use with this methodology, such as cryptocurrency accounts, while other accounts, such as traditional credit or debit card accounts, use the traditional NFC payment protocol. When making a transaction using this methodology, the app puts the customer device into NFC reading mode (step 410). When the customer device 50 is brought close enough to the POS device 55, the POS device 55 is detected and the customer device 50 reads the transaction data from it (steps 412, 414).

[0035] Referring to Figure 4B, using transaction data from the POS device, an app on the user's phone can display transaction information and prompt the user to indicate whether the transaction should be approved (steps 416, 418). If approved, a transaction message is generated (step 420) and sent to the blockchain node for execution (step 422). The transaction message must specify at least (i) the transfer from the user's crypto account to the seller's account, (ii) the transaction amount, (iii) the currency in question, and (iv) the transaction noncode (transaction ID) provided by the POS device.

[0036] During this time, the POS device monitors the blockchain for the transaction using the transaction ID and transaction amount (step 424). The seller device can begin searching for the transaction in the blockchain immediately after the transaction data is read by the user's device, or it can wait for a certain period of time before beginning to monitor the blockchain transaction. This period may vary depending on the different blockchain and currency, based on how long it takes for a typical transaction to be recorded on the blockchain so that the POS system can find it. Similarly, the delay time between transaction checks can be selected based on which blockchain is used. If the transaction ID is found along with the correct amount (step 462), the transaction is considered successful and a message indicating this can be displayed (step 428). If the expected transaction is not found, the POS system can check again after a predetermined period of time, such as one or two seconds. If the transaction is not found within a predetermined timeout period (step 430), the transaction is considered failed and a transaction failure message can be displayed (step 432). As mentioned above, instead of monitoring the blockchain, the POS device can monitor a specified messaging address, depending on how the transaction is executed, such as via a smart contract.

[0037] In a modified example, referring to Figure 4C, the POS device 50 operates in a conventional transaction state, starting in NFC read mode and waiting to detect the customer device (steps 450, 452). A customer making a transaction using a smart device 50 opens a payment app (step 454), and the customer's device 50 is set to an initial NFC broadcast state with the NFC chip in HCE mode, as in a conventional transaction (step 456). When the user brings their device 50 close to the POS device 55, the POS device reads data from the mobile device (step 458). Instead of card data transmitted as in a conventional NFC transaction, the data transmitted by the app includes an instruction that the novel transaction methodology of this disclosure should be used instead (step 460). The specific signaling data used in this process may vary. In one embodiment, the transmitted data record may include a flag signaling the type of transaction methodology to use. The POS device can verify the received data and determine whether it is standard card data to be processed conventionally or whether an alternative transaction processing flag is set (steps 460, 462). If an alternative transaction methodology should be used, the POS device 55 switches from NFC reading mode to HCE mode (step 464), and the process continues as described above, for example in step 402. Otherwise, the POS device can continue using conventional processing as shown in Figure 1. The app on the customer device 50 switches from HCE mode to NFC reading mode (step 468), and the process continues as described above, for example in step 412.

[0038] The POS device can automatically switch to the HCE state when it reads data from the customer's device indicating that this payment methodology should be used, and the customer device 50 can also automatically switch states, although in a modified example, the app may prompt the customer to select a transaction methodology. For example, the customer may be given the option to choose to proceed to this state so that the user can first confirm, through visual or audio output from the POS device, that the POS system supports this transaction methodology, or, if not, whether the app should use a conventional e-wallet transaction payment method instead.

[0039] In addition to signaling to the POS device 55 for using this transaction methodology, the customer app may also broadcast to the POS device the currency preferred by the user for the transaction. This data can be represented by HCE mode data transmitted by the customer device (step 460). If the user has multiple currencies available, such as via different cryptocurrencies, the app may allow the user to select the desired currency for the transaction from the currencies available to send to the POS device. Upon receiving this information, the POS device may signal, via a visual or audio display, whether the selected currency is supported.

[0040] In a further embodiment, the POS device 55 and the customer device 50 may perform a handshake process to initiate the exchange of data by switching between HCE mode and read mode. Instead of proceeding directly to the exchange of transaction data, when the POS device 55 first enters HCE mode, it may broadcast data indicating the type of currency accepted. The customer device 55, reading this data, can compare the POS's supported currency with the customer's account. Both the POS device and the customer may be shown supported currencies for selection, and the customer can choose the one they wish to use. As part of the handshake process, after reading the available currency from the POS, the customer may signal to move the device out of the NFC range and then back. When the POS device and the customer device detect that they are no longer within the NFC reading range, they may initiate the switching between HCE operating mode and read operating mode.

[0041] Figure 5 is a simplified block diagram of the customer device 50 and the POS terminal device 55. The customer device 50 comprises one or more processors 502 connected to a memory system 504. The memory 504 is used to store the operating software and associated data of the customer device 50, including application software for performing the functions of the customer device 50 shown in Figures 4A to 4C. The memory 504 may also include an electronic wallet application used to store the customer's public and private keys, as well as other information related to one or more customer payment accounts that may be used in contactless transactions. An NFC circuit 506 is controlled by the processor 502 for use in read operation mode and HCE broadcast operation mode. Various communication systems 508 enable the customer device 50 to communicate with external systems, including networks such as the Internet, which provide access to nodes of the blockchain 203 associated with the customer's cryptocurrency account. The communication system 508 may include cellular, WiFi, Bluetooth®, and other wireless and wired communication systems.

[0042] The POS device 55 comprises one or more processors 552 connected to a memory system 554. The memory 554 is used to store the operating software and associated data of the POS device 55, including application software for performing the functions of the POS device 55 as shown in Figures 4A-4C. The memory 504 may also contain other software, such as transaction-related software and software for interacting with the seller's backend sales system, as well as data including information identifying one or more seller cryptocurrency accounts available for use in touchless transactions. An NFC circuit 556 is controlled by the processor 552 for use in read operation mode and HCE broadcast operation mode. A variety of I / O systems 560 may be provided, including a display 56, as well as other components such as a keyboard, card slot, magnetic stripe reader, and receipt printer. A communication system 558 enables the POS device 55 to communicate with external systems, including networks such as the Internet, which provide access to nodes of blockchain 203 associated with the seller's cryptocurrency accounts. The communication system 508 may include cellular, WiFi, Bluetooth, and other wireless and wired communication systems. The POS terminal 55 also communicates with the seller's backend sales system 570. Various aspects of the functions disclosed herein, such as the functions of the POS device 55 shown in Figures 4A-4C, can be fully performed within the POS terminal 55, which is designed to operate in a standalone configuration. However, various functions described herein as being performed by the POS terminal 55 itself can, alternatively, be performed by software in the seller's system 570 that communicates with the POS terminal 55. For example, the seller's system 570 can receive information from the POS terminal regarding the initiation of a blockchain transaction, as disclosed. The seller's system 570 can then monitor the blockchain to determine whether the transaction has been successfully recorded on the blockchain. The successful transaction can then be communicated to the POS terminal 55.Such a configuration may be more efficient (compared to a standalone POS terminal) in a retail establishment where multiple POS terminals are available for customer use.

[0043] For the purposes of this disclosure, the functions disclosed as being performed by the POS device 55 should be understood to include functions performed by the POS terminal device 55 itself or by the POS device 55 in conjunction with the backend vendor system 570.

[0044] Various aspects, embodiments, and examples of the present invention are disclosed and described herein. Those skilled in the art can modify, add to, and change the invention without departing from the spirit and scope of the invention as defined in the appended claims.

Claims

1. A method for a customer to settle a transaction with a seller, wherein the customer has an associated customer device, the seller has an associated point-of-sale (POS) device, the POS device and the customer device support a Near Field Communication (NFC) protocol having a host card emulation (HCE) broadcast mode and a read mode, respectively, the customer and the seller each have accounts on a distributed ledger, each account has its own public key and private key, and the method is In the aforementioned customer device, Steps to enter NFC reading operation mode, The steps include reading transaction information, including the transaction amount and the seller's public key, from the POS device using the aforementioned NFC reading operation mode, A step of generating a transaction message including the transaction amount and the seller's public key, wherein the transaction message is signed with the customer's private key, A method comprising the steps of sending the signed transaction message to the distributed ledger to initiate the transfer of currency funds represented in the distributed ledger from a customer account stored in the distributed ledger to a seller account associated with the seller's public key.

2. In the aforementioned customer device, The steps include outputting transaction details, including the transaction amount, on the display of the customer device, The process further includes the step of receiving an approval instruction for the transaction on the input of the customer device, The method according to claim 1, wherein the step of sending the transaction message is performed after receiving the approval instruction.

3. In the aforementioned customer device, The step further includes using the seller's public key to retrieve information about the seller's account from the distributed ledger, The method according to claim 2, wherein the transaction details output on the display of the customer device further include the information relating to the seller account.

4. The method according to claim 1, wherein the transaction information read from the POS device further includes a transaction ID, and the transaction message further includes the transaction ID.

5. The method according to claim 4, further comprising the step of generating a random nonce number for use as the transaction ID in the POS device.

6. In the aforementioned POS device, Steps to enter HCE operating mode, The method according to claim 1, further comprising the step of transmitting the transaction amount and the seller's public key in response to an NFC read request from the customer device.

7. The customer device, while in the HCE operating mode, responds to an NFC read request from the POS device, based on an instruction that an alternative transaction methodology should be used, and then enters the NFC read operating mode. In the POS device, while in the NFC reading operation mode, The steps include detecting the presence of the customer device, The steps include: starting to read data from the customer device using the NFC protocol; Steps include entering the HCE operating mode in response to receiving an instruction from the customer device in the NFC read request that an alternative transaction methodology should be used. The method according to claim 6, further comprising:

8. In the aforementioned POS device, A step of monitoring the distributed ledger for an indication that the transaction has been recorded in the distributed ledger, The method according to claim 1, further comprising the step of outputting an instruction that the transaction was successful in response to detection that the transaction has been written.

9. The POS device has an associated messaging ID, and the transaction information read from the POS device further includes the messaging ID. The transaction message includes a smart contract configured to send a successful transaction message to the messaging ID in response to a successful transfer of funds from the customer account to the seller account. The method according to claim 1.

10. A system for customer-to-seller transaction settlement using a point-of-sale (POS) system that supports the Near Field Communication (NFC) protocol, wherein the customer and the seller each have their own accounts on a distributed ledger, each account has its own public key and private key, and the system A customer device comprising a processor, a near-field communication (NFC) system that selectively operates in read mode and host card emulation (HCE) broadcast mode, and memory, wherein the memory is The NFC system is set to NFC read operation mode, and transaction information including the transaction amount and seller's public key is read from the seller's POS device using the NFC read operation mode. A transaction message is generated that includes the transaction amount and the seller's public key, and the transaction message is signed with the customer's private key, A system comprising a customer device that stores computer instructions therein that configure the customer device processor to transmit the signed transaction message to the distributed ledger and initiate the transfer of currency funds represented in the distributed ledger from a customer account stored in the distributed ledger to a seller account associated with the seller's public key.

11. The computer instructions in the memory of the customer device The transaction details, including the transaction amount, are output to the customer device's display. On the input of the customer device, the approval instruction for the transaction is received, and, The system according to claim 10, further comprising instructions that configure the processor of the customer device to adjust to send the transaction message upon receipt of the approval instruction.

12. The computer instructions in the memory of the customer device Using the aforementioned seller's public key, retrieve information about the seller's account from the distributed ledger information. The system according to claim 11, further comprising instructions that configure the processor of the customer device to include the information relating to the seller account in the transaction details output on the display of the customer device.

13. The system according to claim 10, wherein the transaction information read from the POS device further includes a transaction ID, and the transaction message further includes the transaction ID.

14. The POS device, The POS device comprises a processor, a near-field communication (NFC) system that selectively operates in read mode and host card emulation (HCE) broadcast mode, and memory, wherein the memory of the POS device is Entering HCE operating mode, and, The POS device further comprises storing computer instructions therein that configure the POS device to transmit the transaction amount and the seller's public key in response to an NFC read request from the customer device. The system according to claim 10.

15. The computer instructions in the memory of the customer device further include instructions that configure the processor of the customer device to respond to an NFC read request from the POS device, and then enter the NFC read operation mode, with instructions that an alternative transaction methodology should be used while the customer device is in the HCE operation mode. The computer instructions in the memory of the POS device are Entering the aforementioned NFC reading operation mode, The presence of the customer device is detected using the NFC system, The system initiates reading data from the customer device using the aforementioned NFC protocol, and The instructions further include configuring the processor of the POS device to enter the HCE operating mode in response to the receipt in the NFC read request of an instruction from the customer device that an alternative transaction methodology should be used. The system according to claim 14.

16. The computer instructions in the memory of the POS device are The distributed ledger is monitored for an indication that the transaction has been recorded in the distributed ledger, and, The system according to claim 14, further comprising instructions that configure the processor of the POS device to output an instruction that the transaction was successful in response to detection that the transaction has been written.

17. The transaction information read from the POS device further includes the messaging ID of the seller's messaging account. The system according to claim 10, wherein the transaction message includes a smart contract configured to send a successful transaction message to the messaging ID in response to a successful transfer of funds from the customer account to the seller account.

18. The system according to claim 14, wherein the computer instructions in the memory of the POS device further include instructions that configure the processor of the POS device to generate a random nonce number for use as the transaction ID.

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