System and Method for Proximity-Based Financial Transactions Using Bluetooth Low Energy Device Identity Resolution

Abstract

A system and method for facilitating proximity-based financial transactions between mobile computing devices using Bluetooth Low Energy (BLE) device discovery and identity resolution are disclosed. A payer device performs a BLE scan to detect advertisement signals transmitted by one or more nearby devices. Device-associated identifiers extracted from the detected signals are transmitted to a transaction server, which resolves the identifiers to corresponding registered user accounts stored in a database. Resolved user information is returned to the payer device and presented for recipient selection. Upon receipt of transaction details and successful authentication, the transaction server executes a transfer of funds between accounts associated with the payer and selected payee