PAYMENT TOKENS
Systems and methods of payment processing via employing a payment token(s) that is supplied to smart portable devices, which are carried by customers. Such a token can be in form of a unique identifier(s) (which is generated by an issuing bank and received by the smart portable devices), and is associated with a payment amount for a merchant. Moreover, the point of sale (POS) terminal can accept the token offline, and hence a requirement for availability of communication between the POS and a payment processor/issuing bank can be mitigated.
1 . A computer implemented system comprising:
a payment token supplied to a smart portable device by a token issuing entity, the smart portable device carried by a customer during interaction with a merchant unit; and
a point of sale (POS) terminal as part of the merchant unit, the POS terminal receives the payment token from the smart mobile device.
2 . The computer implemented system of claim 1 further comprising a processing entity that processes the payment token.
3 . The computer implemented system of claim 2 , the processing entity further processes coupons.
4 . The computer implemented system of claim 2 further comprising a workflow engine component that executes a workflow instance that include a list of tasks related to processing tokens.
5 . The computer implemented system of claim 2 , the work flow engine further comprising a queue to execute tasks according to priority.
6 . The computer implemented system of claim 3 further comprising a notification component that notifies an operator for a required input.
7 . The computer implemented system of claim 6 further comprising a monitor component that monitors system resources.
8 . The computer implemented system of claim 3 further comprising an error detection component that detects existence of error during execution.
9 . The computer implemented system of claim 4 further comprising a log file to restart execution of the workflow at a safe state.
10 . The computer implemented system of claim 8 further comprising an interface component that facilitates interaction between an operator and the workflow engine.
11 . A computer implemented method comprising:
receiving a payment token by a smart portable device; and
forwarding the payment token to a POS terminal by the smart portable device.
12 . The computer implemented method of claim 11 further comprising validating the payment token.
13 . The computer implemented method of claim 11 further comprising creating a file containing purchase data for the payment token.
14 . The computer implemented method of claim 11 further comprising forwarding the payment token to a merchant bank.
15 . The computer implemented method of claim 14 further comprising forwarding customer information to the issuing bank by the smart portable device.
17 . The computer implemented method of claim 11 further comprising sending a payment request from the POS to the smart portable device.
18 . The computer implemented method of claim 15 further comprising transferring funds by the issuing bank.
19 . The computer implemented of claim 11 further comprising forwarding a coupon by the smart portable device to the POS.
20 . A computer implemented system comprising:
purchasing means for purchasing an item from a POS; and
means for transferring the purchasing means to a processing entity.