SYSTEM AND METHOD OF CONDUCTING TRANSACTIONS USING A MOBILE WALLET SYSTEM

1 . A method of managing transactions between a mobile wallet within a mobile device and a point-of-sale terminal at a merchant, the method comprising:

receiving a request for a purchase code from the mobile wallet;

generating a short-term purchase code;

transmitting the short-term purchase code to the mobile wallet; and

receiving the short-term purchase code from the merchant.

2 . The method of claim 1 , further comprising:

determining whether the short-term purchase code is expired;

determining whether the short-term purchase code is valid; and

transmitting user account information to the merchant when the short-term purchase code is not expired and is valid.

3 . The method of claim 2 , further comprising:

receiving transaction information from an account provider.

4 . The method of claim 3 , further comprising:

updating the mobile wallet associated with the mobile device to include the transaction information from the account provider.

5 . The method of claim 4 , further comprising:

transmitting an updated wallet to the mobile device.

6 . A server for managing transactions between a mobile wallet within a mobile device and a point-of-sale terminal at a merchant, the server comprising:

means for receiving a request for a purchase code from the mobile wallet;

means for generating a short-term purchase code;

means for transmitting the short-term purchase code to the mobile wallet; and

means for receiving the short-term purchase code from the merchant.

7 . The server of claim 6 , further comprising:

means for determining whether the short-term purchase code is expired;

means for determining whether the short-term purchase code is valid; and

means for transmitting user account information to the merchant when the short-term purchase code is not expired and is valid.

8 . The server of claim 7 , further comprising:

means for receiving transaction information from an account provider.

9 . The server of claim 8 , further comprising:

means for updating the mobile wallet associated with the mobile device to include the transaction information from the account provider.

10 . The server of claim 9 , further comprising:

means for transmitting an updated wallet to the mobile device.

11 . A server for managing transactions between a mobile wallet within a mobile device and a point-of-sale terminal at a merchant, the server comprising:

a processor operable to:

receive a request for a purchase code from the mobile wallet;

generate a short-term purchase code;

transmit the short-term purchase code to the mobile wallet; and

receive the short-term purchase code from the merchant.

12 . The server of claim 11 , wherein the processor is further operable to:

determine whether the short-term purchase code is expired;

determine whether the short-term purchase code is valid; and

transmit user account information to the merchant when the short-term purchase code is not expired and is valid.

13 . The server of claim 12 , wherein the processor is further operable to:

receive transaction information from an account provider.

14 . The server of claim 13 , wherein the processor is further operable to:

update the mobile wallet associated with the mobile device to include the transaction information from the account provider.

15 . The server of claim 14 , wherein the processor is further operable to:

transmit an updated wallet to the mobile device.

16 . A computer program product, comprising:

a computer-readable medium, comprising:

at least one instruction for receiving a request for a purchase code from the mobile wallet;

at least one instruction for generating a short-term purchase code;

at least one instruction for transmitting the short-term purchase code to the mobile wallet; and

at least one instruction for receiving the short-term purchase code from the merchant.

17 . The computer program product of claim 16 , wherein the computer-readable medium further comprises:

at least one instruction for determining whether the short-term purchase code is expired;

at least one instruction for determining whether the short-term purchase code is valid; and

at least one instruction for transmitting user account information to the merchant when the short-term purchase code is not expired and is valid.

18 . The computer program product of claim 17 , wherein the computer-readable medium further comprises:

at least one instruction for receiving transaction information from an account provider.

19 . The computer program product of claim 18 , wherein the computer-readable medium further comprises:

at least one instruction for updating the mobile wallet associated with the mobile device to include the transaction information from the account provider.

20 . The computer program product of claim 19 , wherein the computer-readable medium further comprises:

at least one instruction for transmitting an updated wallet to the mobile device.

21 . A method of managing transactions between a mobile wallet within a mobile device and a mobile store, the method comprising:

receiving a transaction request from the mobile store;

receiving a customer identifier from the mobile store;

retrieving the mobile wallet associated with the mobile device; and

retrieving customer account information from the mobile wallet.

22 . The method of claim 21 , wherein the customer account information includes at least one of the following: a preferred payment account, a default billing address, and a default shipping address.

23 . The method of claim 21 , further comprising:

receiving transaction information from an account provider, when the transaction is approved.

24 . The method of claim 23 , further comprising:

updating the mobile wallet associated with the mobile device.

25 . The method of claim 24 , further comprising:

transmitting an updated wallet to the mobile device.

26 . A server for managing transactions between a mobile wallet within a mobile device and a mobile store, the server comprising:

means for receiving a transaction request from the mobile store;

means for receiving a customer identifier from the mobile store;

means for retrieving the mobile wallet associated with the mobile device; and

means for retrieving customer account information from the mobile wallet.

27 . The server of claim 26 , wherein the customer account information includes at least one of the following: a preferred payment account, a default billing address, and a default shipping address.

28 . The server of claim 26 , further comprising:

means for receiving transaction information from an account provider, when the transaction is approved.

29 . The server of claim 28 , further comprising:

means for updating the mobile wallet associated with the mobile device.

30 . The server of claim 29 , further comprising:

means for transmitting an updated wallet to the mobile device.

31 . A server for managing transactions between a mobile wallet within a mobile device and a mobile store, the server comprising:

a processor operable to:

receive a transaction request from the mobile store;

receive a customer identifier from the mobile store;

retrieve the mobile wallet associated with the mobile device; and

retrieve customer account information from the mobile wallet.

32 . The server of claim 31 , wherein the customer account information includes at least one of the following: a preferred payment account, a default billing address, and a default shipping address.

33 . The server of claim 31 , wherein the processor is further operable to:

receive transaction information from an account provider, when the transaction is approved.

34 . The server of claim 33 , wherein the processor is further operable to:

update the mobile wallet associated with the mobile device.

35 . The server of claim 34 , wherein the processor is further operable to:

transmit an updated wallet to the mobile device.

36 . A computer program product, comprising:

a computer-readable medium, comprising:

at least one instruction for receiving a transaction request from the mobile store;

at least one instruction for receiving a customer identifier from the mobile store;

at least one instruction for retrieving the mobile wallet associated with the mobile device; and

at least one instruction for retrieving customer account information from the mobile wallet.

37 . The server of claim 36 , wherein the customer account information includes at least one of the following: a preferred payment account, a default billing address, and a default shipping address.

38 . The server of claim 36 , wherein the computer-readable medium further comprises:

at least one instruction for receiving transaction information from an account provider, when the transaction is approved.

39 . The server of claim 38 , wherein the computer-readable medium further comprises:

at least one instruction for updating the mobile wallet associated with the mobile device.

40 . The server of claim 39 , wherein the computer-readable medium further comprises:

at least one instruction for transmitting an updated wallet to the mobile device.