METHOD AND APPARATUS FOR MAKING SECURE TRANSACTIONS USING AN INTERNET ACCESSIBLE DEVICE AND APPLICATION

1 . A system for facilitating transactions between a customer, a merchant, and a source from which the transaction will be financed comprising:

a point of sale (POS) terminal comprising a barcode scanner, a server having a processor and storage, a smart phone capable of executing mobile applications, a source of funding a transaction, encryption and decryption means, and a network connecting said server,

said smart phone, said POS terminal, said source of funding, and the Internet, said storage receiving and storing customer information as a value profile associated with

said customer and said smart phone,

said storage receiving and storing said customer's purchasing history;

said encryption means encrypting said value profile and said purchasing history;

said processor creating a 2-D barcode comprising said encrypted value profile and purchasing history;

smart phone associated with said customer being pair with said server;

said server sending said 2-D barcode to said smart phone;

said smart phone displaying said 2-D barcode on a display;

said POS scanning said 2-D barcode;

said POS receiving additional information related to a transaction;

said POS transmitting said 2-D barcode and said additional information to said server;

said encryption and decryption means decrypting said 2-D barcode to retrieve said value profile;

said server authenticating the customer as authorized to conduct said transaction;

said server routing information regarding said transaction to said source of funding;

said server notifying said customer and said POS that said transaction has been settled.

2 . A system for facilitating transactions between a customer and a merchant, comprising:

a network comprising a point of sale (POS) terminal having a barcode scanner, a server, a smart phone, and a connection between said server, said smart phone, said POS terminal, and the Internet:

said smart phone accessing information regarding a customer and authenticating said information with said server;

said smart phone accessing a primary barcode associated with said customer;

said smart phone accessing an extension barcode associated with a merchant;

said smart phone combining said primary barcode and said extension barcode into a 2-D combined barcode;

said smart phone displaying said combined barcode;

said POS barcode scanner scanning said display of said combined barcode in a single pass;

said POS sending said scanned combined barcode to said server via the Internet;

said server authenticating, authorizing, clearing and settling said transaction.

3 . On a network comprising a point of sale (POS) terminal, a proprietary server, a smart phone, and a connection between said proprietary server, said smart phone, said POS terminal, and the Internet, a method of making a financial transaction comprising the steps of:

enrolling a customer, receiving said customer's information, and storing said customer's information as a value profile on a proprietary server;

compiling information regarding said customer's purchasing history;

encrypting said value profile and said customer's purchasing history and creating a 2-D barcode containing said encrypted value profile and purchasing history;

pairing a smart phone associated with said customer with said proprietary server;

sending said barcode to said smart phone;

displaying said 2-D barcode on a display of said smart phone;

scanning said 2-D barcode at said POS;

transmitting said 2-D barcode to said proprietary server;

decrypting said 2-D barcode to retrieve said value profile and said purchasing history;

associating said value profile with a financial transaction;

routing information regarding said financial transaction to a source of funding;

authorizing said financial transaction;

settling, clearing, and closing said financial transaction.

4 . On a network comprising a point of sale (POS) terminal, a proprietary server, a smart phone, and a connection between said proprietary server, said smart phone, said POS terminal, and the Internet, a method of making a financial transaction comprising the steps of:

accessing information regarding a customer and authenticating said information via the Internet;

creating a primary barcode and associating said primary barcode with said customer;

creating a extension barcode and associating said primary barcode with a merchant;

combining said primary barcode and said extension barcode into a 2-D combined barcode;

displaying said combined barcode on a smart phone display;

scanning said display of said combined barcode at said POS in a single pass;

sending said scanned combined barcode to said proprietary server via the Internet;

authenticating, authorizing, clearing and settling a retail transaction of exchange of one or more of credit, debit, prepaid account, reward, loyalty points, and coupons.

5 . On a network comprising a point of sale (POS) terminal, a proprietary server, a customer's value profile maintained on said proprietary server, a smart phone associated with said customer's value profile, said smart phone having global satellite positioning information, and a connection between said proprietary server, said smart phone, said POS terminal, and the Internet, a method of distributing coupons comprising the steps of:

determining and storing a GPS location of a POS terminals in a first merchant's store;

conducting a first financial transaction at one of said POS terminals in said first merchant's store;

determining the GPS location of said first financial transaction during an authorization phase of said transaction;

accessing said value profile associated with a customer;

displaying on said smart phone a time-limited coupon for a purchasing an item at a second merchant's store where said second merchant's store is in proximity to said determined GPS location and wherein said first time-limited coupon is selected based upon said customer's value profile;

conducting a second financial transaction at said second merchant's store, said second financial transaction comprising purchasing said item, said purchase comprising redeeming said time-limited coupon and paying any additional amount owing through an ACH transaction.

6 . On a network comprising a point of sale (POS) terminal, a proprietary server, a smart phone having global satellite positioning information, and a connection between said proprietary server, said smart phone, said POS terminal, and the Internet, a method of making a financial transaction comprising the steps of:

creating a secure encrypted token that partially formats an ACH transaction on a customer's smart phone;

pairing said smart phone to said proprietary server through the eCache application and;

scanning said pre formatted and fulfilled ACH data fields to a retailer's POS as a 2D barcode where information associated with a retail transaction is loaded into said pre formatted ACH data fields;

transmitting said formatted ACH to said proprietary server;

forwarding said formatted ACH to an Originating Depositary Financial Institution (ODFI) for processing said ACH.