MOBILE COMMUNICATION DEVICE FOR CONDUCTING FINANCIAL TRANSACTIONS
The present invention advantageously combines communications aspects of mobile devices with financial transaction system capabilities in a novel manner. This advantageous combination enables a user to automatically initiate a financial transaction with a merchant upon the user being located in a particular geographic vicinity. Numerous types of transactions can be enabled using the present invention.
1 . A mobile communication device comprising:
a global positioning system module configured to use a global positioning system to determine a current geographic location of the mobile communication device;
an interface to accept a user-inputted geographic location and to accept a user-inputted transaction amount for a financial transaction;
a payment module configured to automatically initiate the financial transaction over a network with said determined current geographic location being within a particular distance of said user-inputted geographic location; and
a communication interface configured, upon the financial transaction having been initiated, to wirelessly transmit authentication details to the network to charge the user-inputted transaction amount against a particular amount.
2 . The device of claim 1 , wherein said interface is a graphical user interface for accepting said user-inputted geographic location.
3 . The device of claim 2 , wherein said graphical user interface is configured to display a map.
4 . The device of claim 1 , further comprising a map server to provide a map to said device.
5 . The device of claim 1 , wherein said payment module is configured to poll for a wireless connection to initiate the financial transaction.