Method and system of payment for parking using a smart device
View Patent ↗In a first embodiment, a location-aware payment system including: a smart device, the smart device including: a location sensing mechanism for detecting its location; an identification mechanism for identifying the smart device; and a wireless communication mechanism; a display device having at least one of an indicator light, a printed receipt, and a digital read out; and a server, the server including: a wireless communication mechanism communicating with the smart device and display device; and a software program loaded into the server that receives and sends out communications, calculates amounts due between a payor and a payee, issues authorization codes, and performs banking transactions between a payor and a payee. In a second embodiment, the invention is a location-aware payment system including: at least two smart devices, the smart devices including: a location sensing mechanism for detecting its location; an identification mechanism for identifying the smart device; and a wireless communication mechanism; and a server, the server including: a wireless communication mechanism communicating with the smart devices; and a software program loaded into the server that receives and sends out communications, calculates amounts due between a payor and a payee, issues authorization codes, and performs banking transactions between a payor and a payee.
1. A location-aware payment system comprising:
a smart device, the smart device configured to at least:
receive a selection from a user of a park request and specification of a duration; and
calculate a location of the user and accuracy of the location;
transmit the location, the duration, and a smart device ID to a server;
transmit the duration to a display device;
a server, the server configured to at least:
receive from the smart device the location, the duration, and the smart device ID and in response calculate a charge, a payor, and a payee based on the received smart device ID, location, and duration; and
transmit the charge and an authorization code to the smart device; a display device, wherein the display device is physically separate from the smart device and the server and configured to at least:
receive the duration from the smart device; and
display at least one of an indicator light, receipt, code, placard, or the duration.
2. The system of claim 1 , further comprising a software program configured to perform banking transactions between the payor and the payee.
3. The system of claim 2 , wherein the software program is also configured to issue authorization codes.
4. The system of claim 1 , wherein the smart device is configured to determine the location using at least one of a GPS receiver, a system that triangulates position between cell towers, a WiFi positioning system receiver, and an XPS receiver.
5. The system of claim 1 , wherein the smart device is configured with wireless communication using at least one of 3G, 4G, Edge, WiFi, NFC, and Bluetooth.
6. A method of paying for parking comprising the steps of:
receiving a user selection of a park option and specification of a duration on a smart device having an ID;
calculating, by the smart device, a location of the user and accuracy of the location;
transmitting the smart device ID, location, and duration to a server;
in response to transmitting the smart device ID, location, and duration to the server, calculating a charge, a payor, and a payee based on the received smart device ID, location, and duration;
transmitting the charge to the smart device by the server;
transmitting the duration to a display device by the smart device, wherein the display device is physically separate from the smart device and the server; and
the display device displaying one of an indicator light, receipt, code placard, or the duration.
7. The method of claim 6 further comprising the step of calculating a fee, debiting the payor, and crediting the payee.
8. The method of claim 6 further comprising the step of transmitting an information message to the smart device.
9. The method of claim 6 further comprising the step of the smart device displaying a warning message at a pre-determined amount of time before the end of the duration.
10. The method of claim 9 further comprising the step of purchasing additional duration using the smart device by repeating the previous steps.