Mobile commerce payment system
A mobile commerce system and components thereof are provided in which multiple wireless mobile communications devices (mobile devices) each has a unique electronic identification and processing circuit capable of encrypting data utilizing an encryption key and a first software application providing connectivity to commercial webpage servers for purposes that include the conduct of selected transactions involving a payment for goods or services. Each mobile device is independently enabled to conduct financial transactions in real time by communication with a financial institution. Each mobile device further has a second software application termed mobile payment application adapted to interact with the first application to receive data as to a payment required to conclude a transaction conducted by way of a commercial webpage server. The mobile payment application initiates an instruction to the financial institution to make a payment to a payee designated by way of such data wherein the instruction is encrypted utilizing the unique electronic identification and processing circuit.
1. A mobile communication device, configured to communicate with a first server associated with a financial institution, the mobile communication device comprising:
an electronic identification circuit adapted to:
store an encryption key; and
a mobile payment application adapted to:
receive, from a first software application in the mobile communication device, payment details for performing a payment transaction to purchase goods or services, wherein the first software application is adapted to communicate with a second server associated with a webpage that offers the goods or the services being purchased, and the payment details include a payee designated by the second server;
create an instruction containing the payment details;
encrypt the instruction containing the payment details utilizing the encryption key stored on the electronic identification circuit to generate an encrypted instruction;
send the encrypted instruction to the first server to make a payment in real time to the payee designated by the second server;
receive, from the first server, a payment report for the payment transaction in response to the encrypted instruction sent to the first server by the mobile communication device; and
transmit the payment report to the second server after the payment report is received by the mobile communication device to complete the payment transaction.
2. The mobile communication device of claim 1 , wherein the first software application is a browser application.
3. The mobile communication device of claim 1 , wherein the mobile payment application is further adapted to prompt a user for entry of a personal identification number (PIN).
4. The mobile communication device of claim 1 , wherein the mobile communication device further includes a second software application that uses the mobile payment application to perform payment transactions.
5. The mobile communication device of claim 1 , wherein the mobile communication device is a mobile phone.
6. The mobile communication device of claim 1 , wherein the electronic identification circuit is a subscriber identity module (SIM).
7. The mobile communication device of claim 1 , wherein the first server transmits a successful payment report to the second server.
8. The mobile communication device of claim 1 , wherein the payment details further include a payment amount for the payment transaction and an identifier of the first software application.
9. The mobile communication device of claim 1 wherein the payment details further comprise a payment amount for the transaction, a payment reference, and an identifier for the mobile payment application, and wherein the mobile payment application is further adapted to prompt a user for entry of a personal identification number (PIN) and then use the personal identification number and the encryption key to sign the payment details.
10. The mobile communication device of claim 1 , wherein the encryption key is provisioned on the electronic identification circuit by a mobile operator.
11. A method for performing a payment transaction using a mobile communication device communicatively coupled to a first server associated with a financial institution and a second server associated with a webpage that offers goods or services, the mobile communication device including an electronic identification circuit and a mobile payment application, the method comprising:
receiving, at the mobile payment application in the mobile communication device, payment details for the payment transaction to purchase the goods or the services, the payment details including a payee designated by the second server;
creating an instruction containing the payment details;
encrypting the instruction containing the payment details utilizing an encryption key stored on the electronic identification circuit to generate an encrypted instruction;
sending the encrypted instruction to the first server to make a payment in real time to the payee designated by the second server;
receiving, from the first server, a payment report for the payment transaction in response to the encrypted instruction sent to the first server by the mobile communication device; and
transmitting, from the mobile payment application in the mobile communication device, the payment report to the second server to complete the payment transaction after the payment report is received by the mobile communication device.
12. The method of claim 11 , wherein the payment details are received from a first software application in the mobile communication device other than the mobile payment application.
13. The method of claim 12 , wherein the first software application is a browser application.
14. The method of claim 12 , further comprising:
receiving payment details for another payment transaction from a second software application in the mobile communication device.
15. The method of claim 12 , wherein the payment details further include an identifier of the first software application.
16. The method of claim 11 , wherein the mobile communication device is a mobile phone.
17. The method of claim 11 , wherein the electronic identification circuit is a subscriber identity module (SIM).
18. The method of claim 11 , further comprising:
prompting a user for entry of a personal identification number (PIN).
19. The method of claim 11 , wherein the first server transmits a successful payment report to the second server.
20. The method of claim 11 , wherein the payment details are received from a point-of-sale device.
21. The method of claim 11 , wherein the payment details are received from another mobile communication device.
22. The method of claim 11 , wherein the payment details further include a payment amount for the payment transaction.
23. The method of claim 11 wherein the payment details further comprise a payment amount for the transaction, a payment reference, and an identifier for the mobile payment application, and wherein the method further comprises:
prompting a user for entry of a personal identification number (PIN); and
signing the payment details with the personal identification number and the encryption key.