Bottom of the pyramid pay method and system

Patent metadata

Field	Value
Publication number	US-2016110696-A1
Application number	US-201514884151-A
Country	US
Kind code	A1
Filing date	Oct 15, 2015
Priority date	Oct 15, 2014
Publication date	Apr 21, 2016
Grant date	—

Abstract

One or more embodiments provide a system and method comprising receiving at a device a first token associated with a first account; executing a transaction; recording the executed transaction at each of the device and the first token, wherein the execution of the transaction is offline; and balancing the account associated with the first token per the transaction when the first token is online after the executed transaction. Numerous other aspects are provided.

First claim

What is claimed is:

1 . A method comprising:
receiving at a device a first token associated with a first account; executing a transaction; recording the executed transaction at each of the device and the first token, wherein the execution of the transaction is offline; and balancing the account associated with the first token per the transaction when the first token is online after the executed transaction.

2 . The method of claim 1 , wherein the transaction is executed in real-time.

3 . The method of claim 1 , further comprising:
receiving at the device a second token associated with a second account, wherein the transaction is executed between first token and the second token; recording the executed transaction at the second token; and balancing the account associated with the first token and the second token per the executed transaction when one of the first token and the second token are online after the executed transaction.

4 . The method of claim 3 , wherein the transaction is executed with funds stored on one of the first token and the second token.

5 . The method of claim 3 , further comprising:
associating an identifier with the first account and the second account, wherein the identifier recognizes the account has already been balanced per the transaction.

6 . The method of claim 1 , wherein the device is one of a chip-to-chip device, a mobile point of sale device or a point of sale device.

7 . The method of claim 1 , further comprising:
accessing one or more accounts associated with the first token via receipt at the device when the device is online; and selecting the account to associate with the transaction.

8 . The method of claim 1 , further comprising:
generating a receipt of the executed transaction via a receipt module when the first token is online.

9 . The method of claim 8 , wherein the receipt includes the details of the executed transaction.

10 . A system comprising:
a first token associated with a first account; a device operative to receive the first token; wherein a transaction between the first token and the device is executed and then recorded on each of the first token and the device; a memory; at least one bottom of pyramid pay processor, coupled to the memory, and operative to:
receive the transaction information, and
balance the account associated with the first token per the transaction when the first token is online after the executed transaction

11 . The system of claim 10 , wherein the device is selectively online and offline.

12 . The system of claim 10 , wherein the transaction is executed in real-time.

13 . The system of claim 10 , further comprising:
a second token associated with a second account, wherein the transaction is executed between first token and the second token; wherein the bottom of pyramid pay processor is operative to:
record the executed transaction at the second token; and
balance the account associated with the first token and the second token per the executed transaction when one of the first token and the second token are online after the executed transaction.

14 . The system of claim 13 , wherein at least one of the first token and the second token store funds prior to the transaction, and the transaction is executed with the stored funds.

15 . The system of claim 13 , further comprising:
an identifier associated with the first account and the second account, wherein the identifier recognizes the account has already been balanced per the transaction.

16 . The system of claim 10 , wherein the device is one of a chip-to-chip device, a mobile point of sale device or a point of sale device.

17 . The system of claim 10 , further comprising:
a wallet module operative to:
access one or more accounts associated with the first token via receipt at the device when the device is online; and
select the account to associate with the transaction.

18 . The system of claim 10 , further comprising:
a receipt module operative to generate a receipt of the executed transaction when the first token is online.

19 . The system of claim 18 , wherein the receipt includes the details of the executed transaction.

Assignees

• Mastercard International Inc

Inventors

• Angus Michael David
• Beric John
• Brown David Colby
• Gewirtz Chanoch Henuch
• Goss Salah Malaika
• Hill Dennis J
• Killian Patrick L
• Malhotra Sandeep
• Musser Paul Michael
• Nathan Tara
• Roberts David Anthony
• Savoye Mark N
• Sylvester Dave

Classifications

• G06Q20/367

  involving electronic purses or money safes · CPC title

• G06Q20/108 Primary

  Remote banking, e.g. home banking · CPC title