Wireless payment method and systems

Abstract

A method for conducting a transaction is disclosed. The method includes using a first portable electronic device, and directly transmitting a request for payment to a second portable electronic device through a wireless link. Then, the second portable electronic device transmits an approval of the request for payment to the first portable electronic device. One of the first and the second portable electronic devices then sends the request for payment to a payment hub service. The payment hub service then facilitates the transfer of funds from a payer institution to a payee institution to complete the transaction.

1 - 20 . (canceled) 
     
     
         21 . A method for conducting a transaction comprising:
 using a first portable electronic device, directly transmitting a request for payment to a second portable electronic device through a wireless link; and   receiving approval of the request for payment at the first portable electronic device, wherein the approval is sent directly from the second portable electronic device to the first portable electronic device through the wireless link,   wherein the first portable electronic device and the second portable electronic devices are phones capable of long range and short range communication.   
     
     
         22 . The method of  claim 21  further comprising sending the request for payment to a payment hub service using the first portable electronic device. 
     
     
         23 . The method of  claim 21  wherein the wireless link comprises an infrared, RF, or optical link. 
     
     
         24 . The method of  claim 23  further comprising establishing trust between the first portable electronic device and the second portable electronic device before using the first portable electronic device to directly transmit the request for payment to the second portable electronic device. 
     
     
         25 . The method of  claim 21  further comprising establishing trust between a payment hub service and either the first portable electronic device or the second portable electronic device. 
     
     
         26 . The method of  claim 21  further comprising sending the request for payment to a payment hub service using the first portable electronic device, wherein the payment hub service facilitates the transfer of funds from a payer institution to a payee institution, and wherein the payer institution is a payer bank and the payee institution is a payee bank. 
     
     
         27 . The method of  claim 21  wherein the first portable electronic device comprises a digital certificate. 
     
     
         28 . A phone comprising:
 a processor; and   a computer readable medium coupled to the processor, the computer readable medium comprising code for directly transmitting a request for payment from the phone to a second portable electronic device through a wireless link, and code for receiving approval of the request for payment, wherein the approval is sent directly from the second portable electronic device to the phone through the wireless link,   wherein the phone is capable of long range and short range communication.   
     
     
         29 . The phone of  claim 28  wherein the computer readable medium comprises a digital certificate. 
     
     
         30 . The phone of  claim 29  wherein the computer readable medium further comprises code for establishing trust between the phone and the second portable electronic device. 
     
     
         31 . The phone of  claim 28  wherein the computer readable medium further comprises code for establishing trust between the phone and the second portable electronic device. 
     
     
         32 . The phone of  claim 28  wherein the wireless link comprises an IR link or an RF link. 
     
     
         33 . The phone of  claim 32  wherein the wireless link comprises the RF link. 
     
     
         34 . The phone of  claim 33  further comprising a transmitter and a receiver coupled to the processor. 
     
     
         35 . The phone of  claim 29  wherein the wireless link comprises an RF link. 
     
     
         36 . The phone of  claim 28  further comprising a transmitter and a receiver.