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:
 establishing trust between a first portable electronic device and a second portable electronic device;   using the first portable electronic device, directly transmitting a request for payment to the 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 and second portable consumer devices are configured to support transmission encryption.   
     
     
         22 . The method of  claim 21  further comprising sending the request for payment to a payment hub service, wherein sending the request for payment comprises using the first portable electronic device to send the request for payment to the payment hub service. 
     
     
         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 sending the request for payment to a payment hub service, wherein sending the request for payment to the payment hub service comprises using the first portable electronic device to send the request for payment to the payment hub service. 
     
     
         25 . The method of  claim 24  wherein the first and second portable electronic devices are phones. 
     
     
         26 . The method of  claim 25  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 is a mobile phone or a personal digital assistant. 
     
     
         28 . A computer readable medium comprising:
 code for establishing trust between a first portable electronic device and a second portable electronic device;   code for using the first portable electronic device, directly transmitting a request for payment to the second portable electronic device through a wireless link; and   code for 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 and second portable consumer devices are configured to support transmission encryption.   
     
     
         29 . The computer readable medium of  claim 28  wherein the wireless link comprises an RF or IR link. 
     
     
         30 . The computer readable medium of  claim 28  wherein the first portable electronic device is a mobile phone or a personal digital assistant. 
     
     
         31 . The computer readable medium of  claim 30  further comprising code for sending the request for payment to a payment hub service. 
     
     
         32 . The computer readable medium of  claim 28  further comprising code for sending the request for payment to a payment hub service. 
     
     
         33 . A portable electronic device comprising the computer readable medium of  claim 28 . 
     
     
         34 . The portable electronic device of  claim 33  further comprising a transmitter and a receiver. 
     
     
         35 . A method of facilitating a transaction comprising:
 receiving an approval of a request for payment at a server computer at a payment hub service, wherein the approval of the request for payment was obtained after a first portable electronic device directly transmitted a request for payment to a second portable electronic device through a wireless link, and after the approval of the request was received at the first portable electronic device, wherein the approval was sent directly from the second portable electronic device to the first portable electronic device through the wireless link; and then   facilitating payment from a payer's account to a payee's account.   
     
     
         36 . The method of  claim 35  wherein the payer account is in a payer bank and the payer's account is in a payee bank. 
     
     
         37 . The method of  claim 35  wherein the first portable electronic device is a personal digital assistant or a mobile phone. 
     
     
         38 . The method of  claim 35  wherein the first portable electronic device is operated by a seller and the second portable electronic device is operated by a buyer. 
     
     
         39 . A computer readable medium comprising code for performing the method of  claim 35 . 
     
     
         40 . A server computer comprising the computer readable medium of  claim 39 .