The US Patent describes a mobile contactless payment and mobile wallet solution for conducting payments in store, online and for pay-at-the-table transactions.
The patent details how a mobile device can be used to conduct payment and other transactions using any number or type of accounts including credit, debit, gift, deposit, checking and loyalty accounts. The solution uses a transaction tokenization approach where a checkout token captured via key entry, image scanning, NFC, RFID, Bluetooth or other technologies is used to associate an end user and their payment accounts with a transaction.
Paydiant provides a mobile payment and offer platform that allows banks, retailers and restaurants to deploy mobile wallet capabilities into their iPhone and Android applications. Paydiant enables retailers to accept mobile payments and offers using their existing point-of-sale infrastructure while allowing consumers to make payments, redeem offers and receive e-receipts for purchases made online and in-store using mobile wallets installed on their existing iPhone and Android smartphones.
In recent news, Vantiv, a provider of payment strategies and technology for financial institutions and businesses worldwide, and Paydiant have launched a contactless mobile wallet and payment platform dubbed Vantiv Mobile Wallet that is set to enable merchants and financial institutions to deploy mobile payment and ad/offer campaigns for their customers.
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