ENTRIES TAGGED "iWallet"
iWallet may arrive yet, PayPal's new partnerships prepare for launch, and mobile payments hit fast food.
iPhone patent application focused on “a method for conducting a financial transaction”
The US Patent & Trademark Office published a new patent application from Apple this week that indicates potential advancement on the iWallet mobile payment front. Jack Purcher at Patently Apple dug in to find what set this patent application apart from other iWallet patent applications previously filed and found that this application “focused on ‘A method for conducting a financial transaction‘” (emphasis is Purcher’s).
Purcher pulled out 14 specific claims in the patent related to conducting a financial transaction. The first not only describes how the transaction will take place, but indicates near field communication (NFC) could be accommodated:
“1. A method for conducting a financial transaction comprising: taking a picture of a first code displayed on a transaction terminal using a camera of a portable electronic device; and sending data from the portable electronic device to the transaction terminal to conduct the financial transaction with the transaction terminal using a near field communication channel or another wireless communication channel, or both, wherein the data is derived from the first code to enable the transaction terminal to verify that the portable electronic device is physically located near the transaction terminal.”
A new app lets you make an elegant exit, Square hails a cab and iWallet gets closer.
Tabbed Out pays the bill even if you leave the bar. Also, Square takes a ride in NYC taxis and an iWallet patent appears. (Commerce Weekly is produced as part of a partnership between O'Reilly and PayPal.)