List of patents
System and method For Real-time Generation Of Payment Slip
- Mrs Swarna Kumari Adari
- Mrs Swarna Kumari Adari
- IN201741027850
- India
- no
- IT
- 04/08/2017
- listing
- Presently existing process of engaging in cash/cashless transaction at a shopping mall/retail shop, (which may include waiting in line for bill, bill receipt, cash transaction, interacting with the cashier, performing transaction after insertion of card and OTP etc.) is increasingly viewed by financial institution customers as burdensome, time-consuming, and inefficient. It is cumbersome to carry debit/credit cards and keeping such cards safe and also recalling/remembering passwords cause inconvenience in use and raise transaction security issues. Many users still have older cell phones that do not run Android or Apple software. The high cost of smart phones limits their acceptance in cost-sensitive foreign markets and among cost-sensitive customers. The present system Generates in real-time POS/Merchant payment slips, on mobile phone, through Short Message Service (SMS) or Mobile/Internet banking or ATM. >Cardless transaction at the POS using portable devices, such as mobile phone or tablets or computer. >Paying the bills using a real time generated receipts through SMS/Mobile application or internet banking. >Generates of bill payment slip using a computing device. >Perform a transaction at the POS through a short message service (SMS) of a pre-determined format. >Perform cardless transaction at the POS based on SMS and OTP generation. >Performs a transaction at the POS with or without POS codes.
Abstract
The present disclosure relates to mobile payment systems and in particular to a system and method for using standard mobile phones to enable payment at a merchant’s system. The present invention provides a new, technically advanced and improved system and method that uses standard mobile phones to enable payment at a merchant’s Point-Of-Sale (POS) system. Further the system and method enables to generate POS/Merchant payment slips in real-time, on mobile phone, through Short Message Service (SMS) /Mobile/Internet banking/ATM.
