Patent attributes
A system allows for conducting the financial and commercial (buying, selling, donating, gifting and paying) transactions that leverage communication devices to avoid the disclosure of a user's payment information. The payee (seller, seller's agent, receiver of funds, etc.) provides information or a token to the payer (buyer, buyer's agent, or any other provider of funds) who then directs funds to that token. In other words, rather than the payer providing information that is used by the payee to “pull” funds from the payer, the system allows a payee to provide information to which a payer “pushes” a payment. Since the payment is “pushed” by a customer, and often, but not always, using some type of a communication and/or computing device, the point-of-sale (POS) terminal has essentially been transferred from the merchant to the customer.
