Specifications

The Patent Office Journal 17/12/2010
4482
(12) PATENT APPLICATION PUBLICATION (21) Application No.102/MUM/2009 A
(19) INDIA
(22) Date of filing of Application :16/01/2009 (43) Publication Date : 17/12/2010
(54) Title of the invention : A SYSTEM AND METHOD FOR CARRYING OUT A FINANCIAL TRANSACTION
(51) International classification
:G06F21/20;
G06Q20/00;
H04L9/32
(31) Priority Document No :NA
(32) Priority Date :NA
(33) Name of priority country :NA
(86) International Application No
Filing Date
:NA
:NA
(87) International Publication No :N/A
(61) Patent of Addition to Application Number
Filing Date
:NA
:NA
(62) Divisional to Application Number
Filing Date
:NA
:NA
(71)Name of Applicant :
1)MCHEK INDIA PAYMENT SYSTEMS PVT LTD
Address of Applicant :A 102 DELPHI HIRANANDANI
BUSINESS PARK POWAI, MUMBAI 400076. Maharashtra
India
(72)Name of Inventor :
1)TAMAL DAS
2)VALERIE ROZYCKI
(57) Abstract :
A method of processing a financial transaction between a first and second entity over a communication network including a mobile
network transaction system is disclosed. The method includes registering the first entity and the second entity in a user database of the
mobile network transaction system, wherein registering the first entity includes generating for the first entity a user identity and a
personal identification number to validate the user identity; and further includes registering for the first entity a financial instrument
and linking the financial instrument to the user identity; and wherein registering the second entity includes registering a mobile
communication identifier for the second entity and further includes registering a financial instrument for the second entity and linking
the financial instrument to me mobile communication identifier; receiving details of the financial transaction to be processed between
the first entity and the second entity, the details including user identity for the first entity, receiving the personal identification number
of the first entity and validating the financial transaction on receiving a valid response; transmitting to a payment gateway of the
financial instrument of the first entity details of the validated transaction and details of the financial instrument for the second entity. A
system for processing a financial transaction is also disclosed.
No. of Pages : 26 No. of Claims : 20