Rfid-based system and method of conducting financial...

Details Rfid-based system and method of conducting financial... Rfid-based system and method of conducting financial...

G - Physics

06

Q

G06Q 30/06 (2012.01) G06Q 20/40 (2012.01) G01V 15/00 (2006.01) H04L 12/16 (2006.01)

Patent

CA 2465467

A RFID-based method and system for conducting a financial transaction is disclosed. The method includes the steps of: (a) communicating to a RFID reader a transaction amount for completing the financial transaction; (b) displaying the transaction amount on the RFID reader; and (c) placing a RFID tag in close proximity to the reader to communicate acceptance of the transaction by the consumer. The system includes a RFID reader capable of communicating with a RFID tag and a POS terminal. The RFID reader displays a transaction amount to the consumer. The RFID reader is capable of detecting acceptance of the transaction by the consumer when the RFID tag is placed in close proximity to the reader. The system also includes a processing system for completing the transaction which communicates with the POS terminal.

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