WO2013057540A1

WO2013057540A1 - Cash peer

Info

Publication number: WO2013057540A1
Application number: PCT/IB2011/054649
Authority: WO
Inventors: Abou Firass El Abbassi SERIDI
Original assignee: Seridi Abou Firass El Abbassi
Priority date: 2011-10-19
Filing date: 2011-10-19
Publication date: 2013-04-25

Abstract

Cash Peer involves the intervention of Peers wherein a Peer is a member of the group of people in society who have access to a computer in general and to a smartphone or a tablet in particular. It is a payment system and a process allowing sending and receiving payments with Clients which are systems that access a service made available by a server. Clients are represented by data and GPS (i.e. Global Positioning System) enabled devices connected to the Internet, comprising peripherals for text and QR code (i.e. tow- dimensional quick response barcode) input, a monitor and a sufficient memory to perform these tasks. To execute every transaction two Clients must be in process, a Client-payer and a Client-recipient. Money is sent and received, by way of Clients connected to a remote server via logon to a secure website. The server plays the role of a payment coordination and execution centre. Cash Peer offers an unprecedented substitute for cash money, unlike other known transaction processes; it permits to a Peer-payer to actively write an exact amount of money and deliver it to a Peer-recipient instantly or deferred from the moment of money writing, yet with instant payment processing, in the form of a QR code, condition that the Peer-recipient is duly informed of the payment and able to receive it. Smartphones and tablets fully qualify to be designated Clients, hence able to make and receive payments. They are considered the default use of the process, wherein their tasks are: (a) determine GPS coordinates (b) exchange data with server via the internet, (c) scan QR codes and (d) display QR codes and webpages on monitor. Moreover, as an exceptional usage, the Client-payer function can be operated by PCs (i.e. personal computers) in which case called Blind-Clients or by monitors (displays) and paper medium in which case called Sub-Clients.

Description

CASH PEER

TECHNICAL FIELD

Actual state of the art technology capable to carry out Cash Peer system is the smartphone and the tablet technology, more generally this invention relates to any data and GPS enabled device connected to the Internet, comprising peripherals for text and QR code input, a monitor and a sufficient memory to perform these tasks. The system in itself is a financial data exchange process wherein QR code is a payment instrument along with a data encryption and delivery method using a computing system related to Financial Networks with Electronic Transactions.

BACKGROUND OF THE INVENTION

A mobile ATM (i.e. Automatic Teller Machine) locatable and delivering exact amount of cash money on demand is the inception of Cash Peer system. Chronologically, three main payment instruments have been used at POS (i.e. point of sale) to conclude financial transactions between individuals and businesses. Firstly, usual cash money, metallic coins and bank notes are enforceable at POS but large amounts are difficult to carry and expose one to all the risk. Secondly, checks, usually a piece of paper that orders a payment of money from the bank account of the person writing the check (the drawer), where the advantage of the check is ease of carriage and transport and one can decide to draw whatever amount of money he/she likes; the disadvantage is that at POS the drawer is under the condition of whether the beneficiary (i.e. recipient of the check) is going to bear risk and time of check processing by accepting it. Lastly, credit cards are getting outdated by today's technology standards in matters of security, time of payment processing and cost of service.

Cash Peer is a valid alternative to bank notes, checks and credit cards. Indeed the term Cash Peer was not chosen by chance; beyond being an alternative for checks and credit cards, it is a perfect substitute for cash money in every sense or a new form of it with regards to its functions and characteristics detailed below. One major characteristic is the instantaneous payment processing, offering in addition minimum risk at minimum cost. In general fact, the cost of insurance of an average Client will be in all cases lower than a subscription to a checkbook or a credit card; hence, bearing the risk of losing a Client (e.g. smartphone) is similar to the risk of losing less than fifty US dollars.

It is not a secret that banks, more generally the financial system, are studying opportunities to implement mBanking (i.e. mobile banking) or mPayments (i.e. mobile payments), foreseen to be the next generation payment system that will accompany changes occurred on habits and behaviors that appeared alongside with the rise of the mobile era. Yet systems we have seen to date are still in their testing phase and do not offer a real alternative to cash money with regards to universality and tangibility (e.g. Near Field Communication Payments). Cash Peer is meant to be a payment solution fully transposable to cash money not only by being a payment instrument but also by mimicking the behavior of payers and recipients during cash money transactions. SUMMARY OF THE INVENTION

Cash Peer gives a payer the ability to write an exact amount of money, display it encrypted in the form of a QR code and deliver it instantly to a recipient duly informed of the transaction and consenting to it. A Payer and a recipient must be Peers to conclude a transaction in which actors are a Peer-payer and a Peer-recipient both holding Clients, respectively a Client-payer and a Client-recipient which are usual smartphones or tablets in general or any data and GPS enabled device connected to the Internet, comprising peripherals for text and QR code input, a monitor and a sufficient memory to perform these tasks. A typical transaction is opened on the one hand by a Peer-payer who displays QR code on Client monitor (i.e. smartphone monitor or tablet monitor) and closed on the other hand by a Peer-recipient who scans the QR code with his/her Client. Nonetheless a Peer-payer can displays QR code on computer monitor or on monitor (separately) or send QR code's image file format by email or else simply print it out with printer or send it by fax to a Peer-recipient. However money in all cases is displayed or printed out in the form of a QR code. Hence Cash Peer offers the possibility for a Peer-payer to pay in default mode by means of a smartphone or a tablet (default) or in a blind mode with a Blind-Client (i.e. PC) or else in sub mode with a Sub-Client (i.e. monitor or a paper medium). Blind and Sub Clients can only be Clients-payer and act as such, on the other hand a Client-recipient must be a smartphone or a tablet or any other data and GPS enabled device connected to the Internet, comprising peripherals for text and QR code input, a monitor and a sufficient memory to perform these tasks. Moreover a transaction can be immediate or deferred; the difference between these two types of transactions is the time lapse between the moment of QR code issuance and the moment of its scanning, however this difference does not impact the instantaneity of the payment processing. In immediate transactions the Peer-payer has to be in presence of the Peer recipient, at time of QR code issuance because he/she has to present the QR code for scanning to the Peer- recipient immediately or within a very short time frame and both Clients, payer and recipient must be connected to the internet. On the contrary, in deferred transactions the Peer-payer first issues the QR code while connected to the internet and presents it later on to a Peer-recipient, after the expiry of a long period of time relatively and without the need to be connected to the Internet. Consequently a Blind-Client can operate both immediate and deferred transactions whereas a Sub-Client can only operate deferred transactions.

BRIEF DESCRIPTION OF THE DRAWINGS

FIG. 1 is a block diagram of fourteen non restrictive methods of use of Cash Peer in default, blind and sub modes wherein SP is smartphone, T is tablet, L is laptop computer,

D is desktop computer, P is printer, F is fax and M is monitor.

FIG. 2 is a flow diagram of the sign up to Cash Peer website procedure.

FIG. 3 describes the main elements showed by Account and transaction Webpages for

Peer-payer and Peer-recipient for different types of transactions.

FIG. 4A illustrates the general principle of QR code usage in the payment process.

FIG. 4B illustrates alphanumerical elements composing a QR code of symbol version 4.

FIG. 5 is a flow diagram of immediate transaction processing handled by default Clients.

FIG. 6 is a flow diagram describing key elements of deferred transaction processing. DETAILED DESCRIPTION OF THE INVENTION

Cash Peer is a service made available to Peers by a client-server system enabling them to conclude financial transactions or pay and receive money by means of their Clients in a way transposable to cash payments. A Client by definition is a data and GPS enabled device connected to the Internet, comprising peripherals for text and QR code input, a monitor and a sufficient memory to perform these tasks, as such smartphones and tablets are Clients by default, fully capable to send and receive payments, as opposed to less enabled Clients which can only be Clients-payer and perform transaction under certain conditions due to their lack of full capabilities. Clients connect to, and exchange data with Cash Peer server (the Server) via the internet, determine GPS coordinates, scan QR codes and display them with webpages on monitor. This applies for smartphones and tablets with regards to their components and to any data and GPS enabled device connected to the Internet, comprising peripherals for text and QR code input, a monitor and a sufficient memory to perform these tasks. Hence a PC is considered a Blind-Client given its lack of ability to determine GPS coordinates and scan QR codes; nonetheless it has the capacity to display QR codes and connect to the Server. Moreover, a monitor and a paper medium can only display QR codes and thus they are considered Sub-Clients. According to today's technology FIG. 1, fourteen non restrictive methods emerge as possible manners to use Cash Peer in default mode 10 on the one hand and in blind and sub modes 11 on the other; smartphone to smartphone 10a, smartphone to tablet 10b, tablet to tablet 10c, tablet to smartphone lOd, laptop PC to smartphone 11a, laptop PC to tablet lib, desktop PC to smartphone 11c, desktop PC to tablet lid, printer (paper) to smartphone lie, printer (paper) to tablet llf, fax (paper) to smartphone llg, fax (paper) to tablet llh, monitor (separately) to smartphone Hi, monitor (separately) to tablet llj. In this context Clients-payer, Clients-recipient and PC's all connect to the Server at time of payment processing, while a paper Sub-Client and QR code's images displayed on monitor cannot connect to the Server.

To operate Cash Peer process both Peers must logon to Cash Peer's website (the Website). Logon to the Website connects Clients with the Server wherein the same Client can be a Client-payer or a Client-recipient but only for separate transactions, hence never at the same time. Referring to FIG. 2, Initial logon to the Website is obtained by a sign up 20 to a webform on Cash Peer's webpage (Webpage) in which a Peer registers his/her personal details, address details and provides a valid email address to create account. The sign up procedure commands the Server to send to the email address provided a Peer ID, a password and an activation link 21. Clicking on the link opens a new webform to set Cash Peer account (the Account) up 22. The Peer then enters his/her deposit account (e.g bank account) details and chooses a PIN code 23 to activate the Account 24; returning Peers log on to their Account by entering Peer ID and password.

Upon logon FIG. 3, a Peer chooses to be a Peer-payer or Peer-recipient for a given transaction, the Account Webpage shows, among other elements, two main icons (links), PAY 30 and RECEIVE 31. Evidently by clicking or taping PAY the Peer chooses to be a Peer-payer, on the other hand by clicking or taping RECEIVE the peer chooses to be a Peer-Recipient. As mentioned above, there are 3 modes to use Cash Peer system, default blind and sub modes. Moreover, in blind and sub modes two types of transactions can be concluded, immediate and deferred transaction types. Consequently, clicking or taping PAY on Account Webpage opens a Peer-payer Webpage showing tow main icons, PAY NOW 32 and PAY LATER 33 allowing the Peer-payer to choose an immediate or a deferred type of transaction. Similarly, the Peer-recipient has to choose between receiving an immediate transaction or a delayed transaction, clicking or taping RECEIVE 31 opens a Webpage showing tow main icons, RECEIVE NOW 34 and RECEIVE DELAYED 35 allowing the Peer- recipient to choose between scanning a QR code displayed by the Client-payer at transaction time or a QR code that has been issued earlier to transaction time, displayed on monitor or printed out on paper. Clicking or taping on PAY NOW 32, PAY LATER 33 and RECEIVE NOW 34 by Peer opens a transaction Webpage showing tow main icons, a space to enter the amount of money to be paid or received 36 and a confirmation icon, CONFIRM 37. On the other hand clicking or taping RECIVE DELAYED 35 by the Peer-recipient opens a transaction Webpage showing three main icons, a space to enter the amount of money to be paid or received 38, a space to enter the numerical signature 39, and a confirmation icon, CONFIRM 391.

A QR code is a registered trademark of DENSO WAVE INCORPORATED. FIG. 4A illustrates the general principle of QR code usage in the payment process. The Peer-payer by means of his/her Client (Client-payer) displays the QR code 41, generated by the Server 40, which encodes, among other elements, a transcription of the amount of money to be paid to a Peer-recipient. The Peer-recipient scans the QR code by holding his/her Client's input peripheral (i.e. camera) in front of the QR code. The Client-recipient reads the QR code 42 and sends a request for payment to the Server which, in addition to performing the action of generating the QR code, interprets it 43 and proceeds to payment 44. The symbol versions of QR code used by Cash Peer FIG. 4B is of version 4 and above, version 4 allows a maximum of 50 alphanumeric characters at H (high) level of Error Correction Capability; it encodes for each transaction for the Client-payer engaging the process, date of transaction 45, time of transaction 46, Peer ID 47, PIN code 48, GPS coordinates 49, an authentication key (e.g. 5 digits key) 491 and the amount of money to be paid 492 (e.g. 999.99). Each time a Peer-payer clicks or taps PAY NOW 32 on Client monitor, GPS coordinates are automatically determined at date and time of transaction and transmitted (along with date and time of transaction) to the Server to be enclosed in the QR code. Similarly, GPS coordinates are also calculated at date and time of transaction by Client-recipient and synchronized with the Server whether the Peer- recipient clicks or Taps RECEIVE NOW 34 or RECEIVE DELAYED 35. This is meant for QR code issuance and encryption for the Client-payer and for security and historical data purposes for both Clients. Indeed calculating GPS coordinates of Client-recipient at date and time of transaction and confronting them to the Client-payer's (already enclosed into the QR code) ensure that the Peer-payer is in presence of the Peer-recipient, both choosing immediate type of transaction. Obviously, an interval of error tolerance is permitted for seconds of GPS coordinates and seconds of time, but not for dates, hours and minutes, to cope with technical considerations given the fact that GPS coordinates do not always determine accurate location, particularly indoors and to allow a time lapse for both Peers to conclude the transaction, however this should not be longer than 59 seconds of time for example. Further, when a Peer-payer chooses PAY LATER 33 a numerical signature is issued by the Server, then sent to the Peer-payer by email, this numerical signature must be provided at payment time to the Peer-recipient who accepts to receive a QR code delayed from its issuance time by clicking or taping RECEIVE DELAYED 35, he/she will then enter the numerical signature on his Client 38 alongside with the amount of transaction 39.

At transaction time, in default mode FIG. 5, a Peer-payer already logged on with Peer ID, willing to enter into immediate transaction with a Peer-recipient clicks or taps PAY NOW 50 (see 32) enters the amount to pay on his/her Client and clicks or taps CONFIRM 51 (see 37), the Client-payer automatically calculates GPS coordinates at date and time and sends them to the Server along with the amount entered 52, the Server replies with a PIN code request 53, a pop-up Webpage appears then showing a space for PIN code input; the Peer-payer enters PIN code and clicks or taps VALID 54. The Client- payer then sends to the Server the PIN code along with a request to generate a QR code 55. The Server opens Peer-payer's Account and reads available balance. If the available balance is inferior to the entered amount of money the operation is denied and the Server replies with a denial message 58. Contrariwise, if the available balance is equal or exceeds the entered amount, the Server issues a unique (one use) authentication key, gathers it together with the elements received and Peer ID and generates a QR code 591 identifiable by a unique transaction and vice versa, comprising date, time, Peer ID, PIN code, GPS coordinates, authentication key and amount to be paid and sends the QR code to the Client-payer 592 to be displayed on its monitor on the one hand and puts it in stand by 593 internally on the other. The action of a Peer-payer holding his/her Client displaying QR code is comparable to the traditional action of holding money, a check or a credit card at payment time. At this point the Server is aware that a Peer-payer is willing to pay a certain amount of money identified by a unique QR code displayed on his/her Client and held in stand-by. The Server then, allows a short time lapse for the Peer- recipient to enter amount to be paid on his/her Client-recipient transaction Webpage (if not already done few seconds before or simultaneously with the Peer-payer) and clicks or taps CONFIRM 594 (see 34, 36 and 37). This action contacts the Server which orders to the Client-recipient to read QR code 595 and transmit it for interpretation. Upon reception of the QR code read by the Client-recipient, the Server confronts it to the QR code (codes) in stand-by 598. When finding a duplicate of QR code the Server then decrypts it 599 and orders the Client-recipient to calculate GPS coordinates at date and time and retrieve those 5990. The Server afterward confronts some of the elements constituting the QR code namely date, time, GPS coordinates and amount of money with GPS coordinates at time and date calculated by Client-recipient and the amount entered on Client-recipient 5991. Amounts, dates, hours, minutes, must be an exact match and seconds (for time and GPS coordinates) must be in range of error tolerance to execute the payment 5992. Finally, the payment processing consists of debiting the Peer-payer's Account of the due amount and crediting the Peer-recipient's Account of the same amount and updating both Account's balances 5993.

Indeed amount entered and location (i.e. GPS coordinates) at date and time are the key elements that ensure that effectively and immediate type of transaction is being concluded between a duly informed Peers consenting to enter into transaction. In other words, GPS coordinates ensure that a Peer-payer and a Peer-recipient are present at the same location agreeing to pay a certain amount for the first and to receive a certain amount for the second, because they both entered it on their Client. In that sense Cash Peer transaction is transposable to a regular cash transaction. Furthermore, a Blind-Client lacks ability to determine GPS coordinates and to scan QR codes but has the capacity to display QR codes and connect to the Server. Hence, as and only as a Client-payer, a Blind-Client usually a PC has the ability to conclude immediate transactions with a Client-recipient. The transaction is identical to the default one in all aspect but a single one, the determination of GPS coordinates for the Client-payer that is obtained by tracing the IP address (i.e. Internet Protocol address) of the Blind Client to its physical address held into the Server (since initial signup) or through a Geo IP Service (i.e. Geolocation of IP addresses).

Moreover, a Sub-Client has only the capacity to handle deferred transaction type in the presence of a Client-recipient. It could be a monitor or a piece of paper on which the QR code is displayed or printed out respectively. Nevertheless, a deferred transaction has to be initiated by a Client or a Blind-Client prior to payment time by clicking or taping PAY LATER 33; by doing so the Peer-payer receives a QR code and a numerical signature that is sent to him/her by email. Indeed at payment the Peer-payer must produce a QR code along with the numerical signature to the Peer-recipient to be entered on his/her Client-recipient 39. Technically sub modes allows payments with monitors and paper medium, practically a payment can be displayed on PC monitor offline, emailed, printed out with printer or faxed to a recipient. Referring to FIG. 6, a Peer-Payer already logged on with Peer ID by means of a default Client-payer or a PC (Blind-Client), willing to enter into a deferred transaction with a Peer-recipient clicks or taps PAY LATER 60 (see 33), enters amount and confirms 61, the Server then, similarly to default mode, upon reception of the PIN code 65 generates a QR code 66a (without enclosing GPS coordinates), sends an image file format of it to the Client-payer on the one hand and issues a numerical signature 66b which is sent by email to the Peer-payer's mailbox 66b on the other (used for creating Account); at the same time holds both QR code and numerical signature it in standby 67. Consequently the Peer-payer retrieves both QR code's image (by any manner described above) and numerical signature (from his/her mailbox). Later on when in presence of the Peer-recipient to conclude transaction (i.e. pay) the Peer-payer must provide the numerical signature to the Peer-recipient to be input on his/her Client (see 39) along side with the agreed amount of transaction 69 (see 38); by doing so the Client recipient receives order to read QR code from the Server which opens its camera. Upon reception of the QR code read by the Client-recipient 691, the Server confronts it along with the numerical signature QR code (codes) linked with a numerical signature in stand-by 692; additionally the Server orders the Client-recipient to calculate GPS coordinates at date and time 693 and retrieve them for historical data purposes. Finally, payment is executed when finding a duplicate of the QR code and the numerical signature. BEST MODE FOR CARRIYING OUT THE INVENTION

Cash Peer is intended to be a universal payment solution to be used worldwide by offering a turnkey solution for both retail and corporate mBanking but not only. The system in itself is a full software solution using the Internet as a platform, QR code technology as a process and smartphones, tablets, personal computers and paper medium as payment tools; as such, it will very likely be embedded into worldwide interbank financial communication systems by implementing data exchange protocols with bank servers and setting up architecture for control and reporting. This integration will rather be a grafting to existing financial data exchange systems such as wire transfer through banking details (i.e. bank account details) entered by Peers at signup.

Moreover, Cash Peer will be carried out as a full independent close system wherein Peers deposit money and exchange it between them, giving the unbanked the ability to use the system the same as their ability to use cash money. To do so, agents will be associated to the system; they will be in charge of supplying Accounts (i.e. Peer Accounts) in exchange of cash deposit from Peers. This solution will be more suitable for emerging economies and countries where the unbanked constitute a large segment of the population.

Claims

CLAIMS What is claimed is:

1. A payment system using a client-server system wherein,

Clients are Smart phones, tablets or any data and GPS enabled device connected to the Internet, comprising peripherals for text and QR code input, a monitor and a sufficient memory to perform these tasks.

2. The payment system of claim 1 wherein Peers use Clients to conclude financial transactions.

3. Peers of claim 2 who are members of the group of people in society who have access to a computer in general and to a smartphone or a tablet in particular.

4. The payment system of claim 1 wherein every transaction involves a Client-payer and a Client-recipient.

5. The financial transactions of claim 2 wherein each transaction involves a Peer-payer and a Peer-recipient.

6. The financial transactions of claim 2 wherein a "peer cashes peer" literally.

7. The concept of "peer cashes peer" of claim 6 also referred to as "peer-cash-peer" or "cash peer".

8. The payment system of claim 1 involving the use of QR code technology wherein money is displayed in the form of a QR code either on monitor or printed out.

9. The payment system of claim 1 wherein the system is active in the sense that the payer issues the QR code by entering the amount of transaction on his/her Client, by opposition to a passive system wherein the payer accepts the QR code by scanning or reading it by means of his/her Client.

10. The payment system of claim 1 wherein both Peers, payer and recipient are consenting to conclude a transaction and duly informed of the amount of money to be paid and received respectively, by entering it on their respective Clients

11. The payment system of claim 1 wherein a Blind- Client and Sub-Client can be used as Clients-payer to execute transactions.

12. The payment system of claim 1 wherein a Client-recipient must be a Client.

13. The Blind-Client of claim 11 which it is represented by a personal computer.

14. The Sub-Client of claim 11 which it is represented by a monitor or a paper medium.