System and method for value creation

Details System and method for value creation System and method for value creation

2007-05-08

2007-05-08

Ho Lee, Seung (Department: 2876)

Registers

Systems controlled by data bearing records

C705S014270

Reexamination Certificate

active

11011720

ABSTRACT:
There is disclosed a system and method for creating value by facilitating third party participation in mobile commerce transactions, providing consumers with a unified perspective of commercial activity, and selectively implementing discounts. The system may include a computerized engine and a point of sale wallet, which may be embedded in a personal trusted device. The computerized engine may be programmed to selectively implement a discount associated with a particular transaction. The personal trusted device may comprise a wireless communications technology, which enables the device to communicate with a back-end system and/or other point of sale devices. The personal trusted device may serve as the nexus of consumer transactions by facilitating payment as well as receipt and storage of electronic receipts. The personal trusted device may also be configured to transmit electronic receipts via the communications technology.

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