WO2014170741A3 - Payback payment system and method to facilitate the same - Google Patents

Payback payment system and method to facilitate the same Download PDF

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Publication number
WO2014170741A3
WO2014170741A3 PCT/IB2014/000556 IB2014000556W WO2014170741A3 WO 2014170741 A3 WO2014170741 A3 WO 2014170741A3 IB 2014000556 W IB2014000556 W IB 2014000556W WO 2014170741 A3 WO2014170741 A3 WO 2014170741A3
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WO
WIPO (PCT)
Prior art keywords
payback
customer
currency
payment
shopkeepers
Prior art date
Application number
PCT/IB2014/000556
Other languages
French (fr)
Other versions
WO2014170741A2 (en
Inventor
Mahesh Bhupathi PARDHASARTHY
Original Assignee
Pardhasarthy Mahesh Bhupathi
Priority date (The priority date is an assumption and is not a legal conclusion. Google has not performed a legal analysis and makes no representation as to the accuracy of the date listed.)
Filing date
Publication date
Application filed by Pardhasarthy Mahesh Bhupathi filed Critical Pardhasarthy Mahesh Bhupathi
Publication of WO2014170741A2 publication Critical patent/WO2014170741A2/en
Publication of WO2014170741A3 publication Critical patent/WO2014170741A3/en

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Classifications

    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/30—Payment architectures, schemes or protocols characterised by the use of specific devices or networks
    • G06Q20/32—Payment architectures, schemes or protocols characterised by the use of specific devices or networks using wireless devices
    • G06Q20/327—Short range or proximity payments by means of M-devices
    • G06Q20/3278—RFID or NFC payments by means of M-devices
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q10/00—Administration; Management
    • G06Q10/08—Logistics, e.g. warehousing, loading or distribution; Inventory or stock management
    • G06Q10/083—Shipping
    • G06Q10/0837—Return transactions

Abstract

This invention relates to method and/or system for processing payback payment using digital version of a particular currency, in this case - Rupee. Payback payment (PP) is part of a payment settlement process by which shopkeepers can pay back the remaining balance amounts to the customers digitally in a scenario when customer pays bigger denomination of the currency than the billed amount. The invention also describes a system/method by which, a specially designed point of sale (POS) terminal communicates with a customer's communication device using a customer-specific recognition element/tag to perform a payment settlement process. All the customers and shopkeepers will follow a certain registration process to obtain a user account which can be credited with digital currency. The shopkeepers can use this digital currency to perform payback payments to settle any transaction and/or to redeem customer's user account with digital currency. On the other hand customers can use the digital currency to perform transactions ranging from 1 Rupee to 10000/- Rupees.
PCT/IB2014/000556 2013-04-15 2014-04-15 Payback payment system and method to facilitate the same WO2014170741A2 (en)

Applications Claiming Priority (2)

Application Number Priority Date Filing Date Title
IN1669CH2013 2013-04-15
IN1669/CHE/2013 2013-04-15

Publications (2)

Publication Number Publication Date
WO2014170741A2 WO2014170741A2 (en) 2014-10-23
WO2014170741A3 true WO2014170741A3 (en) 2015-02-19

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Family Applications (1)

Application Number Title Priority Date Filing Date
PCT/IB2014/000556 WO2014170741A2 (en) 2013-04-15 2014-04-15 Payback payment system and method to facilitate the same

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WO (1) WO2014170741A2 (en)

Cited By (1)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
CN108335103A (en) * 2017-12-28 2018-07-27 中国人民银行数字货币研究所 A kind of deducting money method and system based on digital cash

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Publication number Priority date Publication date Assignee Title
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CN108335103B (en) * 2017-12-28 2021-06-11 中国人民银行数字货币研究所 Deduction method and system based on digital currency

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