DIGITAL WALLETS

A digital wallet, also known as a "mobile wallet", is an electronic device (e.g. cell phone or personal electronic device) or software that allows one party (purchaser) to make wireless financial transactions with another party (seller) for either goods or services. This can include purchasing items on-line with a computer or using a smartphone to purchase anything from physical to digital assets. Money (e.g. central bank digital currencies, digital dollars, cryptocurrencies, tokens, digital coins or cash) and/or private keys (i.e. for cryptocurrencies) can be deposited in the digital wallet prior to any transactions or, in other cases, an individual's bank account can be linked to the digital wallet. The credentials can be passed from the purchaser to the seller using terminal wirelessly via near field communication (NFC).

Our company has the exclusive license for U.S. Patent No. 8,214,298, focused on systems and methods for performing wireless financial transactions. This exclusive license spans all types of financial transactions using wireless devices from buyers to sellers, including but not limited to digital wallets. Financial transactions can include any type of consumer goods and services, cash, and currencies exchanges or transfers, financially regulated securities products (e.g., stock, bonds, mutual funds, exchange traded funds/ETFs, IRAs, 401Ks retirement plans, insurance, etc.) and all new classes of digital assets (e.g., cryptocurrencies, stable value coins, non-fungible tokens, carbon credits, etc.).

The wide-ranging technology usage of these financial transactions can vary from the use of cell phone apps to NFC technology to the use of more conventional online-client server methods. In some instances, buyers and sellers may conduct financial transactions via intermediary communication network, such as the Internet, rather than cellular communication or they may connect to a website using enterprise software.

Exclusive License:

U.S. Patent No. 8,214,298, focused on systems and methods for performing wireless financial transactions.

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EXPERIENCED-BASED SPENDING ASSISTANT

Buyers, Sellers and Supporting Financial Organizations

Consumer Goods, Services, Financial Products and Digital Money and Digital Assets

Individuals, Retailers, Banks, Trading Platforms, etc.

Consumer Goods, Services, Financial Products and Digital Money and Digital Assets

Cryptocurrencies, Equities, Bonds, Mutual Funds, ETFs, 401K, IRA, etc.

Wireless Personal Electronic Devices (PEDs)

Consumer Goods, Services, Financial Products and Digital Money and Digital Assets

Wireless Personal Electronic Devices (PEDs)

Cell Phones, Smart Watches, POS, Laptops, Tablets, Desk Tops, etc.

Networks & Communication Channels

Wireless Personal Electronic Devices (PEDs)

Cellular, NFC, Private, Public, Internet, etc.

Peer-to- Peer (P2P)

Networks & Communication Channels

Peer-to- Peer (P2P)

Digital Wallets, Payment, Cash Apps, etc.

Enhanced Security

Networks & Communication Channels

Peer-to- Peer (P2P)

Digital Signatures Capabilities, Hashing, Secure Keys, Encryption, etc.

Frequently Asked Questions:

What are Digital Wallets?

Digital wallets let buyers connect with sellers using wireless and/or near-field communications (NFC) channels to undertake financial transactions using smartphones, tablets, wearables and more.

What is a Financial Transaction?

A financial transaction is an agreement, or communication carried out between a buyer and a seller to exchange an asset for payment. It involves a change in the status of the finances of two or more businesses or individuals. The buyer and seller are separate entities or objects, often involving the exchange of items of value, such as information, goods, services and money. It is still a transaction if the goods are exchanged at one time, and the money at another. This is known as a two-part transaction: part one is giving the money, part two is receiving the goods.

Who is Involved in a Financial Transaction?

The buyer and seller are separate entities or objects, often involving the exchange of items of value, such as information, goods, services and money. It is still a transaction if the goods are exchanged at one time, and the money at another. This is known as a two-part transaction: part one is giving the money, part two is receiving the goods.

How Does a Financial Transaction Work?

A financial transaction always involves one or more financial asset. Either buyer or seller can initiate such a transaction, hence one is the originator/initiator and the other is the responder. From liquidity point of view, one is the liquidity provider, the other party is the liquidity consumer. The liquidity provider is also called offer and the liquidity consumer is also called taker. While bidder and asker are much more confusing. Some people use both bid & ask for liquidity provision, while some other people use offer & ask for liquidity provision.

What Financial Processes and Functions are Covered?

Financial transactions processes, functions and methods cover the buying, selling, trading, as well as all other functions and processes of the products/services involved (e.g., the administration, accounting, custody, etc.).

What is a Personal Electronic Device?

Personal Electronic Devices (PEDs) include but are not limited to handheld computing platforms (e.g., cell phones, smartphones), wrist-worn computing systems (e.g. smart digital watches), or other mobile computing systems (e.g., tablets, laptops). Moreover, a PED may be any mobile computing device used by a user and capable of communication using a cellular wireless communication channel.

What Technologies do Buyers and Sellers Use to Conduct Financial Transactions?

Byers and sellers may conduct financial transactions via an intermediary communication network such as the Internet, use cellular communication channels or near-field communication (NFC).

DIGITAL WALLETS

Exclusive License:

EXPERIENCED-BASED SPENDING ASSISTANT

Buyers, Sellers and Supporting Financial Organizations

Consumer Goods, Services, Financial Products and Digital Money and Digital Assets

Consumer Goods, Services, Financial Products and Digital Money and Digital Assets

Consumer Goods, Services, Financial Products and Digital Money and Digital Assets

Consumer Goods, Services, Financial Products and Digital Money and Digital Assets

Consumer Goods, Services, Financial Products and Digital Money and Digital Assets

Wireless Personal Electronic Devices (PEDs)

Consumer Goods, Services, Financial Products and Digital Money and Digital Assets

Wireless Personal Electronic Devices (PEDs)

Networks & Communication Channels

Networks & Communication Channels

Wireless Personal Electronic Devices (PEDs)

Peer-to- Peer (P2P)

Networks & Communication Channels

Peer-to- Peer (P2P)

Enhanced Security

Networks & Communication Channels

Peer-to- Peer (P2P)

Frequently Asked Questions:

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