Objective

The objective of this invention is the creation of a new digital credit card transaction process that works on all smartphones today, without technology barriers like proprietary NFC protocols, which only work on one vendor's phones. This invention integrates seamlessly into existing credit card processing systems without any change between the seller’s existing POS System and their Credit Card Provider or Gateway.

Overview

PayLive is a new process invention, a digital payment system based around card payments that are made through the use of a modern smartphone. The PayLive technology is smartphone agnostic. It does not care what technology or brand of smartphone the buyer uses. The reference to "cards" or credit cards always means credit, debit, prepaid, store cards, and gift cards.

The buyer stands at the sales counter with a product or service to pay with a credit card. They start the PayLive App on their smartphone. In most cases the buyer has previously designated a default card or has only added one card to use for making payments. The buyer simply holds their phone over the seller's terminal to read the QR Code and the payment is completed.

If the buyer has added more than one card and not designated a default card, the PayLive App displays a graphical wallet of available credit cards for use. The buyer selects one to use for this purchase. The buyer now holds their phone over the seller's terminal to read the QR Code and the payment is completed.

The PayLive App completely facilitates the processing of the buyer’s credit card transaction on their smartphone, communicating with the seller's credit card terminal to complete the payment, within seconds.

For larger purchase amounts the buyer may be asked to provide their signature or enter their debit card PIN on the phone. The transaction ends with the amount of the sale displayed on the buyer’s phone, and optionally, a purchase receipt either printed by the seller or sent to the buyer’s email address.