Importance

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Abstract

A mobile funds transaction device for transferring funds between one bank account or credit facility and another bank account or credit facility, the device having: a card reader device; a PINpad device with an encryption system; a modem device; a communication interface device connected with the modem device; an output report device; a wireless communication device; and a central processing device (CPU) to which are connected the above-listed devices. The CPU is programmed to store merchant identifying data of the owner/leasee of the device and to activate the PINpad device so a user can enter confidential identifying information to the CPU. The user then activates a communication connection via the modem device and the interface device to transmit the stored user entered data as well as transmit the merchant identifying data of the owner/leasee of the device, so that funds can be transferred from the user's bank account or credit or debit card to the owner/leasee's bank account or vice versa and to provide signals to the output report device confirming the transaction or other information relating to the transaction

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First Claim