A SYSTEM AND METHOD FOR EFFECTING A TRANSACTION USING A MOBILE COMMUNICATIONS DEVICE ASSOCIATED WITH A RECEIVER OF TRANSACTION INFORMATION

摘要

A system and method for effecting a transaction using a mobile communications device of a user who is a receiver of transaction information are provided. The method comprises receiving a data set on the mobile communications device containing metadata, transaction information, a transaction public key and a digital signature. Verifying that the transaction public key has not expired and verifying the transaction information by checking the validity of the digital signature. If the digital signature is valid, verifying that the received transaction information is uniquely associated with a sender of the transaction information and the receiver of the transaction information by verifying a transaction association value. If the transaction association value is verified then displaying the transaction information to the user, receiving a user input to approve the transaction and transmitting the transaction information from the mobile communications device to a payment system to effect the transaction.