REAL-TIME ELECTRONIC CHEQUE ISSUE SYSTEM FOR MONEY TRANSFER, PAYMENT AND MANAGEMENT

摘要

This invention discloses an e-cheque issuing system for money transfer between a payer and a payee without using internet. The system includes user- end-system and processing system. The user-end-system comprises magnetic stripe or smart card, magnetic-stripe or smart card reader, transaction platform and e-cheque book system. The processing system comprises a cellular network, interconnected bank server and e-cheque processing server. The payer connects his card reader to a transaction platform, which is a smartphone or a smartphone integrated into ATM. A payer raises an e-cheque from transaction platform. The e-cheque is verified by the e-cheque processing server. Once the payee receives the e-cheque via SMS or offline, the e-cheque book system in his/her smartphone breaks and writes the code into the non-volatile memory of the payee's reader. The user is able to carry the code anywhere and make money transfers and payments with ease and without using internet connection.