METHOD AND PORTABLE APPARATUS FOR SETTLING TRANSACTION

• Main Authors: HWANG QUE MIN, WOO HEE GU, PARK KYUNG YANG, JUNG BONG SUNG, JUNG HOON JOON, KANG BOG HEUI, CHANG KWANG SU, KIM DO HA, SUNG KWANG HYUN, KIM WON DONG, KIM CHUL KI, CHO EUN SANG, KIM DAE YEON
• Format: Patent
• Language: English
• Published: 01.10.2009
• Subjects: BOTTLES, JARS OR SIMILAR CONTAINERS; CALCULATING; CHECKING-DEVICES; COIN-FREED OR LIKE APPARATUS; COMPUTING; COUNTING; DATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FORADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORYOR FORECASTING PURPOSES; DISPENSING, DELIVERING OR TRANSFERRING LIQUIDS, NOT OTHERWISEPROVIDED FOR; ELECTRIC COMMUNICATION TECHNIQUE; ELECTRICITY; FARE-REGISTERING APPARATUS; FRANKING APPARATUS; HANDLING RECORD CARRIERS; LIQUID HANDLING; OPENING, CLOSING; PERFORMING OPERATIONS; PHYSICS; PRESENTATION OF DATA; RECOGNITION OF DATA; RECORD CARRIERS; REGISTERING THE RECEIPT OF CASH, VALUABLES, OR TOKENS; SELECTING; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE,COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTINGPURPOSES, NOT OTHERWISE PROVIDED FOR; TELEPHONIC COMMUNICATION; TICKET-ISSUING APPARATUS; TRANSMISSION OF DIGITAL INFORMATION, e.g. TELEGRAPHICCOMMUNICATION; TRANSPORTING

A method and portable apparatus for settling a transaction are provided, in which the portable apparatus may be used as a card substitute payment device for settling a transaction. Information to conduct a settlement may be stored in the portable apparatus. The portable apparatus may be, for example, a portable phone or a PDA. A transaction inquiry machine may read or receive the information from the portable apparatus, similar to that of a card reader reading a magnetic card, and transmit the information to a VAN company server or a card company server, to then request for an approval to settle the transaction.