Abstract: A process includes receiving a message containing an a priori funding source selection for a payment service used to conduct a purchase transaction that is sent via SMS from a purchaser. The process also includes receiving a request to transfer funds to the merchant on behalf of the purchaser that is sent from a device associated with a merchant. The process also includes completing the purchase transaction. The funds transferred to the merchant on behalf of the purchaser are taken from a funding source selected by the a priori funding source selection. The a priori funding source selection is stored so as to apply to all future transactions conducted by the purchaser using the payment service until the server device receives a second a priori funding source selection from the purchaser.

Abstract: Processes are disclosed to facilitate the verification and registration of users of a payment service. One process includes receiving an intent to register message from a user via an SMS message sent from a user mobile device. The process also includes sending a query message to the user mobile device. The query message includes a request for a government identification number from the user. The process also includes verifying the government identification number against a collection of data entries provided by a third party. The process also includes sending a temporary validation code to the user mobile device. The process also includes receiving an updated PIN from a known POS terminal. The known POS terminal was previously registered with the payment service. The updated PIN replaces the temporary validation code. The process also includes sending a registration confirmation to the user mobile device. Other related processes are also disclosed herein.

Abstract: A system and method of transaction processing is provided. The system includes a central server, which, after receiving transaction and recipient information from an initiator, sends a verification code to the initiator. The server also sends instructions for the initiator to send the code to a recipient via an outside communication channel. The server receives the verification code from the recipient, and verifies the transaction. In this manner, security may be maintained.

Abstract: In one embodiment the present invention includes a payment system for a commercial transaction. The payment system includes an account server that a consumer accesses using the consumer's mobile telephone number. The account server updates the consumer's account and the merchant's account according to the transaction. The account server sends a confirmation directly to the consumer's mobile telephone.