Abstract: A system and method for conducting payment transaction using a mobile device equipped with a NFC interrogator, comprising: creating a payer user account in a server and associating a payer mobile device with the payer user account; registering, by the server, a payee NFC identity tag; recording, by the server, a payment transaction and associating the payment transaction record to the payee NFC identity tag; interrogating the payee NFC identity tag by the payer mobile device; transmitting the acquired identifier of the payee NFC identity tag to the server; matching the received identifier to the associated payment transaction record; retrieving and sending to the payer mobile device the matched associated payment transaction information; displaying the payment transaction information in the payer mobile device for user confirmation; transmitting the confirmed information and the payer mobile device identification data to the server to complete the payment transaction.

Abstract: A clone attack on the security of the mobile payment system occurs when a transaction is conducted from more than one mobile communication device for a user account, or when the data communication within the transaction is transmitted from more than one mobile communication device or from a mobile communication device other than the mobile communication device that was registered initially. The presently claimed clone defense method and system employ a first counter in each data communication message, a second counter at the sending end, and a third counter at the receiving end. By incrementing the counters when sending and receiving the data communication messages and matching the counters at the receiving end, clone attacks can be detected.

Abstract: A method for resolving disputes arising from failed and incomplete payment transactions conducted over a mobile communication infrastructure, comprising generating, by a central processing server, a key and a dispute code using the key and a payment transaction status; receiving, by a payer user device, the dispute code; receiving, by a payee user device, the key; updating, by the central processing server, the dispute code with updated payment transaction status when the payment transaction is completed; receiving, by the payer user device, the updated dispute code; entering into the payee user device the updated dispute code received by the payer user device; generating, by the payee user device, a verifying dispute code using the key and one of the one or more preset status codes; and verifying, by the payee user device, the updated dispute code by comparing the updated dispute code to the verifying dispute code generated.

Abstract: A system and method for conducting secure payment using mobile communication devices, comprising: creating a first user account and a second user account in a central processing server, wherein the first user account creation comprises pairing a first mobile communication device with the first user account; generating, by the central processing server or a second device, a QR code for the second user; optically capturing and decoding the QR code by the first mobile communication device; transmitting the decoded information along with a security PIN provided by the first user to the central processing server upon user verification and confirmation; upon the successful authentication of the first user, transferring funds from the first user account to the second user account; and sending, by the central processing server, to the first user and the second user a notification of the result of the funds transfer.