Abstract: A method and a system for processing a transaction in a distributed electronic payment system are disclosed. The system comprises at least one point of sale terminal and at least one customer mobile terminal, each being respectively configured to communicate with at least one host terminal over a network. A machine-readable unique identifier of the at least one point of sale terminal is read by the at least one customer mobile terminal. At each of the at least one point of sale terminal and the at least one customer mobile terminal, a respective transaction request message is encoded and communicated to the at least one host terminal, which includes the unique identifier. At the least one host terminal, the respective transaction request messages are matched with the unique identifier and a payment request message is encoded and communicated to the at least one customer mobile terminal.

Abstract: A method and a system for processing a transaction in a distributed electronic payment system are disclosed. The system comprises at least one point of sale terminal and at least one customer mobile terminal, each being respectively configured to communicate with at least one host terminal over a network. A machine-readable unique identifier of the at least one point of sale terminal is read by the at least one customer mobile terminal. At each of the at least one point of sale terminal and the at least one customer mobile terminal, a respective transaction request message is encoded and communicated to the at least one host terminal, which includes the unique identifier. At the least one host terminal, the respective transaction request messages are matched with the unique identifier and a payment request message is encoded and communicated to the at least one customer mobile terminal.