Abstract: A method and system for processing invoice transactions between vendors (distributors) and retailers (merchants) via mobile phone is disclosed. Each distributor has a unique vendor identifier. Each retailer has a unique identifier, typically his/her mobile phone number. An intermediary system processes payments and upon verification of account balance at retailer's bank, the intermediary system notifies the vendor bank, debits the funding account at the retailer's bank, processes a credit to the vendor's bank, and sends an approval message to the retailer's mobile phone.

Abstract: A method and system for processing invoice transactions between vendors (distributors) and retailers via mobile phone is disclosed. Each distributor has a unique vendor identifier. Each retailer has a unique identifier, typically his/her mobile phone number. An intermediary system processes payments and upon verification of account balance at retailer's bank, the intermediary system notifies the vendor bank, debits the funding account at the retailer's bank, processes a credit to the vendor's bank, and sends an approval message to the retailer's mobile phone.

Abstract: A method and system for processing a payment for a transaction with a merchant by a customer via a customer's mobile phone is disclosed. The method and system utilizes a customer mobile identifier comprised of an Issuer's BIN and the customer's telephone number. The merchant enters a customer's mobile phone number into the POS terminal and a transaction amount. This generates a transaction authorization request message in the POS terminal. The request is sent to the customer's mobile phone. The customer then selects a funding account. The amount and merchant's authorization request is then sent to the funding institution to authorize the transaction. Upon verification of account balance, the institution debits the funding account, and sends an approval message to both the customer's mobile phone and to the merchant's POS terminal.