Abstract: Disclosed is a wireless adaptor for a financial transaction device compatible with the public switched telephone network, such as a point-of-sale credit card terminal, allowing such a device to be used in a wireless manner. Further disclosed is a wireless financial transaction system using the wireless adaptor of the invention. Further disclosed are methods used to operate a financial transaction device compatible with the public switched telephone network in a wireless manner, and to provide additional data security therefor. The invention may be used to provide wireless and portable operation of existing credit card authorization terminals without any modifications needing to be made to either the terminal itself or any software programs contained therein.

Abstract: The present invention is a method of a wireless adaptor receiving financial information, indicative of financial transactions, in PSTN compatible format, encrypting and converting the information into PSTN non-compatible format, transmitting the encrypted and converted information to a host computer, decrypting the information by the host computer, transmitting the decrypted information to an authorization processor, which transmits back to the host computer signals indicating authorization or denial of the transaction, the host computer transforming the signal received from the authorization processor to PSTN non-compatible format, and transmitting to the to the financial device the authorization or denial signal.