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.

Abstract: Disclosed are methods for optimizing financial transaction processing when a conventional financial transaction processing terminal is used with a wireless transmission system. An adapter is used between the terminal and a wireless modem, such as a CDPD wireless modem. The adapter receives from the terminal a data block from which the adapter recovers the requested type of transaction and relevant information about the transaction, such as a credit card number, transaction amount, etc., and formats all transactions into a common format for transaction processing. The common format includes a check code which may be used to detect changes made to the original data block as received from the terminal. The adapter then compresses the common format for wireless transmission. The goal of the use of the common format and the data compression is to fit the transaction request into a single data packet.

Abstract: Disclosed are methods for providing electronic settlement of authorized financial transactions via a wireless transmission system. A conventional financial transaction processing point-of-sale terminal is connected to a wireless adapter. The wireless adapter is connected to a wireless transmission system, through which the adapter can communicate with a host computer. Transaction authorizations are processed via the wireless adapter, wireless transmission system and the host computer. A main transaction database is maintained by the host computer, and the adapter maintains a database of transactions which have been authorized but not yet settled. When the terminal initiates a settlement procedure, the adapter and the terminal communicate so that the adapter collects from the terminal all the transactions which are to be settled before initiating the settlement procedure with the host computer.