Abstract: The disclosed technology comprises methods and devices whereby a device associated with a payer or user, such as a handheld wireless device, communicates an authorization to pay a merchant and also communicates to a financial institution, either directly or indirectly, a version of the authorization. A confirmation of the payment after verification of each communication is then received, in embodiments of the disclosed technology. In this manner, a transaction is carried out only after the device authorizes the transaction to both a merchant and a financial institution, the authorizations taking place substantially simultaneously or being delayed until both authorizations can be sent out from the device.

Abstract: The disclosed technology is of a transaction layer allowing for security and trust between parties sending and receiving funds. The technology allows any company or entity to become a host server to host user accounts for sending and receiving money and is backup up by one or a plurality of secure registry servers which point users to a correct host server. Substantially any electronic-enabled payment method known in the art, so long as it is negotiable between a payor and payee, may be used with embodiments of the disclosed technology and sensitive data may be hidden from the other party. Gift cards and third party payments are also contemplated as being part of the disclosed technology.