Method for Image-Based Payment Medium

Abstract

Disclosed is a method for use of an image-based payment medium through images stored on the consumer's mobile phone in place of traditional plastic gift, credit or debit cards. Upon authentication, an image is sent to the consumer's mobile phone. The consumer displays the image at the retailer's point of sale when completing a transaction. The image is scanned with a barcode reader, a webcam or other scanning device and the consumer's account in a database is debited or credited based on the amount and type of transaction. An image-base payment medium provides for the ability to target specific ads to the consumer, directed to the registered mobile phone number and also to attach loyalty and coupon programs to the account, which the recipient may redeem upon scanning of the encoded image on the mobile phone at the point of sale.

1 . A method for providing an image-based payment medium comprising
 a) generating and storing in a database a recipient record for a recipient, the recipient record comprising a balance of an account, a unique image and a unique identifier for an associated mobile device and whether there is permission to send advertisements to the associated mobile device;   b) establishing a retailer record for a retailer in the database, the retailer record comprising an advertisement;   c) sending the unique image from the database to the associated mobile device;   d) scanning the unique image displayed on the mobile device at a point of sale;   e) validating the unique image scanned at the point of sale, wherein the validating comprises determining whether the unique identifier associated with the mobile device which displayed the unique image at the point of sale is the unique identifier associated with the mobile device of the recipient;   f) updating the recipient record for the recipient with credits or debits to the balance of the account based on a transaction at the point of sale and,   g) sending the advertisement to the associated mobile device for the recipient when there is permission.   
     
     
         2 . The method of  claim 1 , wherein the unique image is a two dimensional barcode. 
     
     
         3 . The method of  claim 1 , wherein the point of sale uses a barcode scanner for scanning the unique image.