Apple Inc.
Mobile-merchant proximity solution for financial transactions

Abstract:

In order to facilitate conducting a financial transaction via wireless communication between an electronic device (such as a smartphone) and another electronic device (such as another smartphone), a secure element in the electronic device may generate, using an encryption key associated with the secure element, a signed blob based on a transaction amount and a merchant identifier. Then, the electronic device communicates connection information between the electronic device and the other electronic device. Moreover, the electronic device may establish a connection between the electronic device and the other electronic device based on the connection information, and may concurrently provide the signed blob to the other electronic device. After receiving a signed transaction blob from the other electronic device using the connection (which includes information needed to conduct the financial transaction), the electronic device provides the information to a server to conduct the financial transaction.