WO2014170741A2

WO2014170741A2 - Payback payment system and method to facilitate the same

Info

Publication number: WO2014170741A2
Application number: PCT/IB2014/000556
Authority: WO
Inventors: Mahesh Bhupathi PARDHASARTHY
Original assignee: Individual
Current assignee: Individual
Priority date: 2013-04-15
Filing date: 2014-04-15
Publication date: 2014-10-23
Anticipated expiration: 2015-10-15
Also published as: WO2014170741A3

Abstract

This invention relates to method and/or system for processing payback payment using digital version of a particular currency, in this case - Rupee. Payback payment (PP) is part of a payment settlement process by which shopkeepers can pay back the remaining balance amounts to the customers digitally in a scenario when customer pays bigger denomination of the currency than the billed amount. The invention also describes a system/method by which, a specially designed point of sale (POS) terminal communicates with a customer's communication device using a customer-specific recognition element/tag to perform a payment settlement process. All the customers and shopkeepers will follow a certain registration process to obtain a user account which can be credited with digital currency. The shopkeepers can use this digital currency to perform payback payments to settle any transaction and/or to redeem customer's user account with digital currency. On the other hand customers can use the digital currency to perform transactions ranging from 1 Rupee to 10000/- Rupees.

Description

Payback Payment System And Method to facilitate the same

FIELD OF THE INVENTION

[001]This invention relates to method and/or system for processing payment using digital version of a particular currency, in this case - Rupee. Payback payment (PP) is part of a payment settlement process by which shopkeepers can pay back the remaining balance amounts to the in a scenario when customer pays bigger denomination of the currency than the billed amount. The invention also describes a system/method by which, a specially designed point of sale (POS) terminal communicates with a customer's communication device using a^' customer-specific recognition element/tag to perform a payment settlement process.

BACKGROUND OF THE INVENTION

[002]The 'Change ', in financial terms, is defined as, 'the balance of money received when the amount you tender is greater than the amount due', and has become a very big problem in India. The problem of change is quite evident in India and around the world. Every time when a person visits a shop or super market, in case if he/she pays with hard cash then evidently he witnesses the 'change problem'. Most of the time the shopkeepers persuade the customers to tender exact change. In case if the customer does not show up with the exact money then the shopkeeper asks him to buy something else for the outstanding balance of the transaction or he may ask the customer to wait till either of them obtain sufficient change or simply the customer is offered another retail product of the same price as the outstanding balance. These retail products, such as toffees or similar, are not primarily required by the customer, which if put together for certain number of such transactions can amount to be of significant value and hence, can mean a great loss to the customer.

[003]Most of the time the customer gets annoyed at these circumstances, which is preventing the consumers from buying things of small value with bigger denominations. This is slowly creating a kind of fear in the consumer though he has the buying power. This situation is much prevalent in India.

[004]Because of the small change problem, we often notice a long and never ending queue near the railway stations because of the ticketing and the payment settlement process. Where the customers who are buying the tickets show up with larger denominations and the persons at the counters ask for the exact change. As the customer delays so the length of the queues increases. In this way the small coin problem is evidently affecting the customers. In buses and in the taxies because of the lack of exact change many of the passengers pay more amount than the required amount. Most of the consumer goods are getting rounded to the bigger denominations owing to lack of change. On an average consumers are losing about 3 rupees per day knowingly or unknowingly. Sometimes they may lose more amount if they make multiple transactions.

[005] Moreover, the government of India is facing a big trouble in meeting the needs of small change. The government spends lots of time and money in minting and distributing the coins to the people. But the common man who is un-willing to carry these coins in his pocket or wallet tends to keep these coins in his house and forgets about it. In this way every man is contributing to this lack of coin problem finally this has become a big problem.

[006]The problem cannot be exterminated as long as the coin system exists. The present payback settlement system rules out this problem effectively by making the shopkeepers to pay back the consumers with electronic money sent to his or her mobile phones. [007]There are nearly 93 crores mobile phone users in India. Nearly 95% of mobile users lack access to banking services via mobile phones, instead rely on cash transactions that expose them to potential theft, fraud or loss and high cost lending and remittance provides that make them vulnerable to high fees. So adaptation of digital mobile financial solution is critical in economic development with the potential to drive growth and increase financial access and security. The effort is to strengthen alternatives to a cash based system that is inefficient, costly and prone to corruption. Hence digital money changer is required.

[008]Further a fire or natural disaster can vanish cash savings but digital information of cash transactions can be saved.

[009] Banks and business use cashless system because it will substantially lower their cost by not having to deal with cash on daily basis. There will not be need to count, store or transport cash. This will make banks and shopkeepers to operate more safely and enjoy lower cost overheads as well.

[010]Today, however dissatisfied, we have , to be content with paper money. Today's electronic-money is moved from employer to our bank account and from our bank account to our favourite retail outlets without ever physically materializing. It is this virtual money that may now dominate what economists call the . money supply. It is not surprising that major advances in IT have in turn led to major advances in the way we deal with money and payments. In 1960's, 70's and 80's mainframes, minicomputers, transaction processing units and databases enabled financial innovation like ATM and credit cards. Then in 1990's worldwide web led to online banking and to online shopping and e-commerce in general. Then now in this century the innovation in digital money has led to Money PAYBACK PAYMENT SYSTEM. [011]Hence conventionally, an electronic payment system/credit card settlement system employs a credit card in a form of a magnetic card, and an electronic small amount settlement service system (Changer settlement system) employs a smart card and IC chip or specifically called as NFC chip by installing into a mobile telephone (which comes along with changer kit Fig 2A). In the credit card settlement system, information about a member/shopkeeper is stored by a credit settlement terminal installed at a shop or a cash dispenser, the information in debit/credit card is read by a card reader of the credit settlement terminal or the cash dispenser. The credit settlement terminal or the cash dispenser transmits the read information to a bank system via a PSTN (public switched telephone network), thereby providing credit card services to the member. On the other hand, in the smart card settlement system in which the IC chip/NFC chip installed within the mobile telephone, data corresponding to a designated amount of money may be stored in the IC chip/NFC chip; Therefore, whenever the member settles the small amount of money using the smart card, the amount of money is deducted from the stored total amount Therefore, if stored total amount of the money is completely spent, the IC/NFC card must be recharged.

The following paragraphs are an elaboration to the above mentioned paragraphs.

[012]In the conventional credit/debit card settlement system, information about a member is processed by a Point of sales (POS) terminal installed at a shop, The POS terminal then transmits the read information to payment gateway via a PSTN (public switched telephone network) or via the Internet, and performs the transaction by deducting the paid amount from the customer's bank account and then crediting it to the shopkeeper's bank account. In other words we can superficially conclude that the money from Customers debit/credit card will be moved to the shopkeeper's bank account via the POS terminal. The whole process of moving money from customers account to shopkeepers account can be considered as the 'forward payment', whereas moving money from the shopkeepers account to the customer's account can be considered as 'backward payment' or 'payback payment'.

[013In the traditional forward payment system, the money is sent from a customer to the shopkeeper electronically via the credit/debit card reading terminal. The main drawback of this conventional credit/debit card system is, that both the shopkeeper and the customers need to have a bank account. In case, if the customer does not have a bank account and hence no access to credit/debit card, the forward payment cannot take place. This situation can be easily averted with the Changer settlement system, as described below.

[014] In the Changer settlement system we have a specially designed POS terminal, henceforth termed as 'Changer terminals', which allows the money from the shopkeeper's smart card (comparable to a debit card) to be sent to the customers changer account (technically). From the customer's perspective, the entire transaction appears as if, the money is being transmitted from the shopkeeper's bank account to his/her mobile phone. Hence, even without the access to a bank account and a credit/debit card, a customer can pay with the currency bill of relatively bigger denomination than the billed amount and can receive the balance amount in the form of digital currency through reverse payment (as defined in [Oi l]) made possible by Changer settlement system.

SUMMARY

[015]Provided is the method, system for processing payback payment. Payback payment (PP) system allows shopkeepers to pay back the customers the remaining balance amounts out of the total billed amounts if the customers show up with larger denominations of currency notes. Shopkeepers will be provided with 'Changer terminals' and also a smart card which can be recharged with digital money. This recharged digital currency can be used by Shopkeepers to send change money in the form of digital money from their changer terminals to customer's virtual account linked to his/her mobile phone number. Digital money loaded in customer mobile can be used for payment at shops that have changer terminals or normal POS terminals.

BRIEF DESCRIPTION OF THE DRAWINGS:

[016]The accompanying drawings, which are included to provide a further understanding of the invention and are incorporated in and constitute a part of this specification, illustrate embodiments of the invention and together with the description serve to explain the principles of the invention.

Fig. 1 shows embodiments that comprise the payback payment system

Fig. 2 describes the components of 'changer kit' given to a customer during his/her registration

Fig. 3 is a flow chart explaining the step-by-step process of registration of new customer to the changer payment system.

Fig. 4 is a schematic representation of the transaction steps between shopkeeper and customer to perform payback payment

DETAILED DESCRIPTION OF THE ILLUSTRATED EMBODIMENTS

Fig.l shows embodiments which are part of the payback payment system (as defined in [012]):

[017]Changer Terminal which is further comprising the components (Fig. 1A):

Block 1. NFC reader useful to read the customers NFC chip information.

Block 2. Smart card reader preferably used to read the information in the smart card provided to the shopkeeper. Block 3. Memory preferably used for storing the terminal program.

Block 4. Microprocessors preferably used for processing the information.

Block 5. GPRS modem preferably used for connecting the terminal to the internet. [OlS]Shopkeeper 's smart card (Fig. IB) will be provided to the shopkeeper for storing the information regarding shopkeeper's identity, such as, SKID (Shopkeeper ID) and S-

PIN (Shopkeeper's PIN) of the card.

[019]In a scenario when Changer terminals are not available, Customer 's smart card (Fig.

1C), which is a card similar to conventional debit card/credit card, will be provided to the customer facilitating the customer to pay using credit/debit card reading POS terminals.

[020]NFC Tag/sticker (Fig. ID), which is based on near-field communication technology, will be provided to the customer. This NFC tag/ sticker holds NFC ID, which is useful for identifying the customer and the mobile phone associated with the tag. Customer information preferably includes his mobile phone number and account details. The NFC tag/sticker possesses a serial number printed on it.

[021]Scratch card (Fig. IE), is the essential component that is used to register a customer (using the method/process described in [028-032]) to the changer payment system.

[022]Payback server/changer server (Fig. IF)

[023]Changer terminals are given to shopkeepers to be recharged with digital money. These terminals are provided with smart card (changer shopkeeper's smart card, Fig. IB). SKID will be linked to shopkeeper's bank account and Shopkeeper 's changer account. Smart card inserted into terminal along with the correct S-PIN typed gives access to shopkeeper's account. If the incorrect S-PIN is entered for more than three times consecutively or in an event when the shopkeeper reports the loss of his/her smart card, the smart card along with his/her SKID will be blocked. All the transactions in change payment will happen through SKID as reference.

[024]Each SKID will be associated with two further accounts for receiving and sending the digital currency, which are termed as Receiving account and Sending account. Sending account is used to perform payback payment (as defined in [001] ) of a transaction viz. to send change to customer's Changer account, whereas the Receiving account is useful for receiving the digital currency from the customer's Changer account accessible via his/her mobile phone.

[025]There are many ways to recharge the Sending account. He can recharge his Sending accounts via banks, ATMs, mobiles, online recharges, or via pre-paid Changer vouchers, or he can exchange money between his own accounts {Receiving account to sending account). Money in the Receiving account can only be withdrawn, or transferred to his personal bank account. The money in the Receiving account can be used to recharge his/her Sending account by using a special function key on the Changer terminal. By this way whenever the shopkeeper runs out of balance in Sending account, he/she can instantly recharge it. But the Receiving account money cannot be used directly to perform functions of the Sending account.

[026]Here the term customer refers to the mobile phone holders, when a person wants to register his mobile to our services he/she has to buy the 'Changer kit' (Fig 2A), which contains a scratch card (Fig. 2C), a NFC Tag (Fig. 2D) and a smart card (Fig. 2B). Each NFC tag bears a unique serial number which should match with the serial number that is printed on the scratch card. [027]The Scratch card contains a long PIN number printed on it which can be read by scratching on the scratch-able area indicated on the card.

Fig. 3 explains the step-by-step process of registration of new customer to changer payment system.

[028]Customer has to call our hot number with his personal mobile, the mobile number will play a pivotal role in the process of registration and for all future transactions.

[029]After the call is connected, he/she will be greeted by our IVR (Interactive Voice Response) system, and then he/she can choose_. his/her favourite language and then proceed to the further step.

[030]After choosing the language, the IVR requests the customer to input the PIN number printed on the scratch card. After the PIN number has been entered, the IVR negotiates with the changer server to check the validity of the PIN number. Once the PIN is verified, the customer will be greeted with the thank you message through IVR and the call will be disconnected.

[031]Now the customer receives the registration details and also his/her account details along with the C-PIN (customer's unique PIN number), CID (Customer unique ID), RID (Recognition ID) and other relevant information via SMS.

[032]Now the customer should stick the NFC tag to his/her mobile outside or inside the phone. The customer registration process is now complete, (for those who has access to changer kits)

[033]For those who have no access to changer kits Customers can be registered by giving missed call to our hot number. Confirmation for the registration is by sms notifying their CID, CPIN, RID (Recognition Id). Customers are requested to keep this information highly confidential by deleting the sms once the details are safely recorded .It cannot be shared to others. CID will be specific to one's mobile number and SIM card. If SIM is lost his account can be after intimating this to our customer care. CID is enough for money inflow into the mobile. For money outflow, for e.g. paying the bills in a shop, customers need to type CID followed by CPIN. Every transaction of the customer can be notified through sms. In every sms a unique RID will be sent along with transaction details in order to check the authenticity of sms generation source.

Fig. 4 is a schematic representation of the transaction steps between shopkeeper and customer to perform payback payment:

[034] When approached by a customer and if a shopkeeper could not find exact settlement change for his/her customer, then the shopkeeper may request to the customer to accept the payback payment (as defined in [012]) in the form of digital currency into customers Changer account. The process can be initiated by simply tapping the NFC tag stuck on the phone onto the Changer terminal (Fig 4J).

[035]Once the Tag is read by the Changer terminal, the shopkeeper has to enter the exact amount that is needed to be sent to the customer, and has to press 'enter' in the terminal. Now the terminal communicates with the changer payment system (Fig. 4D) sending SKID, NFC tag ID, change amount to be sent as parameters via GPRS (General packet radio service). Now, the SKID is verified (Fig. 4E) for the sufficient balance in his/her sending account. On successful verification his/her sending account is debited with the change amount and credited to the customers changer account. The respective accounts i.e. shopkeeper's sending account and customer's changer account are updated simultaneously (Fig 4E and 4F). Now, the transaction is complete.

[036]As soon as the transaction is finished the shopkeeper receives the confirmation message, which is displayed on his terminal, and also the customer receives a SMS with the corresponding transaction details. The customer can also verify the updated balance amount by calling to our toll free number.

[037] The Payback payment system for non NFC customers works as follows.

Stepl . Customer gives missed call to provided hot number through his mobile.

Step2. SMS will be sent confirming registration along with CID, CPIN, RID.

Step3. Customer inputs his CID

Step 4 to 5. Shop keeper inputs amount to be paid back and presses Enter button

Step6. Money is credited in customer mobile account and same will be notified via SMS. Step 7 to 8. Money is debited from Changer account of shop keeper and confirmation is displayed on the terminal

Redemption process:

[038]The customer can redeem his/her digital currency present in Changer account by paying at shopping centres that are having the Changer terminals.

[039]In case, if the customer cannot find a Changer terminal in a particular shop the customer can also use the smart card provided with 'Changer kit' which can be used with all the existing credit card readers at all the shopping centres.

[040]The customer also can transfer the money in his her Changer account to his/her personal banking account via online banking. Or the customer can also use this money to purchase things online.

[041]Thus mobile customers can pay all his bills, all kinds of shopping, and all kinds of transport tickets through his mobile account from anyplace.

Customer payment process via changer account to a changer terminal: [042]The customer has to tap his NFC tag bearing mobile phone to the changer terminal

[043]Once the tag is recognized the customer has to input the amount that he/she wishes to pay via his/her changer account to the shopkeeper.

[044]Then the customer should input his/her C-PIN, once the C-PIN is verified to be correct and if there is sufficient balance in the corresponding account the customer will receive a one-time password (OTP) to his/her mobile phone via SMS

[045]To confirm the payment, the customer should input this OTP in the terminal. After a successful verification of the OTP the transaction will be completed.

[046]A confirmation dialog appears in the changer terminal and also a SMS will be sent to customer regarding the transaction and the balance.

[047] Non NFC customers can redeem by this process

Step 1 : the shopkeeper will input the amount the customer needs to pay to the shopkeeper

Step 2: the customer inputs his CID in to the terminal and also he will input his PIN and hits enter

Step 3: The customer waits for an one time password, which he receives to his mobile phone Step 4: the customer will input the one time password.

Step 5: the server verifies the one time password and completes the transaction.

Step 6: A confirmation message is sent to the customer and the confirmation is displayed in the terminal.

Claims

I Claim,

1. A payback payment system which includes:

A) Payback server/changer server,

B) Changer Terminal which is further comprising the components:

Block 1. NFC reader useful to read the customers NFC chip information,

Block 2. Smart card reader preferably used to read the information in the smart card provided to the shopkeeper,

Block 3. Memory preferably used for storing the terminal program,

Block 4. Microprocessors preferably used for processing the information,

Block 5. GPRS modem preferably used for connecting the terminal to the internet

C) Shopkeeper 's smart card will be provided to the shopkeeper for storing the information regarding shopkeeper's identity, such as, SKID (Shopkeeper ID) and S-ΡΓΝ (Shopkeeper's PIN) of the card,

D) Customer 's smart card, which is a card similar to conventional debit card/credit card, will be provided to the customer facilitating the customer to pay using credit/debit card reading POS terminals and this card is optionally used in a scenario when Changer terminals are not available.

E) Changer kit which includes a) NFC Tag/sticker, which is based on near-field communication technology, will be provided to the customer and this NFC tag/ sticker holds NFC ID, which is useful for identifying the customer and the mobile phone associated with the tag where Customer information preferably includes his mobile phone number and account details. The NFC tag/sticker possesses a serial number printed on it. b) Scratch card, is the essential component that is used to register a customer to the changer payment system.

2. The payback payment system as claimed in claim 1 wherein Changer terminals are given to shopkeepers to be recharged with digital money, these terminals are provided with changer shopkeeper's smart card and SKID will be linked to shopkeeper's bank account and Shopkeeper 's changer account, Smart card inserted into terminal along with the correct S- PIN typed gives access to shopkeeper's account, if the incorrect S-ΡΓΝ is entered for more than three times consecutively or in an event when the shopkeeper reports the loss of his/her smart card, the smart card along with his/her SKID will be blocked, all the transactions in change payment will happen through SKID as reference.

3. The payback payment system as claimed in claim 1 wherein each SKID will be associated with two further accounts for receiving and sending the digital currency, which are termed as Receiving account and Sending account, Sending account is used to perform payback payment of a transaction viz. to send change to customer's Changer account, whereas the Receiving account is useful for receiving the ^"digital currency from the customer's Changer account accessible via his/her mobile phone.

4. The payback payment system as claimed in claim 1 wherein the components of 'changer kit' given to a customer during his/her registration, here the term customer refers to the mobile phone holders, when a person wants to register his mobile to our services he/she has to buy the 'Changer kit' , which contains a scratch card , a NFC Tag and a smart card and each NFC tag bears a unique serial number which should match with the serial number that is printed on the scratch card, Wherein the Scratch card contains a long PIN number printed on it which can be read by scratching on the scratch-able area indicated on the card.

5. A process to facilitate Payback Payment using payback payment system of claim 1 Comprising steps of:

Step 1 : When approached by a customer and if a shopkeeper could not find exact settlement change for his/her customer, then the shopkeeper may request to the customer to accept the payback payment in the form of digital currency into customers Changer account and the process can be initiated by simply tapping the NFC tag stuck on the phone onto the Changer terminal,

Step 2: Once the Tag is read by the Changer terminal, the shopkeeper has to enter the exact amount that is needed to be sent to the customer, and has to press 'enter' in the terminal and said terminal will now communicate with the changer payment system sending SKID, NFC tag ID, change amount to be sent as parameters via GPRS (General packet radio service),

Step 3 : Said SKID is verified for the sufficient balance in his/her sending account and further on successful verification his/her sending account is debited with the change amount and credited to the customers changer account

Step 4: The respective accounts i.e. shopkeeper's sending account and customer's changer account are updated simultaneously which will complete the transaction,

Step 5: As soon as the transaction is finished the shopkeeper receives the confirmation message, which is displayed on his terminal, and also the customer receives a SMS with the corresponding transaction details and also the customer can also verify the updated balance amount by calling to the toll free number.

6. A process which facilitates redemption of digital currency in Customer's changer account using payback payment system of claim 1 comprising following steps:

Step 1 : The customer can redeem his/her digital currency present in Changer account by paying at shopping centres that are having the Changer terminals,

Step 2: In case, if the customer cannot find a Changer terminal in a particular shop the customer can also use the smart card provided with 'Changer kit' which can be used with all the existing credit card readers at all the shopping centres.

Step 3 :The customer also has can transfer the money in his/her changer account to his/her personal banking account via online banking Or the customer can also use this money to purchase things online,

Step 4: Thus mobile customers can pay all his bills, all kinds of shopping, and all kinds of transport tickets through his mobile account from anyplace,

Step5: The mobile customers can also recharge their Changer account with money to be used at shopping centres via the website,

7. A Customer payment process via changer account to a changer terminal using payback payment system of claim 1 comprising steps of:

Step 1 : The customer has to tap his NFC tag bearing mobile phone to the changer terminal

Step 2: Once the tag is recognized the customer has to input the amount that he/she wishes to pay via his/her changer account to the shopkeeper,

Step 3: Then the customer should input his/her C-ΡΓΝ, once the C-ΡΓΝ is verified to be correct and if there is sufficient balance in the corresponding account the customer will receive a one-time password (OTP) to his/her mobile phone via SMS Step 4: To confirm the payment, the customer should input this OTP in the terminal. After a successful verification of the OTP the transaction will be completed,

Step 5: A confirmation dialog appears in the changer terminal and also a SMS will be sent to customer regarding the transaction and the balance,

8. A process of registration of new customer to payback payment system of claim 1 comprising the steps:

Step 1 : Customer has to call our hot number with his personal mobile; the mobile number will play a pivotal role in the process of registration and for all future transactions,

Step 2: After the call is connected, he/she will be greeted by our IVR (Interactive Voice Response) system, and then he/she can choose his/her favourite language and then proceed to the further step.

Step 3: After choosing the language, the IVR requests the customer to input the PIN number printed on the scratch card. After the PIN number has been entered, the IVR negotiates with the changer server to check the validity of the PIN number. Once the PIN is verified, the customer will be greeted with the thank you message through IVR and the call will be disconnected.

Step 4: Now the customer receives the registration details and also his/her account details along with the C-PIN (customer's unique PIN number) and other relevant information via SMS.

Step 5: Now the customer should stick the NFC tag to his/her mobile outside or inside the phone and the customer registration process is now complete.

9. A process to facilitate Payback Payment using payback payment system of claim 1 wherein the shopkeeper's changer account is further divided into Sending account and Receiving account and each SKID will be associated with two further accounts for receiving and sending the digital currency, which are termed as Receiving account and Sending account. Sending account is used to perform payback payment of a transaction viz. to send change to customer's Changer account, whereas the Receiving account is useful for receiving the digital currency from the customer's Changer account accessible via his/her mobile phone.

10. A process of having two accounts as in Claim 9, which helps to separate the digital currency, i.e. The digital currency which is exclusively intended to be sent as change from the shopkeeper can only be stored in Sending account and whereas the digital currency received by a shopkeeper is stored in a separate Receiving account. By this method the received digital currency is prevented from being again used as change for sending to the customer.

1 1. A process of having two accounts as in Claim 9,wherein a shopkeeper's Sending account can be instantly recharged with the digital currency balance available in Receiving account, in following ways:

There are many ways to recharge the Sending account. He can recharge his Sending accounts via banks, ATMs, mobiles, online recharges, or via pre-paid Changer vouchers, or he can exchange money between his own accounts (Receiving account to sending account). Money in the Receiving account can only be withdrawn, or transferred to his personal bank account. The money in the Receiving account can be used to recharge his/her Sending account by using a special function key on the Changer terminal. By this way whenever the shopkeeper runs out of balance in Sending account, he/she can instantly recharge it. But the Receiving account money cannot be used directly to perform functions (as stated in [023]) of the Sending account.

12. A System for processing payback payment information, comprising:

A) Payback server (web server):

B) Changer machine which is further comprising:

a memory configured to store payback payment information;

a processor communicatively connected to the memory and configured to process information identifying a customer to whom a shopkeeper intends to electronically direct payback payment to determine if change of the customer is available electronically, and if so determined, to direct a notice to be transmitted to shopkeeper notifying the shopkeeper that the change of the customer are available electronically; and a communications port communicatively connected to the processor and configured to transmit and receive payback payment information.

13. A method for simplifying exchange of information between Mobile user and shopkeeper without direct interaction of mobile and changer machine during first interaction using, mobile and changer machine, the method comprising of,

Stepl . Customer gives missed call to provided hot number through his mobile.

Step2. SMS will be sent confirming registration along with CID, CPIN, RID.

Step3. Customer inputs his CID

Step 4 to 5. Shop keeper inputs amount to be paid back and presses Enter button

Step6. Money is credited in customer mobile account and same will be notified via SMS.

Step 7 to 8. Money is debited from Changer account of shopkeeper and same will be notified via terminal.

14. The method of claim 13 wherein the information is communicated via local network operator.

15. The method of claim 13 wherein the information loaded in customer mobile can be used for all purchases in all shops or can be withdrawn from any shop.

16. A method for simplifying exchange of information between Mobile user and shopkeeper without direct interaction of mobile and changer machine after first interaction, using mobile and changer machine the method comprising of,

Step 1 : the shopkeeper will input the amount the customer needs to pay to the shopkeeper Step 2: the customer inputs his CID in to the terminal and also he will input his PIN and hits enter

17. The method of claim 16 wherein the information is communicated via local network operator.

18. The method of claim 16 wherein the information loaded in customer mobile can be used for all purchases in all shops or can be withdrawn from any shop.