BACKGROUND OF THE INVENTION
[002] The recent time has witnessed tremendous growth in internet accessibility and consequently financial transactions which are executed for either online or in-store purchasing, have also grown leaps and bound. The copiousness of smart mobile communication devices has a significant contribution in providing means for such increased number of transactions. However, increased use of such smart mobile communication devices has also brought in unique challenges and opportunities, while considering such transactions.
[003] A significant section of population such as but not limited to personal or professional dependents, or minors users are internet savvy, potential customers for online as well as in-store purchases, but still have a dependency on others for conducting financial transactions for their purchases. Many of such users either may not own credit card/ bank account or may have a limited money/ credit limit available with them, which eventually restrict them to buy things of their choice and on their own. Many users may also like their respective employer, funding agencies such as bank, or any selected payer to make payments for their purchase.
[004] The solutions provided by generally available prior arts fail to disclose method and system that enables such users to browse, and select items on their own either online or in-store, and subsequently switch the transaction request for payment for buying selected items, to a party other than themselves including their parents, guardians, employers, funding agency such as bank for further execution.
[005] Thus, in the light of the above mentioned background art, it is evident that, there is a need for a method and system for switching a transaction request for payment, wherein a buyer can delegate a particular financial transaction request to a payer for their online or in-store purchases.
OBJECTIVES OF THE INVENTION
[006] In accordance with the present invention, the primary objective is to provide a method and system for switching a transaction request for payment.
[007] Another objective of the present invention is to provide a method and system enabling a buyer to delegate a particular financial transaction request for payment to a payer for their online or in-store purchases.

SUMMARY OF THE INVENTION
[008] Before the present methods, systems, and hardware enablement are described, it is to be understood that this invention in not limited to the particular systems, and methodologies described, as there can be multiple possible embodiments of the present invention which are not expressly illustrated in the present disclosure. It is also to be understood that the terminology used in the description is for the purpose of describing the particular versions or embodiments only, and is not intended to limit the scope of the present invention.
[009] The present invention provides a method and system for switching a transaction request for payment.
[0010] In an embodiment of the invention a method and system is provided for switching a transaction request for payment, wherein a buyer is enabled to delegate a particular financial transaction request for payment to a payer for their online or in-store purchases.
[0011] In another embodiment of the invention a method is provided for switching a transaction request for payment. The method comprises browsing and selecting at least one product or service online or in-store by a buyer using buyer's mobile communication device (204); selecting an option to delegate transaction request for payment for selected product or service to at least one payer out of a plurality of payers by the buyer; sending a message to a product or service provider's server (210) along with identification information of the at least one payer by the buyer's mobile communication device (204); sending identification information of the payer along with the selected product or service to an application server (206) by the product or service provider's server (210); sending a transaction request for payment from buyer for selected product or service on a payer's mobile communication device (204); receiving transaction request for payment from buyer for selected product or service by the payer and selecting a payment method out of a plurality of payment methods; executing the transaction request for payment by the payer using selected payment method for selected product or service; and sending confirmation of successful execution of transaction request for payment to the application server (206) by the product or service provider's server (210) and further sending confirmation of successful execution of transaction request for payment to the payer and the buyer by the application server (206).
[0012] In another embodiment of the invention a system is provided for switching a transaction request for payment, the system (200) comprises of a mobile application (202), residing in a network enabled mobile communication device (204); an application server (206); an application database (208); a product or service provider's server (210); a library (212); and a product or service provider's database (214).

[0013] The above said method and system is provided for switching a transaction request for payment but also can be used for many other applications.
BRIEF DESCRIPTION OF THE DRAWINGS
[0014] The foregoing summary, as well as the following detailed description of preferred embodiments including aspects and features of the invention, are better understood when read in conjunction with the appended drawings. The drawing is not necessarily to scale, emphasis instead generally being placed upon illustrating the principles of the invention. For the purpose of illustrating the invention, there is shown in the drawings exemplary constructions of the invention; however, the invention is not limited to the specific methods and system disclosed. In the drawings:
[0015] Figure 1: shows a flow chart illustrating method for switching a transaction request for payment.
[0016] Figure 2: shows a block diagram of the system for switching a transaction request for payment.
DETAILED DESCRIPTION OF THE INVENTION
[0017] Some embodiments of this invention, illustrating all its features, will now be discussed in detail.
[0018] The words "comprising," "having," "containing," and "including," and other forms thereof, are intended to be equivalent in meaning and be open ended in that an item or items following any one of these words is not meant to be an exhaustive listing of such item or items, or meant to be limited to only the listed item or items.
[0019] It must also be noted that as used herein, the singular forms "a," "an," and "the" include plural references unless the context clearly dictates otherwise. Although any systems and methods similar or equivalent to those described herein can be used in the practice or testing of embodiments of the present invention, the preferred, systems and methods are now described.
[0020] The disclosed embodiments are merely exemplary of the invention, which may be embodied in various forms.
[0021] The present invention enables a method and system for switching a transaction request
for payment. The inventions provides a method and system for switching a transaction request for
payment, wherein a buyer can delegate a particular financial transaction request for payment to a

payer, hereinafter called actual 'payer' for their online or in-store purchases. It should be noted that the buyer and payer both are the users of the method and system for switching the transaction request for payment.
[0022] In an embodiment of the present invention, a system (200) is provided for switching a transaction request for payment. The system (200) comprises of a mobile application (202), residing in a network enabled mobile communication device (204); an application server (206); an application database (208); a product or service provider's server (210); a library (212); and a product or service provider's database (214).
[0023] Referring to Figure 1 is a flow chart illustrating the method for switching a transaction request for payment.
[0024] The process starts at the step 102, at least one product or service is browsed and selected either from online or in-store by a buyer using a buyer's mobile communication device (204). At the step 104, an option is selected to delegate transaction request for payment for selected product or service to at least one payer out of a plurality of payers by the buyer. At the step 106, a message is sent to a product or service provider's server (210) along with identification information of the at least one payer by the buyer's mobile communication device (204). At the step 108, identification information of the payer is sent along with the selected product or service to an application server (206) by the product or service provider's server (210). At the step 110, a transaction request for payment is sent from buyer for selected product or service on payer's mobile communication device (204). At the step 112, the transaction request for payment from buyer for selected product or service is received by the payer and selecting a payment method out of a plurality of payment methods. At the step 114, the transaction request for payment is executed by the payer using selected payment method for selected product or service. The process ends at the step 116, confirmation of successful execution of transaction request for payment is sent to the application server (206) by the product or service provider's server (210) and further confirmation of successful execution of transaction request for payment is sent to the payer and the buyer by the application server (206).
[0025] Referring to Figure 2 is a block diagram of the system for switching a transaction request for payment.
[0026] In another embodiment of the present invention, the mobile application (202) residing in the mobile communication device (204) is selected from a group comprising of mobile communication device (204) based native application and a web container software solution. The mobile communication device (204) based native application is built on Android, iOS or Windows. The mobile communication device (204) based native application is downloadable from public application stores The mobile communication device (204) based native application and the web

container software solution enables a buyer and a payer to register for switching the transaction request for payment. The mobile communication device (204) based native application and the web container software solution also enables the payer to further switch the received transaction request for payment from the buyer to another payer. The mobile communication device (204) based native application and the web container software solution enables the payer to view information pertaining to the transaction request for payment received from the buyer and subsequently accept or reject any transaction request for payment received from the buyer.
[0027] In another embodiment of the present invention, the mobile communication device (204) is a buyer's mobile communication device or a payer's mobile communication device.
[0028] In another embodiment of the present invention, the network enabled mobile communication device (204), wherein the network is selected from a group comprising of but not limited to an internet, intranet, private close group, public close group, peer to peer, broadcast network, and wireless network.
[0029] In another embodiment of the present invention, the network enabled mobile communication device (204) is selected from a group comprising of but not limited to a mobile phone, a PDA, a smart phone, a feature phone, a smart book, a tablet PC, a PC, a notebook, a laptop, a net book, a car infotainment device, a GPS navigation device, and a gaming console.
[0030] In another embodiment of the present invention, the network enabled mobile communication device (204) is further having one or more display screens, one or more audio speaker, headphone connector port, one or more keys or keypads, one or more storage, one or more wired or wireless ports, multifunction peripherals and input output ports, having one more application specific processors or chipsets.
[0031] In another embodiment of the present invention, the application server (206) is electronically and communicatively coupled to an application database (208), a plurality of business components, and a plurality of API's. The plurality of API is selected from a group comprising of Public, Private, Partner, Mobile Integration, and Social Integration. The application server (206) components are built on Java.
[0032] In another embodiment of the present invention, the product or service provider's server (210) is hosting the library (212) which is a collection of Private API's. The library (212) is communicatively coupled to the application server (206) over the network for facilitate the functionality of seamless integration from within the product or service provider's server (210) and the application server (206).

[0033] In an alternative embodiment of the present invention, the product or service provider's server (210) is communicatively coupled to the product or service provider's database (214) and accessible to the application server (206), wherein switching the transaction request for payment from payer to the product or service provider is happening inside the product or service provider ecosystem, such as e wallet.
[0034] In another embodiment of the present invention, product or service provider is selected from a group comprising of website or applications based category including e commerce websites, e wallet, payment gateway, bank, insurance companies, hotel, airline, event websites, and aggregator; trading platform including stock, FX broker, dealer, trader; and point of sale (POS) including retailor, physical store.

WE CLAIM
1. A method for switching a transaction request for payment, characterized by enabling a
buyer to delegate a financial transaction request for payment to a payer; the method
comprising processor implemented steps of:
a. browsing and selecting at least one product or service online or in-store by the buyer
using a mobile application (202) residing in a buyer's mobile communication device
(204);
b. selecting an option to delegate transaction request for payment for selected product
or service to at least one payer out of a plurality of payers by the buyer;
c. sending a message to a product or service provider's server (210) along with
identification information of the at least one payer by the buyer's mobile
communication device (204);
d. sending identification information of the payer along with the selected product or
service to an application server (206) by the product or service provider's server
(210);
e. sending a transaction request for payment from the buyer for selected product or
service on a payer's mobile communication device (204);
f. receiving transaction request for payment from buyer for selected product or service
by the payer and selecting a payment method out of a plurality of payment methods;
g. executing the transaction request for payment by the payer using selected payment
method for selected product or service; and
h. sending confirmation of successful execution of transaction request for payment to the application server (206) by the product or service provider's server (210) and further sending confirmation of successful execution of transaction request for payment to the payer and the buyer by the application server (206).
2. The method as claimed in claim 1, wherein the buyer is enabled to delegate the financial transaction request for payment to a payer for their online or in-store purchases.
3. The method as claimed in claim 1, wherein the mobile application (202) residing in the mobile communication device (204) is selected from a group comprising of mobile communication device (204) based native application and a web container software solution.
4. The method as claimed in claim 3, further comprises of enabling the payer to view information pertaining to the transaction request for payment received from the buyer and subsequently accept or reject any transaction request for payment received from the

buyer using the mobile communication device (204) based native application and the web container software solution.
5. The method as claimed in claim 1, further comprises of collecting Private API's using a library (212) hosted by the product or service provider's server (210) and communicatively coupled to the application server (206) over the network for facilitating the integration from within the product or service provider's server (210) and the application server (206).
6. The method as claimed in claim 1, further comprises of switching the transaction request for payment from payer to the product or service provider is happening inside the product or service provider ecosystem using a product or service provider's database (214) communicatively coupled to the product or service provider's server (210) and accessible to the application server (206).
7. A system (200) for switching a transaction request for payment, characterized by enabling a buyer to delegate a financial transaction request for payment to a payer; said system comprise of a mobile application (202), residing in a network enabled mobile communication device (204); an application server (206); an application database (208); a product or service provider's server (210); a library (212); and a product or service provider's database (214).
8. The system (200) as claimed in claim 7, wherein the mobile communication device (204) is a buyer's mobile communication device or a payer's mobile communication device.
9. The system (200) as claimed in claim 7, wherein the network enabled mobile communication device (204) is selected from a group comprising of a mobile phone, a PDA, a smart phone, a feature phone, a smart book, a tablet PC, a PC, a notebook, a laptop, a net book, a car infotainment device, a GPS navigation device, and a gaming console.
10. The system (200) as claimed in claim 7, wherein the network enabled mobile communication device (204) is further having one or more display screens, one or more audio speaker, headphone connector port, one or more keys or keypads, one or more storage, one or more wired or wireless ports, multifunction peripherals and input output ports, having one more application specific processors or chipsets.
11. The system (200) as claimed in claim 7, wherein the network enabled mobile communication device (204) is adapted for browsing and selecting at least one product or service online or in-store by the buyer; sending a message to a product or service
provider server (210) along with identification information of the at least one payer; and

receiving a transaction request for payment from the buyer for selected product or service.
12. The system (200) as claimed in claim 7, wherein the application server (206) is adapted for receiving identification information of the payer along with the selected product or service sent by the product or service provider's server (210); receiving confirmation of successful execution of transaction request for payment sent by the product or service provider's server (210); and sending confirmation of successful execution of transaction request for payment to the payer and the buyer.
13. The system (200) as claimed in claim 7, wherein the product or service provider's server (210) is adapted for receiving the message along with identification information of the at least one payer sent by the mobile communication device (204); sending identification information of the payer along with the selected product or service to the application server (206); and sending confirmation of successful execution of transaction request for payment to the application server (206).
14. The system (200) as claimed in claim 7, wherein the library (212) hosted by the product or service provider's server (210) is a collection of Private API's and communicatively coupled to the application server (206) over the network for facilitating the integration from within the product or service provider's server (210) and the application server (206).
15. The system (200) as claimed in claim 7, wherein the product or service provider's database (214) is communicatively coupled to the product or service provider's server (210) and accessible to the application server (206) for switching the transaction request for payment from payer to the product or service provider is happening inside the product or service provider ecosystem.