Point-of-action billing transactor
Electronic security card and system for authenticating card ownership
Modular transaction terminal with microprocessor control
Universal funds transfer and identification card
ApplicationNo. 794112 filed on 11/15/1991
US Classes:705/65, Including intelligent token (e.g., electronic purse)235/379, Banking systems705/43, Including Automatic Teller Machine (i.e., ATM)705/67, Including authentication705/68, Balancing account705/69, Electronic cash detail (e.g., blinded, divisible, or detecting double spending)713/173, Pre-loaded with certificate902/24FOR USE WITH GENERAL PURPOSE TERMINAL* (E.G., HOME BANKING)
ExaminersPrimary: Willis, Davis L.
Assistant: Rashid, Peter J.
Attorney, Agent or Firm
Foreign Patent References
International ClassesG06F 017/60
AbstractAn improved monetary system using electronic media to exchange economic value securely and reliably. The invention provides a complete monetary system having electronic money that is interchangeable with conventional paper money comprising (1) issuing banks or financial institutions that are coupled to a money generator device for generating and issuing to subscribing customers electronic money including electronic currency backed by demand deposits, or electronic credit authorizations; (2) correspondent banks that accept and distribute the electronic money; (3) a plurality of transaction devices that are used by subscribers for storing electronic money, for performing money transactions with the on-line systems of the participating banks or for exchanging electronic money with other like transaction devices; (4) teller devices, associated with the issuing and correspondent banks, for process handling and interfacing the transaction devices to the issuing and correspondent banks, and for interfacing between the issuing and correspondent banks themselves; (5) a security arrangement for maintaining the integrity of the system; and (6) reconciliation and clearing processes to monitor and balance the monetary system.