EP0200343A2
Expired / Lapsed
EP
⏱️ 0.0 years remaining
Transaction system
Assignee: Visa International Service Association
•
Filing: 1986-03-21
•
Granted: —
•
Expires: 2006-03-21
Abstract
Abstract @ In a transaction system the issuer (20) of transaction cards (30) can regulate the type of authorization requests transmitted from the point of transaction. Each transaction card is provided with risk assessment date (32) associated with the cardholder. Each remote transaction terminal (40) can read the information (32) placed on the transaction card (30). In operation, the risk assessment data (32) is compared with the transaction amount by the terminal (40). If the transaction is approved, the terminal (40) will issue an automatic, off-line authorization. If the transaction does not fall within the approval range, the terminal (40) will function to transmit the transaction information to the issuer (20) for evaluation. The issuer (20) can then determine whether to authorize the transaction based on its own date base (22).
Inventors
- 👤 Vincent Boston
- 👤 Einar L. Asbbo
- 👤 Elvis W. Boggan
Bibliographic Details
Application Number
—
Jurisdiction
EP
Data Source
google_patents
Last Synchronized
2026-10-25 16:46
CPC Classifications
G; G07; G07F; G07F7/00; G07F7/08; G06; G06Q; G06Q20/00; G06Q20/38; G06Q20/40; G06Q20/403
Claims Analysis
Total Claims: 10
Claim 1
Independent Claim
187 words
A system wherein an issuer of transaction cards can regulate the type of authorization requests associated with a transaction transmitted from the point of transaction, said system comprising: first processor means (20) maintained at a location remote from the point of transaction, said first processor means (20) including a file means (22) containing cardholder information, supplied by the issuer, for evaluating a transaction; a transaction card (30) carrying data identifying the cardholder, said card (30) further including data (32), supplied by the issuer and representative of risk assessment information associated with the cardholder; and terminal means (40) located at the point of transaction and connected to said first processor means (20), said terminal means (40) having a means for reading the data carried on said card (30), said terminal means (40) further including a second processor means for evaluating the transaction based on the risk assessment information carried on said card, with said terminal means (40) functioning to generate an approval code if the evaluation is favorable, and if unfavorable, said terminal means (40) will forward the transaction information to said first processor means (20) for evaluation.
Claim 2
Independent Claim
187 words
A system wherein an issuer of transaction cards can regulate the type of authorization requests associated with a transaction transmitted from the point of transaction, said system comprising: first processor means (20) maintained at a location remote from the point of transaction, said first processor means (20) including a file means (22) containing cardholder information, supplied by the issuer, for evaluating a transaction; a transaction card (30) carrying data identifying the cardholder, said card (30) further including data (32), supplied by the issuer and representative of risk assessment information associated with the cardholder; and terminal means (40) located at the point of transaction and connected to said first processor means (20), said terminal means (40) having a means for reading the data carried on said card (30), said terminal means (40) further including a second processor means for evaluating the transaction based on the risk assessment information carried on said card, with said terminal means (40) functioning to generate an approval code if the evaluation is favorable, and if unfavorable, said terminal means (40) will forward the transaction information to said first processor means (20) for evaluation.
Claim 3
Dependent Claim
47 words
A system as recited in claim 1 wherein said terminal means (40) further includes a means for entering the amount of a transaction and wherein said second processor means evaluates the transaction based upon the transaction amount and the risk assessment information (32) carried on said card.
Claim 4
Dependent Claim
61 words
A system as recited in claim 2 wherein said terminal means (40) is provided with a transaction dollar limit (42) and wherein said risk assessment information (32) is defined by a multiplier, with said second processor means functioning to multiply said multiplier by said transaction dollar limit (42), the result of which is compared with the transaction amount during the evaluation.
Claim 5
Dependent Claim
16 words
A system as recited in claim 1 wherein said transaction card (30) includes a magnetic stripe.
Claim 6
Dependent Claim
19 words
A system as recited in claim 4 wherein the risk assessment information (32) is encoded onto said magnetic stripe.
Claim 7
Dependent Claim
38 words
A system is recited in claim 1 wherein said second processor means further includes a random selection means for identifying certain transactions to be forwarded to said first processor means (20) regardless of the result of the evaluation.
Claim 8
Dependent Claim
53 words
A system as recited in claim 1 wherein said second processor means further includes geographical selection means and wherein said evaluation takes into account the location of the transaction as compared to the location of the first processor means (20) in determining whether to forward such transaction to said first processor means (20).
Claim 9
Dependent Claim
25 words
A system as recited in claim 1 further including a data control center (70) connected between said terminal means and said first processor means (120).
Claim 10
Dependent Claim
62 words
A system as recited in claim 8 wherein said data control center (70) includes a third processing means and evaluation parameters (72) supplied by the issuer, such that the data control center (70) will only forward the transaction information to the first processor means (120) if the transaction does not fall within the parameters (72) maintained at the data control center (70).
References Cited (Backward Citations)
No citation records indexed.
USPTO Annuity & Maintenance Windows
Maintenance schedule is calculated for granted US utility patents.