Patent US4637584A successfully refreshed from Google Patents.
Patent EP0200343B2 successfully refreshed from Google Patents.
EP0200343B2
Expired / Lapsed
EP
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Transaction system
Assignee: Visa International Service Association
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Filing: 1986-03-21
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Granted: 1996-12-18
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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
2026-11-02 20:24
CPC Classifications
G; G07; G07F; G07F7/00; G07F7/08; G06; G06Q; G06Q20/00; G06Q20/38; G06Q20/40; G06Q20/403
Claims Analysis
Total Claims: 8
Claim 1
Independent Claim
294 words
A transaction system comprising: first processor means (20) maintained at a location remote from points of transaction, said first processor means (20) including file means (22) containing cardholder information, supplied by an issuer of transaction cards, for evaluating transactions; a plurality of transactions cards (30) issued by the issuer and each carrying data identifying the cardholder; and a plurality of terminal means (40) each located at a point of transaction and connected to the first processor means (20), each terminal means (40) having means for entering the amount of a transaction, means for reading the data carried on a transaction card (30), means for storing a terminal transaction limit (42), and means for determining whether cardholder data should be transmitted to the first processor means (20), characterised in that, for the purpose of enabling each issuer of transaction cards to regulate the types of authorisation requests from said plurality of terminal means (40), in each said terminal means (40), the said transmission determining means comprises second processor means, and each said transaction card (30) further carries individual credit risk assessment information (32) comprising a multiplier associated with the cardholder and supplied by the issuer, the second processor means in operation regulating the cardholder data transmission to the first processor means (20) by evaluating a transaction on the basis of a transaction monetary limit derived from the credit risk assessment information (32) by multiplying the terminal transaction limit (42), which is unrelated to the risk assessment of individual cardholders, with the said multiplier, and an entered transaction amount, and generating an approval code if the transaction amount falls within the transaction monetary limit and, if the transaction amount exceeds the transaction monetary limit, transmitting transaction information to the said first processor means (20) for evaluation.
Claim 2
Dependent Claim
18 words
A system according to claim 1, characterised in that each said transaction card (30) includes a magnetic stripe.
Claim 3
Dependent Claim
20 words
A systems according to claim 2, characterised in that the risk assessment value (32) is encoded onto said magnetic stripe.
Claim 4
Dependent Claim
40 words
A system according to claim 1, characterised in that each 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 5
Dependent Claim
53 words
A system according to claim 1, characterised in that said second processor means further includes geographical selection means and 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 6
Dependent Claim
24 words
A system according to claim 1, characterised by a data control center (70) connected between said terminal means and said first processor means (120).
Claim 7
Dependent Claim
63 words
A system according to claim 6, characterised in that 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).
Claim 8
Independent Claim
197 words
A method of operating a transaction system including a primary processor (20) for evaluating transactions, a plurality of transaction cards (30), and a terminal (40) located at the point of the transaction and having data entry capabilities, said method comprising the steps of: providing the transaction card with data identifying the cardholder and individual credit risk assessment information (32) comprising a multiplier based on a risk assessment of the cardholder; storing in the said terminal (40) a terminal transaction limit (42) which is unrelated to the risk assessment of individual cardholders; entering the cardholder identification and individual credit risk assessment information (32) from the card (30) into the terminal (40); entering the amount of the transaction into the terminal (40); deriving an individual transaction monetary limit by multiplying the terminal transaction limit (42) from the terminal (40) with the said multiplier; comparing the amount of the transaction and the derived individual transaction monetary limit; and approving the transaction locally at the terminal (40) if the transaction amount does not exceed the derived individual transaction limit; or transmitting the transaction to the primary processor (20) for further evaluation of the transaction amount exceeds the derived individual transaction limit.
References Cited (Backward Citations)
No citation records indexed.
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