EP0421808B1
Expired / Lapsed
EP
⏱️ 0.0 years remaining
Funds transfer system
Assignee: NET1 HOLDINGS Sarl
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Filing: 1990-10-05
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Granted: 1994-12-28
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Expires: 2010-10-05
Abstract
Abstract The present invention relates to a method of transferring funds characterized in that it includes the steps of linking a first portable data storage and processing device to a first financial institution; debiting an account held at the financial institution and recording a corresponding credit value in the first portable data storage and processing device; linking the first portable data storage device to a second, similar device; reducing the credit value in the first device and recording a corresponding credit value in the second device; linking the second portable data storage and processing device to a second financial institution; reducing the credit value in the second device; and recording a corresponding credit value in an account held at the second financial institution.
Inventors
- 👤 André Peter Mansvelt
- 👤 Serge Christian Pierre Belamant
Bibliographic Details
Application Number
—
Jurisdiction
EP
Data Source
google_patents
Last Synchronized
2026-10-27 22:59
CPC Classifications
G; G07; G07F; G07F7/00; G07F7/08; G07F7/10; G07F7/1008; G06; G06Q; G06Q20/00; G06Q20/04; G06Q20/06; G06Q20/08; G06Q20/10; G06Q20/22; G06Q20/223; G06Q20/26; G06Q20/30; G06Q20/32; G06Q20/322; G06Q20/3223; G06Q20/34; G06Q20/341; G06Q20/38; G06Q20/40; G06Q20/409; G06Q20/4097; G06Q40/00; G06Q40/02
Claims Analysis
Total Claims: 12
Claim 1
Independent Claim
148 words
A method of transferring funds including the steps of linking a first portable data storage and processing device (30) to a first financial institution (FI1); debiting an account held at the financial institution and recording a corresponding credit value in the first portable data storage and processing device; linking the first portable data storage device to a second, similar device (32); reducing the credit value in the first device and recording a corresponding credit value in the second device; linking the second portable data storage and processing device to a second financial institution (FI2); reducing the credit value in the second device; and recording a corresponding credit value in an account held at the second financial institution characterised in that the first and second devices each store at least a portion of a program which is run in a synchronised interactive manner between the first and second devices.
Claim 2
Dependent Claim
48 words
A method according to claim 1 characterised in that a terminal means (POS) is provided which receives the first and second devices (30;32) and permits data transfer therebetween, the terminal means operating under the control of a stored program to facilitate interaction of the first and second devices.
Claim 3
Dependent Claim
31 words
A method according to claim 1 or claim 2 characterised in that the first and second financial institutions (FI1;FI2) are one and the same bank, building society or another similar institution.
Claim 4
Dependent Claim
29 words
A method according to claim 1 or claim 2 characterised in that the first and second financial institutions (FI1;FI2) are different banks, building societies or other similar financial institutions.
Claim 5
Independent Claim
47 words
A method according to any one of claims 1 to 4 characterised in that the first and second portable data storage and processing devices (30;32) are "smart cards" comprising electronic data storage and processing circuitry on a credit card-like substrate, operating under the control of stored software.
Claim 6
Independent Claim
74 words
A method according to any one of claims 1 to 5 characterised in that the first device (30) is allocated to an individual registered at the first financial institution (FI1), while the second device (32) is allocated to a retailer or other commercial entity, the magnitude of the reduction in the credit value stored in the first device corresponding to the value of a transaction between the individual and the retailer or commercial entity.
Claim 7
Independent Claim
53 words
A method according to any one of claims 1 to 6 characterised in that the second device (32) totals the credit values recorded therein, so that the credit value recorded at the second financial institution (FI2) corresponds to the total of all credit values recorded in the second device in a predetermined period.
Claim 8
Independent Claim
161 words
A system for transferring funds including first and second portable data storage and processing devices (30;32); first terminal means (FTM1) for linking the first device to a first financial institution (FI1); second terminal means (FTM2) for linking the second device to a second financial institution (FI2); and third terminal means (POS) adapted to receive the first and second devices and to permit data transfer between them, so that a credit value stored in the first device which corresponds to a debit from an account held at the first financial institution can be reduced by a desired amount and a corresponding credit value can be recorded in the second device, the second device being adapted to transfer the credit value stored therein to an account held at the second financial institution, characterised in that the first and second devices each store at least a portion of a program which is run in a synchronised, interactive manner between the first and second devices.
Claim 9
Dependent Claim
42 words
A system according to claim 8 characterised in that the first and second portable data storage and processing devices (30;32) are "smart cards" comprising electronic data storage and processing circuitry on a credit card-like substrate, operating under the control of stored software.
Claim 10
Dependent Claim
37 words
A system according to claim 9 characterised in that the first and second terminal means (FTM1-FTM2) are adapted to link the respective smart cards to the respective financial institutions (FI1;FI2) via a data network (X 25, CSCN).
Claim 11
Dependent Claim
34 words
A system according to claim 9 or claim 10 characterised in that the third terminal means (POS) is a card reader device adapted to receive both smart cards and to allow data transfer therebetween.
Claim 12
Dependent Claim
33 words
A system according to claim 11 characterised in that the card reader device (POS) operates under the control of a stored program which facilitates the interaction of the first and second smart cards.
References Cited (Backward Citations)
No citation records indexed.
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