US3728522A
Expired / Lapsed
US
⏱️ 0.0 years remaining
Point-of-sale credit transaction system
Assignee: TELECREDIT
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Filing: 1971-12-17
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Granted: 1973-04-17
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Expires: 1991-12-17
Abstract
Abstract A credit transaction system is disclosed for use with cards (carrying machine-readable identification of the user) and sales records (bearing a recording medium). The system receives a card along with a blank sales record for processing an anticipated sale or other transaction. The value of the transaction, and identification of the subject thereof, the date, the location of the system, and so on are supplied to the system for the development of representative electrical signals. The signals representative of the transaction are processed to arrive at an approval or disapproval of the transaction and in that regard the card is updated. Additionally, if the transaction is approved, the system records data pertinent to the transaction on the sales record. As a consequence, point-of-sale information is captured in the form of source data and converted to a machine-readable form on the transaction record.
Inventors
- 👤 D Norwich
Bibliographic Details
Application Number
—
Jurisdiction
US
Data Source
google_patents
Last Synchronized
2026-10-23 06:29
CPC Classifications
G; G07; G07F; G07F7/00; G07F7/08; G06; G06Q; G06Q20/00; G06Q20/38; G06Q20/40; G06Q20/403; G06Q20/4033; G07F7/0806; G07F7/0833
Claims Analysis
Total Claims: 4
Claim 1
Independent Claim
196 words
A point-of-sale credit transaction system for use with credit cards or the like bearing recorded representations to identify an assignee and a status indication of the assignee''s account, and also with sales records bearing a strip means for recording and providing electrical signals, comprising: means for sensing one of said cards to provide electrical signals to identify the assignee and provide status indications of the assignee''s account; means for providing electrical signals representative of a current transaction value; means for providing electrical signals representative of a location code for said system; means for receiving said signals to indicate a status of the assignee''s account and representative of a current transaction value, operative to provide an approval signal indicating approval of a current transaction; means operative conditionally upon the existence of said approval signal to record altered status indications of the assignee''s account on said one of said cards to reflect said current transaction value; and means for recording upon said strip means of one of said sales records, said signals representative of a current transaction; said signals to identify the assignee of said one card and said signals representative Of a location code for said system.
Claim 2
Dependent Claim
196 words
A point-of-sale credit transaction system for use with credit cards or the like bearing recorded representations to identify an assignee and a status indication of the assignee''s account, and also with sales records bearing a strip means for recording and providing electrical signals, comprising: means for sensing one of said cards to provide electrical signals to identify the assignee and provide status indications of the assignee''s account; means for providing electrical signals representative of a current transaction value; means for providing electrical signals representative of a location code for said system; means for receiving said signals to indicate a status of the assignee''s account and representative of a current transaction value, operative to provide an approval signal indicating approval of a current transaction; means operative conditionally upon the existence of said approval signal to record altered status indications of the assignee''s account on said one of said cards to reflect said current transaction value; and means for recording upon said strip means of one of said sales records, said signals representative of a current transaction; said signals to identify the assignee of said one card and said signals representative Of a location code for said system.
Claim 3
Dependent Claim
91 words
A credit transaction system according to claim 1 wherein said credit cards, or the like, bear a variable recording medium to record value-time signals representative of an aggregate value amount of transactions supported by the card during a predetermined period, as said status indication of the assignee''s account and wherein said system further includes: means for sensing said value-time signals for accumulation with said electrical signals representative of a current transaction value to provide current value-time signals, and means for recording said current value-time signals on said card or the like.
Claim 4
Dependent Claim
34 words
A credit transaction system according to claim 2 further including means settable for providing signals representative of a current date and further including means for testing said current date signals against said value-time signals.
References Cited (Backward Citations)
USPTO Annuity & Maintenance Windows
| Annuity Stage | Window Opens | Payment Deadline | Surcharge Period Until | Estimated Fee | Status |
|---|---|---|---|---|---|
| 3.5 Years (Year 4) | 1976-04-16 | 1976-10-16 | 1977-04-17 | $2000.00 | Window Closed / Lapsed |
| 7.5 Years (Year 8) | 1980-04-16 | 1980-10-16 | 1981-04-17 | $3760.00 | Window Closed / Lapsed |
| 11.5 Years (Year 12) | 1984-04-16 | 1984-10-16 | 1985-04-17 | $7700.00 | Window Closed / Lapsed |