US3869700A
Expired / Lapsed
US
⏱️ 0.0 years remaining
Stored value system
Assignee: International Business Machines Corp
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Filing: 1972-12-26
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Granted: 1975-03-04
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Expires: 1992-12-26
Abstract
Abstract Using documents that are encoded with a value that is decremented and re-encoded following a transaction, the security system of the present invention uses a security word which is encoded only at the time of issue and a data word that includes security information that may be compared with the non-reencoded security word with the result that a portion of the information is never re-encoded during use to permit a valid encoding of duplicate documents using the device normally used to read and re-encode the document.
Inventors
- 👤 Kenneth Allen Cook
- 👤 Jr Townsend Henry Porter
Bibliographic Details
Application Number
—
Jurisdiction
US
Data Source
google_patents
Last Synchronized
2026-10-26 16:03
CPC Classifications
G; G07; G07F; G07F7/00; G07F7/02; G06; G06K; G06K7/00; G06K7/08; G06Q; G06Q20/00; G06Q20/30; G06Q20/34; G06Q20/343; G06Q20/3437; G07F7/08; G07F7/12
Claims Analysis
Total Claims: 7
Claim 1
Independent Claim
190 words
A stored value system comprising a stored value card with a magnetizable layer on which digital signals are encoded on first and second portions and whereon said digital signals store a value balance, said first portion having a security word encoded thereon and said second portion having a data word, including security data with a predetermined correspondence to said security word and said value balance, encoded thereon; a device for processing said stored value card and including a document path along which said card is transported; sensing means positioned adjacent said document path for sensing data encoded on said magnetizable layer; compare means for comparing said security word encoded in said first portion with said security data encoded in said second portion to test for the presence of said predetermined correspondence; encoding means positioned adjacent said document path subsequent to said sensing means for reencoding digital signals on said magnetizable layer when said test indicates the presence of said predetermined correspondence between said security words; and control means for limiting operation of said encoding means to the period during which said magnetizable layer second portion progresses past said encoding means.
Claim 2
Dependent Claim
190 words
A stored value system comprising a stored value card with a magnetizable layer on which digital signals are encoded on first and second portions and whereon said digital signals store a value balance, said first portion having a security word encoded thereon and said second portion having a data word, including security data with a predetermined correspondence to said security word and said value balance, encoded thereon; a device for processing said stored value card and including a document path along which said card is transported; sensing means positioned adjacent said document path for sensing data encoded on said magnetizable layer; compare means for comparing said security word encoded in said first portion with said security data encoded in said second portion to test for the presence of said predetermined correspondence; encoding means positioned adjacent said document path subsequent to said sensing means for reencoding digital signals on said magnetizable layer when said test indicates the presence of said predetermined correspondence between said security words; and control means for limiting operation of said encoding means to the period during which said magnetizable layer second portion progresses past said encoding means.
Claim 3
Dependent Claim
41 words
The stored value system of claim 1 wherein said magnetizable layer comprises a stripe of magnetic material longitudinally extending along the surface of said stored value card in the direction of card travel past said sensing means and said encoding means.
Claim 4
Dependent Claim
35 words
The stored value system of claim 2 Wherein said control means comprises actuating means for initiating operation of said encoding means when said first portion of said stored value card has passed said encoding means.
Claim 5
Dependent Claim
37 words
The stored value system of claim 3 further comprising printer means adjacent said document path subsequent to said encoding means for printing the amount of said value balance on said stored value card in human readable form.
Claim 6
Dependent Claim
47 words
The stored value system of claim 4 further comprising second sensing means adjacent said document path intermediate said encoding means and said print means for sensing encoded information on said magnetic stripe and verification means for verifying the correctness of information sensed by said second sensing means.
Claim 7
Dependent Claim
32 words
The stored value system of claim 5 wherein said security data word in said first portion is identical to said security word and nested within said data word in said second portion.
References Cited (Backward Citations)
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USPTO Annuity & Maintenance Windows
| Annuity Stage | Window Opens | Payment Deadline | Surcharge Period Until | Estimated Fee | Status |
|---|---|---|---|---|---|
| 3.5 Years (Year 4) | 1978-03-03 | 1978-09-02 | 1979-03-04 | $2000.00 | Window Closed / Lapsed |
| 7.5 Years (Year 8) | 1982-03-03 | 1982-09-02 | 1983-03-04 | $3760.00 | Window Closed / Lapsed |
| 11.5 Years (Year 12) | 1986-03-03 | 1986-09-02 | 1987-03-04 | $7700.00 | Window Closed / Lapsed |