US4766293A
Expired / Lapsed
US
⏱️ 0.0 years remaining
Portable financial transaction card capable of authorizing a transaction in foreign currencies
Assignee: Visa International Service Association
•
Filing: 1986-06-26
•
Granted: 1988-08-23
•
Expires: 2006-06-26
Abstract
Abstract A transaction card is disclosed capable of authorizing a transaction in a foreign currency. The subject transaction card includes an internal microprocessor which is connected to a memory. Stored within the memory is a transaction limit associated with each account of the cardholder. Also stored in the memory are one or more rates for converting the transaction limit into foreign currencies. In operation, the cardholder will select the foreign currency which will be used for a purchase. After the selection, the processor will convert the transaction limit from a local or base currency to the selected foreign country. Thereafter, during the transaction, the processor will compare the transaction amount with the converted transaction limit to determine if an approval code should be generated. In a preferred embodiment, a key pad is provided on the transaction card to facilitate data entry. In addition, an LCD readout is provided for displaying the approval code.
Inventors
- 👤 Vincent Boston
Bibliographic Details
Application Number
—
Jurisdiction
US
Data Source
google_patents
Last Synchronized
2026-10-24 22:53
CPC Classifications
G; G07; G07F; G07F7/00; G07F7/08; G07F7/10; G07F7/1008; G06; G06K; G06K19/00; G06K19/06; G06K19/067; G06K19/07; G06Q; G06Q20/00; G06Q20/08; G06Q20/10; G06Q20/105; G06Q20/30; G06Q20/34; G06Q20/341; G06Q20/3415; G06Q20/357; G06Q20/3572; G06Q20/36; G06Q20/363; G06Q20/38; G06Q20/381
Claims Analysis
Total Claims: 11
Claim 1
Independent Claim
174 words
A transaction card capable of authorizing a transaction in foreign currencies comprising: data entry means; storage means for holding a transaction limit represented in a base currency and at least one rate for converting the base currency to a different, foreign currency, said storage means also holding an expiration date associated with each said conversion rate; and processor means, which includes a calender function and is connected to the data entry means and the storage means, said processor means functioning such that when a transaction is to be carried out in a foreign currency said processor means will initially determine whether the current date is before the expiration date associated with the conversion rate of said foreign currency, and if so, the processor means will convert the transaction limit initially represented in said base currency into said foreign currency using the associated conversion rate and thereafter compare the transaction amount expressed in the foreign currency supplied through said data entry means to said converted transaction limit to determine if the transaction should be approved.
Claim 2
Dependent Claim
174 words
A transaction card capable of authorizing a transaction in foreign currencies comprising: data entry means; storage means for holding a transaction limit represented in a base currency and at least one rate for converting the base currency to a different, foreign currency, said storage means also holding an expiration date associated with each said conversion rate; and processor means, which includes a calender function and is connected to the data entry means and the storage means, said processor means functioning such that when a transaction is to be carried out in a foreign currency said processor means will initially determine whether the current date is before the expiration date associated with the conversion rate of said foreign currency, and if so, the processor means will convert the transaction limit initially represented in said base currency into said foreign currency using the associated conversion rate and thereafter compare the transaction amount expressed in the foreign currency supplied through said data entry means to said converted transaction limit to determine if the transaction should be approved.
Claim 3
Dependent Claim
32 words
A transaction card as recited in claim 1 wherein said processor means generates an approval code if the transaction amount expressed in a foreign currency does not exceed said converted transaction limit.
Claim 4
Dependent Claim
13 words
A transaction card as recited in claim 2 further including a display means.
Claim 5
Dependent Claim
22 words
A transaction card as recited in claim 3 wherein after said approval code is generated it is displayed on said display means.
Claim 6
Dependent Claim
23 words
A transaction card as recited in claim 3 wherein said transaction amount is shown on said display means after it has been entered.
Claim 7
Dependent Claim
25 words
A transaction card as recited in claim 1 wherein if said transaction is approved, said processor means debits the transaction limit by the transaction amount.
Claim 8
Dependent Claim
70 words
A transaction card as recited in claim 1 wherein after said transaction limit has been converted into a first foreign currency and said processor means must convert the transaction limit from said first foreign currency to a second foreign currency, said processor means first converts said transaction limit into said base currency from said first foreign currency and thereafter into said second foreign currency using the appropriate currency conversion rate.
Claim 9
Dependent Claim
19 words
A transaction card as recited in claim 1 wherein the foreign currency is selected through said data entry means.
Claim 10
Dependent Claim
18 words
A transaction card as recited in claim 1 wherein said data entry means is defined by electrical contacts.
Claim 11
Dependent Claim
19 words
A transaction card as recited in claim 1 wherein said data entry means is defined by a key pad.
References Cited (Backward Citations)
US4007355A
Cited
US3971916A
Cited
GB1491822A
Cited
US4092524A
Cited
US4102493A
Cited
US4001550A
Cited
US4001550B1
Cited
US4222516A
Cited
US4249163A
Cited
US4256955A
Cited
US4295041A
Cited
US4211919A
Cited
US4251867A
Cited
US4443049A
Cited
DE2905190A1
Cited
US4417413A
Cited
DE2923478A1
Cited
US4447716A
Cited
US4485300A
Cited
DE3410065A1
Cited
US4614861A
Cited
US4701601A
Cited
USPTO Annuity & Maintenance Windows
| Annuity Stage | Window Opens | Payment Deadline | Surcharge Period Until | Estimated Fee | Status |
|---|---|---|---|---|---|
| 3.5 Years (Year 4) | 1991-08-23 | 1992-02-22 | 1992-08-23 | $2000.00 | Window Closed / Lapsed |
| 7.5 Years (Year 8) | 1995-08-23 | 1996-02-22 | 1996-08-23 | $3760.00 | Window Closed / Lapsed |
| 11.5 Years (Year 12) | 1999-08-23 | 2000-02-22 | 2000-08-23 | $7700.00 | Window Closed / Lapsed |