US5557516A
Expired / Lapsed
US
⏱️ 0.0 years remaining
System and method for conducting cashless transactions
Assignee: Mastercard International Inc
•
Filing: 1994-02-04
•
Granted: 1996-09-17
•
Expires: 2014-02-04
Abstract
Abstract In a commercial transaction system, a system user uses a card device to interact with sales or transaction terminals to conduct cashless transactions. Each terminal processes data including a balance stored on the card device and updates the stored data at the end of the transaction. The system is specially designed for purchases of items or transactions of relatively small monetary value, where purchases are generally unattended by salespersons. In this manner, the amount of the transaction is deducted from the balance on the card device. In accordance with the invention, when the existing balance associated with the card does not cover the price of the transaction, the system provides an automatic renewal feature which automatically increases the balance of the card device by a predetermined amount. Such a feature allows the purchase to be made without inconveniencing the card user to increase the balance by other means. Each time the balance is increased by an automatic renewal, the card issuing bank bills the card user for increments of the predetermined amount.
Inventors
- 👤 Edward J. Hogan
Bibliographic Details
Application Number
—
Jurisdiction
US
Data Source
google_patents
Last Synchronized
2026-10-28 22:46
CPC Classifications
G; G07; G07F; G07F7/00; G07F7/02; G06; G06Q; G06Q20/00; G06Q20/08; G06Q20/10; G06Q20/105; G06Q20/108; G06Q20/30; G06Q20/34; G06Q20/343; G06Q20/3437; G06Q20/349; G06Q20/36; G06Q20/363; G07F7/08; G07F7/0806; G07F7/0833; G07F7/0866
Claims Analysis
Total Claims: 58
Claim 1
Independent Claim
111 words
Financial card apparatus comprising: first means for providing first data representing an available fund for cashless transactions; second means for providing second data in said card apparatus representing a number of renewals, each of which represents an increase of a predetermined amount to said available fund; and third means for providing third data identifying an account for billing, said account associated with said financial card apparatus; whereby an increase in said available fund is accompanied by a change in said number of renewals, and whereby upon said change said account is billed for an amount which is a function of said predetermined amount and said change in said number of renewals.
Claim 2
Dependent Claim
111 words
Financial card apparatus comprising: first means for providing first data representing an available fund for cashless transactions; second means for providing second data in said card apparatus representing a number of renewals, each of which represents an increase of a predetermined amount to said available fund; and third means for providing third data identifying an account for billing, said account associated with said financial card apparatus; whereby an increase in said available fund is accompanied by a change in said number of renewals, and whereby upon said change said account is billed for an amount which is a function of said predetermined amount and said change in said number of renewals.
Claim 3
Dependent Claim
22 words
The card apparatus of claim 1 wherein the first and second means include a memory for storing the first and second data.
Claim 4
Dependent Claim
16 words
The card apparatus of claim 2 wherein said memory is an electrically erasable programmable read-only-memory (EEPROM).
Claim 5
Dependent Claim
23 words
The card apparatus of claim 1 wherein the first and second means include magnetic storage means for storing the first and second data.
Claim 6
Dependent Claim
29 words
The card apparatus of claim 1 further comprising fourth means for providing fourth data representing a selected period of inactivity, said available fund being redeemable after said period elapses.
Claim 7
Dependent Claim
21 words
The card apparatus of claim 1 further comprising fourth means for providing fourth data on a maximum number of said renewals.
Claim 8
Dependent Claim
31 words
The card apparatus of claim 1 wherein when said available fund falls below a predetermined threshold, said available fund is increased by said predetermined amount to complete a particular cashless transaction.
Claim 9
Dependent Claim
25 words
The card apparatus of claim 7 wherein said predetermined amount is the difference between the amount of said particular cashless transaction and said available fund.
Claim 10
Dependent Claim
34 words
The card apparatus of claim 8 wherein when said number of renewals equals zero and said available fund equals zero, no increase in said available fund is allowed to complete said particular cashless transaction.
Claim 11
Dependent Claim
68 words
Terminal apparatus for conducting a cashless transaction comprising: means for receiving a card apparatus containing data representing at least a number of renewals and an available fund for said cashless transaction; means for reading said data from said card apparatus; means responsive to at least said data for increasing said available fund and causing said number of renewals to be changed; and means for processing said cashless transaction.
Claim 12
Dependent Claim
68 words
Terminal apparatus for conducting a cashless transaction comprising: means for receiving a card apparatus containing data representing at least a number of renewals and an available fund for said cashless transaction; means for reading said data from said card apparatus; means responsive to at least said data for increasing said available fund and causing said number of renewals to be changed; and means for processing said cashless transaction.
Claim 13
Dependent Claim
22 words
The terminal apparatus of claim 10 wherein said available fund is increased when said available fund falls below a predetermined threshold amount.
Claim 14
Dependent Claim
40 words
The terminal apparatus of claim 11 wherein said available fund is increased by a predetermined fund amount when said available fund is less than said predetermined threshold amount and said number of renewals falls within a predetermined set of numbers.
Claim 15
Dependent Claim
37 words
The terminal apparatus of claim 12 wherein each renewal represents an increase of said predetermined fund amount to said available fund, and wherein said number of renewals is changed by one when said available fund is increased.
Claim 16
Dependent Claim
19 words
The terminal apparatus of claim 13 wherein said number of renewals is decreased when said available fund is increased.
Claim 17
Dependent Claim
25 words
The terminal apparatus of claim 14 wherein said available fund is unchanged when said number of renewals is zero and said available fund is zero.
Claim 18
Dependent Claim
33 words
The terminal apparatus of claim 10 further comprising means for communicating to a remote processor second data representing an account number associated with said card apparatus, and an amount of said cashless transaction.
Claim 19
Dependent Claim
40 words
The terminal apparatus of claim 16 wherein said second data further represents a card number associated with said account number, said available fund, an expiration date associated with said account number and a transaction sequence number associated with said card.
Claim 20
Dependent Claim
23 words
The terminal apparatus of claim 10 further comprising means for recording information which is a function of the transaction onto said card apparatus.
Claim 21
Dependent Claim
20 words
The terminal apparatus of claim 18 wherein said information includes values of said available fund and the number of renewals.
Claim 22
Dependent Claim
53 words
The terminal apparatus of claim 10 wherein said data includes an account number associated with said card apparatus, said terminal apparatus further comprising: means for storing a list of selected account numbers; means for comparing said account number against said list; and means for determining whether said account number is within said list.
Claim 23
Dependent Claim
21 words
The terminal apparatus of claim 20 further comprising means for receiving said list of selected account numbers through a communications link.
Claim 24
Dependent Claim
21 words
The terminal apparatus of claim 20 further comprising means for retaining said card apparatus when determined to be within said list.
Claim 25
Dependent Claim
36 words
The terminal apparatus of claim 10 wherein said data includes an expiration date associated with said card apparatus, and said terminal apparatus further comprising means for comparing the date of said transaction with said expiration date.
Claim 26
Dependent Claim
46 words
The terminal apparatus of claim 10 further comprising means for providing second data representing a selected period of inactively, means for determining whether the selected period has elapsed, and means for adjusting said available fund to zero after said selected period is determined to have elapsed.
Claim 27
Dependent Claim
22 words
The terminal apparatus of claim 10 wherein said processing means includes means for providing a sequence number to index each cashless transaction.
Claim 28
Dependent Claim
22 words
The terminal apparatus of claim 10 wherein an amount of said cashless transaction is expressed in a selected one of different currencies.
Claim 29
Independent Claim
98 words
A system for conducting a cashless transaction comprising: at least one user card apparatus containing data representing at least a number of renewals and an available fund for said cashless transaction; at least one terminal apparatus including (a) means for receiving said user card apparatus; (b) means for reading said data from said card apparatus; (c) means responsive to at least said data for increasing said available fund and causing said number of renewals to be changed and (d) means for processing said cashless transaction; and means for collecting from said terminal apparatus information about said cashless transaction.
Claim 30
Independent Claim
98 words
A system for conducting a cashless transaction comprising: at least one user card apparatus containing data representing at least a number of renewals and an available fund for said cashless transaction; at least one terminal apparatus including (a) means for receiving said user card apparatus; (b) means for reading said data from said card apparatus; (c) means responsive to at least said data for increasing said available fund and causing said number of renewals to be changed and (d) means for processing said cashless transaction; and means for collecting from said terminal apparatus information about said cashless transaction.
Claim 31
Dependent Claim
21 words
The system of claim 27 wherein said available fund is increased when said available fund falls below a predetermined threshold amount.
Claim 32
Dependent Claim
16 words
The system of claim 28 wherein said predetermined threshold amount equals the amount of said transaction.
Claim 33
Dependent Claim
39 words
The system of claim 29 wherein said available fund is increased by a predetermined fund amount when said available fund is less than a predetermined threshold amount and said number of renewals falls within a predetermined set of numbers.
Claim 34
Dependent Claim
36 words
The system of claim 30 wherein each renewal represents an increase of said predetermined fund amount to said available fund, and wherein said number of renewals is changed by one when said available fund is increased.
Claim 35
Dependent Claim
18 words
The system of claim 31 wherein said number of renewals is decreased when said available fund is increased.
Claim 36
Dependent Claim
35 words
The system of claim 28 wherein when said number of renewals is zero, said available fund is increased by the difference between said available fund and the amount of said transaction to complete the transaction.
Claim 37
Dependent Claim
30 words
The system of claim 33 wherein when said number of renewals is zero and said available fund is zero, said available fund is not increased resulting in an incomplete transaction.
Claim 38
Dependent Claim
23 words
The system of claim 27 further including means for billing said user a predetermined sum upon a change in said number of renewals.
Claim 39
Dependent Claim
24 words
The system of claim 35 wherein said means for billing includes means for determining that a change in said number of renewals has occurred.
Claim 40
Dependent Claim
22 words
The system of claim 36 wherein said number of renewals is changed when said predetermined sum is added to said available fund.
Claim 41
Dependent Claim
27 words
The system of claim 37 wherein said predetermined sum is added to said available fund when said available fund is less than the amount of the transaction.
Claim 42
Dependent Claim
18 words
The system of claim 35 wherein upon said billing said predetermined sum is added to a pooled account.
Claim 43
Dependent Claim
20 words
The system of claim 39 further including means for reimbursing the amount of said transaction out of said pooled account.
Claim 44
Dependent Claim
26 words
The system of claim 35 wherein said terminal further includes means for recording information on said card apparatus which information is a function of the transaction.
Claim 45
Dependent Claim
39 words
The system of claim 41 wherein said information includes a new account balance which equals said available fund less the amount of the transaction plus, in the event of a change in said number of renewals, said predetermined sum.
Claim 46
Dependent Claim
36 words
The system of claim 42 wherein said information further includes a new number of renewals which equals said number of renewals less one in the event there has been said change in said number of renewals.
Claim 47
Independent Claim
68 words
A method for conducting a cashless transaction with a user card apparatus comprising the steps of: providing data in said user card apparatus representing at least a number of renewals and an available fund for said cashless transaction; increasing said available fund in response to at least said data; causing said number of renewals to be changed when said available fund is increased; and processing said cashless transaction.
Claim 48
Independent Claim
68 words
A method for conducting a cashless transaction with a user card apparatus comprising the steps of: providing data in said user card apparatus representing at least a number of renewals and an available fund for said cashless transaction; increasing said available fund in response to at least said data; causing said number of renewals to be changed when said available fund is increased; and processing said cashless transaction.
Claim 49
Dependent Claim
59 words
The method of claim 44 further comprising the steps of: increasing said available fund a predetermined amount in the event said available fund is less than the amount of the transaction; subtracting from said available fund the amount of said transaction to equal a new balance; recording said new balance on said card apparatus; and completing said cashless transaction.
Claim 50
Dependent Claim
28 words
The method of claim 45 wherein said increase to said available fund only occurs in the event said number of renewals is within a predetermined set of numbers.
Claim 51
Dependent Claim
31 words
The method of claim 45 wherein said predetermined amount is the difference between the amount of said transaction and said available fund in the event said number of renewals equals zero.
Claim 52
Dependent Claim
28 words
The method of claim 45 wherein said increase to said available fund does not occur if said available fund is zero and said number of renewals is zero.
Claim 53
Dependent Claim
22 words
The method of claim 45 further comprising the step of changing the number of renewals upon an increase to said available fund.
Claim 54
Dependent Claim
40 words
The method of claim 49 further including the steps of providing an account associated with said card apparatus; and billing said account an amount which is a function of said predetermined amount and said change in said number of renewals.
Claim 55
Dependent Claim
26 words
The method of claim 50 further including the steps of creating a pooled account; and reimbursing out of said pooled account the amount of said transaction.
Claim 56
Dependent Claim
17 words
The method of claim 51 wherein said pooled account is increased the amount billed to said accounts.
Claim 57
Dependent Claim
70 words
The method of claim 51 wherein: said creating step occurs at a bank which issues said card apparatus; and wherein said reimbursing step includes: having an acquirer bank pay the amount of said transaction to an account associated with said terminal; having a financial card company pay said acquirer bank the amount of said transaction; reimbursing said financial card company out of said pooled account, the amount of said transaction.
Claim 58
Dependent Claim
21 words
The method of claim 44 wherein said providing step includes the step of storing temporary data representative of another cashless transaction.
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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) | 1999-09-17 | 2000-03-18 | 2000-09-17 | $2000.00 | Window Closed / Lapsed |
| 7.5 Years (Year 8) | 2003-09-17 | 2004-03-18 | 2004-09-17 | $3760.00 | Window Closed / Lapsed |
| 11.5 Years (Year 12) | 2007-09-17 | 2008-03-18 | 2008-09-17 | $7700.00 | Window Closed / Lapsed |