US5704046A
Expired / Lapsed
US
⏱️ 0.0 years remaining
System and method for conducting cashless transactions
Assignee: Mastercard International Inc
•
Filing: 1996-05-30
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Granted: 1997-12-30
•
Expires: 2016-05-30
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. 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. 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 15:52
CPC Classifications
G; G07; G07F; G07F7/00; G07F7/08; G07F7/0866; G06; G06Q; G06Q20/00; G06Q20/04; G06Q20/08; G06Q20/10; G06Q20/102; G06Q20/12; G06Q20/22; G06Q20/29; G06Q20/30; G06Q20/36; G06Q20/363
Claims Analysis
Total Claims: 43
Claim 1
Independent Claim
95 words
Terminal apparatus for conducting a cashless transaction requiring a transaction amount to complete said transaction, comprising: means for receiving a card apparatus containing data representing at least an available fund; means for reading said data from said card apparatus; means responsive to at least said data representing said available fund for automatically increasing said available fund by a predetermined amount without insertion into said terminal of coins or cash, and without communication with an external central database for approval; and means for decreasing said available fund by said transaction amount to complete said cashless transaction.
Claim 2
Dependent Claim
95 words
Terminal apparatus for conducting a cashless transaction requiring a transaction amount to complete said transaction, comprising: means for receiving a card apparatus containing data representing at least an available fund; means for reading said data from said card apparatus; means responsive to at least said data representing said available fund for automatically increasing said available fund by a predetermined amount without insertion into said terminal of coins or cash, and without communication with an external central database for approval; and means for decreasing said available fund by said transaction amount to complete said cashless transaction.
Claim 3
Dependent Claim
29 words
The terminal apparatus of claim 1 wherein said available fund is automatically increased by said predetermined fund amount when said available fund is less than a predetermined threshold amount.
Claim 4
Dependent Claim
15 words
The terminal apparatus of claim 2 wherein said predetermined threshold amount is said transaction amount.
Claim 5
Dependent Claim
28 words
The terminal apparatus of claim 1 wherein said available fund is automatically increased by said predetermined fund amount when said transaction amount is greater than said available fund.
Claim 6
Dependent Claim
33 words
The terminal apparatus of claim 1 wherein said data further includes a number of renewals, wherein said number of renewals is decreased when said available fund is less than a predetermined threshold level.
Claim 7
Dependent Claim
25 words
The terminal apparatus of claim 5 wherein said available fund is unchanged when said number of renewals is zero and said available fund is zero.
Claim 8
Dependent Claim
20 words
The terminal apparatus of claim 5 wherein said available fund is not increased when said number of renewals is zero.
Claim 9
Dependent Claim
29 words
The terminal apparatus of claim 1 further comprising means for communicating to a remote processor second data representing an account number associated with said apparatus and the transaction amount.
Claim 10
Dependent Claim
40 words
The terminal apparatus of claim 8 wherein said second data further represents a card number associated with said account number, said available fund, on expiration date associated with said account number and a transaction sequence number associated with said card.
Claim 11
Dependent Claim
23 words
The terminal apparatus of claim 1 further comprising means for recording information which is a function of the transaction onto said card apparatus.
Claim 12
Dependent Claim
34 words
The terminal apparatus of claim 10 wherein said information includes the value of said available fund plus said predetermined fund amount in the event of an increase of such amount less said transaction amount.
Claim 13
Dependent Claim
53 words
The terminal apparatus of claim 1 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 14
Dependent Claim
21 words
The terminal apparatus of claim 12 further comprising means for receiving said list of selected account numbers through a communications link.
Claim 15
Dependent Claim
21 words
The terminal apparatus of claim 13 further comprising means for retaining said card apparatus when determined to be within said list.
Claim 16
Dependent Claim
35 words
The terminal apparatus of claim 1 wherein said data includes an expiration date associated with said apparatus, and said terminal apparatus further comprises means for comparing the date of said transaction with said expiration date.
Claim 17
Dependent Claim
46 words
The terminal apparatus of claim 1 further comprising means for providing second data representing a selected period of inactivity, 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 18
Dependent Claim
19 words
The terminal apparatus of claim 1 further comprising means for providing a sequence number to index each cashless transaction.
Claim 19
Dependent Claim
19 words
The terminal apparatus of claim 1 wherein said transaction amount is expressed in a selected one of different currencies.
Claim 20
Dependent Claim
29 words
The terminal apparatus of claim 1 wherein said means responsive to said data representing said available fund automatically increases said available fund by a predetermined amount during said transaction.
Claim 21
Independent Claim
110 words
A system for conducting a cashless transaction requiring a transaction amount to complete a transaction, comprising: at least one memory located on a card apparatus containing data representing at least an available fund; at least one terminal apparatus including: (a) means for reading said data from said memory; and (b) means responsive to at least said data representing said available fund for automatically increasing said available fund in said card by a predetermined amount without insertion into said terminal of coins or cash, and without communication with an external central database for approval; and (c) means for decreasing said available fund by said transaction amount to complete said cashless transaction.
Claim 22
Independent Claim
110 words
A system for conducting a cashless transaction requiring a transaction amount to complete a transaction, comprising: at least one memory located on a card apparatus containing data representing at least an available fund; at least one terminal apparatus including: (a) means for reading said data from said memory; and (b) means responsive to at least said data representing said available fund for automatically increasing said available fund in said card by a predetermined amount without insertion into said terminal of coins or cash, and without communication with an external central database for approval; and (c) means for decreasing said available fund by said transaction amount to complete said cashless transaction.
Claim 23
Dependent Claim
21 words
The system of claim 20 wherein said available fund is increased when said available fund falls below a predetermined threshold amount.
Claim 24
Dependent Claim
14 words
The system of claim 21 wherein said predetermined threshold amount equals the transaction amount.
Claim 25
Dependent Claim
18 words
The system of claim 20 wherein said predetermined amount equals an amount necessary to complete said cashless transaction.
Claim 26
Dependent Claim
23 words
The system of claim 20 further including means for billing an account associated with said memory a predetermined sum upon said automatic increase.
Claim 27
Dependent Claim
20 words
The system of claim 24 wherein said means for billing includes means for determining that said automatic increase has occurred.
Claim 28
Dependent Claim
27 words
The system of claim 25 wherein said predetermined sum is added to said available fund when said available fund is less than the amount of the transaction.
Claim 29
Dependent Claim
18 words
The system of claim 26 wherein upon said billing, said predetermined sum is added to a pooled account.
Claim 30
Dependent Claim
18 words
The system of claim 27 further including means for reimbursing the transaction amount out of said pooled account.
Claim 31
Dependent Claim
25 words
The system of claim 20 wherein said terminal further includes means for recording information in said memory which information is a function of the transaction.
Claim 32
Dependent Claim
33 words
The system of claim 29 wherein said information includes a new account balance which equals said available fund less the transaction amount plus, in the event of an automatic increase, said predetermined sum.
Claim 33
Dependent Claim
15 words
The system of claim 20 wherein said terminal further includes means for receiving said memory.
Claim 34
Independent Claim
90 words
A method for conducting a cashless transaction requiring a transaction amount to complete said transaction, comprising the steps of: reading data from a memory located on a card representing at least an available fund for said cashless transaction; automatically increasing said available fund by a predetermined amount responsive to at least said data representing said available fund without insertion into said terminal of coins or cash, and without communication with an external central database for approval; and decreasing said available fund by said transaction amount to complete said cashless transaction.
Claim 35
Independent Claim
90 words
A method for conducting a cashless transaction requiring a transaction amount to complete said transaction, comprising the steps of: reading data from a memory located on a card representing at least an available fund for said cashless transaction; automatically increasing said available fund by a predetermined amount responsive to at least said data representing said available fund without insertion into said terminal of coins or cash, and without communication with an external central database for approval; and decreasing said available fund by said transaction amount to complete said cashless transaction.
Claim 36
Dependent Claim
21 words
The method of claim 32 wherein said available fund is increased when said available fund falls below a predetermined threshold amount.
Claim 37
Dependent Claim
14 words
The method of claim 33 wherein said predetermined threshold amount equals the transaction amount.
Claim 38
Dependent Claim
20 words
The method of claim 34 wherein said predetermined amount is the difference between the transaction amount and said available fund.
Claim 39
Dependent Claim
31 words
The method of claim 32 further including the steps of: providing an account associated with said memory; and billing said account an amount which is a function of said predetermined amount.
Claim 40
Dependent Claim
24 words
The method of claim 36 further including the steps of: creating a pooled account; and reimbursing out of said pooled account the transaction amount.
Claim 41
Dependent Claim
49 words
The method of claim 37 wherein said reimbursing step includes: having an acquirer bank pay the transaction amount to an account associated with said terminal; having a financial card company pay said acquirer bank the transaction amount; reimbursing said financial card company the transaction amount from said pooled account.
Claim 42
Dependent Claim
23 words
The method of claim 32 further comprising the step of recording said available fund's balance in said memory after increasing said available fund.
Claim 43
Dependent Claim
24 words
The method of claim 32 wherein said automatic increase of said available fund responsive to at least said data occurs before said decreasing step.
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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) | 2000-12-29 | 2001-06-30 | 2001-12-30 | $2000.00 | Window Closed / Lapsed |
| 7.5 Years (Year 8) | 2004-12-29 | 2005-06-30 | 2005-12-30 | $3760.00 | Window Closed / Lapsed |
| 11.5 Years (Year 12) | 2008-12-29 | 2009-06-30 | 2009-12-30 | $7700.00 | Window Closed / Lapsed |