WO1999060506A1 - Financial transaction device for computer use - Google Patents

Financial transaction device for computer use Download PDF

Info

Publication number
WO1999060506A1
WO1999060506A1 PCT/US1999/011273 US9911273W WO9960506A1 WO 1999060506 A1 WO1999060506 A1 WO 1999060506A1 US 9911273 W US9911273 W US 9911273W WO 9960506 A1 WO9960506 A1 WO 9960506A1
Authority
WO
WIPO (PCT)
Prior art keywords
disk
information
financial transaction
computer
transaction system
Prior art date
Application number
PCT/US1999/011273
Other languages
French (fr)
Inventor
Katrina Vargas
Original Assignee
Katrina Vargas
Priority date (The priority date is an assumption and is not a legal conclusion. Google has not performed a legal analysis and makes no representation as to the accuracy of the date listed.)
Filing date
Publication date
Application filed by Katrina Vargas filed Critical Katrina Vargas
Priority to AU41964/99A priority Critical patent/AU4196499A/en
Publication of WO1999060506A1 publication Critical patent/WO1999060506A1/en

Links

Classifications

    • G—PHYSICS
    • G07—CHECKING-DEVICES
    • G07F—COIN-FREED OR LIKE APPARATUS
    • G07F7/00—Mechanisms actuated by objects other than coins to free or to actuate vending, hiring, coin or paper currency dispensing or refunding apparatus
    • G07F7/08—Mechanisms actuated by objects other than coins to free or to actuate vending, hiring, coin or paper currency dispensing or refunding apparatus by coded identity card or credit card or other personal identification means
    • G07F7/10—Mechanisms actuated by objects other than coins to free or to actuate vending, hiring, coin or paper currency dispensing or refunding apparatus by coded identity card or credit card or other personal identification means together with a coded signal, e.g. in the form of personal identification information, like personal identification number [PIN] or biometric data
    • G07F7/1008—Active credit-cards provided with means to personalise their use, e.g. with PIN-introduction/comparison system
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/30—Payment architectures, schemes or protocols characterised by the use of specific devices or networks
    • G06Q20/34—Payment architectures, schemes or protocols characterised by the use of specific devices or networks using cards, e.g. integrated circuit [IC] cards or magnetic cards
    • G06Q20/342—Cards defining paid or billed services or quantities
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/30—Payment architectures, schemes or protocols characterised by the use of specific devices or networks
    • G06Q20/34—Payment architectures, schemes or protocols characterised by the use of specific devices or networks using cards, e.g. integrated circuit [IC] cards or magnetic cards
    • G06Q20/346—Cards serving only as information carrier of service
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/30—Payment architectures, schemes or protocols characterised by the use of specific devices or networks
    • G06Q20/36—Payment architectures, schemes or protocols characterised by the use of specific devices or networks using electronic wallets or electronic money safes
    • G06Q20/363—Payment architectures, schemes or protocols characterised by the use of specific devices or networks using electronic wallets or electronic money safes with the personal data of a user
    • G—PHYSICS
    • G07—CHECKING-DEVICES
    • G07F—COIN-FREED OR LIKE APPARATUS
    • G07F7/00—Mechanisms actuated by objects other than coins to free or to actuate vending, hiring, coin or paper currency dispensing or refunding apparatus
    • G07F7/02—Mechanisms actuated by objects other than coins to free or to actuate vending, hiring, coin or paper currency dispensing or refunding apparatus by keys or other credit registering devices
    • G07F7/025—Mechanisms actuated by objects other than coins to free or to actuate vending, hiring, coin or paper currency dispensing or refunding apparatus by keys or other credit registering devices by means, e.g. cards, providing billing information at the time of purchase, e.g. identification of seller or purchaser, quantity of goods delivered or to be delivered
    • G—PHYSICS
    • G07—CHECKING-DEVICES
    • G07F—COIN-FREED OR LIKE APPARATUS
    • G07F7/00—Mechanisms actuated by objects other than coins to free or to actuate vending, hiring, coin or paper currency dispensing or refunding apparatus
    • G07F7/08—Mechanisms actuated by objects other than coins to free or to actuate vending, hiring, coin or paper currency dispensing or refunding apparatus by coded identity card or credit card or other personal identification means
    • G07F7/0866—Mechanisms actuated by objects other than coins to free or to actuate vending, hiring, coin or paper currency dispensing or refunding apparatus by coded identity card or credit card or other personal identification means by active credit-cards adapted therefor

Definitions

  • the subject invention is directed to a credit/debit system which may be used on-line in a computer system such as a home PC or the like and is specifically directed to a portable, programmable medium which may be read by the PC.
  • a floppy disk or a compact, digital disk is provided with information including user identification, spending limits and amount available.
  • information including user identification, spending limits and amount available.
  • the user desires to make a purchase via his home computer system, he/she simply inserts the disk into the available disk drive system in the computer and initiates a pay routine. The payment is then automatically recorded by the vendor, taking all of the information from the disk.
  • the disk can be a credit disk or a debit disk, in the same manner as current credit cards.
  • the disk can duplicate all of the information on a standard issue card, permitting the user to substitute the disk for manual keying of information from the card or for eliminating the requirement to manually read in the information over the telephone system.
  • the system also works well with prepaid operations, made popular with long distance calling cards.
  • the user would pay for a certain amount of purchases in advance, for example, Internet information services.
  • the services would be ordered and paid for using the disk.
  • An example of such a service would be the ordering of U.S. Patent copies over the
  • the disk would replace the paper coupon book. Whenever a patent is ordered, the copy would immediately be paid for by deducting the proper payment from the disk. The value of the disk, the amount of money used, and the remaining balance can be displayed directly on the computer screen.
  • the financial transaction disk of the subject invention provides a convenient, efficient and accurate way for completing financial transactions from a personal computer work station. Further, it will permit the user to use the disk on any compatible computer, not being limited to a specific work station, since all of the critical information is housed directly on the disk. This will become increasingly important as computers become more widespread in use. As an example, public access computers may require an hourly charge and the disk could be used to permit access to and use of the computer.
  • Fig. 1 is a view of a compact digital disk (CD) for use with the application taught in the subject invention.
  • Fig. 2 is a view of a floppy disk for use with the application taught in the subject invention.
  • Fig. 3 is a computer system showing the screen when the disk is inserted in the reader or drive and read by the system.
  • Fig. 4 shows a typical prepaid transaction recap.
  • the subject invention is adapted to be used with atypical personal computer setup as shown in Fig. 3, wherein a computer 10 includes a floppy disk reader or drive 12 and/or a compact digital disk (CD) reader or drive 14.
  • a CRT screen 16 is provided for visual feedback of the transactional information at the work station.
  • the computer system would also include a keyboard and a mouse, or other user controlled input devices (not shown).
  • the financial transaction disk of the subject invention can be the compact digital disk (CD) 18 of Fig. 1 or the floppy disk 19 of Fig. 2.
  • CD compact digital disk
  • the disk 18 or 19 is inserted in the respective reader or drive.
  • the user credit information will then appear on screen 16 for completing the transaction.
  • a complete transaction record may be displayed, as shown at 20 in Fig. 4, and may be printed.
  • Sensitive and confidential information may not be displayed or printed, such as account number, password, and the like.
  • the disks may be password coded to prevent unauthorized use.
  • the payment is automatically transmitted to and recorded by the vendor, taking all of the information from the disk.
  • the disk can be a credit disk or a debit disk, in the same manner as current credit cards.
  • the disk can duplicate all of the information on a standard issue card, permitting the user to substitute the disk for manual keying of information from the card or for eliminating the requirement to manually read in the information over the telephone system.
  • the system also works well with prepaid operations, made popular with long distance calling cards. In this type of operation, the user would pay for a certain amount of purchases in advance, for example, Internet information services.
  • the value of the disk, the amount of money used, and the remaining balance can be displayed directly on the computer screen.
  • the financial transaction disk of the subject invention provides a convenient, efficient and accurate way for completing financial transactions from a personal computer work station. It eliminates errors and permits accurate recording and tracking of financial transactions.

Abstract

A financial transaction system permits use of automated credit/debit systems at computer work stations (10) without requiring the use of new or additional hardware equipment. A floppy disk (19) or a compact, digital disk (18) is provided with information including user identification, spending limits and amount available. When the user desires to make a purchase of his computer system, he simply inserts the disk into the available disk drive system (12 or 14) and initiates a pay routine. The payment is then automatically recorded by the vendor, taking all of the information from the disk. The disk can be a credit disk or a debit disk, in the same manner as current credit cards. The disk can duplicate all of the information on a standard issue card, permitting the user to substitute the disk for manual keying of information from the card or for eliminating the requirement to manually read in the information over the telephone system. The system also works well with prepaid operations.

Description

FINANCIAL TRANSACTION DEVICE FOR COMPUTER USE
Inventor: Katrina Anna Vargas
BACKGROUND OF THE INVENTION
Field of the Invention The subject invention is directed to a credit/debit system which may be used on-line in a computer system such as a home PC or the like and is specifically directed to a portable, programmable medium which may be read by the PC.
Discussion of the Prior Art. Credit and debit cards have become well known and are in widespread use. Such cards have become the preferred system for making point-of-sale purchases. In recent years, point-of-sale card readers have been installed in many locations. For example, many gasoline stations now provide "pay-at-the-pump" capability, where the user swipes the magnetic stripe on the card through a reader and the credit or debit information is electronically transmitted to the card processing center directly from the pump. Such applications have become common place in the credit/debit card industry. Even with the proliferation of point-of-sale terminals, the only way a consumer can use his/her credit/debit card with computer purchases is by calling via voice mail or modem and either giving the information to the vendor verbally or by keying it in with the computer keyboard. As computers continue to increase in use, and more and more sales are consummated at the home or business personal computer work station, a more efficient and more accurate way of conveying this information is desirable. While typical "point-of-sale" readers can be installed in the computer hardware for accepting standard credit/debit cards, such systems would add to the cost of the computer equipment and would be extremely costly for the retrofit market.
SUMMARY OF THE INVENTION The subject invention provides a means for utilizing automated credit/debit systems at computer work stations without requiring the use of new or additional hardware equipment. In the present invention, a floppy disk or a compact, digital disk is provided with information including user identification, spending limits and amount available. When the user desires to make a purchase via his home computer system, he/she simply inserts the disk into the available disk drive system in the computer and initiates a pay routine. The payment is then automatically recorded by the vendor, taking all of the information from the disk. The disk can be a credit disk or a debit disk, in the same manner as current credit cards. The disk can duplicate all of the information on a standard issue card, permitting the user to substitute the disk for manual keying of information from the card or for eliminating the requirement to manually read in the information over the telephone system.
The system also works well with prepaid operations, made popular with long distance calling cards. In this type of operation, the user would pay for a certain amount of purchases in advance, for example, Internet information services. The services would be ordered and paid for using the disk. An example of such a service would be the ordering of U.S. Patent copies over the
Internet, where the disk would replace the paper coupon book. Whenever a patent is ordered, the copy would immediately be paid for by deducting the proper payment from the disk. The value of the disk, the amount of money used, and the remaining balance can be displayed directly on the computer screen.
The financial transaction disk of the subject invention provides a convenient, efficient and accurate way for completing financial transactions from a personal computer work station. Further, it will permit the user to use the disk on any compatible computer, not being limited to a specific work station, since all of the critical information is housed directly on the disk. This will become increasingly important as computers become more widespread in use. As an example, public access computers may require an hourly charge and the disk could be used to permit access to and use of the computer.
Other objects and features of the invention will be readily apparent from the accompanying drawings and description of the preferred embodiment. BRIEF DESCRIPTION OF THE DRAWINGS
Fig. 1 is a view of a compact digital disk (CD) for use with the application taught in the subject invention.
Fig. 2 is a view of a floppy disk for use with the application taught in the subject invention. Fig. 3 is a computer system showing the screen when the disk is inserted in the reader or drive and read by the system.
Fig. 4 shows a typical prepaid transaction recap.
DETAILED DESCRIPTION OF THE PREFERRED EMBODIMENTS
The subject invention is adapted to be used with atypical personal computer setup as shown in Fig. 3, wherein a computer 10 includes a floppy disk reader or drive 12 and/or a compact digital disk (CD) reader or drive 14. A CRT screen 16 is provided for visual feedback of the transactional information at the work station. Typically the computer system would also include a keyboard and a mouse, or other user controlled input devices (not shown).
The financial transaction disk of the subject invention can be the compact digital disk (CD) 18 of Fig. 1 or the floppy disk 19 of Fig. 2. In use, when the user is ready to make a financial transaction over the Internet, or otherwise via the computer 10, the disk 18 or 19 is inserted in the respective reader or drive. The user credit information will then appear on screen 16 for completing the transaction. Where desired, a complete transaction record may be displayed, as shown at 20 in Fig. 4, and may be printed. Sensitive and confidential information may not be displayed or printed, such as account number, password, and the like. The disks may be password coded to prevent unauthorized use. The payment is automatically transmitted to and recorded by the vendor, taking all of the information from the disk. The disk can be a credit disk or a debit disk, in the same manner as current credit cards. The disk can duplicate all of the information on a standard issue card, permitting the user to substitute the disk for manual keying of information from the card or for eliminating the requirement to manually read in the information over the telephone system. The system also works well with prepaid operations, made popular with long distance calling cards. In this type of operation, the user would pay for a certain amount of purchases in advance, for example, Internet information services. The value of the disk, the amount of money used, and the remaining balance can be displayed directly on the computer screen.
The financial transaction disk of the subject invention provides a convenient, efficient and accurate way for completing financial transactions from a personal computer work station. It eliminates errors and permits accurate recording and tracking of financial transactions.
While certain features and embodiments of the invention have been described in detail herein, it will be readily understood that the invention includes all of the modifications, enhancements and improvements within the scope and spirit of the following claims.

Claims

CLAIMSWhat is claimed is:
1. A financial transaction system, comprising: a. a disk adapted to be read by a standard personal computer disk reader; b. the disk including personal information relating to an authorized user; c. the disk further including account information permitting access to a financial account for completing a financial transaction through use of the personal computer.
2. A financial transaction system in accordance with claim 1, wherein the disk is a floppy disk and the reader is a floppy disk drive.
3. A financial transaction system in accordance with claim 1, wherein the disk is a compact digital disk and the reader is a compact disk drive.
4. A financial transaction system in accordance with claim 1, wherein the financial information contains all of the information contained on a typical credit card.
5. A financial transaction system in accordance with claim 1, wherein the financial information contains all of the information contained on a typical debit card.
6. A financial transaction system in accordance with claim 1, wherein the financial information contains all of the information contained on a typical prepaid billing card.
7. A financial transaction system in accordance with claim 1, the computer having a CRT display screen and wherein the transaction is displayed on the computer screen.
PCT/US1999/011273 1998-05-21 1999-05-21 Financial transaction device for computer use WO1999060506A1 (en)

Priority Applications (1)

Application Number Priority Date Filing Date Title
AU41964/99A AU4196499A (en) 1998-05-21 1999-05-21 Financial transaction device for computer use

Applications Claiming Priority (2)

Application Number Priority Date Filing Date Title
US8274298A 1998-05-21 1998-05-21
US09/082,742 1998-05-21

Publications (1)

Publication Number Publication Date
WO1999060506A1 true WO1999060506A1 (en) 1999-11-25

Family

ID=22173154

Family Applications (1)

Application Number Title Priority Date Filing Date
PCT/US1999/011273 WO1999060506A1 (en) 1998-05-21 1999-05-21 Financial transaction device for computer use

Country Status (2)

Country Link
AU (1) AU4196499A (en)
WO (1) WO1999060506A1 (en)

Cited By (2)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
GB2375214A (en) * 2001-05-02 2002-11-06 Virtual Access Ltd Secure payment method and system
US6931382B2 (en) 2001-01-24 2005-08-16 Cdck Corporation Payment instrument authorization technique

Citations (2)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
US4587643A (en) * 1983-09-01 1986-05-06 Sony Corporation Disc playback apparatus
US5915093A (en) * 1997-04-24 1999-06-22 Howard Berlin Computer network debit disk used for prepayment to transfer information from a central computer

Patent Citations (2)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
US4587643A (en) * 1983-09-01 1986-05-06 Sony Corporation Disc playback apparatus
US5915093A (en) * 1997-04-24 1999-06-22 Howard Berlin Computer network debit disk used for prepayment to transfer information from a central computer

Non-Patent Citations (4)

* Cited by examiner, † Cited by third party
Title
Database Dialog, No. 01995946 Electronic Times, Make your bid (Quixell auctioning off surplus computer stock on the Internet), n 879, p 30, 17 November 1997, especially paragraph 13, beginning, "Somewhat ironically" *
Database Dialog, No. 06548678 STRAITS TIMES; New Net mail offers safe credit card shopping, 27 November 1996, page 28 *
FURGER R.: "Digital Cash Gets Real: Good-bye to Free Web Content?", PC WORLD, January 1998 (1998-01-01), pages 68 - 70, XP002925046 *
RIGNEY M.: "Smart Cards, the Latin way", CREDIT CARD MANAGEMENT, vol. 11, no. 3, June 1998 (1998-06-01), pages 73 - 77, XP002925047 *

Cited By (4)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
US6931382B2 (en) 2001-01-24 2005-08-16 Cdck Corporation Payment instrument authorization technique
GB2375214A (en) * 2001-05-02 2002-11-06 Virtual Access Ltd Secure payment method and system
GB2375214B (en) * 2001-05-02 2004-09-29 Virtual Access Ltd Secure payment method and system
US7110979B2 (en) 2001-05-02 2006-09-19 Virtual Access Limited Secure payment method and system

Also Published As

Publication number Publication date
AU4196499A (en) 1999-12-06

Similar Documents

Publication Publication Date Title
US11651444B2 (en) Receiving, sending and managing electronic approvals and receipt invention
US7316350B2 (en) Multi-purse card system and methods
US5426281A (en) Transaction protection system
US5594226A (en) Automated check verification and tracking system using bar code information
US7853523B2 (en) Secure networked transaction system
KR100933387B1 (en) Online payer authentication service
US6908031B2 (en) Systems and methods for price matching on funds transfers
EP0527639A2 (en) Home financial transaction system
US20010034717A1 (en) Fraud resistant credit card using encryption, encrypted cards on computing devices
WO2004055711A2 (en) System and method for selecting financial services
MXPA06000573A (en) System and method for activating or changing the status of an account associated with a prepaid card.
US7865433B2 (en) Point of sale purchase system
US20050044040A1 (en) System and method of mediating business transactions
JP2002083237A5 (en)
WO1999060506A1 (en) Financial transaction device for computer use
GB2366897A (en) An electronic purchasing method using redeemable points
JP2661559B2 (en) Transaction processing method
WO2007029123A2 (en) System and method for processing transactions
WO1999035620A1 (en) Methods and apparatus for processing smartcard transactions
KR20050006628A (en) System and method for processing an electronic-receipt
CA2535837A1 (en) Point of sale purchase system
KR20020051665A (en) Electronic commerce method using mobile communication terminal and apparatus thereof
O'Sullivan Smart cards put the" ATM" in the kitchen
Welcome Singapore shoppers to use Smarty for online payments
WO2003094124A2 (en) Method and apparatus for employing checks

Legal Events

Date Code Title Description
AK Designated states

Kind code of ref document: A1

Designated state(s): AE AL AM AU AZ BA BB BG BR BY CA CH CN CU CZ EE GD GE GH HR HU IL IN IS JP KE KP KR LC LK LR LS LT LV MD MG MK MN MW MX NO NZ PL PT RO RU SE SG SI SL TJ TM TR TT UA UG UZ VN YU ZA ZW

AL Designated countries for regional patents

Kind code of ref document: A1

Designated state(s): GH GM KE LS MW SD SL SZ UG ZW AM AZ BY KG KZ MD RU TJ TM AT BE CH CY DE DK ES FI FR GB GR IE IT LU MC NL PT SE BF BJ CF CG CI CM GA GN GW ML MR NE SN TD TG

121 Ep: the epo has been informed by wipo that ep was designated in this application
DFPE Request for preliminary examination filed prior to expiration of 19th month from priority date (pct application filed before 20040101)
NENP Non-entry into the national phase

Ref country code: KR

122 Ep: pct application non-entry in european phase