Portable financial transaction card capable of authorizing a transaction in foreign currencies
US4766293A · kind A · utility
Assignee
Inventor
Key dates
| Filing date | Jun 26, 1986 |
| Grant date | Aug 23, 1988 |
| Priority date | — |
| Expiry date | Jun 26, 2006 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q20/381
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
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.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.