Account transaction system
US5231569A · kind A · utility
Assignee
Inventors
Key dates
| Filing date | Jun 12, 1990 |
| Grant date | Jul 27, 1993 |
| Priority date | — |
| Expiry date | Jun 12, 2010 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/03
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A system for performing transaction from an account such as a checking account which adds a measure of assurance of payment to the account issuer is provided. The system includes a remote transaction terminal located at the point of the transaction. The terminal reads data on a card which identifies the card holder. The amount and type of the transaction are inputted into the transaction terminal. A transaction processor is provided which accesses two negative data files. One of the negative data files is compiled by the account issuer and the other of the negative data files is compiled by a number of account issuers such as by a number of different merchants. The data identifying the card holder is compared to the data in both of the negative files and an authorization or denial signal is generated in response to the comparison.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.