Apparatus and method for secure transacting
US6122625A · kind A · utility
Assignee
Inventor
Key dates
| Filing date | Feb 18, 1998 |
| Grant date | Sep 19, 2000 |
| Priority date | — |
| Expiry date | Feb 18, 2018 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG07F19/211
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
An improved monetary system using electronic media to exchange economic value securely and reliably. The invention provides a complete monetary system having electronic money that is interchangeable with conventional paper money comprising (1) issuing banks or financial institutions that are coupled to a money generator device for generating and issuing to subscribing customers electronic money including electronic currency backed by demand deposits, or electronic credit authorizations; (2) correspondent banks that accept and distribute the electronic money; (3) a plurality of transaction devices that are used by subscribers for storing electronic money, for performing money transactions with the on-line systems of the participating banks or for exchanging electronic money with other like transaction devices; (4) teller devices, associated with the issuing and correspondent banks, for process handling and interfacing the transaction devices to the issuing and correspondent banks, and for interfacing between the issuing and correspondent banks themselves; (5) a security arrangement for maintaining the integrity of the system; and (6) reconciliation and clearing processes to monitor …
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.