Data processing system including transaction authorization devic

Details Data processing system including transaction authorization devic Data processing system including transaction authorization devic

1998-05-21

2000-05-16

MacDonald, Allen R.

Data processing: financial, business practice, management, or co

Automated electrical financial or business practice or...

Finance

705 38, 705 41, G06F 1760

Patent

active

060649887

ABSTRACT:
A supersmart card system is provided for authorizing transactions between a transaction card user and a merchant. The supersmart card system includes a plurality of conventional transaction cards such as a debit cards, credit cards, or phone service cards, and a transaction authorization device. The transaction authorization device is user-carried and constructed to be separate and apart from the transaction card. The transaction authorization device includes logic means for storing data relating to the identity of the transaction card user and data relating to the authorization of transactions between a user and financial institutions or service providers. Preferably, the transaction authorization card also includes means enabling a user to select a particular transaction card for processing a transaction. The supersmart card system therein provides the simple to manufacture and use structure which reduces the potential for fraud arising from theft of a transaction card and which enables a user to carry about a single authorization device for authorizing transactions involving a large number of transaction cards and their corresponding financial institutions and service providers between a transaction card user and merchant.

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