Credit verification system

Details Credit verification system Credit verification system

1975-06-23

1976-09-21

Cook, Daryl W.

Registers

Calculators

Input-output calculator to indicator, printer, etc.

235 6111D, 340149A, G06K 708, G06K 1908, H04Q 1104

Patent

active

039821030

ABSTRACT:
A credit verification system is disclosed including remote terminals and a central unit, for use with identification cards carrying a changeable recording medium. On presentation, cards are sensed to provide signals indicative of identification with (1) an aggregate amount of all value transactions supported by the card during a period (month) and (2) an aggregate amount of all those value transactions occurring at "off-line" stations or terminals during the period. Each terminal senses signals indicative of amounts of values as a control, depending upon the current mode of operation for the terminal involved, e.g. "off-line" or "on-line." Approval is indicated in either state, providing the card is acceptable under established criteria for each state, e.g. that the imposed limits are not exceeded.

REFERENCES:
patent: 3394246 (1968-07-01), Goldman
patent: 3564210 (1971-02-01), Presti
patent: 3610889 (1971-10-01), Goldman
patent: 3662343 (1972-05-01), Goldstein
patent: 3845277 (1974-10-01), Voss
patent: 3891830 (1975-06-01), Goldman

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