Registers – Systems controlled by data bearing records – Banking systems
Reexamination Certificate
1998-03-23
2002-11-05
Nguyen, Cuong (Department: 3625)
Registers
Systems controlled by data bearing records
Banking systems
C235S375000, C235S382000, C235S385000
Reexamination Certificate
active
06474544
ABSTRACT:
FIELD OF THE INVENTION
The present invention relates to an apparatus or database for use in processing transactions relating to smart products.
BACKGROUND OF THE INVENTION
Smartcards are credit card-type cards with a microprocessor that works in conjunction with a smartcard reader. The microprocessor processes transactions involved in purchases of products or services, and these transactions use a “purse” or stored data, in the card, identifying a value of the card. A smartcard typically includes data encryption capabilities for secured transactions. In general, when a user inserts a smartcard into a reader, a user interface or screen displays to the user a value present in the smartcard and allows the user to conduct a transaction involving the smartcard. A user may, for example, use the smartcard to purchase a particular product, at which time the smartcard reader verifies the transaction and reduces the purse by a corresponding amount.
Smartcard transactions typically require the use of two smartcards. When a user purchases a product, for example, the value of the user's smartcard is reduced and the value of the seller or merchant's smartcard is increased by a corresponding amount. In addition, value may be transferred from one smartcard directly to another, which provides the advantage of avoiding or reducing the cost of processing transactions in comparison to conventional credit card transactions.
A known protocol for processing smartcard transactions is referred to as Mondex authentication by Mondex International Limited. Mondex authentication requires the use of two smartcards to process a transaction. The Mondex authentication, for example, does not permit value to be transferred from a smartcard to an entity other than another smartcard. Rather, value must be transferred from one smartcard to another.
Certain entities, such as authorized banks, are permitted to convert a digital representation of a currency value on a smartcard into hard currency or the representation of currency in a user's bank account. However, only a certain limited number of these institutions exist and smartcard transactions otherwise must ordinarily use at least two smartcards, as the digital value of currency must always reside on a smartcard.
The requirement of at least two smartcards for a transaction places certain limits on smartcard transactions. If many smartcard users attempt to transfer currency to or from their smartcards at the same time, a system may have difficulty processing such a large volume of requests as it requires another smartcard for each transaction. In addition, many smartcards have a relatively low limit in terms of currency value, which places limits on smartcard transactions involving high currency values.
Accordingly, a need exists for an apparatus and method for improved processing of smartcard and related transactions.
SUMMARY OF THE INVENTION
Apparatus and methods consistent with the present invention process electronic transactions using a collection of electronically accessible smart products such as smartcards and devices with similar functionality.
An apparatus consistent with the present invention electronically receives a request for a smart product transaction. The apparatus selects a particular smart product among a plurality of electronically accessible smart products, and it processes the transaction using the selected smart product.
A method consistent with the present invention includes electronically receiving a request for a smart product transaction. A particular smart product is selected among a plurality of electronically accessible smart products, and the transaction is processed using the selected smart product.
A database consistent with the present invention may be used to process smart product transactions. The database includes a plurality of vectors, each of the vectors identifying an address for accessing a particular smart product within a group of electronically accessible smart products, and identifying a value of the particular smart product. The database also includes a plurality of types of currencies, each of the types of currencies being associated with at least one of the vectors.
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Bender Michael
Di Giorgio Rinaldo
Goldstein Theodore
Neiman Diana
Finnegan Henderson Farabow Garrett & Dunner L.L.P.
Nguyen Cuong
Sun Microsystems Inc.
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