Financial transaction system with retirement saving benefit

Details Financial transaction system with retirement saving benefit Financial transaction system with retirement saving benefit

1998-07-17

2000-08-22

Le, Thien M.

Registers

Systems controlled by data bearing records

Credit or identification card systems

705 35, G06K 500

Patent

active

061058653

ABSTRACT:
The system is a rebate program for the benefit of participating individuals such as wage earners. Participating individuals apply and are approved and are issued a card with an identifiable account number using credit approval systems. The card may include debit, smart card, customer loyalty and security features. The rebate is calculated and transferred to the participant's account in a trust fund. The card may also be used to engage in other financial transactions. The system may include a wide range of retail merchants as well as professional services available to the participant. Funds are disbursed to the participant upon the occurrence of certain specified events.

REFERENCES:
patent: 5705798 (1998-01-01), Tarbox
patent: 5787404 (1998-07-01), Fernandez-Holmann
patent: 5806045 (1998-09-01), Biorge et al.
patent: 5884271 (1999-03-01), Pitroda
patent: 5945653 (1999-08-01), Walker et al.
patent: 5970478 (1999-10-01), Walker et al.

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