Registers – Systems controlled by data bearing records – Banking systems
Patent
1997-08-22
2000-07-25
Frech, Karl D.
Registers
Systems controlled by data bearing records
Banking systems
235380, G06F 1530
Patent
active
RE0367885
ABSTRACT:
A method of transferring funds includes the steps of linking a first "smart card" to a first financial institution, debiting an account held at the financial institution and recording a corresponding credit value in the first smart card. The first smart card is then linked to a second, similar device, the credit value in the first device is reduced, and a corresponding credit value is recorded in the second device. The second device is then linked to a second financial institution, the credit value in the second device is reduced, and a corresponding credit value is recorded in an account held at the second financial institution. The first and second devices each store at least a portion of a program which is run in a synchronized interactive manner between the first devices. The invention extends to a system for implementing the method.
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Belamant Serge C. P.
Mansvelt Andre P.
Frech Karl D.
Visa International Service Association
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