Registers – Systems controlled by data bearing records – Banking systems
Patent
1991-05-17
1992-12-29
Shepperd, John W.
Registers
Systems controlled by data bearing records
Banking systems
235380, G06F 1530, G07F 710
Patent
active
051754169
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.
REFERENCES:
patent: 4277837 (1981-07-01), Stuckert
patent: 4305059 (1981-12-01), Benton
patent: 4454414 (1984-06-01), Benton
patent: 4709136 (1987-11-01), Watanabe
patent: 4926325 (1990-05-01), Benton et al.
Belamant Serge C. P.
Mansvelt Andre P.
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