Information consolidation within a transaction network

Details Information consolidation within a transaction network Information consolidation within a transaction network

1994-09-30

1996-08-06

Hayes, Gail O.

Boots, shoes, and leggings

364401R, G06F15700

Patent

active

055440860

ABSTRACT:
A system for determining value in a stored value transaction system has a plurality of value transferring devices including a local device, a collection device, a consolidation device and a settlement device. A stored value transaction network includes a settlement device and a consolidation device coupled to the settlement device. A value transferring device applies stored value information to the consolidation device. The consolidation device transmits a consolidated portion of the received stored value information to the settlement device for performing network settlement in accordance with the consolidated portion by the network settlement device. A plurality of collection devices within the network can transmit stored value information to the consolidation device and a consolidated portion of the stored value information of the plurality of consolidation devices can be used for network settlement. A further portion of the stored value information is transferred to a storage device.

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