Method and apparatus for funds and credit line transfers

Details Method and apparatus for funds and credit line transfers Method and apparatus for funds and credit line transfers

1997-06-13

1999-09-07

Le, Taien Mink

Registers

Systems controlled by data bearing records

Banking systems

235380, 380 23, 380 24, G06F 1760, H04K 100

Patent

active

059490446

ABSTRACT:
A financial tender transfer system allows a transferor to transfer credit or make payment to a transferee by debiting the credit card of the transferor and crediting the credit card of the transferee. The financial tender transfer system gives the transferee immediate access to the transferred money and ensures the transferor's credit card is valid. Neither party needs to give their credit card number to the other, so security is preserved. Any amount of value up to the full credit line of the transferor can be transferred to the transferee.

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