Registers – Systems controlled by data bearing records – Banking systems
Reexamination Certificate
2001-03-23
2002-08-27
Frech, Karl D. (Department: 2876)
Registers
Systems controlled by data bearing records
Banking systems
C235S380000, C455S558000, C705S042000, C705S044000
Reexamination Certificate
active
06439456
ABSTRACT:
BACKGROUND OF THE INVENTION
The present invention relates generally to methods and apparatuses for transmitting money electronically, and more particularly to a method and apparatus for transmitting money electronically via a third party.
Many electronic cash payment cards and methods have been proposed to transfer value from an individual to a merchant and/or from an individual to another individual. Each of these systems requires a complex series of transactions and verifications to ensure that the overall transaction occurs securely—so much so, that many individuals refuse to employ them. This is often cited as a reason that electronic commerce has not yet reached the levels many expected.
One technique for transferring money electronically is for both sides of the transaction to transfer the money to an intermediary, often termed a trusted entity. Usually, this involves a series of pre-transaction arrangements that must be performed to establish the relationship with the intermediary. Once a party has established a relationship with the intermediary then the party can transmit money electronically between any other party that has similarly established a relationship with the intermediary by using the procedures established by the intermediary. Often, however, establishing these relationships is time consuming and requires the submission of more documentation than many individuals prefer. Furthermore, this requires both parties to use the same intermediary.
The present invention is therefore directed to the problem of developing a method and apparatus for transmitting money electronically that achieves a user's desired level of security, yet enables non-sophisticated users to employ it without requiring the submission of substantial documentation by either party to the transaction.
SUMMARY OF THE INVENTION
The present invention solves this problem by providing a method for transferring money electronically that includes the steps of providing a telephone card having stored thereon an amount of money, making a telephone call to a predetermined telephone number using the telephone card as a payment device for the telephone call, dialing a predetermined suffix to the predetermined telephone number followed by a desired dollar amount, debiting the telephone card by the desired dollar amount and crediting an account associated with the telephone number by the desired dollar amount.
According to one exemplary embodiment of the method of the present invention the telephone card can be used to activate the telephone.
According to another exemplary embodiment of the method of the present invention, the telephone includes a wireless or wireline telephone.
According to yet another exemplary embodiment of the method of the present invention the telephone card comprises a MONDEX style card combined with an individual telephone card.
According to yet another exemplary embodiment of the method of the present invention the predetermined suffix includes DTMF keys 2274, (or 4358) and the desired dollar amount is enclosed in delimiters, such as either the asterisk symbol “*” or the number symbol “#.”
According to yet another exemplary embodiment of the method of the present invention the predetermined suffix includes DTMF tones resulting from pressing keys on the telephone keypad representing an alpha sequence “CASH” or the equivalent in another language.
Another aspect of the present invention includes a method for transferring money electronically that includes the steps of making a telephone call to a predetermined telephone number using a credit card associated with a user's account as a payment device for the telephone call, entering a predetermined suffix after the predetermined telephone number followed by a desired dollar amount, and debiting the user's account by the desired dollar amount, and/or crediting an account associated with the telephone number by the desired dollar amount.
Another aspect of the present invention includes a method for transferring money electronically that includes the steps of making a telephone call to a predetermined telephone number using an electronic cash card as a payment device for the telephone call, which electronic cash card has stored thereon a certain amount of money, entering a predetermined suffix after the predetermined telephone number followed by a desired dollar amount, and deducting the desired dollar amount from the electronic cash card, and/or placing a credit in the desired dollar amount on an account associated with the telephone number.
Another aspect of the present invention includes a method for transferring money electronically that includes the steps of inserting a first electronic cash card into a first telephone, wherein the first electronic cash card has stored thereon a certain amount of money, inserting a second electronic cash card into a second telephone, making a telephone call to the second telephone using the electronic cash card as a payment device for the telephone call, dialing a predetermined suffix to a telephone number of the second telephone followed by a desired dollar amount, and transferring the desired dollar amount from the first electronic cash card to the second electronic cash card.
According to an exemplary embodiment of the present invention, the method includes the step of linking an identity of a caller to a cash account, and placing a resulting transaction on a statement to the cash account.
According to yet another exemplary embodiment of the present invention, the method includes the step of linking an identity of a caller to a user's account, and placing a resulting transaction on the user's telephone bill.
According to an exemplary embodiment of the present invention, the method includes the step of speaking the amount into an automated speech recognition system coupled to a database linking the identity of the caller to a cash account.
Another aspect of the present invention is apparatus for transferring money electronically between two parties that includes a first user card storing an amount of money and a second user card including a rewritable media. A first telephone has a card reader reading the amount of money on the user card upon insertion of the user card into the card reader. In this apparatus, a first user enters a predetermined sequence of dial tones to indicate a cash transaction is to take place followed by a particular sequence of dial tones indicating a particular amount of money to transfer. The apparatus also includes a second telephone including a second card reader writing the particular amount of money to the second user card upon insertion of the second user card into the second card reader and upon receiving the predetermined sequence of dial tones and the particular sequence of dial tones.
According to an exemplary embodiment of the present invention, the apparatus includes a communications network being coupled to the telephone and transferring the predetermined and particular sequences of dial tones pressed by a first user operating the first telephone to the second telephone thus controlling the second telephone and the second card reader.
According to another exemplary embodiment of the present invention, the first telephone is a wireless telephone.
According to an exemplary embodiment of the present invention, the first user card comprises a MONDEX style card combined with an individual telephone card.
According to an exemplary embodiment of the present invention, the apparatus includes an automated speech recognition system recognizing a voice of the first user and authorizing the transaction.
According to an exemplary embodiment of the present invention, the apparatus includes a billing system being coupled to the communications network and billing an account of the first user and crediting an account of the second user.
REFERENCES:
patent: 5559887 (1996-09-01), Davis et al.
patent: 5590038 (1996-12-01), Pitroda
patent: 5650604 (1997-07-01), Marcous et al.
patent: 5691525 (1997-11-01), Aoki et al.
patent: 5748737 (1998-05-01), Dagga
Bansal Pradeep K.
Begeja Lee
Farah Jeffrey Joseph
Kapadia Rajesh
Ramage John Gerow
Cyr Daniel St.
Frech Karl D.
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