Telephonic communications – Telephone line or system combined with diverse electrical... – Credit authorization
Patent
1997-06-09
1998-11-17
Woo, Stella
Telephonic communications
Telephone line or system combined with diverse electrical...
Credit authorization
379 9326, 379 9302, H04M 1100
Patent
active
058387730
ABSTRACT:
A method and apparatus for performing electronic financial transactions is disclosed having a card reader which may determine if the card being read is authorized for use with the card reader. The card reader also has a serial number which is sent to a clearing house at the time a request for authorization is made to validate the use of the card reader. Card data and the card reader's serial number are converted to DTMF tones at a customer's location and are sent to a merchant over conventional telephone lines thereby making a standard modem unnecessary. The DTMF tones are decoded at the merchants location and the data is sent by point-of-sale terminal to a clearing house for authorization. Furthermore, a traditional conversation may proceed with a merchant over the same telephone line as that by which the DTMF tones are being sent, eliminating the need for a second line at the customer's location.
REFERENCES:
patent: 3655947 (1972-04-01), Yamamoto et al.
patent: 3800283 (1974-03-01), Gropper
patent: 4454414 (1984-06-01), Benton
patent: 4482802 (1984-11-01), Aizawa et al.
patent: 4529870 (1985-07-01), Chaum
patent: 4654482 (1987-03-01), DeAngelis
patent: 4654513 (1987-03-01), Hennessy
patent: 4659914 (1987-04-01), Kondo et al.
patent: 4689478 (1987-08-01), Hale et al.
patent: 4795890 (1989-01-01), Goldman
patent: 4816655 (1989-03-01), Musyck et al.
patent: 4860341 (1989-08-01), D'Avello et al.
patent: 4868846 (1989-09-01), Kemppi
patent: 4870259 (1989-09-01), Boggan et al.
patent: 4897865 (1990-01-01), Canuel
patent: 4901068 (1990-02-01), Benton et al.
patent: 4926325 (1990-05-01), Benton et al.
patent: 4975942 (1990-12-01), Zebryk
patent: 5146067 (1992-09-01), Sloan et al.
patent: 5157717 (1992-10-01), Hitchcock
patent: 5162638 (1992-11-01), Diehl et al.
patent: 5221838 (1993-06-01), Gutman et al.
patent: 5239166 (1993-08-01), Graves
patent: 5266782 (1993-11-01), Alanara et al.
patent: 5283829 (1994-02-01), Anderson
patent: 5336870 (1994-08-01), Hughes et al.
patent: 5351296 (1994-09-01), Sullivan
patent: 5352876 (1994-10-01), Watanabe et al.
patent: 5388148 (1995-02-01), Seiderman
patent: 5408513 (1995-04-01), Busch, Jr. et al.
patent: 5465291 (1995-11-01), Barrus et al.
patent: 5513250 (1996-04-01), McAllister
patent: 5524072 (1996-06-01), Labaton et al.
Eisner Meyer W.
Scwartz Stanley G.
Belco Systems Technology Corp.
Woo Stella
LandOfFree
Personal reader capture transfer technology does not yet have a rating. At this time, there are no reviews or comments for this patent.
If you have personal experience with Personal reader capture transfer technology, we encourage you to share that experience with our LandOfFree.com community. Your opinion is very important and Personal reader capture transfer technology will most certainly appreciate the feedback.
Profile ID: LFUS-PAI-O-892944