Registers – Systems controlled by data bearing records – Banking systems
Patent
1993-02-26
1995-05-30
Shepperd, John
Registers
Systems controlled by data bearing records
Banking systems
235380, 902 4, G06F 1530
Patent
active
054204054
ABSTRACT:
This invention describes a combination of methods and apparatus that creates electronic money for personal transactions which integrates the functions of cash, checks and credit cards with constant surveilance against fraud. This money can also serve as an international medium-of-exchange, and support automated sales tax collections and payment. This money's support system is comprised of personal terminals, vendor terminals, an electronic banking sub-system, and homebase terminals. Such a system, if widely used, would increase commercial and personal productivity, provide better security against fraud and counterfeiting, facilitate the automation of operations that involve currency, and sharply diminish the flood of paper that threatens to inundate the present system.
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