Secure, stored-value systems and methods of transferring monetar

Details Secure, stored-value systems and methods of transferring monetar Secure, stored-value systems and methods of transferring monetar

1997-12-19

2000-03-21

Lee, Michael G

Registers

Systems controlled by data bearing records

Banking systems

235380, 235493, 902 2, 902 4, 902 28, G06F 1760

Patent

active

060392479

ABSTRACT:
Methods and systems for encoding encrypted monetary values onto transfer vehicles include one or more payment, encoder, and encrypter devices, and, associated with each designated receiving device such as a wireless telephone, a reader, decoder, and decrypter device for deciphering the data from the transfer vehicles, and, under appropriate conditions, for transferring the monetary values encoded and encrypted on the transfer vehicle into memory associated with the designated receiving device. Once such monetary values are transferred to the receiving device, the transfer vehicle cannot be used to transfer the same monetary value again even though the transfer vehicle is not modified during the transfer process.

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