Security system for non-cash transactions

Details Security system for non-cash transactions Security system for non-cash transactions

1994-08-22

1997-03-25

Hayes, Gail O.

Telephonic communications

Special services

Anonymous party

379 91, 379 95, 3408253, 34082532, 34082533, 34082534, 34082544, 235379, 235380, 395244, G06F 1760, G08B 522

Patent

active

056151101

ABSTRACT:
When a non-cash transaction occurs, the corresponding computer account writing system will be in operation. The computer account writing system outputs information signals which include the transaction (non-cash instant payment) information and the private address code of the true owner recorded in the system, to the transaction signal transmitting station. The transaction signal transmitting station immediately sends out the transaction information signals according to the ID code or the true owner in the covering area. The true owner can rapidly receive the signals by all account receiver carried by him/her, and can be informed that a transaction involving one of his accounts, is taking place. According to the signals received, the true owner can make a determination at once whether he should take action or not. If, within an arranged period of time the true owner does not take ally action, then it is determined that the true owner agrees to the transaction. If the true owner believes that the transaction is illegal and is due, for example, to a stolen card or phone, he can use a communication means such as a telephone, to inform the corresponding computer account writing system. The computer account writing system will send back signals to the location where the transaction is taking place, to show a refusal of payment. Thus, the loss to the true owner and the company, bank, etc., involved, is minimized or prevented.

REFERENCES:
patent: 4644351 (1987-02-01), Zabarsky et al.
patent: 5005014 (1991-04-01), Jasinski
patent: 5208446 (1993-05-01), Martinez
patent: 5321751 (1994-06-01), Ray et al.
patent: 5335246 (1994-08-01), Yokev et al.
patent: 5416306 (1995-05-01), Imahata
patent: 5530438 (1996-06-01), Bickham et al.
"Future of mobile Satellite shows potential . . . " Industrial Communcations; Phillips Publishing Inc. Jul. 7, 1989.

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