System and method for processing credit and debit card validity

Details System and method for processing credit and debit card validity System and method for processing credit and debit card validity

1991-02-25

1994-02-08

Weinhardt, Robert A.

Boots, shoes, and leggings

235380, 34082533, G06F 1521

Patent

active

052853829

ABSTRACT:
A system and method for processing credit card transactions includes a data processor with memory storage capable of accessing an electronic clearing facility through a time rated (e.g., long distance) communication link. The system generates a real-time communication with the clearing facility to determine card validity and to initiate funds collection for transactions above a predetermined amount, and generates an off-line batch communication to the clearing facility at a time when communication rates are reduced to initiate funds collection for transactions in the system below the predetermined amount. The system relies upon local card validation, including memory storage of a previously validated card during a predetermined time period, as well as rejection of previously invalidated cards during another predetermined time period. The system and method is particularly useful for remote automated vending machines and automatic teller machines which typically handle a large volume of credit and debit transactions, each of which represents a small dollar amount.

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