System for making payments for transactions

Details System for making payments for transactions System for making payments for transactions

1986-10-21

1987-06-16

Trafton, David L.

Registers

Systems controlled by data bearing records

Banking systems

235380, 364406, G06F 1530

Patent

active

046738029

ABSTRACT:
A transaction payment system including a central processing system. The central processing system has an account file including a file portion having stored therein data relating to the accounts of users and a file portion having stored therein data relating to the accounts of stores, and an outstanding transaction file for storing outstanding transaction data. The central processing system comprises a CPU for checking with the transaction data on the outstanding transaction file whether a predetermined period of indulgence has elapsed from the date of each transaction. The sum of transaction involving lapse of the indulgence period and included in the transaction data on the outstanding transaction file is withdrawn from the corresponding user account on the account file and stored in the corresponding store account thereon.

REFERENCES:
patent: 3852571 (1974-12-01), Hall et al.
patent: 4321672 (1982-03-01), Braun et al.
patent: 4472626 (1984-09-01), Frid

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