Transaction card system and approach

Details Transaction card system and approach Transaction card system and approach

2004-12-21

2008-07-15

Lee, Seung H (Department: 2887)

Registers

Systems controlled by data bearing records

Credit or identification card systems

C235S379000, C705S039000

Reexamination Certificate

active

07398919

ABSTRACT:
A deferred-type payment approach facilitates transaction card management and processing. According to an example embodiment, a user's transaction card purchases are authorized against a purchase limit associated with a consideration-bearing (e.g., interest-bearing) account. The purchases are tracked and, at the end of a billing cycle, provided to the user via a statement or other informative approach. During a payment time period after the end of the billing cycle, the user is afforded an opportunity to review tracked purchases and provide funds to cover the purchases. If the user does not provide funds for the purchases during the payment time period, funds are automatically transferred from the consideration-bearing account to cover the purchases at the end of the payment time period. In this regard, purchases made with the transaction card against the consideration-bearing account are not assessed against the consideration-bearing account until after the billing cycle has ended.

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