Registers – Systems controlled by data bearing records – Banking systems
Patent
1996-09-06
1998-12-29
Pitts, Harold
Registers
Systems controlled by data bearing records
Banking systems
235380, G06F 1760
Patent
active
058545816
DESCRIPTION:
BRIEF SUMMARY
TECHNICAL FIELD
The present invention relates to a transaction processing system where funds are transferred through an electronic message between a host computer and an IC (integrated circuit) card via the IC card which accesses to the applicable account controlled by the host computer.
BACKGROUND TECHNOLOGY
Up to now, there have been transaction processing systems where the transaction processing is carried out by using IC cards where the following item is stored, i.e., information showing monetary values (hereafter referred to as "Electronic Money"), etc. The following describes a case when customers transact and process their accounts controlled, by for example, financial institutions by such a transaction processing system.
Electronic money, an IC card issuer's number, an IC card number, an account number of the IC card holder (hereafter referred to as "Customer"), and information such as a password of the customer, and a program for operating the transaction processing by using the IC card, are stored in the IC card used in the transaction processing system. The customer puts his (her) IC card into an automated teller machine (hereafter referred to as "ATM") of financial institutions, and accesses to the host computer connected on-line with the ATM. The host computer specifies the account number on the basis of information from the IC card, and inputs or outputs electronic money equivalent to an amount of money transacted between the account number and the IC card through the ATM. The transaction processing is carried out by doing so in the transaction processing system.
However, such transaction processing systems did not succeed easily, because they possess the following problems.
The first problem was that it was very difficult to keep a secret on a mechanism where the transaction machine generates electronic money and writes its amount in the IC card. The transaction machine is a product manufactured by many manufacturers related to each other. For this reason, these manufacturers were likely to know this secret. As described above, the transaction machine can generate electronic money and can write its amount in the IC card, and is a general-purpose product which a third party can operate. For this reason, the third party was likely to disassemble the transaction processing system and to analyze its mechanism for the purpose of falsifying the information stored in IC cards. Accordingly, it was impossible to ensure the security of the transaction machine at the same high level as that of the host computer. Because of these reasons, it was necessary for IC card issuers to strictly carry out credit investigation on customers, and it was difficult to simplify the business. Also, customers rejected as a result of the credit investigation, did not use any transaction machines using IC cards such as POS (point of sales) system, vending machines, etc., of retail stores, because they cannot hold any IC cards.
The second problem was that the transaction processing of the IC cards complicated the settlement of accounts in financial institutions. That is, the transaction processing increases the number of procedures for checking the amount of funds transferred by receiving and paying money through electronic money as well as through cash at each branch of the financial institutions. The amount of such funds through electronic money is controlled by complex processes, and there was little room for decreasing the number of these complex processes by means of ideas of only financial institutions. Therefore, it was difficult for these financial institutions to simplify their businesses.
The third problem was that direct transaction processing between IC cards and the host computer would impose a very heavy burden on the host computer. For this reason, only a small number of cases were transacted and processed even by using a host computer with high processing capability.
SUMMARY OF THE INVENTION
A transaction processing system comprising a host computer, a transaction machine, a first card for customers,
REFERENCES:
patent: 4752677 (1988-06-01), Kakono et al.
patent: 4877947 (1989-10-01), Mori
Hamasaki Satoshi
Koshida Yoshinori
Mori Tohru
Suto Sinichi
Tanabe Shusaku
OKI Electric Industry Co., Ltd.
Pitts Harold
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