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Multiple accounts and purposes card method and system

  • US 20020174016A1
  • Filed: 04/02/2002
  • Published: 11/21/2002
  • Est. Priority Date: 06/16/1997
  • Status: Abandoned Application
First Claim
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1. A method and system for the sale, dispensing or delivering validating and activating a multiple accounts and purposes versatile single card, credit or debit card, the magnetic-only variety cards and or the “

  • Smart”

    cards-wallet-size electronic payment cards with embedded microchips, with or without an attached or associated bank savings account opened by the issuing bank, comprising;

    A) A plurality of computerized terminals as on site point-of-sale (POS), “

    Smart”

    cards-wallet-size electronic payment cards with embedded microchips or Smart cards readers, and automated teller machines (ATM) located at participating banks, merchant store and service providers, authorized entity or an issuing bank, including first computer means with associated first storage means that further includes input and output means for entering data from merchant, and from purchaser pertaining to him or her, the issuing bank and the particulars of the transaction in said first storage means, said first input means includes a keypad assembly and further including means for funds validation and the use of the card through said input means so that a line of credit is computed by first computer means and storage in said first storage means with a validation signal and a block of data is assembled including the option of a new savings account opening and readiness for transmission;

    B) Means for dispensing or delivering an issue a credit or debit card for each transaction, and each of said cards including means for storing a unique identification numbers, personal identification number, login IDs, and/or passwords, said cards being dispensed and or delivered by hand or through computerized terminals and validated only after a first predetermined number of conditions have been met and said validation signal is received from the issuer. C) A remotely located computerized clearing house assembly, including second computer means, second input and output means for receiving and sending said block of information so that the line of credit, the prepaid stored value amount, or the bank account affixed to the debit card to withdraw from authorization, to the issuer or pre-approved by the issuer is entered for each said unique identification numbers; and

    D) network means for connecting said computerized assembly to said clearing house assembly.

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