Prepayment wristband and computer debit system

• US 20040056088A1
• Filed: 09/24/2003
• Published: 03/25/2004
• Est. Priority Date: 09/18/2002
• Status: Abandoned Application

• Current Assignee: Donald W. Mills Jr, Joseph M. Mullins
• Original Assignee: Donald W. Mills Jr, Joseph M. Mullins
• Inventors: Mullins, Joseph M., Mills, Donald W. Jr.
• Application Number:
  US10/669,447
• Publication Number:
  US 20040056088A1
• Time in Patent Office: Days
• US Class Current: 235/380
• CPC Class Codes: G06K 19/04 characterised by the shape
• CPC Class Codes: G06K 19/07762 the adhering arrangement making the record carrier wearable, e.g. having the form of a ring, watch, glove or bracelet record carriers for insertion in the human body for medical purposes A61B90/00; record carriers adapted for attachment to animals A01K11/00
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/28 Pre-payment schemes, e.g. "pay before"
• CPC Class Codes: G06Q 20/342 Cards defining paid or billed services or quantities
• CPC Class Codes: G06Q 20/403 Solvency checks
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G07F 7/025 by means, e.g. cards, providing billing information at the time of purchase, e.g. identification of seller or purchaser, quantity of goods delivered or to be delivered

Abstract

A financial transaction system that does not require the need for cash, checks or credit cards to carry out financial transactions. In return for prepayment of specified sum, a bar coded wristband is issued to a customer. On issuance of the wristband, a data base record is created that is cross-referenced with the bar code number, as well as an account number, an issue date and a present balance of the account. When the user wishes to purchase goods or services, the bar code of the wristband is scanned, and the amount of the transaction is then placed into the system. The corresponding account is debited. The wristband is constructed so as to be waterproof, and includes an adhesive strip with small tear strips for fastening around the user'"'"'s wrist. An attempted removal of the wristband is effective to substantially destroy it and render it unusable to other persons.

Claims

1. A transaction system, comprising:

a plurality of articles, each being attachable to a user in such a manner that the article cannot be readily removed, said article bearing an identification and having substantially no exchange monetary value, and said article being usable for financial transactions;

a computerized accounting system maintaining an account associated with each said article, said system being programmed to accept said identification of an article and accept in association therewith a monetary value of a transaction involving the article bearing the identification, for arithmetically adjusting a balance maintained in the computerized accounting system in association with the article identification.

2. The transaction system of claim 1, wherein said article is attachable to the body of the user and not to the user'"'"'s clothing.

3. The transaction system of claim 1, wherein said article is constructed so as to be attachable to the user and not removable so as to be reused by another person.

4. A method of carrying out financial transactions, comprising the steps of:

issuing a wristband having an identification thereon;

inputting the wristband identification into a computer data base;

associating the wristband identification in the data base with an account;

in response to a request for the purchase of goods or services by a user of the wristband, inputting the wristband identification into the computer data base and debiting the account in the data base by the requested purchase amount of the goods or services.

5. The method of claim 4, further including inputting the wristband identification into the computer data base by scanning a bar code on the wristband.

6. The method of claim 4, wherein each wristband issued has a unique identification thereon.

7. The method of claim 6, further including associating a plurality of different wristband identifications in the data base with a single account number.

8. The method of claim 4, further including constructing the wristband in such a manner that removal thereof from a user renders the wristband unattachable to another user.

9. The method of claim 8, further including forming a plurality of slits in the wristband to define lines of weakness.

10. The method of claim 5, further including forming plural identical bar codes on the wristband for facilitating the scanning thereof while on the wrist of a user.

11. The method of claim 4, further including associating the wristband with a calendar date in the data base during a first scan thereof, and validating subsequent transactions using the wristband only on the calendar date.

12. The method of claim 11, further including comparing a wristband calendar date in the data base with a transaction date, and if there is a difference, preventing an associated transaction from taking place.

13. The method of claim 4, further including providing a human readable identification and a machine readable identification on the wristband.

14. The method of claim 4, further including prohibiting purchase transactions of goods or services when the requested purchase amount is greater than a balance in the data base associated with the wristband identification.

15. The method of claim 4, further including comparing a transaction amount with a current balance of the account and allowing a financial transaction to be carried out if the transaction amount exceeds the current balance of the account.

16. The method of claim 15, further including programming a threshold amount in association with the current balance, and accepting a first level of authorization if the transaction amount is less than the threshold amount, and accepting a second level of authorization if the transaction amount is greater than the threshold amount.

17. The method of claim 4, further including associating the wristband identification in the data base with a credit card number and a name of the user.

18. The method of claim 4, further including providing a plurality of transaction stations coupled to the data base, each transaction station having a bar code reader and a cash register.

19. A transaction system, comprising:

a wristband attachable to the wrist of a person, said wristband providing an identification;

a reader for reading the identification of the wristband;

a computer system programmed to receive the identification and associate the identification with an account number; and

said computer system being programmed so as to be responsive to receipt of the identification for accessing the account number and debiting the account according to a transaction cost, and providing a resulting current balance of the account number, whereby financial transactions can be carried out without using cash.

20. The transaction system of claim 19, wherein said wristband is constructed so as to be nonremovable from the person without substantial destruction thereof.

21. The transaction system of claim 19, wherein said wristband is constructed so as to be nonattachable to another person once removed.

22. The transaction system of claim 20, wherein said wristband has formed therein at least one area of weakness for tearing when removal of the wristband from the person is attempted.

23. The transaction system of claim 19, further including a plurality of transaction stations, and wherein said computer system is coupled to the plurality of transaction stations, each having a reader for reading the identification of the wristband, and a device to input transaction data into the computer system.

24. The transaction system of claim 19, further including at least one first type transaction station coupled to the computer system for issuing the wristband and inputting the identification thereon into the computer system, and associating the account with the wristband identification, and including at least one transaction station of a second type coupled to the computer system for carrying out financial transactions by inputting the identification of the wristband and a corresponding transaction amount into the computer system for the payment of goods or services.

25. The transaction system of claim 19, wherein said identification comprises a bar code.

26. A transaction system, comprising:

a wristband having

at least one bar code formed thereon,

an adhesive patch for attaching the wristband around the wrist of a person,

lines of weakness formed on the wristband for destroying the wristband on attempted removal thereof,

a human readable number,

a computer accounting system including

a data base for storing financial and associated data,

a first type transaction station for issuing wristbands in exchange for prepayment amounts, and for associating in the data base the bar codes and the prepayment amounts,

a second type transaction station for scanning the wristband bar codes in response to financial transactions, and forwarding to the data base the bar code number and a transaction amount,

a computer associated with the data base for subtracting the transaction amount from the prepayment amount and providing a resulting balance.

27. The transaction system of claim 26, wherein said wristband is constructed of paper coated with a waterproof coating.

28. The transaction system of claim 26, further including color coding of different types of said wristbands corresponding to different prepayment amounts.

29. The transaction system of claim 28, wherein said color coding corresponds to fixed amounts of prepayments and variable amounts of prepayments.

30. The transaction system of claim 26, wherein said computer accounting system is programmed to utilize a scanned bar code as an index to the data base to find a corresponding account associated with the wristband.