Combined credit/debit card and associated payment authorization/processing method

• US 20050240527A1
• Filed: 04/26/2004
• Published: 10/27/2005
• Est. Priority Date: 04/26/2004
• Status: Abandoned Application

• Current Assignee: Daniel Goldman
• Original Assignee: Daniel Goldman
• Inventors: Goldman, Daniel
• Application Number:
  US10/832,567
• Publication Number:
  US 20050240527A1
• Time in Patent Office: Days
• US Class Current: 705/44
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/227 characterised in that multiple accounts are available, e.g. to the payer
• CPC Class Codes: G06Q 20/341 Active cards, i.e. cards including their own processing means, e.g. including an IC or chip
• CPC Class Codes: G06Q 20/357 Cards having a plurality of specified features
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G07F 7/1008 Active credit-cards provided with means to personalise their use, e.g. with PIN-introduction/comparison system
• CPC Class Codes: G07F 7/1025 Identification of user by a PIN code

Abstract

A novel charge card is a combined debit and credit card. The customer is offered an election of a credit feature or of debit feature. If debit is selected, the customer enters a personal identifier (e.g., a PIN). In the further transaction, the novel process investigates the authorization request to determine whether or not a PIN field contains a PIN value or any field or field entry that may indicate that a “personal identification indicator” was entered at the point of sale. If a personal identifier is present, the transaction is authorized against the available balance in the customer'"'"'s debit (e.g., checking) account. If the PIN is absent, the transaction is authorized against the available credit on a connected line of credit. In an alternative implementation, the customer is offered an election of a credit feature or of debit feature. In both selections, the customer enters a personal identifier. In the further transaction, the novel process investigates the authorization request to determine whether or not the PIN field contains a value indicating that an identifier was entered at the point of sale. If a PIN is present, the payment authorization message is further investigated to determine whether the “Credit” option or “Debit” option was selected. If “Debit” was selected, the transaction is authorized against the available balance in the customer'"'"'s debit (e.g., checking) account. If “Credit” was selected, or if the PIN is absent, the transaction is authorized against the available credit on a connected line of credit.

Claims

1. A payment authorization method, which comprises:

gathering, at a merchant'"'"'s, account information for payment of a customer'"'"'s purchase;

prompting the customer to select a debit purchase option or a credit purchase option and, if the debit purchase option is selected, prompting for an entry of a personal identifier relating to the customer;

transmitting an authorization request to a financial authorization system requesting payment authorization for the customer'"'"'s purchase, the authorization request including the account information, and if the debit purchase option is selected, the personal identifier;

checking whether or not the authorization request includes the personal identifier, and;

if the authorization request includes the personal identifier, processing the purchase as a debit purchase; and

if the authorization request does not include the personal identifier, processing the purchase as a credit purchase.

2. The method according to claim 1, wherein the gathering step comprises swiping a card presented by the customer and containing the account information.

3. A payment authorization method, which comprises:

gathering, at a merchant'"'"'s, account information for payment of a customer'"'"'s purchase;

prompting the customer to select a debit purchase option or a credit purchase option and prompting for an entry of a personal identifier relating to the customer;

transmitting an authorization request to a financial authorization system requesting payment authorization for the customer'"'"'s purchase, the authorization request including the account information and the personal identifier;

checking whether the debit purchase option or the credit purchase option has been selected at the merchant'"'"'s; and

processing the purchase as a debit purchase or a credit purchase in dependence on the option chosen at the merchant'"'"'s.

4. The method according to claim 3, wherein the gathering step comprises swiping a card presented by the customer and containing the account information.

5. The method according to claim 3, which comprises processing the purchase as a credit purchase if the authorization request does not include the personal identifier.

6. A computer-readable medium having stored thereon a data structure, comprising:

a first field containing data representing enablement to effect an online debit transaction;

a second field containing data representing enablement to effect a credit transaction; and

a third field containing data for offering a user to select the debit transaction or the credit transaction.

7. The computer-readable medium according to claim 6 configured as a combined debit and credit card for use in an associated financial transaction system.

8. The computer-readable medium according to claim 7, wherein said first, second, and third fields are contained in a storage medium such as a magnetic stripe on a plastic card.