PORTABLE CHANGE DEVICE

• US 20110073641A1
• Filed: 09/28/2009
• Published: 03/31/2011
• Est. Priority Date: 09/28/2009
• Status: Abandoned Application

• Current Assignee: Christos E. Vrahnos
• Original Assignee: Christos E. Vrahnos
• Inventors: Vrahnos, Christos E.
• Application Number:
  US12/568,104
• Publication Number:
  US 20110073641A1
• Time in Patent Office: Days
• US Class Current: 235/379
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/347 Passive cards
• CPC Class Codes: G06Q 20/363 with the personal data of a user

Abstract

A method of conducting a monetary transaction is provided. The method includes the step of receiving a portable device that corresponds with a financial account, where the financial account includes a financial account monetary value. The information regarding the financial account is stored on a network device. A predetermined amount of monetary units are exchanged for a purchase at a point of sale, where the purchase includes a purchase price that is measured in monetary units. The predetermined amount of monetary units are subtracted from the purchase price to determine a change amount, where the change amount is measured in at least one of a banknote value and a coin value. Data associated with the coin value of the change amount is saved to the financial account, and the financial account is credited with the coin value of the change amount.

Claims

1. A method of conducting a monetary transaction, comprising:

receiving a portable device that corresponds with a financial account, the financial account including a financial account monetary value, wherein information regarding the financial account is stored on a network device;

exchanging a predetermined amount of monetary units for a purchase at a point of sale, the purchase including a purchase price that is measured in monetary units;

subtracting the predetermined amount of monetary units from the purchase price to determine a change amount, the change amount measured in at least one of a banknote value and a coin value; and

saving data associated with the coin value of the change amount to the financial account on the network device, where the financial account is credited with the coin value of the change amount.

2. The method as recited in claim 1, further comprising the step of charging a predetermined fee to the financial account when the financial account is credited with the coin value of the change amount.

3. The method as recited in claim 1, further comprising the step of subtracting a second purchase price from the financial account, the second purchase price corresponding to a second purchase.

4. The method as recited in claim 3, wherein a predetermined fee is charged to the financial account when the second purchase price is subtracted from the financial account.

5. The method as recited in claim 1, further comprising the step of displaying the financial account monetary value on the portable device.

6. The method as recited in claim 5, wherein the portable device includes a digital screen for displaying the financial account monetary value.

7. The method as recited in claim 1, wherein the portable device is one of a magnetic swipe card, a radio frequency identification card, an integrated circuit card, a barcode device, and an authentication token.

8. The method as recited in claim 1, wherein the financial account monetary value is measured in U.S. dollars.

9. The method as recited in claim 8, wherein the change amount is less than one dollar.

10. The method as recited in claim 1, further comprising the step of converting the financial account monetary value from U.S. dollars to foreign currency.

11. A method of conducting a monetary transaction, comprising:

receiving a portable device that corresponds with a financial account, the financial account including a financial account monetary value, wherein information regarding the financial account is stored on a network device;

exchanging a predetermined amount of monetary units for a purchase at a point of sale, the purchase including a purchase price that is measured in monetary units;

subtracting the predetermined amount of monetary units from the purchase price to determine a change amount, the change amount measured in at least one of a banknote value and a coin value;

saving data associated with the coin value of the change amount to the financial account on the network device, where the financial account is credited with the coin value of the change amount; and

charging a predetermined fee to the financial account when the financial account is credited with the coin value of the change amount.

12. The method as recited in claim 11, further comprising the step of subtracting a second purchase price from the financial account, the second purchase price corresponding to a second purchase.

13. The method as recited in claim 11, further comprising the step of displaying the financial account monetary value on the portable device.

14. A system for conducting a monetary transaction, comprising:

a financial account including a financial account monetary value;

a portable device corresponding with the financial account;

a point of sale for exchanging a predetermined amount of monetary value for a purchase, the purchase including a purchase price;

a computer network storing the value of the financial account;

a communication device for reading and writing information from the computer network to the portable device, the communication device in communication with the portable device, the point of sale, and the computer network; and

a change amount measured in at least one of a banknote value and a coin value, wherein the change amount is determined by subtracting the predetermined amount of money from the purchase price;

wherein the financial account is credited with the coin value of the change amount by the communication device.

15. The system as recited in claim 14, wherein the portable device includes a digital screen for displaying the financial account monetary value.

16. The system as recited in claim 14, wherein the portable device is one of a magnetic swipe card, a radio frequency identification card, an integrated circuit card, a barcode device, and an authentication token.

17. The system as recited in claim 14, wherein the financial account monetary value is measured in U.S. dollars.

18. The system as recited in claim 17, wherein the change amount is less than one dollar.