System and Method for Secure Electronic Tender

• US 20140058858A1
• Filed: 02/12/2013
• Published: 02/27/2014
• Est. Priority Date: 02/12/2012
• Status: Active Grant

• Current Assignee: Joseph Stecewycz
• Original Assignee: Joseph Stecewycz
• Inventors: Stecewycz, Joseph
• Granted Patent: US 10,453,055 B2
• Time in Patent Office: Days
• US Class Current: 705/17
• CPC Class Codes: G06K 19/0725 the arrangement being a circuit for emulating a plurality of record carriers, e.g. a single RFID tag capable of representing itself to a reader as a cloud of RFID tags
• CPC Class Codes: G06Q 20/0655 e-cash managed centrally
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/204 comprising interface for record bearing medium or carrier for electronic funds transfer or payment credit
• CPC Class Codes: G06Q 20/28 Pre-payment schemes, e.g. "pay before"
• CPC Class Codes: G06Q 20/352 Contactless payments by cards
• CPC Class Codes: G06Q 20/3572 Multiple accounts on card
• CPC Class Codes: G06Q 20/382 insuring higher security of transaction
• CPC Class Codes: G06Q 20/405 Establishing or using transaction specific rules
• CPC Class Codes: G06Q 20/409 Device specific authentication in transaction processing
• CPC Class Codes: G07F 7/0806 Details of the card record carriers per se G06K

Abstract

A secure tender electronic card for use in purchasing a service or a commodity comprises: a plastic substrate; at least two radio frequency identifications (RFIDs) embedded within the plastic substrate, the RFIDs including: a card code RFID with an identification chip having embedded therein an electronic card identification code associated with a card account file resident in a remote server, the card account file including a beneficiary code and a card usage parameter; and a tender RFID with a tender chip having embedded therein a code associated with at least some of the monetary value of the electronic card.

Claims

1. A secure tender electronic card having monetary value suitable for use in purchasing a service or a commodity, said electronic card comprising:

a plastic substrate;

at least two radio frequency identifications (RFIDs) embedded within said plastic substrate, said at least two RFIDs including;

a card code RFID with an identification chip, said identification chip having embedded therein an electronic card identification code associated with a card account file resident in a remote server, said card account file including a beneficiary code and a card usage parameter; and

a tender RFID with a tender chip having embedded therein a code associated with at least some of the monetary value of said electronic card.

2. The electronic card of claim 1 further comprising an expiration date for said electronic card, said expiration date associated with said electronic card identification code.

3. The electronic card of claim 2 wherein said expiration date is selected by a user of said electronic card.

4. The electronic card of claim 2 wherein a beneficiary associated with said beneficiary code is credited with monetary value remaining in said electronic card when said expiration date has been reached.

5. The electronic card of claim 1 wherein said usage parameter comprises a member of the group consisting of:

a valid transaction amount, a valid transaction time interval, an approved vendor, an approved commodity, and an approved service.

6. The electronic card of claim 5 wherein said usage parameter is specified by a user of said electronic card.

7. The electronic card of claim 1 wherein said tender RFID is associated with a plurality of distributed deposit accounts.

8. A secure tender electronic card system comprising:

a secure tender electronic card server having a card account file, said card account file associated with an electronic card identification code, said card account file having stored therein a usage parameter;

a secure tender electronic card having a first radio frequency identification (RFID) with an identification chip and a second RFID with a tender chip, said identification chip having stored therein said electronic card identification code, said tender chip associated with a monetary value assigned to said secure tender electronic card;

an RFID card reader operative to read said electronic card identification code; and

a point-of-sale electronic terminal in communication with said RFID card reader and with said secure tender electronic card server, said point-of-sale electronic terminal operative to retrieve said electronic card identification code from said RFID card reader and transmit said electronic card identification code to said secure tender electronic card server, said point-of-sale electronic terminal further operative to retrieve said usage parameter from said secure tender electronic card server.

9. The secure tender electronic card system of claim 8 wherein said point-of-sale electronic terminal processes a monetary transaction with said electronic card based on said retrieved usage parameter.

10. The secure tender electronic card system of claim 9 wherein said RFID card reader further functions to inactivate said tender chip in response to a processed monetary transaction.

11. A method of conducting a secure monetary transaction, said method comprising the steps of:

presenting a secure tender electronic card as payment for at least one of a service or a commodity;

reading a radio frequency identification chip in said secure tender electronic card so as to retrieve a card usage parameter associated with said secure tender electronic card, said identification chip having embedded therein an electronic card identification code associated with a card account file resident in a remote server;

if said card usage parameter is met under the monetary transaction, executing the secure monetary transaction so as to provide at least one of said service or said commodity to a user of said secure tender electronic card; and

,

if said card usage parameter is not met under the monetary transaction, cancelling the secure monetary transaction.

12. The method of claim 11 wherein said radio frequency identification chip comprises an electronic card identification code associated with a card account file resident in said remote server

13. The method of claim 11 wherein said step of reading said radio frequency identification chip comprises the steps of:

(i) transmitting said electronic card identification code to said remote server, (ii) accessing a card account file in said remote server, said card account file associated with said electronic card identification code, and (iii) retrieving said card usage parameter from said card account file.