Credit card processing system
First Claim
1. A credit card processing system comprising:
- (a) a credit card of the type carrying a magnetic stipe into which is encoded an identification of the issuer institution and the account number of the card holder;
(b) a merchant'"'"'s sales slip bank copy having imprinted thereon an identification of said merchant and the date of the transaction represented by said sales slip;
(c) a machine adapted to receive said credit card and said bank copy;
(d) said machine, comprising a printer for printing MICR characters onto an edge of said bank copy;
a magnetic stripe reader;
a date keyboard section;
a monetary amount keyboard section; and
a plurality of movable punch members each located in one of the optional ABA standards positions with respect to said edge of said bank copy;
each of said positions being preselected to define the nature of the transaction recorded on said bank copy;
(e) means for selecting any one of said punch members to be moved into a punch out operation on said bank copy and for moving the punch member so selected into such operation to produce a punch-out at one of said preselected positions on said edge;
(f) said magnetic stripe reader being adapted to read the information encoded in said magnetic stripe and supplying said information to said printer;
(g) said printer being adapted to print, in MICR characters along said edge, the information supplied to it by said magnetic stripe reader;
(h) said date keyboard section being adapted to transmit to said printer the date information inserted into said keyboard section; and
said printer also being adapted to print said information in other of said optional ABA standards positions adjacent the positions reserved for such punches; and
(i) said amount keyboard section being adapted to transmit to said printer the amount inserted into said amount keyboard section and said printer also being adapted to print such amount onto said edge.
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Accused Products
Abstract
A credit card processing system involving the use of a machine for reading the data encoded in the magnetic stripe of such a card and for printing such data in MICR characters, at the point of sale, along the bottom of the merchant'"'"'s bank sales slip copy of each transaction under the credit card. The machine also has means for selecting any one of four punches for making a punch out in said bank copy in any one of four predetermined optional ABA standards positions to designate the transaction as a credit or charge transaction and whether it is to be processed by EDP or EFT procedures. The system also includes all of the various instrumentalities necessary to process each transaction, guided by the punch out information, through the merchant'"'"'s bank, the clearing house, and the issuer institution for final posting and billing.
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Citations
5 Claims
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1. A credit card processing system comprising:
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(a) a credit card of the type carrying a magnetic stipe into which is encoded an identification of the issuer institution and the account number of the card holder; (b) a merchant'"'"'s sales slip bank copy having imprinted thereon an identification of said merchant and the date of the transaction represented by said sales slip; (c) a machine adapted to receive said credit card and said bank copy; (d) said machine, comprising a printer for printing MICR characters onto an edge of said bank copy;
a magnetic stripe reader;
a date keyboard section;
a monetary amount keyboard section; and
a plurality of movable punch members each located in one of the optional ABA standards positions with respect to said edge of said bank copy;
each of said positions being preselected to define the nature of the transaction recorded on said bank copy;(e) means for selecting any one of said punch members to be moved into a punch out operation on said bank copy and for moving the punch member so selected into such operation to produce a punch-out at one of said preselected positions on said edge; (f) said magnetic stripe reader being adapted to read the information encoded in said magnetic stripe and supplying said information to said printer; (g) said printer being adapted to print, in MICR characters along said edge, the information supplied to it by said magnetic stripe reader; (h) said date keyboard section being adapted to transmit to said printer the date information inserted into said keyboard section; and
said printer also being adapted to print said information in other of said optional ABA standards positions adjacent the positions reserved for such punches; and(i) said amount keyboard section being adapted to transmit to said printer the amount inserted into said amount keyboard section and said printer also being adapted to print such amount onto said edge. - View Dependent Claims (2, 3, 4, 5)
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Specification