Funds transfer system
First Claim
1. A method of transferring funds including the steps of:
- linking a first portable data storage and processing device to a first financial institution, the first portable data storage device storing at least a portion of a program;
debiting an account held at the financial institution and recording a corresponding credit value in the first portable data storage and processing device;
linking the first portable data storage device to a second, similar device via a terminal means, the second portable data storage device storing at least a portion of a program which is run in a synchronized, interactive manner with the portion of the program stored in the first portable data storage device;
reducing the credit value in the first device and recording a corresponding credit value in the second device;
linking the second portable data storage and processing device to a second financial institution;
reducing the credit value in the second device;
and recording a corresponding credit value in an account held at the second financial institution.
1 Assignment
0 Petitions
Accused Products
Abstract
A method of transferring funds includes the steps of linking a first "smart card" to a first financial institution, debiting an account held at the financial institution and recording a corresponding credit value in the first smart card. The first smart card is then linked to a second, similar device, the credit value in the first device is reduced, and a corresponding credit value is recorded in the second device. The second device is then linked to a second financial institution, the credit value in the second device is reduced, and a corresponding credit value is recorded in an account held at the second financial institution. The first and second devices each store at least a portion of a program which is run in a synchronized interactive manner between the first devices. The invention extends to a system for implementing the method.
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Citations
12 Claims
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1. A method of transferring funds including the steps of:
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linking a first portable data storage and processing device to a first financial institution, the first portable data storage device storing at least a portion of a program; debiting an account held at the financial institution and recording a corresponding credit value in the first portable data storage and processing device; linking the first portable data storage device to a second, similar device via a terminal means, the second portable data storage device storing at least a portion of a program which is run in a synchronized, interactive manner with the portion of the program stored in the first portable data storage device; reducing the credit value in the first device and recording a corresponding credit value in the second device; linking the second portable data storage and processing device to a second financial institution; reducing the credit value in the second device; and recording a corresponding credit value in an account held at the second financial institution. - View Dependent Claims (2, 3, 4, 5, 6, 7)
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8. A system for transferring funds including:
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first and second portable data storage and processing devices, each storing at least a portion of a program which is run in a synchronized, interactive manner between the first and second devices; first terminal means for linking the first device to a first financial institution; second terminal means for linking the second device to a second financial institution; and third terminal means adapted to receive the first and second devices and to permit data transfer between them, so that a credit value stored in the first device which corresponds to a debit from an account held at the first financial institution can be reduced by a desired amount and a corresponding credit value can be recorded in the second device, the second device being adapted to transfer the credit value stored therein to an account held at the second financial institution. - View Dependent Claims (9, 10, 11, 12)
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Specification