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Credit card system including a central unit and a plurality of local units for conducting low-cost transactions

  • US 5,206,488 A
  • Filed: 06/07/1989
  • Issued: 04/27/1993
  • Est. Priority Date: 06/07/1989
  • Status: Expired due to Term
First Claim
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1. A credit card system for a plurality of subscribers each having a subscriber account and a credit card identifying the subscriber'"'"'s account, comprising:

  • a central unit and a plurality of local units communicating with said central unit;

    said central unit including a central storage device for each subscriber'"'"'s account for storing amounts to be charged to the respective subscriber'"'"'s accounts;

    each of said local units including;

    a plurality of local storage devices assignable to said subscriber'"'"'s accounts;

    at least one card reader for receiving a subscriber'"'"'s card when inserted therein to order a transaction involving the sale of a product or service, and for identifying the subscriber'"'"'s account;

    an Open-Account means enabling a subscriber of the central unit, upon inserting the subscriber'"'"'s card into the card reader of the local unit, to open a local account in the respective local unit, to be assigned a local storage device, and to transfer and store a predetermined amount from the subscriber'"'"'s account at the central storage device to the subscriber'"'"'s local storage device;

    validating means for comparing the cost of the ordered transaction with the amount stored in the subscriber'"'"'s local storage device, and for validating the transaction if said cost does not exceed said stored amount by a specified permitted sum; and

    means effective upon validating the transaction for subtracting the cost thereof from the amount stored in the subscriber'"'"'s local storage device.

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