Network settlement performed on consolidated information

• US 5,596,643 A
• Filed: 01/03/1996
• Issued: 01/21/1997
• Est. Priority Date: 09/30/1994
• Status: Expired due to Fees

• Current Assignee: Touch Technologies Incorporated
• Original Assignee: Electronic Payment Services, Inc. (Fiserv Incorporated)
• Inventors: Davis, Terry L., Hart, James A., Sears, John W., Russell, James F., Trice, Philip H.
• Primary Examiner(s): CANGIALOSI, SALVATORE A
• Application Number:
  US08/581,012
• Time in Patent Office: 384 Days
• Field of Search: 380/20, 380/24, 380/25, 380/30, 235/379, 235/380
• US Class Current: 705/68
• CPC Class Codes: G06Q 20/02 involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
• CPC Class Codes: G06Q 20/023 the neutral party being a clearing house
• CPC Class Codes: G06Q 20/027 involving a payment switch or gateway
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/229 Hierarchy of users of accounts
• CPC Class Codes: G06Q 20/341 Active cards, i.e. cards including their own processing means, e.g. including an IC or chip
• CPC Class Codes: G06Q 20/363 with the personal data of a user
• CPC Class Codes: G06Q 20/3676 Balancing accounts
• CPC Class Codes: G06Q 20/3825 Use of electronic signatures
• CPC Class Codes: G06Q 20/401 Transaction verification
• CPC Class Codes: G07F 7/0866 by active credit-cards adapted therefor G07F7/1008 takes precedence
• CPC Class Codes: G07F 7/1008 Active credit-cards provided with means to personalise their use, e.g. with PIN-introduction/comparison system

Abstract

A system for determining value in a stored value transaction system has a plurality of value storing devices. A first network consolidation device is provided for receiving stored value information from at least one of the value storing transfer devices and summarizing the received stored value information to provide a first consolidated portion of the received stored value information. A first network settlement device coupled to the first network consolidation device receives the first consolidated portion and performs settlement of the first stored value transaction network in accordance with the first consolidated portion. Further network consolidation devices each have stored value information and apply a consolidated portion of their stored value information to the first network settlement device whereby a plurality of consolidated portions are applied to the first network consolidation device. The first network settlement device performs settlement of the first stored value transaction network in accordance with the plurality of consolidated portions. A differing portion of the received stored value information is transferred to a storage device.

Claims

1. A system for determining value in a stored value transaction system having a plurality of value storing transfer devices, comprising:

a first stored value transaction network including a first network consolidation device for receiving stored value information from at least one value storing transfer device of said plurality of value storing transfer devices and summarizing said received stored value information to provide a first consolidated portion of said received stored value information;

wherein said value storing transfer devices comprise data encryption devices including an encryption key common to said data encryption devices in said first stored value transaction network; and

a first network settlement device coupled to said first network consolidation device for receiving said first consolidated portion and performing network settlement of said first stored value transaction network in accordance with said first consolidated portion.

2. A system for determining value in a stored value transaction system having a plurality of value storing transfer devices, comprising:

a first stored value transaction network including a first network consolidation device for receiving stored value information from at least one value storing transfer device of said plurality of value storing transfer devices and summarizing said received stored value information to provide a first consolidated portion of said received stored value information;

a first network settlement device coupled to said first network consolidation device for receiving said first consolidated portion and performing network settlement of said first stored value transaction network in accordance with said first consolidated portion;

a second stored value transaction network including a second network settlement device and a second network consolidation device coupled to said second network settlement device, said second network consolidation device receiving stored value information and applying a second consolidated portion of said received stored value information to said second network settlement device; and

an internetwork device coupled to said first and second network settlement devices for receiving said first and second consolidated portions from said first and second network settlement devices, wherein each of said first and second stored value transaction networks comprises a respective plurality of value storing transfer devices, each value storing transfer device having an individual data encryption device.

3. The system for determining value in a stored value transaction system of claim 2, wherein the data encryption devices of each network of said first and second networks have a common encryption key.