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Transferring information between transaction networks

  • US 5,621,796 A
  • Filed: 09/30/1994
  • Issued: 04/15/1997
  • Est. Priority Date: 09/30/1994
  • Status: Expired due to Fees
First Claim
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1. A stored value transaction system having a plurality of value storing transfer devices, comprising:

  • first and second stored value transaction networks, each network including;

    a plurality of value transferring devices including a value distributing device for distributing cash-equivalent value to a user and a value collecting device for collecting cash-equivalent value from a user, each value transferring device including a memory for storing value transfer information corresponding to each transfer;

    a consolidation device for periodically receiving the stored value transfer information from the memory of at least one of the value transferring devices, the consolidation device including a first memory for storing the received value transfer information, a processor for consolidating the received value transfer information into consolidated information, and a second memory for storing the consolidated information; and

    a network settlement device coupled to the consolidation device for receiving the consolidated information from the second memory of the consolidation device, the network settlement device including a first memory for storing the received consolidation information, a processor for performing settlement according to at least a portion of the consolidated information to produce settlement information, and a second memory for storing the settlement information; and

    an internetwork network device coupled to the first and second networks for interfacing the first and second networks and for receiving at least a portion of the consolidation information from the first memory of the network settlement device of each of the first and second networks, the internetwork network device including a first memory for storing the received consolidation information and a processor for transmitting at least a portion of the received consolidation information from the first network to the second network and at least a portion of the received consolidation information from the second network to the first network.

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