System and method for pseudo cash transactions

• US 5,913,203 A
• Filed: 10/03/1996
• Issued: 06/15/1999
• Est. Priority Date: 10/03/1996
• Status: Expired due to Fees

• Current Assignee: Jaesent Incorporated
• Original Assignee: Jaesent Incorporated
• Inventors: Wong, Jacob Y., Anderson, Roy L.
• Primary Examiner(s): MacDonald, Allen R.
• Assistant Examiner(s): Jeanty, Romain
• Application Number:
  US08/720,785
• Time in Patent Office: 985 Days
• Field of Search: 705/6, 705/39, 705/43, 705/44, 705/26, 380/24, 380/25, 380/4, 364/479.02
• US Class Current: 705/39
• CPC Class Codes: G06F 21/6254 by anonymising data, e.g. decorrelating personal data from the owner's identification
• CPC Class Codes: G06Q 20/06 Private payment circuits, e.g. involving electronic currency used among participants of a common payment scheme
• CPC Class Codes: G06Q 20/065 using e-cash
• CPC Class Codes: G06Q 20/085 involving remote charge determination or related payment systems
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/1085 involving automatic teller machines [ATMs]
• CPC Class Codes: G06Q 20/29 characterised by micropayments
• CPC Class Codes: G06Q 20/363 with the personal data of a user
• CPC Class Codes: G06Q 20/385 using an alias or single-use codes
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 20/401 Transaction verification
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 30/0609 Buyer or seller confidence or verification
• CPC Class Codes: G06Q 30/0615 Anonymizing
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G07F 7/0866 by active credit-cards adapted therefor G07F7/1008 takes precedence

Abstract

Totally anonymous or effectively anonymous cash-like transactions are accomplished by using a pseudo cash data package converter for inserting a user key into a pseudo cash preliminary data packet through the use of a user insertion key to generate a pseudo cash unit with a fixed monetary value that can be used to purchase goods or services via the Internet. A pseudo cash repository facilitates the cash-like transactions and maintains a record of the pseudo cash units and their fixed monetary value. Depending upon the level of anonymity selected by a purchaser, the pseudo cash repository can either transmit pseudo cash preliminary data packets or pseudo cash units to a first entity. If the first entity loses an effectively anonymous pseudo cash preliminary data packet, it can be replaced by the pseudo cash repository without risk of loss.

Claims

1. A system for providing pseudo cash transactions, comprising:

a pseudo cash dispenser for dispensing a pseudo cash preliminary data packet in exchange for a fixed monetary value;

a pseudo cash data packet converter for inserting a user key into the pseudo cash preliminary data packet through the use of a user insertion key to generate a pseudo cash unit;

a pseudo cash repository for maintaining a record of the pseudo cash unit and the fixed monetary value;

means for generating the record from the pseudo cash preliminary data packet, the fixed monetary value, the user key and the user insertion key in response to an exchange of the preliminary data packet to a first entity for the fixed monetary value; and

means for deactivation of the record and exchanging the fixed monetary value for receipt of the pseudo cash unit.

2. A system as recited in claim 1, wherein the pseudo cash dispenser dispenses the pseudo cash preliminary data packet to the first entity.

3. A system as recited in claim 2, wherein the pseudo cash preliminary data packet is dispensed by an automated teller machine.

4. A system as recited in claim 2, wherein the pseudo cash preliminary data packet is dispensed to the first entity over an electronic communication medium.

5. A system as recited in claim 1, wherein the pseudo cash preliminary data packet is a string of at least eight characters.

6. A system as recited in claim 1, wherein the user key is a second string of at least four characters.

7. A system as recited in claim 6, wherein the user insertion key is a third string of numeric characters that has an identical number of characters as the second string, each of the numeric characters of the third string being unique as compared to the other numeric characters of the third string.

8. A system as recited in claim 7, wherein the pseudo cash data packet converter inserts each character of the second string into the pseudo cash preliminary data packet at a location which corresponds to a corresponding numeric character of the third string to generate the pseudo cash unit.

9. A system as recited in claim 1, wherein the pseudo cash data packet converter is a computer program located in a computer.

10. A system for providing pseudo cash transactions between a first entity and a second entity via the Internet, comprising:

a pseudo cash dispenser for dispensing a pseudo cash preliminary data packet with a fixed monetary value to the first entity in a readable format;

a pseudo cash data packet converter for inserting a user key of the first entity into the pseudo cash preliminary data packet through the use of a user insertion key of the first entity to generate a pseudo cash unit;

a pseudo cash repository for maintaining a file associated with the pseudo cash unit and the fixed monetary value;

means for generating the file;

a first entity link to the Internet;

a second entity link to the Internet;

means for transferring the pseudo cash unit from the first entity link to the second entity link via the Internet;

a communication link between the second entity and the pseudo cash repository; and

means to deactivate the file and transfer the fixed monetary value from the pseudo cash repository to the second entity in response to transmission of the pseudo cash unit from the second entity to the pseudo cash repository via the communication link.

11. A system as recited in claim 10, further comprising:

means for transmitting the pseudo cash preliminary data packet from the pseudo cash dispenser to first entity link via the Internet.

12. A system as recited in claim 10, wherein the communication link is an electronic link via the Internet.

13. A system as recited in claim 10, wherein the pseudo cash preliminary data packet is a string of at least eight characters, the user key is a second string of at least four characters, and the user insertion key is a third string of numeric characters that has an identical number of characters as the second string, each of the numeric characters of the third string being unique as compared to the other numeric characters of the third string.

14. A system as recited in claim 10, wherein the file contains means for identifying the first entity.

15. A method for providing pseudo cash transactions, comprising:

generating a pseudo cash preliminary data packet;

generating a pseudo cash unit from the pseudo cash preliminary data packet by inserting a user key of a first entity into the pseudo cash preliminary data packet in accordance with a user insertion key of the first entity;

assigning a fixed monetary value to the pseudo cash unit;

dispensing the pseudo cash preliminary data packet from a pseudo cash dispenser to the first entity in exchange for the fixed monetary value received from the first entity;

regenerating the pseudo cash unit from the pseudo cash preliminary data packet by inserting the user key of the first entity into the pseudo cash preliminary data packet in accordance with the user insertion key of the first entity; and

exchanging the pseudo cash unit for the fixed monetary value.

16. A method as recited in claim 15, comprising the additional steps of:

creating a file in a pseudo cash repository which contains the pseudo cash unit and the fixed monetary value;

deleting the file in the pseudo cash repository when the pseudo cash unit is exchanged for the fixed monetary value.

17. A method as recited in claim 15, wherein the pseudo cash unit is generated by the first entity.

18. A method as recited in claim 15, wherein the pseudo cash unit is generated by a money repository for the first entity by use of the user key and the user insertion key of the first entity.

19. A method as recited in claim 18, comprising the addition steps of:

creating a file in a pseudo cash repository which contains the pseudo cash unit, the fixed monetary value and means for identifying the first entity;

deleting the file in the pseudo cash repository when the pseudo cash unit is exchanged for the fixed monetary value.

20. A method as recited in claim 19, comprising the additional step of:

maintaining a record of the exchange of the pseudo cash unit for the fixed monetary value that includes means for identifying the first entity and the identity of who exchanges the pseudo cash unit for the fixed monetary value.

21. A method as recited in claim 15, wherein the pseudo cash preliminary data packet is dispensed to the first entity by electronic means.

22. A method for providing pseudo cash transactions between a first entity and a second entity through use of a pseudo cash repository, comprising the steps of:

generating a pseudo cash preliminary data packet in the pseudo cash repository;

generating a pseudo cash unit in the pseudo cash repository from the pseudo cash preliminary data packet, a user key of the first entity and a user insertion key of the first entity by inserting the user key of the first entity into the pseudo cash preliminary data packet in accordance with an algorithm that uses the user insertion key of the first entity;

assigning a fixed monetary value to the pseudo cash unit by the pseudo cash repository;

generating a record of the pseudo cash unit and the fixed monetary value in the pseudo cash repository which is activated by transferring the fixed monetary value from the first entity to the pseudo cash repository and which remains active until it is deactivated by the pseudo cash repository;

dispensing the pseudo cash preliminary data packet from a pseudo cash dispenser to the first entity;

generating the pseudo cash unit from a pseudo cash data packet converter by inserting the user key of the first entity into the pseudo cash preliminary data packet in accordance with the algorithm that uses the user insertion key of the first entity;

transmitting the pseudo cash unit from the second entity to the pseudo cash repository;

verifying that the pseudo cash unit matches the record of the pseudo cash unit which is still active;

deactivating the record of the pseudo cash unit; and

transferring the fixed monetary value from the pseudo cash repository to the second entity.

23. A method as recited in claim 22, wherein the pseudo cash unit is generated by the pseudo cash repository by use of the user key and the user insertion key of the first entity which are stored in a first entity account file of the pseudo cash repository associated with the first entity.

24. A method as recited in claim 23, wherein the record of the pseudo cash unit includes means for identifying the first entity.

25. A method as recited in claim 24, wherein the fixed monetary value is transferred from the first entity to the pseudo cash repository by transferring the fixed monetary value from a monetary account associated with the first entity account file to the pseudo cash repository.

26. A method as recited in claim 25, wherein the pseudo cash preliminary data packet is dispensed to the first entity from a pseudo cash dispenser by an automated teller machine.

27. A method as recited in claim 25, wherein the pseudo cash preliminary data packet is dispensed to the first entity from a pseudo cash dispenser over an electronic communication medium.

28. A method as recited in claim 22, wherein the fixed monetary value is assigned to the pseudo cash unit as a result of a communication between the first entity and the pseudo cash repository.

29. A method as recited in claim 22, wherein the pseudo cash preliminary data packet is a string of at least eight characters.

30. A method as recited in claim 29, wherein the user key is a second string of at least four characters.

31. A method as recited in claim 30, wherein the user insertion key is a third string of numeric characters that has an identical number of characters as the second string, each of the numeric characters of the third string being unique as compared to the other numeric characters of the third string.

32. A method as recited in claim 22, wherein the pseudo cash data packet converter is a computer program located in a computer.

33. A method as recited in claim 32, wherein the algorithm is periodically revised.

34. A method as recited in claim 32, wherein the algorithm also inserts a fourth string of characters into the pseudo cash preliminary data packet.

35. A method as recited in claim 34, wherein the fourth string of characters identifies the pseudo cash repository.

36. A method as recited in claim 22, wherein the first entity and the second entity are the same.

37. A method as recited in claim 22, wherein the pseudo cash unit is transferred from the second entity to the pseudo cash repository over an electronic communication medium.

38. A method as recited in claim 22, wherein the pseudo cash unit is generated in the pseudo cash repository by the first entity.

39. A method for providing pseudo cash transactions, comprising:

generating a pseudo cash preliminary data packet;

generating a pseudo cash unit from the pseudo cash preliminary data packet by inserting a user key of a first entity into the pseudo cash preliminary data packet in accordance with a user insertion key of the first entity;

assigning a fixed monetary value to the pseudo cash unit;

dispensing the pseudo cash preliminary data packet from a pseudo cash dispenser to the first entity in exchange for the fixed monetary value received from the first entity;

regenerating the pseudo cash unit from the pseudo cash preliminary data packet by inserting the user key of the first entity into the pseudo cash preliminary data packet in accordance with the user insertion key of the first entity; and

exchanging the pseudo cash unit for the fixed monetary value;

wherein the pseudo cash preliminary data packet is dispensed to the first entity more than once.

40. A method as recited in claim 39, comprising the additional steps of:

creating a file in a pseudo cash repository which contains the pseudo cash unit and the fixed monetary value;

deleting the file in the pseudo cash repository when the pseudo cash unit is exchanged for the fixed monetary value.

41. A method as recited in claim 39, wherein the pseudo cash unit is generated by the first entity.

42. A method as recited in claim 39, wherein the pseudo cash unit is generated by a money repository for the first entity by use of the user key and the user insertion key of the first entity.

43. A method as recited in claim 42, comprising the addition steps of:

creating a file in a pseudo cash repository which contains the pseudo cash unit, the fixed monetary value and means for identifying the first entity;

deleting the file in the pseudo cash repository when the pseudo cash unit is exchanged for the fixed monetary value.

44. A method as recited in claim 43, comprising the additional step of:

maintaining a record of the exchange of the pseudo cash unit for the fixed monetary value that includes means for identifying the first entity and the identity of who exchanges the pseudo cash unit for the fixed monetary value.

45. A method as recited in claim 39, wherein the pseudo cash preliminary data packet is dispensed to the first entity by electronic means.

46. A method for providing pseudo cash transactions between a first entity and a second entity through use of a pseudo cash repository, comprising the steps of:

generating a pseudo cash preliminary data packet in the pseudo cash repository;

generating a pseudo cash unit in the pseudo cash repository from the pseudo cash preliminary data packet, a user key of the first entity and a user insertion key of the first entity by inserting the user key of the first entity into the pseudo cash preliminary data packet in accordance with an algorithm that uses the user insertion key of the first entity;

assigning a fixed monetary value to the pseudo cash unit by the pseudo cash repository;

generating a record of the pseudo cash unit, the fixed monetary value and means for identifying the first entity in the pseudo cash repository which is activated by transferring the fixed monetary value from the first entity to the pseudo cash repository and which remains active until it is deactivated by the pseudo cash repository;

dispensing the pseudo cash preliminary data packet from a pseudo cash dispenser to the first entity;

dispensing the pseudo cash preliminary data packet from the pseudo cash repository to the first entity more than once;

generating the pseudo cash unit from a pseudo cash data packet converter by inserting the user key of the first entity into the pseudo cash preliminary data packet in accordance with the algorithm that uses the user insertion key of the first entity;

transmitting the pseudo cash unit from the second entity to the pseudo cash repository;

verifying that the pseudo cash unit matches the record of the pseudo cash unit which is still active;

deactivating the record of the pseudo cash unit; and

transferring the fixed monetary value from the pseudo cash repository to the second entity.

47. A method as recited in claim 46, wherein the pseudo cash unit is generated by the pseudo cash repository by use of the user key and the user insertion key of the first entity which are stored in a first entity account file of the pseudo cash repository associated with the first entity.

48. A method as recited in claim 47, wherein the record of the pseudo cash unit includes means for identifying the first entity.

49. A method as recited in claim 48, wherein the fixed monetary value is transferred from the first entity to the pseudo cash repository by transferring the fixed monetary value from a monetary account associated with the first entity account file to the pseudo cash repository.

50. A method as recited in claim 49, wherein the pseudo cash preliminary data packet is dispensed to the first entity from a pseudo cash dispenser by an automated teller machine.

51. A method as recited in claim 49, wherein the pseudo cash preliminary data packet is dispensed to the first entity from a pseudo cash dispenser over an electronic communication medium.

52. A method as recited in claim 46, wherein the fixed monetary value is assigned to the pseudo cash unit as a result of a communication between the first entity and the pseudo cash repository.

53. A method as recited in claim 46, wherein the pseudo cash preliminary data packet is a string of at least eight characters.

54. A method as recited in claim 53, wherein the user key is a second string of at least four characters.

55. A method as recited in claim 54, wherein the user insertion key is a third string of numeric characters that has an identical number of characters as the second string, each of the numeric characters of the third string being unique as compared to the other numeric characters of the third string.

56. A method as recited in claim 46, wherein the pseudo cash data packet converter is a computer program located in a computer.

57. A method as recited in claim 56, wherein the algorithm is periodically revised.

58. A method as recited in claim 56, wherein the algorithm also inserts a fourth string of characters into the pseudo cash preliminary data packet.

59. A method as recited in claim 58, wherein the fourth string of characters identifies the pseudo cash repository.

60. A method as recited in claim 46, wherein the first entity and the second entity are the same.

61. A method as recited in claim 46, wherein the pseudo cash unit is transferred from the second entity to the pseudo cash repository over an electronic communication medium.

62. A method as recited in claim 61, further comprising:

maintaining a record of the transfer of the fixed monetary value from the pseudo cash repository to the second entity that includes means for identifying the first entity, the second entity and the fixed monetary value transferred from the pseudo cash repository to the second entity as a result of receipt of the pseudo cash unit.

63. A method as recited in claim 61, further comprising:

dispensing the pseudo cash preliminary data packet from the pseudo cash repository to the first entity more than once.

64. A method as recited in claim 61, further comprising the steps of:

searching for any active record maintained by the pseudo cash repository that is associated with the first entity; and

dispensing the pseudo cash preliminary data packet associated with any active record located by the search to the first entity.

65. A method as recited in claim 46, wherein the pseudo cash unit is generated in the pseudo cash repository by the first entity.

66. A method as recited in claim 65, wherein the record of the pseudo cash unit generated in the pseudo cash repository does not include means for identifying the first entity.

67. A method as recited in claim 66, wherein the record of the pseudo cash unit is deleted when it is deactivated.

68. A system for providing pseudo cash transactions, comprising:

a pseudo cash dispenser for dispensing a pseudo cash preliminary data packet in exchange for a fixed monetary value;

a pseudo cash data packet converter for inserting a user key into the pseudo cash preliminary data packet through the use of a user insertion key to generate a pseudo cash unit;

a pseudo cash repository for maintaining a record of the pseudo cash unit and the fixed monetary value;

means for generating the record from the pseudo cash preliminary data packet, the fixed monetary value, the user key and the user insertion key in response to an exchange of the preliminary data packet to a first entity for the fixed monetary value; and

means for deactivation of the record and exchanging the fixed monetary value for receipt of the pseudo cash unit;

wherein the record contains information relating to the identity of the first entity.

69. A system for providing pseudo cash transactions, comprising:

a pseudo cash dispenser for dispensing a pseudo cash preliminary data packet in exchange for a fixed monetary value;

a pseudo cash data packet converter for inserting a user key into the pseudo cash preliminary data packet through the use of a user insertion key to generate a pseudo cash unit;

a pseudo cash repository for maintaining a record of the pseudo cash unit and the fixed monetary value;

means for generating the record from the pseudo cash preliminary data packet, the fixed monetary value, the user key and the user insertion key in response to an exchange of the preliminary data packet to a first entity for the fixed monetary value; and

means for deactivation of the record and exchanging the fixed monetary value for receipt of the pseudo cash unit;

wherein the identity of the first entity can not be determined from the record.

70. A method for providing pseudo cash transactions between a first entity and a second entity through use of a pseudo cash repository, comprising the steps of:

generating a pseudo cash preliminary data packet in the pseudo cash repository;

generating a pseudo cash unit in the pseudo cash repository from the pseudo cash preliminary data packet, a user key of the first entity and a user insertion key of the first entity by inserting the user key of the first entity into the pseudo cash preliminary data packet in accordance with an algorithm that uses the user insertion key of the first entity;

assigning a fixed monetary value to the pseudo cash unit by the pseudo cash repository;

generating a record of the pseudo cash unit and the fixed monetary value in the pseudo cash repository which is activated by transferring the fixed monetary value from the first entity to the pseudo cash repository and which remains active until it is deactivated by the pseudo cash repository;

dispensing the pseudo cash preliminary data packet from a pseudo cash dispenser to the first entity;

generating the pseudo cash unit from a pseudo cash data packet converter by inserting the user key of the first entity into the pseudo cash preliminary data packet in accordance with the algorithm that uses the user insertion key of the first entity;

transmitting the pseudo cash unit from the second entity to the pseudo cash repository;

verifying that the pseudo cash unit matches the record of the pseudo cash unit which is still active;

deactivating the record of the pseudo cash unit; and

transferring the fixed monetary value from the pseudo cash repository to the second entity

wherein the pseudo cash unit is generated in the pseudo cash repository by the first entity; and

wherein the record of the pseudo cash unit generated in the pseudo cash repository does not include means for identifying the first entity.

71. A method as recited in claim 70, wherein the record of the pseudo cash unit is deleted when it is deactivated.