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Method and apparatus for funds and credit line transfers

  • US 5,949,044 A
  • Filed: 06/13/1997
  • Issued: 09/07/1999
  • Est. Priority Date: 06/13/1997
  • Status: Expired due to Term
First Claim
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1. A system for providing a single-use identifier in response to a request for transferring financial tender between separately assigned credit card accounts, the system comprising:

  • a central controller including;

    means for receiving, from a first account owner, data corresponding to the first account owner, said data comprising at least one of a name of the first account owner, a portion of a first credit card account number corresponding to a first credit card account assigned to said first account owner, a time of the request, a date of the request and an expiration date of said first credit card account;

    means for generating an identifier corresponding to said data, said identifier for use in transferring a financial tender value comprising a financial tender amount, said identifier comprising an encrypted code;

    means for generating said encrypted code using at least a portion of said data;

    means for transmitting the encrypted code to the first account owner from said central controller, whereby the first account owner provides the encrypted code to a transferee for the transferee to complete the transfer;

    means for receiving the encrypted code from the transferee;

    means for decrypting the encrypted code, whereby said portion of said data is revealed to process the request; and

    means for transferring the financial tender value from the first credit card account to a credit card account owned b the transferee using the revealed data.

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