Mobile funds transaction device for transferring funds between remote banking facilities

• US 6,010,067 A
• Filed: 07/22/1996
• Issued: 01/04/2000
• Est. Priority Date: 01/25/1994
• Status: Expired due to Term

• Current Assignee: Calabro Services Co LLC (Intellectual Ventures LLC)
• Original Assignee: Dynamic Data Systems Pty. Ltd.
• Inventors: Elbaum, Hector Daniel
• Primary Examiner(s): Hajec, Donald
• Assistant Examiner(s): Rodriguez, Douglas X.
• Application Number:
  US08/676,361
• Time in Patent Office: 1,261 Days
• Field of Search: 235/379, 235/380
• US Class Current: 235/380
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/3223 Realising banking transactions through M-devices
• 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 20/343 Cards including a counter
• CPC Class Codes: G07F 7/02 by keys or other credit registering devices
• CPC Class Codes: G07F 7/0886 the card reader being portable for interacting with a POS or ECR in realizing a payment transaction
• CPC Class Codes: G07F 7/10 together with a coded signal , e.g. in the form of personal identification information, like personal identification number [PIN] or biometric data
• CPC Class Codes: G07F 7/1008 Active credit-cards provided with means to personalise their use, e.g. with PIN-introduction/comparison system
• CPC Class Codes: G07F 7/1016 Devices or methods for securing the PIN and other transaction-data, e.g. by encryption arrangements for secret communication, see H04L9/00

Abstract

A mobile funds transaction device for transferring funds between one bank account or credit facility and another bank account or credit facility, the device having: a card reader device; a PINpad device with an encryption system; a modem device; a communication interface device connected with the modem device; an output report device; a wireless communication device; and a central processing device (CPU) to which are connected the above-listed devices. The CPU is programmed to store merchant identifying data of the owner/leasee of the device and to activate the PINpad device so a user can enter confidential identifying information to the CPU. The user then activates a communication connection via the modem device and the interface device to transmit the stored user entered data as well as transmit the merchant identifying data of the owner/leasee of the device, so that funds can be transferred from the user'"'"'s bank account or credit or debit card to the owner/leasee'"'"'s bank account or vice versa and to provide signals to the output report device confirming the transaction or other information relating to the transaction

Claims

1. A mobile funds transaction device for transferring funds between one bank account or credit facility and another bank account or credit facility, said device having:

1. A card reader device;

2.

3. connection. 2. A device as claimed in claim 1 including a memory for storing telephone numbers of host EFTPOS networks.

2. A PINpad device with an encryption system;

3. A modem device;

4. A communication interface device connected with the modem device;

5. An output report device;

6. A wireless communication device; and

7. A central processing device;

said central processing device (CPU) interconnecting all of the devices 1 through 6, said wireless communication device, in use, being connectable with a wireless communications network to connect to a host EFTPOS network connected with a bank or credit establishment,

said CPU being programmed to store merchant identifying data of the merchant owner/lessee of the device and to activate said PINpad device so a user, who is a distinct entity from said merchant owner/lessee, can enter user oriented information via said PINpad device, said information including a PIN number and at least one of, account type, account transaction type, and transaction amount, said PIN number being encrypted by said PINpad device, and wherein said PIN number is encrypted and said user entered information encrypted as a Message Authentication Code and stored by said CPU, activate a communication connection via said modem device and said interface device to connect with the host EFTPOS device and transmit the stored user entered data as well as transmit the merchant identifying data of the merchant owner/lessee of the device, so that funds can be transferred from the user'"'"'s bank account or credit or debit card to the merchant owner/lessee'"'"'s bank account or vice versa and to provide signals to the output report device confirming the transaction or other information relating to the transaction;

wherein the mobile funds transaction device is mobile and portable and therefore can be moved from one location to another in view of the wireless communication device to thereby enable the funds transaction device to be used without need to be hard wired into a transmission system; and

wherein said communication connection is activated by a telephone dialing routine controlled by the central processing unit, and said communication device is a mobile telephone device for permitting said communication

4. A device as claimed in claim 2 wherein said memory is arranged to store several telephone numbers as alternative telephone numbers for said host EFTPOS network and wherein said central processing unit is programmed to attempt to make connection on one number and if that is unsuccessful to attempt on another number without intervention by a user.

5. A hand held mobile funds transaction device for transferring funds between one facility and another facility, including:

an input unit having;

(a) a card reader for reading data in or on a user'"'"'s card;

(b) an input pad for the input of data relating to a transaction; and

(c) an output report device for providing details of the transaction;

coupling means for electronically coupling the input unit to a wireless communication device;

wherein the input device, in use, provides an information signal including data relating to the transaction, which includes a PIN number input by a purchaser, and data relating to the merchant owner/lessee of the transaction device so that said coupling means can transfer the information signal to the wireless communication device so the wireless communication device can, in turn, transmit the signal to a central facility to cause funds to be transferred from said one facility relating to the user, who is a distinct entity from the merchant owner/lessee, and to said another facility relating to the merchant owner/lessee, and wherein the funds transaction device is mobile and portable and therefore can be moved from one location to another in view of the coupling means which couples the input unit to the wireless communication device to thereby enable the funds transaction device to be used without need to be hard wired into a transmission system;

wherein said wireless communication device includes a mobile telephone;

wherein said coupling means includes a modem device, a communication interface device coupled to said modem device, a central processing device, and a cable for coupling said modem device, said communication interface device and said central processing device to said wireless communication device.