User-Specified credit card system

• US 6,029,890 A
• Filed: 06/22/1998
• Issued: 02/29/2000
• Est. Priority Date: 06/22/1998
• Status: Expired due to Term

• Current Assignee: Orbis Patents Limited (MasterCard Incorporated)
• Original Assignee: Frank Austin
• Inventors: Austin, Frank
• Primary Examiner(s): Pitts, Harold I.
• Application Number:
  US09/102,389
• Time in Patent Office: 617 Days
• Field of Search: 235/379, 235/380
• US Class Current: 235/380
• CPC Class Codes: G06Q 20/347 Passive cards
• CPC Class Codes: G06Q 20/4037 Remote solvency checks
• CPC Class Codes: G07F 7/08 by coded identity card or credit card or other personal identification means without personal verification means G07F7/02
• 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 7/1075 PIN is checked remotely

Abstract

A user-specified credit card system is provided including a central bank control system adapted to transmit a credit number request signal only after the receipt of a personal identification number with a desired credit limit via an ATM or the like. The credit number request signal includes the credit limit, expiration date and when desired the vendor number the credit must be spent at. A credit provider is connected to the central bank control system. The credit provider has a first mode during which the same is adapted to deploy a unique credit number upon the receipt of the credit number request signal if credit is available. The credit provider works in a second mode upon the receipt of a credit number and a purchase amount. In such mode, the credit provider serves to deploy an approval signal only if the credit limit is greater than or equal to the purchase amount. After the transmission of the approval signal, the credit number is cancelled.

Claims

1. A new and improved user-specified credit card system comprising, in combination:

a central bank control system adapted to transmit a verification signal upon the receipt of a correct personal identification number with a desired cash withdrawal amount which is available in a designated bank account;

an automated teller machine including a display, a card reader, a printer and a keypad, the automated teller machine connected to the central bank control system, the automated teller machine adapted for transmitting the personal identification number with the desired cash withdrawal amount to the central bank control system upon the entry thereof via the keypad, the automated teller machine, in a first mode, further adapted to dispense an amount of cash corresponding to the cash withdrawal amount upon the receipt of the verification signal from the banking control system after which a transaction receipt is printed by the printer, the automated teller machine further having a second mode for transmitting a credit number request signal, wherein the credit number request signal includes the credit limit and an expiration date entered via the keypad;

said central bank control system adapted to relay the credit number request signal only after the receipt of the correct personal identification number;

a credit provider connected to the automated teller machine and central bank control unit, the credit provider having a first mode during which the same is adapted to deploy a unique one-time credit number upon the receipt of the credit number request signal from the automated teller machine through the bank control system;

said automated teller machine, in the second mode, further adapted to print a receipt with the credit number thereon upon the receipt thereof via the central bank control system and the depression of a print button, the automated teller machine further adapted to continuously display the credit number on the display upon the receipt thereof via the central bank control system and the depression of a hold button; and

a plurality of vendor credit card interfaces each having a keypad for entering a credit number and a purchase amount and transmitting a corresponding charge signal, each vendor credit card interface further having a display for indicating an approval upon the receipt of an approval signal;

said credit provider further connected to the vendor credit card interfaces and, in a second mode, adapted to deploy the approval signal to the appropriate vendor credit card interface only if the expiration date of the credit number of the received charge signal is subsequent a present date and if the credit limit is greater than or equal to the purchase amount, wherein after the transmission of the approval signal, the credit number is cancelled.

2. A user-specified credit card system comprising:

a central bank control system adapted to transmit a credit number request signal only after the receipt of a correct personal identification number with a desired credit limit, wherein the credit number request signal includes the requested credit limit; and

a credit provider connected to the central bank control system, the credit provider having a first mode during which the same is adapted to deploy a unique credit number to the bank control system upon the receipt of the credit number request signal;

said credit provider, in a second mode, adapted to deploy an approval signal upon the receipt of an entered credit number only if the associated credit limit is greater than or equal to an entered purchase amount, wherein after the transmission of the approval signal, the credit number is cancelled.

3. A user-specified credit card system as set forth in claim 2 wherein the credit number request signal is sent only after the receipt thereof via entry means, wherein the personal identification number and the desired credit limit is also provided to the central bank control system via the entry means.

4. A user-specified credit card system as set forth in claim 3 wherein the entry means includes an automated teller machine.

5. A user-specified credit card system as set forth in claim 3 wherein the entry means includes a computer banking terminal.

6. A user-specified credit card system as set forth in claim 3 wherein the entry means includes a telephone.

7. A user-specified credit card system as set forth in claim 4 wherein the automated teller machine is further adapted to print a receipt with the credit number thereon upon the receipt thereof via the central bank control system and the depression of a print button.

8. A user-specified credit card system as set forth in claim 4 wherein the automated teller machine is further adapted to continuously display the credit number on the display upon the receipt thereof via the central bank control system and the depression of a hold button.

9. A user-specified credit card system as set forth in claim 2 wherein the purchase amount is entered by one of a plurality of vendor credit card interfaces connected to the credit provider, wherein the vendor credit card interface is adapted to indicate an approval upon the receipt of the approval signal.

10. A user-specified credit card system as set forth in claim 2 wherein the credit number request signal further includes an expiration date and the credit provider, in the second mode, is adapted to deploy an approval signal only if the expiration date of the credit number is subsequent a present date.

11. A user-specified credit card system as set forth in claim 2 wherein the credit number request signal further includes a vendor identification number and the credit provider, in the second mode, is adapted to deploy an approval signal only if the vendor indentification number is properly identified.