System and method for connecting money modules

• US 6,047,887 A
• Filed: 03/16/1998
• Issued: 04/11/2000
• Est. Priority Date: 11/15/1991
• Status: Expired due to Term

• Current Assignee: Citibank (South Dakota) NA (Citigroup Incorporated)
• Original Assignee: Citibank (South Dakota) NA (Citigroup Incorporated)
• Inventors: Rosen, Sholom S.
• Primary Examiner(s): Hajec, Donald
• Assistant Examiner(s): TREMBLAY, MARK STEPHEN
• Application Number:
  US09/039,933
• Time in Patent Office: 757 Days
• Field of Search: 235/379, 235/375, 235/382.5, 235/492
• US Class Current: 235/379
• CPC Class Codes: G06Q 20/02 involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
• CPC Class Codes: G06Q 20/04 Payment circuits
• 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 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/108 Remote banking, e.g. home banking
• CPC Class Codes: G06Q 20/1085 involving automatic teller machines [ATMs]
• CPC Class Codes: G06Q 20/26 Debit schemes, e.g. "pay now"
• CPC Class Codes: G06Q 20/29 characterised by micropayments
• 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 20/367 involving electronic purses or money safes
• CPC Class Codes: G06Q 20/3674 involving authentication
• CPC Class Codes: G06Q 20/3676 Balancing accounts
• CPC Class Codes: G06Q 20/3678 e-cash details, e.g. blinded, divisible or detecting double spending
• CPC Class Codes: G06Q 20/381 Currency conversion
• 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 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G07F 19/211 Software architecture within ATMs or in relation to the ATM network
• CPC Class Codes: G07F 7/082 Features insuring the integrity of the data on or in the card
• CPC Class Codes: G07F 7/1008 Active credit-cards provided with means to personalise their use, e.g. with PIN-introduction/comparison system

Abstract

An improved monetary system using electronic media to exchange economic value securely and reliably. The invention provides a complete monetary system having electronic money that is interchangeable with conventional paper money comprising (1) issuing banks or financial institutions that are coupled to a money generator device for generating and issuing to subscribing customers electronic money including electronic currency backed by demand deposits, or electronic credit authorizations; (2) correspondent banks that accept and distribute the electronic money; (3) a plurality of transaction devices that are used by subscribers for storing electronic money, for performing money transactions with the on-line systems of the participating bank or for exchanging electronic money with other like transaction devices; (4) teller devices, associated with the issuing and correspondent banks, for process handling and interfacing the transaction devices to the issuing and correspondent banks, and for interfacing between the issuing and correspondent banks themselves; (5) a security arrangement for maintaining the integrity of the system; and (6) reconciliation and clearing processes to monitor and balance the monetary system.

Claims

1. A method for connecting a first money module to one of a plurality of other money modules, comprising the steps of:

a first money module, having a first money module certificate, establishing communication with a network server;

said first money module sending its money module certificate to said network server;

said network server sending said money module certificate to a security server;

said security server verifying said certificate;

said security server sending security information to said money module;

said network server establishing communication with a second money module, without specification of a particular second money module, selected from amongst a plurality of other money modules, each said other money module having a money module certificate;

said second money module receiving said first money module certificate via said network server;

said second money module sending its certificate to said first money module via said network server.

2. The method of claim 1, wherein said money modules are part of a local network, and comprising the step of said local network routing messages to said second money module.

3. The method of claim 1, further comprising the step of said first money module and said second money module performing an electronic money withdrawal or deposit transaction.

4. The method of claim 1, wherein said other money modules are teller money modules.

5. The method of claim 4, wherein said first money module is a transaction money module.

6. The method of claim 4, wherein said first money module is a teller money module.

7. The method of claim 1, wherein said other money modules are money generator money modules.

8. The method of claim 7, wherein said first money module is a teller money module.

9. A money module connecting system comprising:

a first money module having a processor and a memory that stores electronic money and a first money module certificate;

a network server having an external interface application, a communication session manager application and a route message application;

a security server having an external interface application and a bad money module control application;

a local network having a plurality of other money modules, where each said other money module has a money module certificate;

where said money module is programed to send its money module certificate to said network server to initate a communication session with a second money module without specifying said second money module;

where said network server is programmed to send said first money module certificate to said security server, and to establish communication with said second money module via routing by said local network;

where said security server is programmed to validate said first money module certificate and to send security information to said first money module; and

where said second money module is programmed to send its money module certificate to said first money module.

10. The system of claim 9, wherein said first money module and said second money module are programmed to perform an electronic money withdrawal or deposit transaction.

11. The system of claim 9, wherein said other money modules are teller money modules.

12. The system of claim 11, wherein said first money module is a transaction money module.

13. The system of claim 11 wherein said first money module is a teller money module.

14. The system of claim 9, wherein said other money modules are money generator money modules.

15. The system of claim 14, wherein said first money module is a teller money module.