Method and device for handling means for payment and means for payment
First Claim
Patent Images
1. A method for accomplishing payment comprising the steps of:
- receipt of payment means by a provider of goods or services;
registration of a monetary value of the payment means;
destruction of all of the payment means received and registered; and
transmission of only data representing said monetary value of the received, registered, and destroyed payment means to a financial institution.
0 Assignments
0 Petitions
Accused Products
Abstract
In a novel financial transaction system, a consumer exchanges payment means for goods or services provided by a retailer. The retailer then feeds the payment means, which may be in the form of bills or coinage, into a device which reads the value of the payment means. The value is transmitted to a financial institution for crediting to the account of the retailer. The retailer then destroys the payment means. The monetary value may be sent to the financial institution by electronic transmission, or may be written to a smart card. For security purposes, the information may be encrypted to require at least one code to allow writing and/or reading.
-
Citations
28 Claims
-
1. A method for accomplishing payment comprising the steps of:
-
receipt of payment means by a provider of goods or services;
registration of a monetary value of the payment means;
destruction of all of the payment means received and registered; and
transmission of only data representing said monetary value of the received, registered, and destroyed payment means to a financial institution. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14)
-
-
15. A device for use in a financial transaction with a provider of goods or services including the transfer of payment means, comprising:
-
a payment means reader capable of receiving a payment means and identifying and recording a monetary value of the payment means;
a payment means destruction device adapted to receive said payment means from the payment means reader and destroy all said payment means received and identified; and
a transmission mechanism adapted to store the monetary value of the payment means destroyed by the destruction device so that the monetary value can be read by a financial institution and credited to the provider of goods or services. - View Dependent Claims (16, 17, 18, 19, 20, 21, 22, 23)
-
- 24. A system for accomplishing financial transactions between a consumer and a provider of goods or services, wherein the consumer provides payment means to the provider in exchange for goods or services, the provider inserts the payment means into a payment means reader which identifies a monetary value of the payment means, the payment means reader transfers the payment to a destruction device which destroys the payment means, and the monetary value of the payment means is transmitted to a financial institution to be credited to an account of the provider.
Specification