Countable electronic monetary system and method

• US 6,467,685 B1
• Filed: 03/09/2000
• Issued: 10/22/2002
• Est. Priority Date: 04/01/1997
• Status: Expired due to Term

• Current Assignee: Cardis Enterprise International NV
• Original Assignee: Cardis Enterprise International NV
• Inventors: Teicher, Mordechai
• Primary Examiner(s): Lee, Michael G.
• Assistant Examiner(s): WALSH, DANIEL I
• Application Number:
  US09/522,019
• Time in Patent Office: 957 Days
• Field of Search: 235/379, 235/380, 235/492, 235/493, 235/383
• US Class Current: 235/379
• 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 20/403 Solvency checks

Abstract

An electronic value transfer system using stored value in the form of serialized electronic coins and electronic bills, which provides efficient security monitoring without the need for full centralized accounting of each transaction. Central monitoring of the system-level security includes statistical sampling techniques coupled with efficient tracing of the transaction path of an electronic coin back to its source. Only small amounts of data storage and transmission are utilized, eliminating the need for large centralized databases of transaction records. Consumer privacy as well as flexibility in making card-to-card monetary transfers are thereby enhanced, while allowing verification of system-wide security as well as rapid detection and tracing of security breaches. Multiple editions of electronic coins permit transparent and periodic renewal of the system and re-establishment of a security baseline, and also provide for the regular reclamation of stored value lost or abandoned by consumers.

Claims

1. A countable electronic value system for the transfer of electronic value in integer multiples of an elementary value unit, the transfer being between two selected ones from a plurality of consumers, a plurality of merchants and a number of value issuers, the countable electronic value system comprising:

a) a plurality of electronic coin types of different denominations, each denomination being an integer multiple of the denomination of said elementary value unit;

b) for each of said electronic coin types, a plurality of electronic coins each having a serial number;

c) a plurality of sorted value devices for storing said electronic coins, said plurality of stored-value devices including;

(i) electronic coin purses for consumers,

(ii) electronic coin drawers form merchants, and

(iii) electronic coin pools for value issuers; and

d) transaction means for transferring a selectable amount of value from a selected source stored value device to a selected target stored value device, said transaction means being responsive to at least the selectable amount of value to automatically select, for each of said electronic coin types;

(i) a first group of a first non-negative number of electronic coins to be transferred from the source stored value device to the target stored value device, and

(ii) a second group of a second non-negative number of electronic coins to be transferred from the target stored value device to the source stored value device.

2. The system of claim 1, wherein one of said plurality of electronic coin types is an elementary electronic coin type having a denomination of one said elementary value unit.

3. The system of claim 1, wherein said transaction means comprise:

a) payment transaction means in which said source stored value device is an electronic coin purse and said target stored value device is an electronic coin drawer, the payment transaction means being also responsive to the electronic coins in the electronic coin purse prior to said transferring of a selectable amount; and

b) change transaction means in which said source stored value device is an electronic coin drawer and said target stored value device is an electronic coin purse, the change transaction means being also responsive to the electronic coins in the electronic coin purse prior to said transferring of a selectable amount.

4. The system of claim 1, wherein at least one of said plurality of electronic coin purses is included in a payment card.

5. The system of claim 1, wherein at least one of said plurality of said electronic coin drawers in included in a point of sale terminal.

6. The system of claim 1, wherein at least one of said plurality of electronic coin purses is included in a personal network terminal.

7. The system of claim 1, wherein at least one of said plurality of electronic coin drawers is included in a merchant server.

8. The system of claim 1, further comprising:

a) a charge function coupled with a source electronic coin purse and operative to charge a remote account, and

b) a charge drawer coupled with a target electronic coin drawer; and

wherein said transaction means is also operative, upon said transferring a selectable amount and in response to at least said selectable amount and the coins stored in said source electronic purse, to automatically select a non-negative amount to be paid from the charge function to the charge drawer.

9. The system of claim 1, further having at least two editions, and wherein:

a) each of said plurality of electronic coins is assigned an edition selected from said at least two editions;

b) each of said plurality of sorted value devices is operative to separating electronic coins according to their assigned edition; and

c) said transaction means is operative to establishing a priority for the transfer of electronic coins of a first selectable edition with respect to the transfer of electronic coins of a second selectable edition.

10. The system of claim 1, wherein said transaction means is further operative, when transferring electronic coins form a stored value device, to pick the transferred electronic coins according to preselected picking criteria.

11. The system of claim 1, further having, for each of said plurality of electronic coin types:

a) a predefined number of allowed repetitions for any serial number of electronic coins belonging to said plurality of electronic coin types; and

b) at least one of said number of electronic coin pools having security means to count the number of repetitions of each of said serial number of electronic coins belonging to said electronic coin type and stored in said electronic coin pool, and identify and report serial numbers whose repetition exceeds said predefined number of allowed repetitions.

12. The system of claim 1, wherein said number of electronic coin pools is at least two electronic coin pools, and wherein, for a selected electronic coin type from said plurality of electronic coin types each of said at least two electronic coin pools is assigned a distinctive group of serial numbers of electronic coins belonging to said selected electronic coin type.

13. The system as in claim 1, wherein at least one of the stored value file, said received electronic value file containing records including an electronic value identification field for electronic coins received from another sorted value device and a device identification field including the identity of the another restored value device;

and

a) means for creating and storing a received electronic value file, said received electronic value file containing records including an electronic value identification field for electronic coins received from another stored value device and a device identification field including the identify of the another stored value device; and

b) means for retrieving and delivering data from said received electronic value file.

14. The system as in claim 13, wherein an electronic coin pools comprises means for requesting, receiving and storing data from a received electronic value file form a stored value device other than an electronic coin pool.

15. The system as in claim 1, wherein said plurality of sorted value devices also comprises at least one intermediate device operative to receiving, storing, and transferring said electronic value from other stored value devices.

16. The system of claim 1, further comprising electronic pennies having no serial numbers.

17. The system of claim 1, wherein said transaction means is operable in a forced exchange mode whereby, for at least one selectable amount and for at least one electronic coin type, said first non-negative number and said second non-negative numbers are both positive numbers.

18. A method for the establishment, storage and transfer of electronic value in amounts which are an integer multiple of an elementary value unit, within a value system having a plurality of stored value devices including a plurality of electronic coin purses for consumers, a plurality of electronic coin drawers for merchants, and at least one electronic coin pool of an electronic value issuer, the method comprising the steps of:

determining a plurality of electronic coin types of different denominations, each denomination being an integer multiple the elementary value unit;

generating, for each of said plurality of electronic coin types, a plurality of electronic coins each having a serial number;

depositing, in each of said plurality of sorted value devices, a selectable group of a non-negative number of electronic coins; and

performing a value transfer transaction of a selectable amount from a source stored value device to a target stored value device by automatically selecting, in response to at least the selectable amount, for each of the electronic coin types;

a) a first group of a first non-negative number of electronic coins to be transferred from the source stored-value device to the target sorted-value device, and

b) a second group of a second non-negative number of electronic coins to be transferred from the target stored-value device to the source stored-value device.

19. The method of claim 18, wherein one of said plurality of electronic coin types is an elementary electronic coin type having denomination of one elementary value unit.

20. The method of claim 18, wherein said performing a value transfer transaction selectably comprises:

performing a payment transaction, wherein said source stored value device is an electronic coin purse and said target stored value device is an electronic coin drawer; and

performing a change transaction, wherein said source stored value device is an electronic coin drawer and said target sorted value device is an electronic coin purse.

21. The method of claim 18, wherein at least on e of said plurality of electronic coin purses is included in a payment card.

22. The method of claim 18, wherein at least one of said plurality of said electronic coin drawers in included in a point of sale terminal.

23. The method of claim 18, wherein at least one of said plurality of electronic coin purses is included in a personal network terminal.

24. The method of claim 18, wherein at least one of said plurality of electronic coin drawers is included in a merchant server.

25. The method of claim 18 wherein said value system furthermore has a charge function coupled with at least one of said electronic coin purses and operative to charge a remote account and a charge drawer coupled with at least one of said electronic coin drawers, the method further comprising, upon said performing a value transfer transaction, the step of automatically selecting a non-negative amount to paid from said charge function to said charge drawer.

26. The method of claim 18, further comprising:

assigning an edition selected from at least two editions to each of said plurality of electronic coins;

separating electronic coins in each of said plurality of sorted value device according to their assigned edition; and

establishing a priority for the transfer of electronic coins of a first selectable edition with respect to the transfer of electronic coins of a second selectable edition.

27. The method of claim 18, further comprising, upon transferring electronic coins from a stored value device, picking the transferred electronic coins according to preselected picking criteria.

28. The method of claim 18, further comprising, for each of said plurality of electronic coin types:

defining a predefined number of allowed repetitions for any serial number of electronic coins belonging to said plurality of electronic coin types; and

in at lest one of said number of electronic coin pools, counting the number of repetitions of each of said serial number of electronic coins belonging to said electronic coin type and stored in said electronic coin pool, and identifying and reporting serial numbers whose repetition exceeds said predefined number of allowed repetitions.

29. The method of claim 18, wherein said number of electronic coin pools is at least two electronic coin pools, further comprising, for a selected electronic coin type from said plurality of electronic coin types, assigning a distinctive group of serial numbers for the coins issued in each electronic coin pool.

30. The method as in claim 18, further comprising:

creating and storing a received electronic value file at a sorted value device, said received electronic value file containing records including an electronic value identification field for electronic coins received form another sorted value device and a device identification field including the identity of the another sorted value device; and

retrieving and delivering data from said received electronic value file.

31. The method as in claim 30, further comprising, at an electronic coin pool, requesting, receiving and storing data from a received electronic value file from a stored value device other than an electronic coin pool.

32. The method of claim 18, including a forced exchange mode whereby, for at least one selectable amount and for at least one electronic coin type, said first non-negative number and said second non-negative numbers are both positive numbers.