Credit card application automation system

• US 6,817,521 B1
• Filed: 08/21/2003
• Issued: 11/16/2004
• Est. Priority Date: 08/21/2003
• Status: Active Grant

• Current Assignee: PayPal, Inc. (PayPal Holdings, Inc.)
• Original Assignee: International Business Machines Corporation
• Inventors: Matada, Anmol N.
• Primary Examiner(s): Frech, Karl D.
• Assistant Examiner(s): WALSH, DANIEL I
• Application Number:
  US10/645,176
• Time in Patent Office: 453 Days
• Field of Search: 235/380, 235/379, 235/492, 235/487, 235/493, 235/381, 235/382.5, 705/1, 705/38, 705/44
• US Class Current: 235/380
• CPC Class Codes: G06K 19/0719 at least one of the integrated circuit chips comprising an arrangement for application selection, e.g. an acceleration sensor or a set of radio buttons application selection on smart cards using pure software control, see G07F7/10
• 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 20/355 Personalisation of cards for use
• 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 40/03 Credit; Loans; Processing thereof
• 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 7/1008 Active credit-cards provided with means to personalise their use, e.g. with PIN-introduction/comparison system

Abstract

A universal credit card system utilizes a portable card access device which stores information associated with multiple bank card accounts, electronically authenticates a user of the bank card accounts, allows the user to select a particular one of the bank card accounts for usage, and then magnetically encodes the selected bank card account information on a separate card substrate (a “universal” credit card) and releasing the card for use. Bank card account information can be stored by inserting an existing bank card into the access device and reading the existing bank card, by manually entering the information using a keypad, or by downloading the information from a computer directly to the card access device. Authentication may be performed using an optical fingerprint scanner. After use, the universal credit card is re-inserted into the card access device and the previously selected bank card account information is erased. The universal credit card system may advantageously be used in conjunction with a credit card application automation system which can issue a new bank card with practically no wait time. The user enters application information into a local computer, which transmits the user application information to a host server via the Internet. Once approved, the host server sends new bank card account information to the local computer, and the local computer can immediately download the information into the card access device, which then generates a universal credit card having the new bank card account information.

Claims

1. A method of issuing a bank card for monetary transactions, comprising the steps of:

entering user application information for at least two bank card accounts into one or more local computers;

transmitting the user application information from the one or more local computers to at least one host server;

receiving new bank card account information for each of the bank card accounts from the at least one host server at the one or more local computers in response to said transmitting step;

downloading the new bank card account information for each of the bank card accounts from the one or more local computers to a single, portable credit card access device; and

creating a new bank card having the new bank card account information for only a selected one of the bank card accounts encoded thereon in machine-readable form using the portable credit card access device.

2. The method of claim 1 wherein said transmitting step transmits the application information across the Internet.

3. The method of claim 1 wherein said transmitting step transmits the application information to a third-party company which has a user profile and applies for a new bank card account on behalf of a user.

4. The method of claim 1 where the local computer maintains a database of information for multiple bank card accounts including the new bank card account information.

5. The method of claim 1 wherein said creating step further includes the step of magnetically writing the new bank card account information onto a magnetic readable/writable stripe of a card substrate.

6. The method of claim 1 further comprising the step of programming the credit card access device using the local computer.

7. A computer system comprising:

a display providing output for a user;

a keyboard allowing user input;

a temporary memory device;

a permanent storage device having program instructions and operand data;

a network communications device; and

a processor connected to said display, said keyboard, said temporary memory device, said permanent storage device and said network communications device, said processor executing program instructions from said permanent storage device which allow the user to enter application information for at least two bank card accounts, transmit the user application information to at least one host server using the network communications device, receive new bank card account information from the at least one host server for each of the bank card accounts, and download the new bank card account information for each of the bank card accounts to a single, portable credit card access device.

8. The computer system of claim 7 wherein said network communications device transmits the user application information to the host server across the Internet.

9. The computer system of claim 7 wherein said network communications device transmits the user application information using encryption.

10. The computer system of claim 7 wherein said program instructions maintain a database of information on said permanent storage device for multiple bank card accounts including the new bank card account information.

11. The computer system of claim 10 wherein said program instructions further allow the user to manually enter existing bank card account information into the database.

12. The computer system of claim 7 wherein said program instructions interface with one or more other programs residing on said permanent storage device for credit card management.

13. The computer system of claim 7 wherein said program instructions program the credit card access device.

14. An automated credit card application system comprising:

a card substrate having a machine readable/writable medium;

a portable credit card access device which stores bank card account information for at least two bank card accounts, and writes selected bank card account information for only one of the bank card accounts to said machine readable/writable medium of said card substrate subject to user authentication; and

a computer having program instructions which allow a user to enter application information for each of the bank card accounts, transmit the user application information to at least one host server using the network communications device, receive new bank card account information for each of the bank card accounts from the at least one host server, and download the new bank card account information for each of the bank card accounts to said portable credit card access device.

15. The automated credit card application system of claim 14 wherein said computer transmits the user application information to the host server across the Internet.

16. The automated credit card application system of claim 14 wherein said computer transmits the user application information using encryption.

17. The automated credit card application system of claim 14 wherein said computer maintains a database of information for multiple bank card accounts including the new bank card account information.

18. The automated credit card application system of claim 17 wherein said program instructions further allow the user to manually enter existing bank card account information into the database.

19. The automated credit card application system of claim 14 wherein said program instructions interface with one or more other programs residing on said computer for credit card management.

20. The automated credit card application system of claim 14 wherein said program instructions program said credit card access device.