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Electronic cashless system

  • US 6,915,951 B2
  • Filed: 01/15/2002
  • Issued: 07/12/2005
  • Est. Priority Date: 09/06/1989
  • Status: Expired due to Fees
First Claim
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1. A cashless electronic monetary transaction method, comprising:

  • transferring to an electronic medium through a transfer terminal monetary information from a financial institution representing an amount of money available to a holder of the medium and requested by the holder;

    transferring an amount of money responsive to the amount transferred to the medium to a non-settled account of the financial institution;

    performing a monetary transaction with the holder using the medium through a point of sale terminal of a seller and changing the monetary information on the medium responsive to the monetary transaction without identifying the holder; and

    posting the change to the monetary information to a sales tallying file in the point of sale terminal and to the non-settled account of the financial institution responsive to the changing.

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