Device, system and methods of conducting paperless transactions

• US 6,925,439 B1
• Filed: 03/10/1999
• Issued: 08/02/2005
• Est. Priority Date: 06/20/1994
• Status: Expired due to Fees

• Current Assignee: C-SAM Incorporated (MasterCard Incorporated)
• Original Assignee: C-SAM Incorporated (MasterCard Incorporated)
• Inventors: Pitroda, Satyan G.
• Primary Examiner(s): Hafiz, Tariq R.
• Assistant Examiner(s): Irshadullah, M.
• Application Number:
  US09/265,451
• Time in Patent Office: 2,337 Days
• Field of Search: 705/1, 705/41, 705/14, 235/380, 235/441, 235/442, 235/25, 235/492, 235/382, 345/169, 340/825.49, 700/92, 725/23
• US Class Current: 705/1.1
• CPC Class Codes: G06Q 20/02 involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
• CPC Class Codes: G06Q 20/023 the neutral party being a clearing house
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• 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 20/3415 Cards acting autonomously as pay-media
• CPC Class Codes: G06Q 20/3576 Multiple memory zones on card
• CPC Class Codes: G06Q 20/4093 Monitoring of device authentication
• CPC Class Codes: G07F 7/1008 Active credit-cards provided with means to personalise their use, e.g. with PIN-introduction/comparison system

Abstract

The invention also includes methods of issuing an account authorization to a UET card, a method of transferring transactional and account information between a UET card and a personal computer or a mainframe computer, a method of using the UET card as a remote terminal for a mainframe computer, and a method of conducting an electronic transaction.

Claims

1. A pocket-sized device for storing, transmitting, and receiving information, including personal information for a user of the pocket-sized device, account information for accounts with service institutions in which the user has an account, and transactional information for account with service institutions in which the user has an account, for a plurality of service institutions, comprising:

a. a housing, adapted to fit in a pocket or purse;

b. a processor, enclosed in the housing, the processor adapted to process personal information, account information and transactional information;

c. a touch-sensitive display, supported by the housing and coupled to the processor;

d. a memory, enclosed in the housing and coupled to the processor, the memory adapted to store personal information, account information, and transactional information, including a plurality of transaction records; and

e. a communication circuit enclosed in the housing and coupled to the processor, the processor being adapted to conduct electronic transactions for a plurality of accounts via the communication circuit.

2. The pocket-sized device of claim 1, wherein the communication circuit comprises an infra-red transceiver.

3. The pocket-sized device of claim 1, wherein the communication circuit comprises a radio frequency transceiver.

4. The pocket-sized device of claim 1, wherein the communication circuit is coupled to metallic contacts.

5. The pocket-sized device of claim 1, wherein the communication circuit is adapted to communicate with a point of sale terminal.

6. The pocket-sized device of claim 1, wherein the account information includes a plurality of images of replicas of cards.

7. The pocket-sized device of claim 1, wherein the personal information includes an image of a signature of the user.

8. The pocket-sized device of claim 1, wherein the touch sensitive display is adapted to display personal information, account information and transactional information.

9. The pocket-sized device of claim 8, wherein the touch sensitive display is adapted to receive personal information, account information and transactional information.

10. The pocket-sized device of claim 1, wherein at least one of the transaction records comprises a receipt.

11. The pocket-sized device of claim 10, wherein the receipt includes a user authorization.

12. A method of using a pocket-sized device having a memory and a display, the pocket-sized device adapted to conduct electronic transactions with point of sale terminals, the method comprising:

a) inputting account information corresponding to at least one service institution in which the user has an account into the memory on the pocket-sized device;

b) selecting a service institution account on the pocket-sized device;

c) transmitting account information corresponding to the selected service institution account from the pocket-sized device to the point of sale terminal via the display of the pocket-sized device.

13. The method of claim 12, wherein the step of transmitting account information corresponding to the selected service institution account to the point of sale terminal via the display comprises displaying a bar code including the account information on the display of the pocket-sized device;

and wherein the point of sale terminal reads the displayed bar code.

14. The method of claim 13, wherein the step of displaying a bar code including the account information on the display further includes displaying name, the card number, the date of issue, and the date of expiration in the form of a bar code pattern to be read by a bar code reader.

15. The method of claim 12, further comprising the step of inputting transactional information corresponding to the selected account into the memory of the pocket-sized device.