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Portable transaction device

  • US 7,013,293 B1
  • Filed: 01/25/2000
  • Issued: 03/14/2006
  • Est. Priority Date: 01/25/2000
  • Status: Expired due to Term
First Claim
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1. A portable element comprising:

  • a proximity determination device operative to determine a distance of the portable element from a specified location and to produce a signal indicative of the distance; and

    a processor comprising a clock, the processor receiving the signal and being operative to authorize use of the portable element in accordance with at least one of the following authorization parameters;

    at least one defined period of time; and

    said distance from said specified location,wherein the processor is operative to authorize use of the portable element up to a quantitative use limit, andthe use limit varies between a maximum use limit and a minimum use limit and includes a range of non-zero use limits determined as a monotonically decreasing function of at least one of the following;

    an elapsed time since said defined period of time; and

    the distance indicated by the signal.

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