Electronic credit card-ecc

• US 7,278,581 B2
• Filed: 02/16/2001
• Issued: 10/09/2007
• Est. Priority Date: 02/16/2000
• Status: Expired due to Fees

• Current Assignee: Yong Kin Ong
• Original Assignee: Yong Kin Ong
• Inventors: Ong, Yong Kin
• Primary Examiner(s): Fureman; Jared J.
• Application Number:
  US10/203,870
• Publication Number:
  US 20030075610A1
• Time in Patent Office: 2,426 Days
• Field of Search: 235/379, 235/380, 235/487, 235/492, 902/25, 902/26, 705/39, 705/41, 705/64, 340/5.4, 340/5.41, 340/5.42, 382/117, 382/124
• US Class Current: 235/492
• CPC Class Codes: G06K 19/07 with integrated circuit chips
• CPC Class Codes: G06K 19/0728 the arrangement being an optical or sound-based communication interface
• CPC Class Codes: G06K 19/07703 the interface being visual
• CPC Class Codes: G06K 19/07749 the record carrier being capable of non-contact communication, e.g. constructional details of the antenna of a non-contact smart card
• CPC Class Codes: G06K 19/07777 the antenna being of the inductive type
• CPC Class Codes: G06K 19/07786 the antenna being of the HF type, such as a dipole
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• CPC Class Codes: G06Q 20/327 Short range or proximity payments by means of M-devices
• 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 20/382 insuring higher security of transaction
• CPC Class Codes: G06Q 20/40145 Biometric identity checks
• CPC Class Codes: G07F 7/1008 Active credit-cards provided with means to personalise their use, e.g. with PIN-introduction/comparison system

Abstract

Electronic Credit Card (ECC) is an electronic device that enables transmission/reception of data and/or digital information to/from a host computer via a Terminal Station (TS). TS includes Teller Machines in supermarkets/shopping complex, Automatic Teller Machines (ATM), EFTPOS devices and proprietary transceiver devices developed by Creative On-Line Technologies Limited for PC interface. It provides latest financial information including balances on its display unit. Keypads (1) enable PIN (personal identification number) entries so that an ECC is operational. Information Display Unit (2) including an LCD (liquid crystal display) screen or other display screens provides visual information. ENTER key (3) confirms a transaction. It is also used to activate an ECC when a PIN is keyed. Audio Transducer (4) confirms entries made on keypads (1). Audio Transducer is also used to activate a financial transaction via a telephone. Data transmission/reception is via Infra red (5), Magnetic (6) and Radio Frequency (7) devices.

Claims

1. An electronic credit card comprising:

a user verifier for verifying a user'"'"'s identity;

a code generator for generating a unique authorization code when the user'"'"'s identity is verified;

a storage for storing the user'"'"'s account details for use in an electronic funds transfer transaction; and

a communicator for securely communicating the account details of the user and the authorization code to a transaction station to facilitate an electronic fund transfer transaction.

2. An electronic credit card in accordance with claim 1, wherein the code generator generates the unique authorization code in synchronization with the transaction station by use of synchronization signal transmitted between the transaction station and the code generator.

3. An electronic credit card in accordance with claim 1, wherein the electronic credit card further comprises a disabler for disabling use of the electronic credit card under certain conditions.

4. An electronic credit card in accordance with claim 3, wherein the disabler operates when activated remotely by an issuer of the electronic credit card or other authority.

5. An electronic credit card in accordance with claim 3, wherein the disabler operates when a predetermined number of attempts verify the identity of the user fail.

6. An electronic credit card in accordance with claim 1, wherein the storage is arranged to store a financial limit wherein transactions over the financial limit are disallowed.

7. An electronic credit card in accordance with claim 6, wherein the communicator is configured to provide the financial limit to the transaction station.

8. An electronic credit card in accordance with claim 6, wherein the financial limit may be retrieved via the transaction station from a financial institution for storage in the storage.

9. An electronic credit card in accordance with claim 8, wherein the processor is configured to disallow generation of the authorization code or to disallow communication of the authorization code if the financial limit is exceeded.

11. An electronic credit card in accordance with claim 1, wherein the electronic credit card includes a processor for tracking of the use of the electronic credit card.

12. An electronic credit card in accordance with claim 1, wherein the storage is arranged to store more than one set of account details.

13. An electronic credit card in accordance with claim 1, wherein the storage is arranged to store electronic cash and the communicator is arranged to facilitate the use of the electronic cash when the user identification is verified.

14. An electronic credit card in accordance with claim 1, wherein the user verifier comprises a keypad for a personal identification number (PIN) entry and PIN verification means to authenticate the identity of the user.

15. An electronic credit card in accordance with claim 1, wherein the user verifier comprises a fingerprint reader for reading a fingerprint and a fingerprint verifying means for verifying the identity of the user.

16. An electronic credit card in accordance with claim 1, wherein the user verifier comprises a retina scanner for scanning a retina pattern and a retina pattern verifying means for verifying the identity of the user.

17. An electronic credit card in accordance with claim 1, wherein the communicator comprises an infrared transfer means.

18. An electronic credit card in accordance with claim 1, wherein the communicator comprises a radio frequency transfer means.

19. An electronic credit card in accordance with claim 1, wherein the communicator comprises a magnetic induction transfer means.

20. An electronic credit card in accordance with claim 1, wherein the communicator comprises a wire contact transfer means.

21. An electronic credit card in accordance with claim 1, wherein the storage and communicator are partly in the form of a magnetic strip for storing the account details and communication of the account details to the transaction station.

22. An electronic credit card in accordance with claim 1, wherein the communicator comprises a telephone network interface.

23. An electronic credit card in accordance with claim 1, wherein the electronic credit card is incorporated into another device.

10. An electronic credit card in accordance with 6, wherein the storage stores transaction details and a processor calculates funds available in the electronic fund transfer transaction from the financial limit.

24. An electronic credit card comprising:

a user verifier for verifying a user'"'"'s identity;

a code generator for generating a unique authorization code when the user'"'"'s identity is verified;

a storage for storing the user'"'"'s account details for use in an electronic funds transfer transaction;

a communicator for securely communicating the account details of the user and the authorization code to a transaction station for facilitation of an electronic fund transfer transaction; and

wherein the code generator generates the unique authorization code in synchronization with the transaction station.

25. An electronic fund transfer system comprising:

a transaction station; and

an electronic credit card comprising;

a user verifier for verifying an identity of a user, the unique authorization code acting as proof of identity and as a unique transaction identifier;

a code generator for generating an unique authorization code when the user'"'"'s identity is verified;

a storage for storing the user'"'"'s account details for use in an electronic funds transfer transaction; and

a communicator for securely communicating the account details of the user and the authorization code to a transaction station for facilitation of an electronic fund transfer transaction;

wherein the transaction station is configured to conduct the electronic funds transfer after it receives the unique authorization code facilitate acting as proof of identity of the user,

wherein the transaction station conducts the electronic fund transfer transaction according to the account details provided and uses the unique transaction identifier as or in an unique identifier of the transaction; and

wherein the code generator generates the unique authorization code in synchronization with the transaction station.

26. An electronic credit card comprising:

a user verification means for verifying a user'"'"'s identity;

a means for generating a unique authorization code when the user'"'"'s identity is verified;

a storage means for storing the user'"'"'s account details for use in an electronic funds transfer transaction; and

a communication means for securely communicating the account details of the user and the authorization code to a transaction station for facilitation of an electronic fund transfer transaction;

wherein the code generator generates the unique authorization code in synchronization with the transaction station.

27. A method of performing an electronic fund transfer transaction comprising:

providing an electronic credit card comprising a user verifier for verifying the identity of a user, a timer for ending the verification of the user'"'"'s identity after a period of time, a code generator that generates a unique authorization code in synchronization with a transaction station when the user'"'"'s identity ia verified, a communication means for communicating with the transaction station, and a storage means that stores the users account identification details for use of an electronic fund to transfer transaction;

verifying the identity of the user;

generating a unique authorization code when the user'"'"'s identity is verified;

securely communicating the unique authorization code and the user'"'"'s account identification details to a transaction station; and

using the user'"'"'s account identification details to conduct an electronic fund transfer transaction as authorized by the unique authorization code.