Credit transaction processing system

• US RE32,985 E
• Filed: 09/15/1986
• Issued: 07/11/1989
• Est. Priority Date: 07/09/1982
• Status: Expired due to Term

• Current Assignee: Omron Tateisi Electronics Co. (Omron Corporation)
• Original Assignee: Omron Tateisi Electronics Co. (Omron Corporation)
• Inventors: Inoue, Toshiaki, Hirayama, Mamoru, Nagata, Masanori
• Primary Examiner(s): Harkcom, Gary V.
• Application Number:
  US06/906,848
• Time in Patent Office: 1,030 Days
• Field of Search: 364/400-401, 364/405-406, 364/408, 235/375, 235/378-382, 235/382.5
• US Class Current: 705/41
• CPC Class Codes: G06Q 20/4037 Remote solvency checks
• CPC Class Codes: G07F 19/20 Automatic teller machines [ATMs]
• CPC Class Codes: G07F 19/201 Accessories of ATMs
• CPC Class Codes: G07F 7/08 by coded identity card or credit card or other personal identification means without personal verification means G07F7/02

Abstract

A credit transaction processing system processes data related to a commodity entered into by using a card (17) owned by a customer and a recording card (16) owned by a store. First, merchant transaction data necessary for a credit sale stored in the recording medium (16), such as account number data for the store, data specifying a credit company, and data representing an upper limit of an amount to to be sold through a credit sale, are read by a card reader (5), and then, customer transaction data stored in the customer'"'"'s recording card, such as account number data of the customer, data specifying a credit company and an identification number or code is read. If and when the customer enters his identification number by a ten-key (7), a central processing unit (12) determines whether the entered identification number coincides with the identification number read out of the customer'"'"'s card. If and when a coincidence occurs, it is determined whether data indicating the purchase price of the commodity purchased by the customer is lower than the upper limit of the amount to be sold through a credit sale. If so, the price data is transmitted to a center station (3) and the amount of the money required for the credit sale is transferred from the bank account of the credit company utilized by the customer to the bank account of the store.

Claims

1. A credit transaction processing system comprising:

a credit authorization terminal having a card receiving means;

a first card adapted to be insertable into said card receiving means;

first recording medium means provided on said first card for storing merchant transaction data, said merchant transaction data including data indicating a maximum permitted amount of credit purchase and a plurality of account numbers respectively identifying merchant accounts into which funds may be electronically transferred;

a second card adapted to be insertable into said card receiving means;

second recording medium means provided on said second card for storing customer transaction data;

keypad means provided on said credit authorization terminal for inputting numeric data;

reader means provided in said credit authorization terminal for reading said merchant transaction data from said first card when said first card is inserted in said receiving means and for reading said customer transaction data from said second card when said second card is inserted in said receiving means;

processing means, responsively connected to said keypad means and said reader means, for determining whether said numeric data satisfies a predetermined relationship with one of said merchant and customer transaction data.

2. A credit transaction processing system in accordance with claim 1, wherein said numeric data includes data indicating a requested amount of a credit purchase, and wherein said processing means includes means for inhibiting data processing when the requested amount exceeds the maximum amount.

3. A credit transaction processing system in accordance with claim 1, wherein said processing means includes means for authorizing an electronic fund transfer to a selected one of said accounts.

4. A credit transaction processing system in accordance with claim 1, wherein said processing means is further for formatting selected portions of said numeric data, customer transaction data, and merchant transaction data into formatted data and for transmitting said formatted data to a remote location.

5. A method of processing transaction data comprising the steps of:

(a) reading merchant transaction data in a credit authorization terminal from a first recording medium provided on a first card, said merchant transaction data including data indicating a maximum permitted amount of credit purchase and a plurality of account numbers respectively identifying merchant accounts into which funds may be electronically transferred;

(b) reading customer transaction data in said credit authorization terminal from a second recording medium provided on a second card;

(c) obtaining numeric data from a keypad data entry device;

(d) after said steps (a), (b) and (c), determining whether said numeric data satisfies a predetermined relationship with one of said merchant transaction data and said customer transaction data, including determining whether said amount of requested credit is less than said maximum credit limit; and

(e) formatting selected portions of said numeric data, merchant transaction data, and customer transaction data, to generate formatted data, and transmitting said formatted data to a remote location. .Iadd.

6. The method of claim 5, including authorizing an electronic fund transfer to a selected one of said accounts. .Iaddend. .Iadd.7. A credit transaction processing system comprising:

a credit authorization terminal having a card receiving means;

a first card adapted to be insertable into said card receiving means;

first recording medium means provided on said first card for storing merchant transaction data, said merchant transaction data including data indicating a maximum permitted amount of credit purchase and at least one account number respectively identifying at least one merchant account into which funds may be electronically transferred;

a second card adapted to be insertable into said card receiving means;

second recording medium means provided on said second card for storing customer transaction data;

keypad means provided on said credit authorization terminal for inputting numeric data;

reader means provided in said credit authorization terminal for reading said merchant transaction data from said first card when said first card is inserted in said receiving means and for reading said customer transaction data from said second card when said second card is inserted in said receiving means;

processing means, responsively connected to said keypad means and said reader means, for determining whether said numeric data satisfies a predetermined relationship with one of said merchant and customer transaction data. .Iaddend. .Iadd.8. A credit transaction processing system in accordance with claim 7, wherein said numeric data includes data indicating a requested amount of a credit purchase, and wherein said processing means includes means for inhibiting data processing when the

7. requested amount exceeds the maximum amount. .Iaddend. .Iadd.9. A credit transaction processing system in accordance with claim 7, wherein said processing means includes means for authorizing an electronic fund transfer to said at least one selected account. .Iaddend. .Iadd.10. A credit transaction processing system in accordance with claim 7, wherein said processing means is further for formatting selected portions of said numeric data, customer transaction data, and merchant transaction data into formatted data and for transmitting said formatted data to a remote location. .Iaddend. .Iadd.11. A method of processing transaction data comprising the steps of:

(a) reading merchant transaction data in a credit authorization terminal from a first recording medium provided on a first card, said merchant transaction data including data indicating a maximum permitted amount of credit purchase and at least one account number respectively identifying at least one merchant account into which funds may be electronically transferred;

(b) reading customer transaction data in said credit authorization terminal from a second recording medium provided on a second card;

(c) obtaining numeric data from a keypad data entry device;

(d) after said steps (a), (b) and (c) determining whether said numeric data satisfies a predetermined relationship with one of said merchant transaction data and said customer transaction data, including determining whether said amount of requested credit is less than said maximum credit limit; and

(e) formatting selected portions of said numeric data, merchant transaction data, and customer transaction data, to generate formatted data, and transmitting said formatted data to a remote location. .Iaddend.

8. Iadd. The method of claim 11 including indicating a requested amount of a credit purchase and inhibiting data processing when the requested amount exceeds the maximum amount. .Iaddend.