Prepayment wristband and computer debit system
First Claim
1. A transaction system, comprising:
- a plurality of articles, each being attachable to a user in such a manner that the article cannot be readily removed, said article bearing an identification and having substantially no exchange monetary value, and said article being usable for financial transactions;
a computerized accounting system maintaining an account associated with each said article, said system being programmed to accept said identification of an article and accept in association therewith a monetary value of a transaction involving the article bearing the identification, for arithmetically adjusting a balance maintained in the computerized accounting system in association with the article identification.
4 Assignments
0 Petitions
Accused Products
Abstract
A financial transaction system that does not require the need for cash, checks or credit cards to carry out financial transactions. In return for prepayment of specified sum, a bar coded wristband is issued to a customer. On issuance of the wristband, a data base record is created that is cross-referenced with the bar code number, as well as an account number, an issue date and a present balance of the account. When the user wishes to purchase goods or services, the bar code of the wristband is scanned, and the amount of the transaction is then placed into the system. The corresponding account is debited. The wristband is constructed so as to be waterproof, and includes an adhesive strip with small tear strips for fastening around the user'"'"'s wrist. An attempted removal of the wristband is effective to substantially destroy it and render it unusable to other persons.
9 Citations
30 Claims
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1. A transaction system, comprising:
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a plurality of articles, each being attachable to a user in such a manner that the article cannot be readily removed, said article bearing an identification and having substantially no exchange monetary value, and said article being usable for financial transactions;
a computerized accounting system maintaining an account associated with each said article, said system being programmed to accept said identification of an article and accept in association therewith a monetary value of a transaction involving the article bearing the identification, for arithmetically adjusting a balance maintained in the computerized accounting system in association with the article identification. - View Dependent Claims (2, 3)
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4. A method of carrying out financial transactions, comprising the steps of:
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issuing a wristband having an identification thereon;
inputting the wristband identification into a computer data base;
associating the wristband identification in the data base with an account;
in response to a request for the purchase of goods or services by a user of the wristband, inputting the wristband identification into the computer data base and debiting the account in the data base by the requested purchase amount of the goods or services. - View Dependent Claims (5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18)
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19. A transaction system, comprising:
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a wristband attachable to the wrist of a person, said wristband providing an identification;
a reader for reading the identification of the wristband;
a computer system programmed to receive the identification and associate the identification with an account number; and
said computer system being programmed so as to be responsive to receipt of the identification for accessing the account number and debiting the account according to a transaction cost, and providing a resulting current balance of the account number, whereby financial transactions can be carried out without using cash. - View Dependent Claims (20, 21, 22, 23, 24, 25)
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26. A transaction system, comprising:
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a wristband having at least one bar code formed thereon, an adhesive patch for attaching the wristband around the wrist of a person, lines of weakness formed on the wristband for destroying the wristband on attempted removal thereof, a human readable number, a computer accounting system including a data base for storing financial and associated data, a first type transaction station for issuing wristbands in exchange for prepayment amounts, and for associating in the data base the bar codes and the prepayment amounts, a second type transaction station for scanning the wristband bar codes in response to financial transactions, and forwarding to the data base the bar code number and a transaction amount, a computer associated with the data base for subtracting the transaction amount from the prepayment amount and providing a resulting balance. - View Dependent Claims (27, 28, 29, 30)
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Specification