WO1994019777A1 - Electronic funds control system - Google Patents

Electronic funds control system Download PDF

Info

Publication number
WO1994019777A1
WO1994019777A1 PCT/FI1994/000070 FI9400070W WO9419777A1 WO 1994019777 A1 WO1994019777 A1 WO 1994019777A1 FI 9400070 W FI9400070 W FI 9400070W WO 9419777 A1 WO9419777 A1 WO 9419777A1
Authority
WO
WIPO (PCT)
Prior art keywords
card
prepaid
control device
balance data
prepaid card
Prior art date
Application number
PCT/FI1994/000070
Other languages
French (fr)
Inventor
Tero Ilen
Original Assignee
Mikrokit Oy
Priority date (The priority date is an assumption and is not a legal conclusion. Google has not performed a legal analysis and makes no representation as to the accuracy of the date listed.)
Filing date
Publication date
Application filed by Mikrokit Oy filed Critical Mikrokit Oy
Priority to AU61102/94A priority Critical patent/AU6110294A/en
Publication of WO1994019777A1 publication Critical patent/WO1994019777A1/en

Links

Classifications

    • G—PHYSICS
    • G07—CHECKING-DEVICES
    • G07F—COIN-FREED OR LIKE APPARATUS
    • G07F7/00—Mechanisms actuated by objects other than coins to free or to actuate vending, hiring, coin or paper currency dispensing or refunding apparatus
    • G07F7/08—Mechanisms actuated by objects other than coins to free or to actuate vending, hiring, coin or paper currency dispensing or refunding apparatus by coded identity card or credit card or other personal identification means
    • G07F7/10—Mechanisms actuated by objects other than coins to free or to actuate vending, hiring, coin or paper currency dispensing or refunding apparatus by coded identity card or credit card or other personal identification means together with a coded signal, e.g. in the form of personal identification information, like personal identification number [PIN] or biometric data
    • G07F7/1008—Active credit-cards provided with means to personalise their use, e.g. with PIN-introduction/comparison system
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06K—GRAPHICAL DATA READING; PRESENTATION OF DATA; RECORD CARRIERS; HANDLING RECORD CARRIERS
    • G06K7/00—Methods or arrangements for sensing record carriers, e.g. for reading patterns
    • G06K7/0008—General problems related to the reading of electronic memory record carriers, independent of its reading method, e.g. power transfer
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/30—Payment architectures, schemes or protocols characterised by the use of specific devices or networks
    • G06Q20/34—Payment architectures, schemes or protocols characterised by the use of specific devices or networks using cards, e.g. integrated circuit [IC] cards or magnetic cards
    • G06Q20/341—Active cards, i.e. cards including their own processing means, e.g. including an IC or chip
    • G—PHYSICS
    • G07—CHECKING-DEVICES
    • G07F—COIN-FREED OR LIKE APPARATUS
    • G07F7/00—Mechanisms actuated by objects other than coins to free or to actuate vending, hiring, coin or paper currency dispensing or refunding apparatus
    • G07F7/08—Mechanisms actuated by objects other than coins to free or to actuate vending, hiring, coin or paper currency dispensing or refunding apparatus by coded identity card or credit card or other personal identification means
    • G07F7/0873—Details of the card reader
    • G07F7/088—Details of the card reader the card reader being part of the point of sale [POS] terminal or electronic cash register [ECR] itself
    • G07F7/0886—Details of the card reader the card reader being part of the point of sale [POS] terminal or electronic cash register [ECR] itself the card reader being portable for interacting with a POS or ECR in realizing a payment transaction

Definitions

  • the invention relates to an electronic funds control system particularly for so called prepaid cards.
  • the current means of payment comparable to cash include coins, notes, checks, bank bills and other docu ⁇ ments entitling to receipt of payment.
  • Value cards (pre ⁇ paid cards) for use in automatic charging devices are also generally known.
  • electronic payment means it has become apparent that small-value cash transactions would be more advantageous in respect of economy if they were dealt with by a sufficiently widely spread card system based of prepayment, instead of the central bank issuing and holding in circulation an ever increasing number and selection of coins. For some time now, there has been a need and plans for introduction of prepaid cards that could be used nationwide.
  • a national cash transaction service would over- come many of the problems that have been regarded as weaknesses of the electronic cash transaction systems and obstacles to their introduction.
  • the problems include the restriction of service to machines of a specified organization and the locally varying infra- structure, i.e. small number of points of payment.
  • checks can be conducted by methods and algorithms currently known e.g. from bank cards.
  • the drawback of prepaid cards is that they provide the user with insufficient information.
  • the purchasing power loaded on a card for wider use should be easily checkable on location, not only in specific service points. Since the idea of prepaid cards is that they are inexpensive and secure, they cannot be designed to include extra displays or other functions.
  • the object of the present invention is to find a decisive remedy for the above drawback.
  • This is to be achieved with the system according to the invention, which is characterised by comprising a prepaid card provided with logic means for maintaining the balance data on the card and updating it with every transaction and a control device receiving the prepaid card and communicating with it, the current balance data on said prepaid card read through the device being checkable on the display of said device.
  • the primary advantage of the invention is that it provides a way of conducting transactions that is better and simpler than cash, both for the payer and the receiver of the payment and in respect of economy since a need for coins is diminished.
  • Another advantage of the invention is that it can be assumed to spread quickly since the control device is inexpensive to manufacture and therefore available to all and since it does not require that the shops or banks should change their existing systems of payment.
  • Fig. 1 shows a control device for a prepaid card according to the system of the invention on the scale of 1:1
  • Fig. 2 shows a cross-sectional view of a pre ⁇ paid card according to the system of the invention inserted in a control device.
  • the invention relates to an electronic funds control system particularly for prepaid cards, each card comprising logic means and/or memory means.
  • These cards are usually called smart cards, IC cards or chip cards.
  • a card of this kind can be used in cash transactions as it contains up-to-date data about the cardholder's funds.
  • the card is bought at a service point at its nominal value, and it is valid in all shops which have a card reading device and particularly in automates until the purchasing power loaded on the card has been used up.
  • the card may be disposable or re-loadable e.g. at a service point.
  • the system according to the invention com ⁇ prises a control device 1 as shown in Fig. 1, the device receiving the prepaid card and communicating with it e.g.
  • Each prepaid card 5 advantageously has a card-specific identifier known to the cardholder and stored in the card. The identifier is read via mechanical keys 4 of the control device 1 as the card is activated upon checking the balance data.
  • the use of a control device in connection with the card requires that the correct identifier should be fed into the control device via the keyboard 3 of the device. If desired, the same control function can also be included in the terminal receiving the pay- ment. Unauthorized use of prepaid cards can thus be prevented.

Abstract

The invention relates to an electronic funds control system particularly for prepaid cards. The system according to the invention comprises a prepaid card provided with logic means for maintaining the balance data on the card and updating it with every transaction and a control device (1) receiving the prepaid card and communicating with it, the current balance data on said prepaid card read through the device being checkable on the display (2) of said device.

Description

Electronic funds control system
The invention relates to an electronic funds control system particularly for so called prepaid cards. The current means of payment comparable to cash include coins, notes, checks, bank bills and other docu¬ ments entitling to receipt of payment. Value cards (pre¬ paid cards) for use in automatic charging devices are also generally known. With the development of electronic payment means, it has become apparent that small-value cash transactions would be more advantageous in respect of economy if they were dealt with by a sufficiently widely spread card system based of prepayment, instead of the central bank issuing and holding in circulation an ever increasing number and selection of coins. For some time now, there has been a need and plans for introduction of prepaid cards that could be used nationwide.
A national cash transaction service would over- come many of the problems that have been regarded as weaknesses of the electronic cash transaction systems and obstacles to their introduction. The problems include the restriction of service to machines of a specified organization and the locally varying infra- structure, i.e. small number of points of payment. In a prepaid card system, which primarily replaces coins and small amounts of money, checks can be conducted by methods and algorithms currently known e.g. from bank cards. The drawback of prepaid cards is that they provide the user with insufficient information. The purchasing power loaded on a card for wider use should be easily checkable on location, not only in specific service points. Since the idea of prepaid cards is that they are inexpensive and secure, they cannot be designed to include extra displays or other functions.
The object of the present invention is to find a decisive remedy for the above drawback. This is to be achieved with the system according to the invention, which is characterised by comprising a prepaid card provided with logic means for maintaining the balance data on the card and updating it with every transaction and a control device receiving the prepaid card and communicating with it, the current balance data on said prepaid card read through the device being checkable on the display of said device.
The primary advantage of the invention is that it provides a way of conducting transactions that is better and simpler than cash, both for the payer and the receiver of the payment and in respect of economy since a need for coins is diminished. Another advantage of the invention is that it can be assumed to spread quickly since the control device is inexpensive to manufacture and therefore available to all and since it does not require that the shops or banks should change their existing systems of payment.
The other advantageous embodiments of the invention are characterised by what is stated below in the claims. In the following the invention will be described in greater detail by means of examples with reference to the attached drawings, wherein
Fig. 1 shows a control device for a prepaid card according to the system of the invention on the scale of 1:1, Fig. 2 shows a cross-sectional view of a pre¬ paid card according to the system of the invention inserted in a control device.
The invention relates to an electronic funds control system particularly for prepaid cards, each card comprising logic means and/or memory means. These cards are usually called smart cards, IC cards or chip cards. A card of this kind can be used in cash transactions as it contains up-to-date data about the cardholder's funds. The card is bought at a service point at its nominal value, and it is valid in all shops which have a card reading device and particularly in automates until the purchasing power loaded on the card has been used up. The card may be disposable or re-loadable e.g. at a service point. In addition to a prepaid card provided with logic means, the system according to the invention com¬ prises a control device 1 as shown in Fig. 1, the device receiving the prepaid card and communicating with it e.g. via mechanical keys or a magnetic tape reader. The current balance data on the prepaid card read through the control device can be checked on a display 2 of the device. The control device 1 also comprises a keyboard 3 needed for the checking and for switching the control device on and off. Attention is now drawn to Fig. 2. Each prepaid card 5 advantageously has a card-specific identifier known to the cardholder and stored in the card. The identifier is read via mechanical keys 4 of the control device 1 as the card is activated upon checking the balance data. The use of a control device in connection with the card requires that the correct identifier should be fed into the control device via the keyboard 3 of the device. If desired, the same control function can also be included in the terminal receiving the pay- ment. Unauthorized use of prepaid cards can thus be prevented.
It is obvious to one skilled in the art that the different embodiments of the invention are not limited by the examples given above but may vary within the scope of the attached claims.

Claims

Claims
1. An electronic funds control system parti¬ cularly for prepaid cards, c h a r a c t e r i s e d by comprising a prepaid card (5) provided with logic means for maintaining the balance data on the card and updating it with every transaction and a control device (1) receiving the prepaid card and communicating with it, the current balance data on said prepaid card read through the device being checkable on the display (2) of said device.
2. The system according to claim 1, c h a r ¬ a c t e r i s e d in that in each card (5) is stored a card-specific identifier, which is transferred to the control device (1) or to an external reading device by data transfer means as the card is activated upon con¬ ducting transactions and/or checking the balance data, whereby the use of the card (5) in connection with a control device (1) or an external reading device requires that the identifier should be fed into the card-receiving device (1) via the keyboard (3) or the like of the device.
PCT/FI1994/000070 1993-02-24 1994-02-23 Electronic funds control system WO1994019777A1 (en)

Priority Applications (1)

Application Number Priority Date Filing Date Title
AU61102/94A AU6110294A (en) 1993-02-24 1994-02-23 Electronic funds control system

Applications Claiming Priority (2)

Application Number Priority Date Filing Date Title
FI930828A FI930828A0 (en) 1993-02-24 1993-02-24 ELECTRONIC CONTROL SYSTEM FOR CONTAINERS
FI930828 1993-02-24

Publications (1)

Publication Number Publication Date
WO1994019777A1 true WO1994019777A1 (en) 1994-09-01

Family

ID=8537456

Family Applications (1)

Application Number Title Priority Date Filing Date
PCT/FI1994/000070 WO1994019777A1 (en) 1993-02-24 1994-02-23 Electronic funds control system

Country Status (3)

Country Link
AU (1) AU6110294A (en)
FI (1) FI930828A0 (en)
WO (1) WO1994019777A1 (en)

Cited By (8)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
EP0724238A1 (en) * 1995-01-24 1996-07-31 Europay International S.A. Card apparatus and cashless transaction system
EP0803832A2 (en) * 1996-02-28 1997-10-29 Hitachi, Ltd. Card holder-type balance display
EP0798649A3 (en) * 1996-03-25 1998-08-19 Kabushiki Kaisha Toshiba Portable terminal apparatus for ic card compatible with a plurality of applications
GB2319104B (en) * 1995-12-08 1999-04-21 Hitachi Ltd IC card reader/writer and method of operation thereof
EP0895205A3 (en) * 1997-07-31 1999-11-24 Fujitsu Limited Card reader
US6000607A (en) * 1995-12-08 1999-12-14 Hitachi, Ltd. IC card reader/writer and method of operation thereof
KR100505144B1 (en) * 1996-09-19 2005-11-08 다이니폰 인사츠 가부시키가이샤 Cardholder
US10891609B2 (en) 2018-06-25 2021-01-12 Advanced New Technologies Co., Ltd. Transaction card and information displaying method

Citations (3)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
US4719338A (en) * 1985-08-12 1988-01-12 Ncr Corporation Pocket calculator with credit card controller and dispenser
US4814591A (en) * 1987-04-13 1989-03-21 Kabushiki Kaisha Toshiba Portable medium
US4827111A (en) * 1986-04-08 1989-05-02 Casio Computer Co., Ltd. Intelligent-type IC card containing IC circuit and battery

Patent Citations (3)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
US4719338A (en) * 1985-08-12 1988-01-12 Ncr Corporation Pocket calculator with credit card controller and dispenser
US4827111A (en) * 1986-04-08 1989-05-02 Casio Computer Co., Ltd. Intelligent-type IC card containing IC circuit and battery
US4814591A (en) * 1987-04-13 1989-03-21 Kabushiki Kaisha Toshiba Portable medium

Cited By (13)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
WO1996023283A2 (en) * 1995-01-24 1996-08-01 Europay International S.A. Card apparatus and cashless transaction system
WO1996023283A3 (en) * 1995-01-24 1996-10-03 Europay Int Sa Card apparatus and cashless transaction system
EP0724238A1 (en) * 1995-01-24 1996-07-31 Europay International S.A. Card apparatus and cashless transaction system
US6000607A (en) * 1995-12-08 1999-12-14 Hitachi, Ltd. IC card reader/writer and method of operation thereof
US6016957A (en) * 1995-12-08 2000-01-25 Hitachi, Ltd. IC card reader/writer and method of operation thereof
GB2319104B (en) * 1995-12-08 1999-04-21 Hitachi Ltd IC card reader/writer and method of operation thereof
EP0803832A3 (en) * 1996-02-28 2000-05-31 Hitachi, Ltd. Card holder-type balance display
EP0803832A2 (en) * 1996-02-28 1997-10-29 Hitachi, Ltd. Card holder-type balance display
EP0798649A3 (en) * 1996-03-25 1998-08-19 Kabushiki Kaisha Toshiba Portable terminal apparatus for ic card compatible with a plurality of applications
KR100505144B1 (en) * 1996-09-19 2005-11-08 다이니폰 인사츠 가부시키가이샤 Cardholder
EP0895205A3 (en) * 1997-07-31 1999-11-24 Fujitsu Limited Card reader
US6168078B1 (en) 1997-07-31 2001-01-02 Fujitsu Limited Card reader
US10891609B2 (en) 2018-06-25 2021-01-12 Advanced New Technologies Co., Ltd. Transaction card and information displaying method

Also Published As

Publication number Publication date
AU6110294A (en) 1994-09-14
FI930828A0 (en) 1993-02-24

Similar Documents

Publication Publication Date Title
US8011588B2 (en) Electronic wallet device and method of using electronic value
US6016955A (en) Electronic payment method and system having several calculation units and electronic payment devices
KR100338492B1 (en) Value Transfer System
US6155484A (en) Electronic money system of token and value mixed type
US6338048B1 (en) Electronic transaction system
US5478993A (en) Process as safety concept against unauthorized use of a payment instrument in cashless payment at payment sites
US4007355A (en) Data-transfer system
CN100583107C (en) IC card, electronic currency management and holding method and unit
KR0149946B1 (en) Electronic banking system
EP0546584A1 (en) Data transfer method
EP0775990A3 (en) IC card automated transaction terminal and IC card used therein
US6959873B2 (en) Electronic cash system for an electronic wallet
ES2249033T3 (en) SMART CARD AND SMART CARD OPERATION PROCEDURE.
US6345762B1 (en) Automatic vending machine
WO1989002140A1 (en) Data carrying devices
US5033021A (en) Method of recording successive balances in an electronic memory, and a system for implementing said method
WO1994019777A1 (en) Electronic funds control system
EP0793206A2 (en) IC card reader/writer and operation method thereof
EP1074951B1 (en) Settlement system and card
WO1991013411A1 (en) Method for handling cash or other confidential information electronically
JP2000200377A (en) Device for depositing money in card
KR100363204B1 (en) System for exchange the items of an account use for vending machine and Method for exchange the items of an account
JPH09134457A (en) Trasaction device for portable recording medium
JP2001202482A (en) Card system and computer readable recording medium
JP2002245492A (en) Radio card system

Legal Events

Date Code Title Description
AK Designated states

Kind code of ref document: A1

Designated state(s): AT AU BB BG BR BY CA CH CN CZ DE DK ES FI GB GE HU JP KP KR KZ LK LU LV MG MN MW NL NO NZ PL PT RO RU SD SE SK UA US UZ VN

AL Designated countries for regional patents

Kind code of ref document: A1

Designated state(s): AT BE CH DE DK ES FR GB GR IE IT LU MC NL PT SE BF BJ CF CG CI CM GA GN ML MR NE SN TD TG

DFPE Request for preliminary examination filed prior to expiration of 19th month from priority date (pct application filed before 20040101)
121 Ep: the epo has been informed by wipo that ep was designated in this application
REG Reference to national code

Ref country code: DE

Ref legal event code: 8642

122 Ep: pct application non-entry in european phase
NENP Non-entry into the national phase

Ref country code: CA