A system, method and apparatus for exchanging value using a smart card in a financial transaction is disclosed. The system includes a smart card having a contact interface and a contactless interface interactive with a closed purse application and an open purse application controlled by a microprocessor....http://www.google.com.au/patents/US8108307?utm_source=gb-gplus-sharePatent US8108307 - System, method and apparatus for value exchange utilizing value-storing applications
