Browse Prior Art Database

Method of registering credit cards for loss protection

IP.com Disclosure Number: IPCOM000012057D
Original Publication Date: 2003-Apr-04
Included in the Prior Art Database: 2003-Apr-04
Document File: 1 page(s) / 39K

Publishing Venue

IBM

Abstract

Automated Teller Machines (ATM) are widely available. They are capable of reading credit card data and are connected to computer databases via existing communication media. They are routinely given access to credit and debit cards, therefore they are trusted. This article describes how existing ATM machines would provide a service by which the customer would feed in all credit cards so that their information would be stored in a database. The customer would be supplied with an account number and a telephone number to call in the event that the cards are lost.

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Method of registering credit cards for loss protection

The credit cards and identification cards in one's wallet or purse are items of great personal value and importance. If they are lost or stolen then the risk of identity theft or the fraudulent purchase of merchandise or services is greatly increased. When you discover that your cards are missing then it is imperative that you notify all relevant agencies so that your cards can be invalidated and replaced, but it can be difficult and inconvenient to contact them all in a timely fashion. This invention describes a business method which makes it much easier and faster to have the missing cards cancelled and replaced.

There are in existence web sites which will provide you with the ability to record your cards and to have them cancelled/replaced with one phone call. This kind of service has drawbacks. You must key in all your card data manually and you must trust a potentially unreliable vendor over the Internet. A better solution would automate the reading of the cards and involve only the most trusted vendors.

A better way to find all information is as follows:

A new menu option is included in an ATM system that provides for "Card

Registration" service The processing of the menu option allows a customer to insert as many credit cards

as need to be registered. The Credit Card registration database is updated with the newly registered credit

cards. Previously registered credit cards are updated accordingly, such...