Browse Prior Art Database

Real Time Transaction Capture using Smart Cards

IP.com Disclosure Number: IPCOM000108749D
Original Publication Date: 1992-Jun-01
Included in the Prior Art Database: 2005-Mar-22
Document File: 2 page(s) / 68K

Publishing Venue

IBM

Related People

Fitzpatrick, GP: AUTHOR [+3]

Abstract

When standard credit cards are used to complete transactions (including telephone credit cards used to make phone calls) an electronic record of the transaction is retained only by the vendor of the goods or services. The customer typically receives only a paper receipt (in the case of conventional credit card purchases) or no receipt at all (in the case of telephone credit card use). For a complete summary of transaction information relating to a given card, the user must wait until a monthly billing cycle is completed and a "statement" is physically mailed.

This text was extracted from an ASCII text file.
This is the abbreviated version, containing approximately 53% of the total text.

Real Time Transaction Capture using Smart Cards

       When standard credit cards are used to complete
transactions (including telephone credit cards used to make phone
calls) an electronic record of the transaction is retained only by
the vendor of the goods or services.  The customer typically receives
only a paper receipt (in the case of conventional credit card
purchases) or no receipt at all (in the case of telephone credit card
use).  For a complete summary of transaction information relating to
a given card, the user must wait until a monthly billing cycle is
completed and a "statement" is physically mailed.

      As a result, it is difficult for the user to keep track of
transactions completed between billing cycles.  Moreover, the user
has no ready method of comparing available credit balances with
recent transactions.

      This article describes a method whereby "smart cards" (well
documented in prior art) are used in place of conventional credit
cards to both:
o  Complete transactions
o  Capture transactions
(Smart cards are similar to conventional credit cards containing a
magnetic strip.  However, smart cards may also contain more complex
components including Read-Only Memory (ROM), non-volatile storage,
photo images, mini-displays, etc.)

      Typically, the magnetic strip of a credit card is "swiped"
across a magnetic strip reader, and the credit card is then returned
to the user.  In this case, however, the smart card is placed in...