System and method for conducting cashless transactions on a computer network

A system for extending funds to a consumer account to conduct cashless transactions on a computer network, comprising:

• a plurality of consumer terminal apparatus coupled to said computer network, each of said plurality of consumer terminal apparatus comprising a processor and a dedicated memory including an available fund stored therein;
• a financial services provider computer coupled to said computer network;
• and
• an issuer bank computer coupled to said computer network;
• wherein said processor of at least one of said plurality of consumer terminal apparatus generates request data for an increase in said available fund stored in said at least one consumer terminal apparatus and increases said available fund by a reload sum if granted request data is received from said financial services provider computer;
• wherein said financial services provider computer receives over said computer network said request data from said at least one consumer terminal apparatus for an increase in said available fund located in said memory of said at least one consumer terminal apparatus, determines whether to grant said received request, and if granted, transmits said granted request data to said at least one consumer terminal apparatus and transmits reload data representing said reload sum over said network to said issuer bank computer;
• and
• wherein said issuer bank computer receives said reload data and bills a consumer account associated with said at least one consumer terminal apparatus for said reload sum.

A method for conducting cashless transactions on a computer network with a consumer terminal apparatus coupled to said network, said consumer terminal apparatus comprising a memory, a communications device, a display and input means, said method comprising the steps of:

• storing data representative of at least an available fund in said memory of said consumer terminal apparatus;
• accessing said computer network with said communications device;
• receiving transaction information data from a merchant computer coupled to said network;
• transmitting selecting data with said communications device to said merchant computer over said computer network responsive to said input means and said transaction information;
• increasing said available fund located in said memory of said consumer terminal apparatus if the difference between said transaction cost and said available fund is below a predetermined threshold;
• and
• decreasing said available fund responsive to said transaction cost and said selecting data.

A method for extending funds from a host system to a consumer terminal apparatus comprising a memory storing an available fund separate from said host system to complete a cashless transaction over a network, comprising the steps of:

• receiving at said host system over said network a request for an increase in said available fund from said consumer terminal apparatus to complete a cashless transaction;
• determining at said host system whether to grant said received request for said consumer terminal apparatus;
• and
• transmitting a reply signal from said host system to said consumer terminal apparatus indicating whether said request was granted,
• wherein said available fund in said consumer terminal apparatus is increased if said request is granted and wherein said available fund is used to complete said cashless transaction.

A consumer terminal apparatus for conducting cashless transactions on a computer network, comprising:

• a memory comprising a first storage area for storing data representative of an available fund, data representative of a current number of available fund increases and data representative of a maximum number of available fund increases allowed;
• a communications device for accessing said computer network and receiving from a merchant computer cashless transaction signals representing at least one cashless transaction to select and a cashless transaction amount required to complete said at least one cashless transaction and for transmitting selection data responsive to said input means to said merchant computer, said selection signal representing a selected cashless transaction to be conducted with said merchant computer over said computer network;
• a display for displaying information representative of said at least one cashless transaction and said available fund;
• an input means for selecting at least one of said at least one cashless transaction;
• and
• a processor for increasing said available fund when said available fund is less than a selected transaction amount of said selected cashless transaction;
• and for decreasing said available fund by said selected transaction amount to complete said selected cashless transaction, wherein said processor updates said current number of available fund increases upon each occurrence of said available fund increase.