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AssigneeInternational Business Machines Corporation
InventorsMaria Azua Himmel, Herman Rodriquez, Newton James Smith, Jr.
Estimating the term…
A system and method for using write-and-destroy transaction cards which cannot be reprogrammed. The write-and-destroy transaction cards are programmed (i.e., written to) at bit increments representing, in total, the stated value of the card. The stated value may be represented in one or a plurality of denominations and currencies. In use, the remaining value of a card can be ascertained at a merchant location by reading those bits which have not been erased. The remaining value can additionally be confirmed by contacting the issuing financial institution using a unique serial number which may be encoded onto each transaction card. Upon confirmation that the card has sufficient value to conduct the desired transaction, the card is decremented by erasure of the bits representing that value. By invocation of locally stored software, or based upon communication with a host location, the current rate of currency exchange between the merchant-preferred currency and the currency represented at bit increments on the transaction card can be ascertained and the appropriate value decremented by erasure from the card. Once bits have been erased, they cannot be reprogrammed.
A method for conducting an electronic transaction for a transaction amount based upon presentation of a transaction card having a first plurality of bit location comprising identifier bit locations and a second plurality of bit locations comprising a plurality of value bit locations encoded thereon, said plurality of value bit locations comprising a plurality of linked lists of entries, one linked list for each denomination represented on said card, and one value bit entry for each increment of said denomination, said method comprising the steps of:
A program storage device readable by machine, tangibly embodying a program of instructions executable by the machine to perform method steps for conducting an electronic transaction based upon presentation of a transaction card having a first plurality of bit location comprising identifier bit locations and a second plurality of bit locations comprising a plurality of value bit locations encoded thereon, said plurality of value bit locations comprising a plurality of linked lists of entries, one linked list for each denomination represented on said card, and one value bit entry for each increment of said denomination, said method comprising the steps of:
Dependencies are inferred from the claim text.