US 8,694,437 B2Granted

Smartcard-based value transfer

AssigneeECEBS Limited

InventorsBarry Sim Hochfield, Anthony Breslin, Michael Peters

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Abstract

In a value transfer scheme, users are provided with programmable devices, for example, smart cards, capable of carrying data representing at least one available commodity value. Data representing user accounts is held at a remote processing station. Transactions between users are effected by the off-line exchange of data between users'respective smartcards, the exchanged data containing a record of each transaction entered into. The user account data for each user's account held at the remote processing station is updated only subsequently when the user's smartcard is on-line to the remote processing station and data therefrom is uploaded to the remote processing station. The scheme of the invention can, conveniently, be based around the ITSO scheme which is used to govern the secure transfer of data. The scheme is capable of providing a secure multi-commodity value transfer system.

Claims9

Dependent claims

A method for calculating a commodity transfer on both a first and second programmable hardware device by electronic communication between the first programmable hardware device and the second programmable hardware device, the method comprising the steps of:

storing on the first programmable device a first data item including a first value of the commodity owned by a first user, wherein the first user is an account holder of a first account;
storing on the second programmable device a second data item including a second value of the commodity owned by a second user, wherein the second user is an account holder of a second account;
sending of the first value from the first programmable hardware device to the second programmable hardware device;
sending of the second value from the second programmable hardware device to the first programmable hardware device;
subtracting by the second programmable hardware device a transfer value from the received first value to create a modified first value;
sending of the modified first value from the second programmable hardware device to the first programmable hardware device;
adding by the first programmable hardware device the transfer value to the received second value to create a modified second value;
sending of the modified second value from the first programmable hardware device to the second programmable hardware device.

5 more elements

Dependencies are inferred from the claim text.

Facts

Application: 10/548,762Filed 15 Mar 2004
Priority: GB 0305806.213 Mar 2003
Published: US 2007/0094149 A126 Apr 2007
Granted: 8 Apr 2014
Term ends: Not estimatedThe source records don’t support an estimate.

Classification10 codes

G06Q 40/04
Finance; Insurance; Tax strategies; Processing of corporate or income taxes: trading; Exchange, e.g. stocks, commodities, derivatives or currency…
G06Q 20/0425
Characterized in that the payment protocol involves at least one cheque: the cheque being electronic only
G06Q 20/367
Using electronic wallets or electronic money safes: involving electronic purses or money safes
G06Q 20/382
Payment protocols; Details thereof: insuring higher security of transaction