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US4172552: Credit card processing system

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Filing Information

Inventor(s) John M. Case · Elmer J. Gorn ·
Assignee(s) CASE JOHN M · GORN ELMER J ·
Attorney/Agent(s) Russell & Nields ·
Primary Examiner Daryl W. Cook ·
Application Number US5944412
Filing date 09/21/1978
Issue date 10/30/1979
Predicted expiration date 09/21/1998
U.S. Classifications 235/380  · 234/59  ·
International Classifications G06K 1502  ·
Kind CodeA
International Classifications 235380;379;375;419;434;432 ·
5 Claims, No Drawings


Abstract

A credit card processing system involving the use of a machine for reading the data encoded in the magnetic stripe of such a card and for printing such data in MICR characters, at the point of sale, along the bottom of the merchant's bank sales slip copy of each transaction under the credit card. The machine also has means for selecting any one of four punches for making a punch out in said bank copy in any one of four predetermined optional ABA standards positions to designate the transaction as a credit or charge transaction and whether it is to be processed by EDP or EFT procedures. The system also includes all of the various instrumentalities necessary to process each transaction, guided by the punch out information, through the merchant's bank, the clearing house, and the issuer institution for final posting and billing.

Independent Claims | See all claims (5)

  1. 1. A credit card processing system comprising:(a) a credit card of the type carrying a magnetic stipe into which is encoded an identification of the issuer institution and the account number of the card holder;(b) a merchant's sales slip bank copy having imprinted thereon an identification of said merchant and the date of the transaction represented by said sales slip;(c) a machine adapted to receive said credit card and said bank copy;(d) said machine, comprising a printer for printing MICR characters onto an edge of said bank copy; a magnetic stripe reader; a date keyboard section; a monetary amount keyboard section; and a plurality of movable punch members each located in one of the optional ABA standards positions with respect to said edge of said bank copy; each of said positions being preselected to define the nature of the transaction recorded on said bank copy;(e) means for selecting any one of said punch members to be moved into a punch out operation on said bank copy and for moving the punch member so selected into such operation to produce a punch-out at one of said preselected positions on said edge;(f) said magnetic stripe reader being adapted to read the information encoded in said magnetic stripe and supplying said information to said printer;(g) said printer being adapted to print, in MICR characters along said edge, the information supplied to it by said magnetic stripe reader;(h) said date keyboard section being adapted to transmit to said printer the date information inserted into said keyboard section; and said printer also being adapted to print said information in other of said optional ABA standards positions adjacent the positions reserved for such punches; and(i) said amount keyboard section being adapted to transmit to said printer the amount inserted into said amount keyboard section and said printer also being adapted to print such amount onto said edge.

References Cited

U.S. Patent Documents

Document NumberAssigneesInventorsIssue/Pub Date
US3852571 HEMPSTEAD BANK Hall et al. Dec 1974
US3878364 BURROUGHS CORP Mack et al. Apr 1975
US3996450 NCR Corporation Kerkoff Dec 1976
US4013894 Addressograph Multigraph Corporation Foote et al. Mar 1977

Referenced By

Document NumberAssigneeInventorsIssue/Pub Date
EP0106361 OMRON TATEISI ELECTRONICS CO. Kazuma Tateisi et al. Dec 1991
US6644546 International Business Machines Corporation John L. George et al. Nov 2003
US6868408 Citibank, N.A. Sholom S. Rosen Mar 2005
US8060420 Gil Vardi Nov 2011
US8046299 American Express Travel Related Services Company, Inc. Rachel Heitz et al. Oct 2011
US8533108 --
US8573478 --
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US5453601 N.A. Citibank Sholom S. Rosen Sep 1995
US5623547 Jonhig Limited Timothy L. Jones et al. Apr 1997
US5898154 N.A. Citibank Sholom S. Rosen Apr 1999
US6047067 N.A. Citibank Sholom S. Rosen Apr 2000
US4678895 Omron Tateisi Electronics Co. Kazuma Tateisi et al. Jul 1987
US5163098 DAHBURA ABBUD S Abbud S. Dahbura Nov 1992
US5360824 BARKER DONALD E Donald E. Barker Nov 1994
US5455407 N.A. Citibank Sholom S. Rosen Oct 1995
US4780828 Pitney Bowes Inc. Robert H. Whisker Oct 1988
US5265007 Huntington Bancshares Incorporated Barnhard, Jr.; John L. et al. Nov 1993
US5920629 N.A. Citibank Sholom S. Rosen Jul 1999
US6047887 N.A. Citibank Sholom S. Rosen Apr 2000
USRE32985 Omron Tateisi Electronics Co. Masanori Nagata et al. Jul 1989
US4431911 RAYBURN CHARLES C Charles C. Rayburn Feb 1984
US5019695 Kabushiki Kaisha Nippon Conlux Eiji Itako May 1991
US5748908 Mason K. Yu May 1998
US6122625 N.A. Citibank Sholom S. Rosen Sep 2000
US5963648 N.A. Citibank Sholom S. Rosen Oct 1999
US5953423 N.A. Citibank Sholom S. Rosen Sep 1999
US5799087 N.A. Citibank Sholom S. Rosen Aug 1998
US4341951 BENTON WILLIAM M William M. Benton Jul 1982
US4933536 Dennis Lindemann Dennis Lindemann et al. Jun 1990
US6064990 International Business Machines Corporation Kevin Scott Goldsmith May 2000
US6149057 Dean Hollis Nov 2000
US4678896 CARLSON STEVEN R Steven R. Carlson et al. Jul 1987
US4594663 Omron Tateisi Electronics Co. Masanori Nagata et al. Jun 1986
US5043562 Mannesmann Kienzle GmbH Heinz-Josef Hautvast et al. Aug 1991
US5444793 NCR Corporation Stewart B. Kelland Aug 1995
US5444750 Bass Gambling Supplies Inc. William L. Stewart et al. Aug 1995

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