EP1129419A1 - Systeme et procede de traitement d'environnement a argent electronique heterogene - Google Patents

Systeme et procede de traitement d'environnement a argent electronique heterogene

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Publication number
EP1129419A1
EP1129419A1 EP98947763A EP98947763A EP1129419A1 EP 1129419 A1 EP1129419 A1 EP 1129419A1 EP 98947763 A EP98947763 A EP 98947763A EP 98947763 A EP98947763 A EP 98947763A EP 1129419 A1 EP1129419 A1 EP 1129419A1
Authority
EP
European Patent Office
Prior art keywords
electronic cash
brand
payment
charge
electronic
Prior art date
Legal status (The legal status is an assumption and is not a legal conclusion. Google has not performed a legal analysis and makes no representation as to the accuracy of the status listed.)
Withdrawn
Application number
EP98947763A
Other languages
German (de)
English (en)
Other versions
EP1129419A4 (fr
Inventor
Mordechai Teicher
Current Assignee (The listed assignees may be inaccurate. Google has not performed a legal analysis and makes no representation or warranty as to the accuracy of the list.)
Cardis Enterprise International NV
Original Assignee
Individual
Priority date (The priority date is an assumption and is not a legal conclusion. Google has not performed a legal analysis and makes no representation as to the accuracy of the date listed.)
Filing date
Publication date
Application filed by Individual filed Critical Individual
Publication of EP1129419A1 publication Critical patent/EP1129419A1/fr
Publication of EP1129419A4 publication Critical patent/EP1129419A4/fr
Withdrawn legal-status Critical Current

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Classifications

    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/08—Payment architectures
    • G06Q20/20—Point-of-sale [POS] network systems
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/04—Payment circuits
    • G06Q20/06—Private payment circuits, e.g. involving electronic currency used among participants of a common payment scheme

Definitions

  • the present invention relates to a smart card payment system, and in particular, to a stored-value payment system, such as for retail sales.
  • a “charge transaction” is a payment by an instrument such as a debit card or credit card, herein collectively referred to as a "charge card”.
  • a merchant receiving payment via a charge card transfers the customer's charge for settlement to the card issuer, either directly or indirectly via an acquirer or a transaction processing agency,
  • the term "charge function” herein denotes any facility, such as a credit or debit scheme, by which a customer may initiate a charge transaction.
  • a conventional charge card for example, contains a charge function.
  • the payment cards according to the present invention contain at least one charge function.
  • the term “acquirer” herein denotes a commercial entity which provides charge card acceptance and settlement for merchants. Acquirers include, but are not limited to banks and similar financial institutions.
  • Charge transactions are associated with published fees, settlement terms, benefits and incentives, involving customers, issuers, acquirers, transaction processors, communication providers, and other parties participating in the transaction or facilitating its completion.
  • issuer denotes any commercial entity which issues charge functions to customers, or, in the case where a payment card contains a single charge function, a commercial entity which issues payment cards to customers. Issuers include, but are not limited to banks and similar financial institutions. A particular bank may function both as an issuer and as an acquirer, but different divisions of the bank are typically involved with these separate functions.
  • the charge transaction market is highly competitive, with a number of issuers offering various and varying fee and incentive schemes to customers, and a number of acquirers seeking accounts with merchants. The customer decides which charge card(s) to carry and use, and the merchant decides which charge card(s) to accept.
  • Electronic cash is portable electronic money, stored in stored-value devices and transferred among them for payment and settlement.
  • the principal justification for electronic cash is in making convenient cost-effective customer payments for small purchases, for which charge transactions are too expensive to handle because of fixed, per-transaction costs of authorization and settlement.
  • settlement herein denotes the process of redeeming proprietary payment instruments for conventional monetary payment.
  • proprietary payment instruments include, but are not limited to, charge slips and electronic cash.
  • conventional monetary payment herein denotes payment made by monetary instruments not including charge transactions and electronic cash.
  • Conventional monetary payment includes, but is not limited to, checks, bank drafts, conventional cash, wire transfers (which herein are not considered electronic cash).
  • An example of settlement is that of a merchant sending charge slips from charge transactions to an acquirer, and then receiving a check which he may deposit in his bank account.
  • the term "merchant” herein denotes any business entity which offers goods and/or services to the customer and receives payment therefrom.
  • brand herein denotes the individual proprietary identification of specific proprietary payment instruments, charge functions, and so on, issued by a commercial entity, and the term “branding” herein denotes the applying of a brand to any such specific proprietary payment instruments, charge functions, and so on. Brands are typically used as means of commercially identifying these respective different proprietary payment instruments in order that customers may readily distinguish between them. In conventional systems as well as in the system according to the present invention, charge functions are identified by their respective brands.
  • charge functions which have brands.
  • a single commercial entity may own and administer several different brands of charge function.
  • a particular financial institution may offer customers both a credit card and a debit card, which are herein considered as two distinct brands of charge function, even though they are offered by, and identified with, the same financial institution.
  • the physical charge card is an instrument whereby the customer and a merchant may conveniently access that account. The physical charge card is not actually necessary for all accesses, as can be seen when a customer performs a charge transaction by verbally giving the account number to a merchant over the telephone.
  • the brand is technically an attribute of the charge function, rather than the card, customers tend to associate the brand with the card itself. Accordingly, in the examples herein, the brand will be treated as belonging to the charge function, but brands will sometimes be labeled for exemplary purposes in terms of cards.
  • a financial institution may offer customers two different types of credit card.
  • One such credit card type might be for "regular” customers, while the other might be for "preferred” customers and have different usage terms.
  • Such two different credit cards are herein also considered to be two distinct brands of charge function, even though they are offered by, and generally identified with, the same financial institution. Note, however, that the importance of brands is in the competitive marketplace, in terms of customer perception and preference. What constitutes a brand of charge function (what distinguishes one charge function brand from another) is therefore determined arbitrarily by the commercial entity that creates and/or administers the charge function brand.
  • charge function brands It is possible for two distinct charge function brands to differ only in their names or identification, but otherwise have precisely identical features such as fees, loading terms, settlement terms, and so on. Consequently, the system according to the present invention does not impose any individuality requirements on charge function brands, but rather accepts whatever charge function brands are created and administered, and it is a goal of the present invention to maintain the distinct identities of all charge function brands. To be compatible with the system according to the present invention, however, charge function brands must establish loading terms and settlement terms as defined herein.
  • every charge function has a specific brand.
  • a payment card with a single charge function may therefore be informally associated with that charge function. It is important to keep in mind, however, that it is the charge function, not the payment card, which actually has the brand.
  • a single payment card may have more than one charge function and may therefore be associated with more than one brand.
  • Settlement and Settlement Terms denotes the specific conditions, provisions, stipulations, and fees relating to the process by which a merchant completes the accounting and monetary reconciliation of a charge transaction. Settlement of charge transactions by merchants generally involves settlement fees paid to the acquirer. Settlement terms may vary according to the charge function brand associated with the charge transaction.
  • Stored-value device herein denotes any device or apparatus which is able to receive, store, and transfer electronic cash.
  • a typical electronic cash payment system includes a variety of stored-value devices: • Customer stored-value devices such as smart card-based electronic purses, or protected stored-value memories in personal computers, cellular telephones, toll-payment transponders, etc.
  • a payment card contains at least one electronic purse, which serves as a stored-value device.
  • Merchant stored-value devices such as an electronic cash drawer of an automatic or manual "point of sale” (POS), and are used to collect and accumulate electronic cash received from customer stored-value devices and transfer this electronic cash for settlement to issuer stored-value devices.
  • Issuer stored-value devices such as an electronic cash pool, maintained at an issuer computer to issue, collect, and monitor electronic cash.
  • Loading of electronic cash by customers generally involves transaction fees paid to the card issuer.
  • usage terms denotes the specific conditions, provisions, stipulations, and fees relating to the process by which a customer obtains a specific payment card and subsequently obtains goods and services through the use of that payment card, including the use of any charge functions and electronic cash on that payment card.
  • heterogeneous refers to payment instruments for use in a commercial environment, for which various payment, fee, and incentive schemes cooperate or coexist.
  • Charge card payment is generally heterogeneous, since there are a variety of different charge cards simultaneously available for use by customers and merchants. For example, a merchant may choose to accept three different charge cards, and notify customers by appropriate signs that these are accepted by him; a customer visiting this merchant and having one or more of the accepted cards, may choose which card to use for making payment.
  • the term “homogeneous” herein refers to payment instruments for use in a commercial environment, for which a single payment, fee, and incentive scheme exists. Conventional cash is homogeneous.
  • electronic cash also tends to be homogeneous, since the very essence of electronic cash is conceived by many as an alternative form of conventional cash. Therefore, electronic cash is usually issued only against payment with either conventional cash or directly from a bank account via a debit card, and the merchant fee is expected to be uniform to all issuers and very small, since for conventional cash there is no fee at all.
  • This reality prevents competition and suppresses entrepreneurial initiatives, because there is no obvious way for banks and other financial institutions to realize a suitable profit solely by offering an electronic cash system to consumers. That is, the business case for electronic cash is unclear, especially in a highly-competitive, fragmented business environment such as the United States of America.
  • the object of the present invention is to provide a heterogeneous electronic cash system, wherein electronic cash can be acquired against a variety of charge function brands, under a variety of fee and incentive schemes relating to loading and settlement. It is aimed at encouraging competition in multi-issuer environments and allowing the usage of credit cards, debit cards and cash to purchase electronic cash for use in a unified clearance and settlement environment.
  • a key goal of the present invention is to allow a common generic electronic cash to function simultaneously across a variety of distinct charge function schemes, such that different charge functions can act as acquisition instruments for the same electronic cash. These different charge functions incorporated into different or shared payment cards can share a common stored value pool without conflict, and can make use of a common infrastructure for settlement of the electronic cash.
  • the present invention provides diverse charge functions with interoperability.
  • the present invention permits the electronic cash to maintain a connection with the brand of acquisition instrument (the charge function) used by the customer to acquire the electronic cash, throughout the complete cycle from acquisition through settlement.
  • the different charge function schemes may interoperate with electronic cash in the same commercial arena while preserving their own individual identities and fee structures.
  • generic (brandless) electronic cash can be acquired by a customer through a specific, branded charge function, such as with a familiar credit card or debit card.
  • the electronic cash remains generic, but is associated for purposes of spending and settlement with the specific brand of charge function through which the electronic cash was acquired by the customer, starting from the time of loading onto the customer's payment card, through the time of use to purchase goods or services at a merchant's point of sale, and through the time of presentation for settlement by the merchant to a transaction processing agency or financial institution.
  • This offers commercial benefits by allowing independent charge payment plans ("charge functions") to take advantage of a common electronic cash while maintaining separate transaction accounting in order to implement different fee structures, settlement terms, customer brand identities, and so forth.
  • charge functions independent charge payment plans
  • the use of a generic electronic cash lowers operating costs by allowing different brands of charge function to use a single financial infrastructure, and also simplifies payment transaction procedures at a merchant's point of sale, thereby reducing overhead.
  • the present invention furthermore permits these advantages to be realized with minimal change to the existing charge payment systems and their infrastructure.
  • the basis of the present invention is in conceiving each electronic cash transaction as a fraction of a parent transaction which has been executed to acquire this electronic cash.
  • each electronic cash transaction as a fraction of a parent transaction which has been executed to acquire this electronic cash.
  • a certain credit charge function identified by the brand "Brand A” has been used to acquire $25 of electronic cash (the "parent transaction")
  • payment of $1 of this electronic cash (a "child transaction") will be considered as paying 1/25 of the parent transaction and will therefore be considered as a "Brand A" transaction.
  • Child transactions relating to the same parent transaction brand can optionally be combined to determine the related fees and incentives ("settlement terms"); for example, a merchant collecting a total of $200 electronic cash from various customers who have used the "Brand A" charge function to purchase electronic cash, would submit this $200 for settlement with an acquirer under the settlement terms relating to $200 settlement of the credit charge function "Brand A", rather than as a group of the individual transactions.
  • settlement terms For example, a merchant collecting a total of $200 electronic cash from various customers who have used the "Brand A" charge function to purchase electronic cash, would submit this $200 for settlement with an acquirer under the settlement terms relating to $200 settlement of the credit charge function "Brand A", rather than as a group of the individual transactions.
  • Another aspect of the present invention relates to the integrity and accounting of the system.
  • two alternative approaches are presented:
  • the term "payment card” or "card” will be used hereinafter relating mostly to any payment instrument personal to a customer and including both at least one charge function (identifying and authorizing transactions with a remotely chargeable account of a customer, such as a bank account or credit account) and at least one stored-value function ("electronic purse”).
  • Each charge function of a payment card is associated with a brand identifiable via a machine-readable code (i.e., a charge function brand can be read automatically by a device such as a point of sale without the need for manual input).
  • a payment card can be implemented in the form of a plastic, credit-card-sized card; on a personal computer; in a cellular telephone; in a control box of a TV set; etc.
  • a payment card contains at least one electronic purse for holding electronic cash.
  • the electronic cash itself is brandless, but the electronic purse contains a contents brand ID register which associates the electronic cash contained in the electronic purse with a specific charge function brand.
  • the contents brand ID register of an electronic purse is permanently associated with a predetermined brand (for example, a simple brand identifier), so that any electronic cash loaded into the electronic purse will thereby become associated with the corresponding charge function brand.
  • the brand associated with the contents brand ID register of an electronic purse may be changed, so that the charge function brand associated with the electronic cash contained in the electronic purse can be altered or updated as necessary.
  • point of sale here denotes any device that can interface with a payment card via a contact, contactless or remote communication link. Upon so interfacing, a point of sale can accept payment from a payment card, activate a charge function, transfer electronic cash, and so forth.
  • a point of sale accumulates received electronic cash in an included secure storage device ("electronic cash drawer”), and may also accumulate charge transactions done off-line in another included storage device ("electronic safe”.)
  • loading device herein denotes any device which can add electronic cash to an electronic purse of a payment card, against a charge function under “loading terms” (e.g., loading transaction fees) specific to the charge function brand.
  • settlement system denotes any device or system operated by an acquirer, a card issuer, or a transaction processing agency, to communicate, directly or indirectly, with points of sale for transferring charge orders and electronic cash for settlement.
  • settlement systems include, but are not limited to computers, computer systems, and computer networks, including prior art devices and systems of this sort.
  • electronic cash itself never has any brand. Brands are an attribute of charge functions only.
  • electronic cash when stored in an electronic purse of a payment card or in an electronic cash drawer of a POS, is associated with the specific brand of charge function by which the electronic cash was acquired. This temporary association is maintained for the electronic cash throughout all transactions and in all stored-value devices in which the electronic cash is stored until the electronic cash ultimately returns to the original issuing financial institution. At this point the electronic cash is returned to a common pool and is dissociated from the brand. When later reissued by a financial institution, the electronic cash becomes again associated with whatever particular brand of charge function was used by the customer to make the most recent acquisition.
  • Embodiments of the present invention illustrate both permanent and temporary association of a stored-value device with a brand.
  • a heterogeneous electronic cash payment system having at least two different brands of charge function, each brand having loading terms and settlement terms
  • the heterogeneous electronic cash payment system including: (a) a plurality of payment cards, each payment card belonging to a customer, each payment card having at least one charge function to a remotely chargeable account of the customer, and at least one electronic purse operative to containing electronic cash and having a contents brand ID register for associating a charge function brand with the electronic cash; (b) at least one loading device operative to interfacing with a specified payment card, adding electronic cash to the electronic purse of the specified payment card against payment from a selected charge function according to the loading terms of the brand of the selected charge function; (c) at least one point of sale having a transaction record and an electronic cash drawer for storing electronic cash, the point of sale operative to interfacing with a presented payment card of the plurality of payment cards, receiving an electronic cash payment from the presented payment card, reading the brand of a predetermined charge function of
  • a system as described above wherein at least one of the loading devices is contained within an enhanced point of sale, the enhanced point of sale being operative, upon interfacing with a presented payment card chosen for paying a payment sum according to a specified charge function selected from the at least one charge function, the loading terms stipulating a predetermined reload sum, to automatically determine whether to: (i) charge the predetermined reload sum to the specified charge function; (ii) return to the electronic purse of the payment card as change an amount of electronic cash equal to the difference between the predetermined reload sum and the payment sum; and (iii) record the payment sum and the brand of the specified charge function onto the transaction record.
  • the settlement system comprises: (i) a merchant computer owned by a merchant operative to collecting and submitting charge slips, transaction records, and electronic cash; (ii) a settlement network operative to receiving charge slips and issuing conventional monetary payment therefor; (iii) an electronic cash pool operative to storing electronic cash and exchanging electronic cash for conventional monetary payment; and (iv) an acquirer computer operative to receiving charge slips and electronic cash; making conventional monetary payment to the merchant; exchanging electronic cash with the electronic cash pool for conventional monetary payment; and submitting charge slips to the settlement network in exchange for conventional monetary payment.
  • a method for managing a heterogeneous electronic cash environment the environment having a plurality of charge function brands, each brand having loading terms and settlement terms, the environment further having a plurality of payment cards, each payment card having an electronic purse and a contents brand ID register, the environment further having at least one loading device and at least one point of sale with an electronic cash drawer and a transaction record, the environment further having a settlement system
  • the method including the steps of: (a) interfacing a selected payment card to a loading device, initiating a charge transaction with a charge function of the selected payment card, transferring electronic cash into the electronic purse of the selected payment card according to the loading terms for the brand of the charge function, and setting the contents brand ID register of the selected payment card to the brand of the charge function; (b) interfacing a presented payment card to a specified point of sale, transferring an electronic cash payment from the electronic purse of the presented payment card to the electronic cash drawer of the specified point of sale, and recording the brand set in the contents brand ID register of the presented payment card
  • Figure 1 shows several different brands of payment cards in a heterogeneous environment involving isolated flow.
  • Figure IA shows a detailed view of a heterogeneous card environment involving isolated flow.
  • Figure 2 shows the transaction flow of electronic cash and charges involving isolated flow.
  • Figure 3 shows the contents of a log file for transactions in a heterogeneous environment involving isolated flow.
  • Figure 4 shows a heterogeneous environment which returns electronic cash as change and requires no separate reloading terminals, involving zero average flow.
  • Figure 4A shows a detailed view of the heterogeneous environment which returns change and requires no separate reloading terminals, involving zero average flow.
  • Figure 5 is a flowchart showing the operation of an automatic change manager for zero average flow.
  • Figure 6 shows the flow of electronic cash, change, and charges in the environment of Figure 4 and Figure 5, involving zero average flow.
  • Figure 7 shows the transactions of a point of sale in the environment of Figure 4, Figure 5, and Figure 6, involving zero average flow.
  • Figure 8 shows a log file corresponding to the transactions shown in Figure 7 in a heterogeneous environment involving zero average flow.
  • Figure 9 shows the settlement for the transactions of Figure 7 and Figure 8.
  • Figure 10 shows the settlement of transactions from issuer to acquirer.
  • Figure 11 shows the organization of an embodiment of a multiple charge function payment card suitable for use in a heterogeneous environment involving isolated flow.
  • Figure 12 shows the organization of another embodiment of a multiple charge function payment card suitable for use in a heterogeneous environment involving zero average flow.
  • Figure 13 is a flowchart showing the additional operations of an automatic change manager for a multiple charge function payment card in an environment of zero average flow.
  • Figure 14 shows advanced accounting features of a POS regarding the handling and settlement of charge transactions in a heterogeneous environment.
  • Figure 1 describes a first preferred embodiment, of the case involving isolated flow, with three groups 3, 4, 5 of different payment cards having different charge function brands denoted as "Card-1", “Card-2” and “Card-3” (in this embodiment, a payment card has a single charge function, so that the charge function brand can be associated with the payment card as well as with the charge function).
  • a payment card interfaces with a loading device 2 to add value from the respective account in a financial institution computer 1. Payment is made with a payment card in a POS 6, and POS 6 communicates with a transaction processing and a settlement computer 7, which further communicates with computer 1, to process and settle the transactions which have been made via the charge functions and electronic purses of the payment cards.
  • FIG. IA is a more detailed description of the system of Figure 1.
  • a payment card 8 corresponds to any of cards 3, 4, or 5 ( Figure 1).
  • Payment card 8 contains an electronic purse 8-1 having an electronic cash balance in a register 8-2, and also contains a charge function 8-6 associated with an account ID 8-3.
  • brand identifier 8-4 serves as the contents brand ID register for electronic purse 8-1.
  • a POS 6 contains a card interface 6-5 to communicate with payment cards as well as a customer interface 6-7 to communicate with a customer 13, and a processor interface 6-11 to communicate with a settlement system 7, which in turn communicates with financial institutions 1.
  • a transaction manager 6-6 which determines the appropriate means of handling the current transaction. If the purchase amount exceeds a predetermined minimum charge transaction amount (for example, $25), transaction manager 6-6 initiates a charge transaction from charge function 8-6 for account ID 8-3 of payment card 8, and handles this charge via a charge transaction unit 6-9.
  • a predetermined minimum charge transaction amount for example, $25
  • transaction manager 6-6 receives payment in electronic cash from electronic purse 8-1 and puts this electronic cash in an electronic cash drawer 6-4, handling this transaction by an electronic purse payment unit 6-3. Otherwise, if the purchase is less than the predetermined minimum charge transaction amount but there is not sufficient electronic cash for the purchase amount, transaction manager 6-6 declines the transaction.
  • POS 6 maintains an internal log file 6-1, listing all transactions, and has an electronic safe 6-8 for off-line charge transactions.
  • a log file is a special case of a more general transaction record.
  • a "transaction record” is any record of the transactions maintained by a device (such as a point of sale), including, but not limited to a sequential data file such as a log file, or a cumulative register containing a net total amount of the applicable transactions.
  • the recording of a payment onto the transaction record can involve operations including, but not limited to, writing data into a sequential data file, and updating a cumulative register.
  • Financial institutions 1 has a set of credit accounts 1-1, bank accounts 1-2, and electronic cash pools 1-3, which store electronic cash that is not in circulation. Electronic cash from electronic cash pools 1-3 flows into loading device 2 for reloading payment card 8.
  • this charge function will be the same charge function 8-6 with the same account ID 8-3 that is contained with payment card 8, but it is also possible to use a different payment card with a different account ID, provided that the different payment card has the same brand of charge function as the payment card that is being loaded.
  • the predetermined minimum charge transaction amount is illustrated as being $25. Different amounts are possible.
  • Figure 2 describes the transaction flow within the system of Figure 1 and Figure 2
  • a charge payment 21 at a financial institution 20 is used at a loading device 2 to load electronic cash 22 into a card 23.
  • Card 23 then pays at a POS 26 with electronic cash 24 or charge 25.
  • POS 26 communicates with transaction processing and settlement computer 7 to settle with financial institution 20 its electronic cash 27 and charges 28.
  • Figure 3 describes the contents of log file 6-1 of Figure IA, which is submitted by POS 26 to financial institution 20 for accounting and fee calculation.
  • Figure 3 shows 20 out of 500 sale transactions, whose values (column 32) are either ⁇ $25 (an example of a predetermined minimum charge transaction amount; purchase sums less than this are small transactions paid by electronic cash), or > $25 (larger payments made by the charge function). Then, columns 33-38 present the transactions according to the charge function brand used and the transaction value (fee-1 relates to transactions ⁇ $25 and fee-2 relates to higher values).
  • FIG. 4A is a detailed description of the embodiment of Figure 4.
  • the system is similar to that illustrated in Figure IA, except as noted here.
  • financial institution 1, settlement system 7, and payment card 8 of Figure 4A are identical to those of Figure IA.
  • Loading device 2 of Figure 1 and Figure IA is absent from Figure 4 and Figure 4A, because the system of Figure 4 and Figure 4A requires no loading device; reloading of payment card 8 is accomplished by the local circulation of electronic cash from POS 41 to payment cards 3, 4, and 5 ( Figure 4) or payment card 8 (Figure 4A).
  • POS 41 contains many elements which correspond to POS 6 of Figure IA, but there are some differences.
  • an automatic transaction manager 41-6 operates according to the procedure of Figure 5 and has an additional function over that of Figure IA, an electronic purse loading unit 41-10. It is electronic purse loading unit 41-10 which performs the function of loading device 2 in Figure 1 A.
  • Figure 5 describes the operation of automatic transaction manager 41-6 of Figure 4A.
  • the automatic transaction manager Upon presentation of a payment card, the automatic transaction manager checks at a decision point 5-3 whether to accept or reject the payment card based on the payment card's charge function brand.
  • Figure 5 also shows how POS 41 automatically selects how payment is to be made by the payment card.
  • automatic transaction manager 41-6 compares the payment sum ($SUM) against a predetermined minimum charge transaction amount ($MINCT). This predetermined minimum charge transaction amount is taken as a predetermined reload sum. upon which is based the amount of electronic cash that will be returned as change to reload the payment card.
  • $MINCT and the predetermined reload sum are $25.
  • Automatic transaction manager 41-6 selects whether to charge the payment sum to the charge function of the payment card, take the payment sum from the electronic cash stored in electronic purse 8-1, or whether to receive $25 via the charge function and return the change ($25 minus the payment sum) to the electronic purse.
  • electronic cash is taken from electronic cash drawer 41-4 of POS 41 ( Figure 4A).
  • E change the expected value of electronic cash returned as change from the POS to the payment card's electronic purse is:
  • $SUM situation is $ 25 )
  • the amount $SUM will be deducted from the payment card's electronic purse and transferred to the POS; thus,
  • Epayment the expected value of electronic cash transferred in payment from a payment card to the POS is:
  • Equation (1) the magnitude of E change in Equation (1) equals the magnitude of E paytnent in Equation (2). This means that for any POS, electronic cash flow from electronic purses to this POS during a regular business cycle equals on average the amount of electronic cash returned as change from the POS to payment cards. Thus secure, flawless, off-line operation is guaranteed.
  • FIG 6 describes the flow of electronic cash and charges with the embodiment of Figure 4 and Figure 5.
  • Electronic cash 50 is a one-time initial preload of a card 23 from financial institution 20. After this preload there are no more direct transactions between card 23 and financial institution 20.
  • a charge 61 is made either for payments > $25 (step 5-10 or step 5-7 in Figure 5).
  • An electronic cash payment 62 from cards to POS is made in step 5-9 ( Figure 5), while electronic cash is returned as change 63 via step 5-8 ( Figure 5).
  • electronic cash amounts flowing via payment 62 and change return 63 are statistically equal, thus electronic cash is merely revolving between cards and POS, while the carrier of payment value from cards to POS is a charge transaction 61 alone (except for minor statistical fluctuations).
  • Charges 67 are transferred from a POS 66 to financial institutions 20 via settlement computers, while electronic cash revolves, after initial priming through 64, through positive and negative adjustments 64 and 65 at the end of each business cycle, to refresh a priming amount predetermined for each POS according to the typical sizes and number of transactions. It would be appreciated that, in a 1 million card system, 25 million dollars (12.5 million on average in electronic purses, and 12.5 million in merchant and bank stored-value devices), revolving in cycles 62 - 63 and 64 - 65, will enable revenue flow 100 times larger per year (assuming each card is used for $200 purchases/month,) actually flowing through conventional charge transactions 61 - 67. Thus the very essence of electronic cash is redefined in this scheme: here electronic cash is a means of cost-effectively splitting relatively large conventional charge transactions into small pieces for micro-payments, rather than being a new and problematic monetary creature.
  • Figure 7 describes the operation of a POS in the embodiment of Figure 4 to Figure 6 through 500 random transactions, out of which 20 are shown and 480 (#11 through #490) have been hidden because of the page space.
  • the POS has been initially primed with $750, to compensate for statistical fluctuations.
  • Column 71 shows purchase prices, selected randomly between 500 and $30, and made via three charge function brands shown in column 74.
  • Columns 75 through 77 show charges, sorted out according to the respective charge function brand, to those transactions which are charge transactions.
  • payment of $23.16 could not be made from a purse containing only $17.48, and therefore $25 has been charged to the Card-1 brand charge function, and $1.84 has been returned as change to the card's electronic purse.
  • FIG. 8 A closer look at Figure 6 through Figure 9 shows the following: 1.
  • the merchant sees on the log file ( Figure 8) all his sales, with each sale against a charge function brand used to make the payment and also (optionally,) a separation between smaller and larger sales.
  • This list is submitted for claiming the respective totals, minus the agreed fees, from the respective card brand issuers. This is the normal way of doing business with charge cards. Thus, the entire concept of electronic cash actually becomes invisible to the merchant!
  • settlement is divided between acquirers, which handle the merchant side, and issuers, which handle the customer side.
  • acquirers sign merchants on contracts which specify which charge function brands a merchant agrees to accept and under what fee terms, while issuers sign customers on their charge function usage terms and fees.
  • the merchant submits the credit and debit slips to his acquirer, which pays the merchant the total slip amount minus a "Merchant Service Charge” (sometimes called “the Merchant Discount”), e.g., a percentage of the total, calculated separately for each fee scheme which has been accepted by the merchant.
  • the acquirer then submits these slips, via a complex and sophisticated settlement network, to the various issuers.
  • Each respective issuer then returns to the acquirer the total of the received slips, minus an "Interchange Fee", which is substantially smaller than the corresponding merchant service charge.
  • the issuer revenue includes the interchange fee
  • the acquirer revenue includes the difference between the merchant service charge and the interchange fee.
  • the present invention in one of its variations, aims at minimizing the changes needed to be made in the acquirer-issuer settlement network and procedures. This variation is described herein in reference to Figure 10 in addition to Figure 9.
  • FIG 10 shows that at the end of the business cycle, a merchant computer 100 communicates with an acquirer computer 102 for settlement.
  • Merchant computer 100 can be a single POS, or a merchant's office computer which collects charge slips and electronic cash, and submits them along with transaction records for settlement.
  • Merchant computer 100 may also be able to consolidate charge slips, electronic cash, and transaction records for a plurality of merchant's POS.
  • F#l for small purchases, for instance Fee 1 of Card-1 of Figure 9.
  • data file 101 can be a summary or consolidation of the transaction records from the merchant's points of sale.
  • a "computer” such as merchant computer 100 or acquirer computer 102, can be any system, device, or set of devices, including, but not limited to a conventional computer or a computer network, which is capable of presenting and accepting data files as described herein.
  • acquirer computer 102 receives charge slips, electronic cash, and claims from merchant computer 101, and makes conventional monetary payments to the merchant based on the amount $C of the claims, less a merchant service charge.
  • acquirer computer 102 initiates transactions, directly or indirectly with merchant, optionally via merchant bank account 108, in order to make a conventional monetary payment to the merchant. For example, acquirer computer 102 could simply send the merchant a check.
  • the acquirer settlement 105 with the F#l issuers via settlement network 106 is based on normal processing of F#l slips, conforming to exiting networks and procedures, thus yielding for the acquirer the total value of slips $S minus the interchange fees on these slips. Also, in an adjustment flow
  • the acquirer settles with a central electronic cash pool 104 the amount (positive or negative) of adjustment $E, which is made by conventional monetary payment.
  • Electronic cash pool 104 stores electronic cash and exchanges electronic cash with acquirer computer 102 for conventional monetary payment.
  • settlement network 106 receives charge slips totaling $S from acquirer computer 102 and returns a conventional monetary payment for the charge slips, in the amount $S minus the interchange fee, to acquirer 102. It is the responsibility of settlement network 106 to settle payment of the charge slips with the holders of the payment cards.
  • the acquirer pays the merchant $M conventional
  • $M conventional $S - D($S) (6) where D($S) is the merchant service charge on $S.
  • the acquirer collects from issuers the same amount as before ($A conventiona ⁇ ), but pays the merchant $M settle :
  • $M settle $C - D($C) (7) and receives an adjustment amount of $E in electronic cash. Both $C, D($C), and
  • $E are as previously defined.
  • the difference between the acquirer's conventional net fee and the acquirer's net fee according to the present invention is:
  • $Rconventional - $R-ettle I($Q - I($S) (10) In a fixed percentage-based fee scheme, this is:
  • the difference between the conventional net fee and that according to the present invention is the interchange fee calculated on $E, where $E is the amount presented at electronic cash pool 104 for adjustment.
  • $E (made in a conventional monetary payment) can be negative or positive, and statistically averages to zero.
  • the acquirer collects fees which deviate slightly from the "normal" fees collected according to slips. Sometimes this small deviation will be positive and at other times negative so that the average is zero.
  • One approach for handling these deviations is simply to accept them, since statistically they have no net effect.
  • An alternative approach is in recording electronic cash adjustments with system electronic cash pool 104 along with the respective merchant service charges, and creating a mutual inter-acquirer fee adjustment mechanism, to compensate for such deviations. Multiple Charge functions on a Single Payment Card
  • a payment card known as a "multiple charge function payment card” contains a plurality of different brands of charge functions.
  • a single such payment card might have both a credit and debit charge function.
  • the customer would select which of the various charge functions to use for a particular purchase (provided, of course, that the merchant honors the chosen charge function).
  • the customer might wish to make a $50 purchase using the payment card's debit charge function, but might wish to make a $500 purchase using the payment card's credit charge function, even though there might be a sufficient balance in the debit account to cover the purchase.
  • Multiple charge function payment cards can be used in a system of isolated flow ( Figure IA, Figure IA, Figure 2, and Figure 3) or in a system of zero average flow (Figure 4, Figure 4A, Figure 5, Figure 6, and Figure 7).
  • Figure 11 illustrates an embodiment of a multiple charge function payment card which is suitable for use in a system of isolated flow according to the present invention.
  • Multiple charge function payment card 200 contains an external interface 200-10, and a plurality of branded charge functions illustrated as 200-1 and 200-5, which respectively have account ID 200-2 and account ID 200-6; and which respectively have electronic purse 200-3 with electronic cash balance 200-4, and electronic purse 200-7 with electronic cash balance 200-8.
  • the ellipsis indicates that additional charge functions can also be present on payment card 200.
  • multiple charge function payment card 200 is loaded with electronic cash at loading device 2 ( Figure 1 and Figure IA) according to the brand of the desired charge transaction selected by customer 13 ( Figure IA).
  • a customer might usually wish to reload the payment card with electronic cash using a debit charge transaction, but may occasionally desire to reload the payment card with electronic cash using a credit charge transaction.
  • the electronic cash would be Brand 1 or Brand n (in Figure 11) and would be placed into electronic purse 200-3 or electronic purse 200-7, respectively ( Figure 11). Thereafter, the electronic cash in electronic purse 200-3 would be associated with Brand 1, and the electronic cash in electronic purse 200-7 would be associated with Brand n.
  • each electronic purse has an implicit contents brand ID register in its brand identifier. That is, the contents brand ID register of each electronic purse is permanently assigned for the payment card.
  • FIG 12 illustrates another embodiment of a multiple charge function payment card 300 for use in a system of zero average flow according to the present invention.
  • payment card 300 contains an external interface 300-10, and a single electronic purse 300-1 which has an electronic cash balance 300-2.
  • electronic purse 300-1 also has an explicit contents brand ID register 300-3 which associates the electronic cash in electronic purse 300-1 with a specific charge function brand.
  • payment card 300 instead of a single charge function 8-6 ( Figure 4A), payment card 300 has multiple charge functions, illustrated as a Brand 1 charge function 300-4 and a Brand n charge function 300-8. The ellipsis fixed indicates that additional charge functions can also be present on payment card 300.
  • Charge function 300-4 has an account ID 300-5 and a brand 300-6.
  • Charge function 300-8 likewise has an account ID 300-7 and a brand 300-9.
  • the specific charge function which was most recently used in a charge transaction is identified by having its brand indicated in contents brand ID register 300-3.
  • electronic purse 300-1 contains electronic cash associated with the specific charge function which was most recently used in a charge transaction. For example, if contents brand ID register 300-3 indicates Brand 1 300-6, then this means that electronic cash balance 300-2 was acquired through a transaction involving Brand 1 300-6. Note that in the embodiment of Figure 12, contents brand ID register 300-3 is writeable and its value may be reassigned.
  • multiple charge function payment card 300 When used in a system of zero average flow, multiple charge function payment card 300 is automatically reloaded with electronic cash as change at a POS whenever the purchase amount exceeds the amount of electronic cash in the electronic purse of the payment card ( Figure 4 and Figure 4A) according to the brand of the desired charge function selected by customer 13 for the charge transaction ( Figure 4 A, with operation as detailed in Figure 5).
  • Figure 4 and Figure 4A the brand of the desired charge function selected by customer 13 for the charge transaction
  • the multiple charge function payment card has additional steps to insure that all the electronic cash in the electronic purse is associated with a single charge function brand (the brand which is indicated by contents brand ID register 300-3). If the purchase amount is greater than or equal to the minimum charge transaction, then no change is involved, and the processing of a purchase using a multiple charge function payment card is handled the same as that using a regular payment card as shown in Figure 5.
  • FIG 13 shows the steps for a multiple charge function payment card that are executed when the purchase amount is less than the minimum charge transaction but greater than the balance of electronic cash in the electronic purse.
  • the processing begins at the output of step 5-6 (as in Figure 5) where the payment sum exceeds the electronic cash balance in the electronic purse of the multiple charge function payment card ($SUM ⁇ $BALANCE is not the case, i.e., $SUM > $BALANCE).
  • step 5-6 shows the steps for a multiple charge function payment card that are executed when the purchase amount is less than the minimum charge transaction but greater than the balance of electronic cash in the electronic purse.
  • the processing begins at the output of step 5-6 (as in Figure 5) where the payment sum exceeds the electronic cash balance in the electronic purse of the multiple charge function payment card ($SUM ⁇ $BALANCE is not the case, i.e., $SUM > $BALANCE).
  • SUM ⁇ $BALANCE is not the case, i.e., $SUM > $BALANCE.
  • a decision point 13-2 the customer's choice of charge function brand for the charge transaction is compared against the brand associated with electronic cash in the electronic purse as indicated in contents brand ID register 300-3. If the customer selects the same charge function brand then the remainder of the transaction is handled exactly the same as in a regular charge card, and processing resumes at step 5-7 of Figure 5. If, however, the customer selects a different charge function brand for the present charge transaction than that which is associated with the balance in the electronic purse (according to contents brand ID register 300-3), then the existing electronic cash in the electronic purse must be somehow removed and accounted for before electronic cash associated with a different charge function brand can be loaded into the electronic purse.
  • step 13-4 the entire balance ($BALANCE) of electronic cash in the electronic purse is paid toward the purchase ($SUM), thereby emptying the electronic purse.
  • step 13-6 the payment of $BALANCE is recorded into the log file of the POS for the brand indicated by the contents brand ID register 300-3 ( Figure 12) of the multiple charge function payment card. This is in keeping with the fact that the electronic cash which was just transferred out of the electronic purse is associated with the charge function brand indicated by the contents brand ID register 300-3, and continues to maintain that association through ultimate transfer to the financial institution.
  • the minimum charge transaction amount $MINCT is charged to the multiple charge function payment card via the charge function which was selected by the customer.
  • $SUM the previous balance of the electronic purse has already been paid against the purchase amount $SUM, so the amount due on the purchase is $SUM - $BALANCE, where $BALANCE is the original amount of electronic cash in the electronic purse at the start of the transaction.
  • $BALANCE is the original amount of electronic cash in the electronic purse at the start of the transaction.
  • the change to be returned to the multiple charge function payment card by the POS is $MINCT - $SUM + $BALANCE, and in a step 13-10, the POS transfers this amount into the electronic purse of the multiple charge function payment card.
  • the contents brand ID register 300-3 is set to the brand selected by the customer.
  • the remaining amount due on the purchase ($SUM - $BALANCE) has been paid via the charge transaction, so in a step 13-14 the payment of $SUM - $BALANCE is recorded by the POS in the log file for the brand selected by the customer (which is the brand now indicated by contents brand ID register 300-3).
  • the value of $BALANCE is updated to the new value of $MINCT - $SUM + $BALANCE.
  • the value of $BALANCE is stored in register 300-2 of the multiple charge function payment card ( Figure 12). At this point, the processing returns to decision point 5-12 as in Figure 5 for a regular payment card.
  • step 13-4 it is also possible to optionally omit decision point 13-2 and proceed directly to step 13-4 regardless of the customer's choice of brand for the charge transaction.
  • One piece will involve the electronic cash in the electronic purse, and the other piece will involve the charge transaction. They will, of course, add up to the amount of the purchase ($SUM) and will both be associated with the same brand of charge transaction.
  • POS point of sale
  • An advanced POS 400 contains aggregate features 400-2 as previously described.
  • the basic POS is illustrated by POS 6, and aggregate features 400-2 include log file 6-1, payment sum 6-2, electronic purse payment unit 6-3, electronic cash drawer 6-4, card interface 6-5, transaction manager 6-6, customer interface 6-7, electronic safe 6-8, charge transaction unit 6-9, and processor interface 6-11.
  • POS 41 In the case of a POS used in an environment of zero average flow ( Figure 4A) the basic POS is illustrated by POS 41, and aggregate features 400-2 include log file 41-1, payment sum 41-2, electronic purse payment unit 41-3, electronic cash drawer 41-4, card interface 41-5, transaction manager 41-6, customer interface 41-7, electronic safe 41-8, charge transaction unit 41-9, electronic purse loading unit 41-10, and processor interface 41-11.
  • the additional features of advanced POS 400 include brand accounting modules for each brand accepted by POS 400, illustrated as a Brand 1 brand accounting module 400-10 and a Brand n brand accounting module 400-20. These brand accounting modules contain registers such as transaction counters 400-12 and 400-22, respectively, and accumulated transaction balance registers 400-14 and 400-24, respectively.
  • Such counters and registers are additional examples of transaction records, as previously defined.
  • the ellipsis defined indicates that further brands may be represented with brand accounting modules. For each transaction performed with a specific brand, the respective transaction counter is incremented and the respective accumulated transaction balance register is updated to reflect the total transaction amount seen for the specific brand.
  • the accounting information contained in the brand accounting module can be used in a variety of ways. For example, the settlement terms for a particular brand may be conditioned on the number of transactions conducted for that brand. For advanced POS 400, this number is contained in the transaction counter (400-14, 400-24) of the brand accounting module (400-10, 400-20) of advanced POS 400.
  • a merchant may have a large number of points of sale and may wish to consolidate the transaction totals for each brand directly from those points of sale without having to extract and compile data from log files 6-1 ( Figure IA) or 41-1 ( Figure 4A).
  • the transaction totals for the respective brands are contained in accumulated transaction balance registers 400-14 and 400-24.
  • the brand accounting modules 400-10 and 400-20 can be reset to zero as desired.

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  • Business, Economics & Management (AREA)
  • Accounting & Taxation (AREA)
  • Strategic Management (AREA)
  • Physics & Mathematics (AREA)
  • General Business, Economics & Management (AREA)
  • General Physics & Mathematics (AREA)
  • Engineering & Computer Science (AREA)
  • Theoretical Computer Science (AREA)
  • Finance (AREA)
  • Cash Registers Or Receiving Machines (AREA)
  • Financial Or Insurance-Related Operations Such As Payment And Settlement (AREA)

Abstract

Ce système de valeur stockée hétérogène permet une interopérabilité entre un certain nombre de marques de cartes de paiement privatives à structures de redevances différentes. L'argent électronique obtenu à l'origine grâce à une marque de carte de paiement spécifique est reconsolidé au niveau du règlement, garantissant une reddition de compte pertinente pour ces redevances. Le système peut accepter un flux isolé, l'argent électronique circulant d'un dispositif de chargement (2) vers une carte de paiement (8) et donc d'une carte de paiement (8) vers un point de vente (6) vers le règlement (7), l'argent électronique circulant alors dans une carte de paiement uniquement depuis le dispositif de chargement. Le système peut également accepter une circulation de l'argent électronique, le rechargement se faisant par conséquent par renvoi de l'argent électronique à une carte de paiement (8) comme monnaie d'une transaction de facturation au niveau du point de vente (6). Des cartes de paiement possédant plus d'une fonction de facturation peuvent être acceptées, le client pouvant préciser quelle fonction de facturation sera utilisée pour acquérir l'argent électronique.
EP98947763A 1998-10-13 1998-10-13 Systeme et procede de traitement d'environnement a argent electronique heterogene Withdrawn EP1129419A4 (fr)

Applications Claiming Priority (1)

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PCT/IL1998/000497 WO2000022556A1 (fr) 1998-10-13 1998-10-13 Systeme et procede de traitement d'environnement a argent electronique heterogene

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EP1129419A4 EP1129419A4 (fr) 2005-03-16

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AU (1) AU9457598A (fr)
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JPH11250164A (ja) * 1998-03-03 1999-09-17 Hitachi Ltd 使用料徴収機能を有する電子マネー処理方法および電子マネー格納装置
GB2448278B (en) 2006-01-30 2010-08-04 Fortress Gb Ltd System for accepting value from closed groups
CN104637195B (zh) * 2013-11-12 2017-03-15 中国银联股份有限公司 一种ic卡电子现金脱机圈存方法以及系统
WO2021163232A1 (fr) * 2020-02-10 2021-08-19 Sweet Lawrence Mark Système et procédé de mise en œuvre d'une architecture de paiement qui fournit un paiement instantané et sans risque en monnaie électronique

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EP0605070A2 (fr) * 1992-12-23 1994-07-06 Deutsche Bundespost Telekom Méthode de transfert de sommes de monnaie vers ou à partir de cartes à puce
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EP0157416A2 (fr) * 1984-04-03 1985-10-09 Omron Tateisi Electronics Co. Système pour le traitement de transactions financières utilisant une carte à circuit intégré
US5455407A (en) * 1991-11-15 1995-10-03 Citibank, N.A. Electronic-monetary system
EP0605070A2 (fr) * 1992-12-23 1994-07-06 Deutsche Bundespost Telekom Méthode de transfert de sommes de monnaie vers ou à partir de cartes à puce
US5534683A (en) * 1993-09-30 1996-07-09 Giesecke & Devrient Gmbh System for conducting transactions with a multifunctional card having an electronic purse
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AU9457598A (en) 2000-05-01
WO2000022556A1 (fr) 2000-04-20
EP1129419A4 (fr) 2005-03-16
CA2347460A1 (fr) 2000-04-20
CA2347460C (fr) 2009-12-29

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