Patent ID: 6764001
Filing Date: 2004-07-20
Classification: G06Q,G07F

Abstract:
A method for executing cashless transactions, the method comprising:providing a portable electronic device having a portable device memory that stores a predetermined cash value; providing an electronic money terminal having a terminal memory; bringing the portable electronic device into electronic communication with the electronic money terminal; deducting a value, by the electronic money terminal, that exceeds the predetermined cash value from the portable device memory; storing a transaction amount that represents the predetermined cash value in the terminal memory; calculating a balance due that represents a difference between the predetermined cash value and the value; storing the balance due in the terminal memory; providing an electronic money management system that has a management memory; uploading the balance due to the electronic money management system; storing the balance due in the management memory; collecting a plurality of balances due in the terminal memory; uploading the plurality of balances due to the electronic money management system during one upload; sorting each of the plurality of balances due, at the electronic money management system, according to a time zone in which each balance due was transacted; deducting fees from each balance due based on respective time zones in which each balance due was transacted to generate respective payment amounts; and dispatching, from the electronic money management system, payment amounts to the electronic money terminal.