Patent ID: 7702538
Filing Date: 2010-04-20
Classification: G06F,G06Q

Abstract:
1. A system for authorizing transponder-enabled transactions, comprising: a transaction server; a communications link between the transaction server and a point of sale device, wherein the point of sale device is associated with a merchant, the point of sale device in communication with a transponder identification information receiver, wherein at least some transponder identification information that is emitted from a transponder substantially upon presentation of both the transponder and a transaction for payment at the point of sale device is received by the transponder identification information receiver, communicated to the point of sale device via a connection between the transponder identification information receiver and the point of sale device, and then transmitted to the transaction server along with a payment amount for the transaction via the communication link between the point of sale device and the transaction server; an account table in communication with the transaction server; at least some financial account information representative of a financial account, wherein the financial account information is stored in the account table, the financial account information comprising at least one of financial account number information, financial account type information, financial account balance information, and financial account limit information, wherein at least some of the transponder identification information is linked to at least some of the financial account information; a payment authorization unit in communication with the transaction server and account table, wherein the payment authorization unit determines whether any of the payment amount is authorized to be applied to the financial account based on at least some of the financial account information and the payment amount, wherein the transaction server, account table and payment authorization unit are associated with at least one of an issuing bank or a credit network; and a registration unit in communication with the account table and at least one client workstation, wherein the registration unit receives the at least some financial account information and the at least some transponder identification information from the client workstation, wherein further the received financial account information is linked with at least some of the transponder identification information in the account table and the received financial account information is not previously linked to the transponder identification information.