Patent ID: 6805284
Filing Date: 2004-10-19
Classification: G06Q,G07F

Abstract:
A method for conducting an electronic transaction for a transaction amount based upon presentation of a transaction card having a first plurality of bit location comprising identifier bit locations and a second plurality of bit locations comprising a plurality of value bit locations encoded thereon, said plurality of value bit locations comprising a plurality of linked lists of entries, one linked list for each denomination represented on said card, and one value bit entry for each increment of said denomination, said method comprising the steps of:(a) reading said first identifier bit locations; (b) ascertaining if the transaction value represented by said plurality of second value bit locations is sufficient to pay the transaction amount for said electronic transaction by determining the transaction value of the card by reading the value bits which have not been erased and comparing the transaction value to the transaction amount; and (c) decrementing said card in the transaction amount for said electronic transaction by obliterating at least one of said plurality of second value bit locations when said transaction value is at least equal to the transaction amount.