Patent ID: 8407082
Filing Date: 2013-03-26
Classification: G06Q,G07B

Abstract:
1. A method comprising: at each of a plurality of transit system readers in a transit system, for each of a plurality of riders, each seeking to conduct an access transaction for access to a facility of the transit system using a payment device issued by an issuer in a payment system, wherein the issuer is a financial institution, performing the operations of: receiving transit data from a payment device, wherein the transit data includes account data identifying an account issued by the issuer; validating the transit data against a blacklist comprising rejected payment devices; communicating with the issuer, via a payment processor, to conduct a balance inquiry on the account issued by the issuer, prior to permitting the rider access to the facility; permitting the rider access to the facility of the transit system without authorizing a transfer from the account with the issuer; storing the transit data for each said access transaction into an aggregation set of said access transactions, wherein the receiving, validating, communicating, permitting, and storing are all performed within a time period not exceeding one second; deriving, using a predetermined transit policy of the transit system, a fare for one or more access transactions; and requesting from the issuer, after a predetermined threshold associated with an account has been met, that the issuer authorize and settle a transfer of funds, from the account to an account of the transit system, wherein the transfer amount is the aggregate fare charged to the account for the duration of the predetermined threshold, wherein the predetermined threshold is selected from the group consisting of a predetermined time period, a predetermined number of access transactions, a predetermined sum of the value of one or more access transactions, or a combination of the foregoing, wherein fare discounts may be given when a transfer from one facility of the transit system is made to another facility of the transit system, wherein: a plurality of said payment devices are associated with each said account; the transit data further includes access transaction account identification data associated with each said account; and the access transaction account identification data includes an identification for the particular said payment device of said plurality of said payment devices that are associated with the account.