Patent ID: 6474557
Filing Date: 2002-11-05
Classification: G06K,G06Q,G07F

Abstract:
A transaction system, comprising:at least one article usable in lieu of money, said article being attachable to a user and bearing an identification, and said article being usable for financial transactions to purchase goods and services for a predetermined period of time; a computerized accounting system programmed to initialize an account associated with said article when issued to a user, said accounting system being programmed to accept said identification of said article and a date of issuance of said article to the user and programmed to maintain in association therewith an initial monetary value to be credited to the associated account; and said accounting system being programmed to thereafter respond to a purchase transaction for a predetermined period of time after issuance of said article to the user by accepting said identification of said article in conjunction with a monetary value of a purchase and arithmetically debiting a balance maintained in the associated account in the computerized accounting system in association with the article identification.