Patent ID: 6112984
Filing Date: 2000-09-05
Classification: G07G

Abstract:
An electronic money storage and transfer system wherein at least electronic money is transferable between a centralized repository of money containing at least one financial account accessible by an account identification number and a portable electronic wallet, said wallet being independently connectable to other money storage and electronic money transfer devices so that electronic money may be transferred between said portable electronic wallet and said other money storage and electronic money transfer devices, said system comprising:means, in a financial institution, for electronically transferring said electronic money between said financial institution and said portable electronic wallet, said portable electronic wallet comprising:a first set of memory locations for storing said account identification number,a second set of memory locations for storing said electronic money transferred from said financial institution to said portable electronic wallet,a modem incorporated in said portable electronic wallet for accessing said financial account in said financial institution, and utilizing said account identification number stored in said first memory locations for storing said account identification number to transfer a selected quantity of said electronic money from said financial account in said financial institution into said second set of memory locations of said portable electronic wallet,a telecommunications receptacle for receiving a telecommunications plug for connecting said portable electronic wallet directly to said other electronic money storage and electronic money transfer devices and transferring said electronic money therebetween without connection to said financial institution, andinterface means for interfacing with said first set of memory locations, said second set of memory locations, and said means for connecting said portable electronic wallet to said other electronic storage and electronic money transfer devices.