WO2001099069A2 - An account - Google Patents

An account Download PDF

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Publication number
WO2001099069A2
WO2001099069A2 PCT/IB2001/000705 IB0100705W WO0199069A2 WO 2001099069 A2 WO2001099069 A2 WO 2001099069A2 IB 0100705 W IB0100705 W IB 0100705W WO 0199069 A2 WO0199069 A2 WO 0199069A2
Authority
WO
WIPO (PCT)
Prior art keywords
account
transaction
transactions
parameters
card
Prior art date
Application number
PCT/IB2001/000705
Other languages
French (fr)
Other versions
WO2001099069A3 (en
Inventor
Jacobus Christian Pansegrouw
Original Assignee
Jacobus Christian Pansegrouw
Priority date (The priority date is an assumption and is not a legal conclusion. Google has not performed a legal analysis and makes no representation as to the accuracy of the date listed.)
Filing date
Publication date
Application filed by Jacobus Christian Pansegrouw filed Critical Jacobus Christian Pansegrouw
Priority to AU2001250569A priority Critical patent/AU2001250569A1/en
Publication of WO2001099069A2 publication Critical patent/WO2001099069A2/en
Publication of WO2001099069A3 publication Critical patent/WO2001099069A3/en

Links

Classifications

    • G—PHYSICS
    • G07—CHECKING-DEVICES
    • G07F—COIN-FREED OR LIKE APPARATUS
    • G07F7/00—Mechanisms actuated by objects other than coins to free or to actuate vending, hiring, coin or paper currency dispensing or refunding apparatus
    • G07F7/08—Mechanisms actuated by objects other than coins to free or to actuate vending, hiring, coin or paper currency dispensing or refunding apparatus by coded identity card or credit card or other personal identification means
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/04—Payment circuits
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/22—Payment schemes or models
    • G06Q20/227—Payment schemes or models characterised in that multiple accounts are available, e.g. to the payer
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/38—Payment protocols; Details thereof
    • G06Q20/385—Payment protocols; Details thereof using an alias or single-use codes
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/38—Payment protocols; Details thereof
    • G06Q20/40—Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
    • G06Q20/403—Solvency checks
    • G06Q20/4037—Remote solvency checks
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/38—Payment protocols; Details thereof
    • G06Q20/40—Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
    • G06Q20/405—Establishing or using transaction specific rules
    • G—PHYSICS
    • G07—CHECKING-DEVICES
    • G07F—COIN-FREED OR LIKE APPARATUS
    • G07F7/00—Mechanisms actuated by objects other than coins to free or to actuate vending, hiring, coin or paper currency dispensing or refunding apparatus
    • G07F7/08—Mechanisms actuated by objects other than coins to free or to actuate vending, hiring, coin or paper currency dispensing or refunding apparatus by coded identity card or credit card or other personal identification means
    • G07F7/10—Mechanisms actuated by objects other than coins to free or to actuate vending, hiring, coin or paper currency dispensing or refunding apparatus by coded identity card or credit card or other personal identification means together with a coded signal, e.g. in the form of personal identification information, like personal identification number [PIN] or biometric data

Definitions

  • This invention relates to an account and, more particularly, but not exclusively, to an electronic account.
  • Accounts are widely used to facilitate commercial or financial transactions and include banking accounts, customer accounts at retail outlets and computer network and telephone accounts. Transactions on accounts are usually enabled by the use of an access code such as a personal identification number (PIN) or an electronically encoded card, or both.
  • PIN personal identification number
  • electronically encoded card or both.
  • SIM Subscriber Identity Module
  • a card With banking accounts a card is usually issued to an account holder together with a PIN.
  • the card is electronically encoded and can be inserted into a reader such as are available on automatic teller machines or in banking institutions themselves. Once the card has been inserted into the reader it is required of the account holder to enter the PIN. If correctly entered access to the account is enabled and transactions can be effected.
  • a problem with the accounts described above exists in that unlimited access to an account is obtained if the correct PIN is used. Also, it is generally a tedious process to change a PIN and it is thus not advisable to provide third parties with a PIN where, for example, it is desired to allow a third-party access to the account for a period of time.
  • account denotes any facility for conducting and recording commercial or financial transactions.
  • an account having a plurality of individual access codes to permit transactions to be conducted thereby, characterised in that each access code has associated therewith a number of parameters each of which is selectively variably determinable by an account holder.
  • parameters to include a number of transactions permitted, a financial limit corresponding to a transaction, a frequency with which transactions can occur, a date on which a transaction can occur, a time at which a transaction can occur, a type or object of a transaction, telephone numbers which can be dialled and instructions to a third party indicating an emergency.
  • Still further features of the invention provide for at least one token, preferably at least one card, to be associated with the account; and for each token to include electronically encrypted account details thereon.
  • the account (1) is a banking account.
  • the account (1) can be operated by the account holder (2) from a remote terminal (not shown) using the World Wide Web of the Internet.
  • the account holder (2) is also provided with a plurality of smart cards (not shown) on which are electronically encrypted the account details.
  • the smart cards enable transactions to be effected at automated teller machines (ATM's) in conventional fashion.
  • ATM's automated teller machines
  • the account holder (2) can request further individual access codes for the account (1) to be issued.
  • the account holder (2) specifies the parameters to be associated with each code. These parameters include the amount of money that can be drawn using the code, the length of time for which the code is valid and the form of other transactions that may be performed using the code.
  • a further parameter is a set of emergency instructions to the institution at which the account is held. The reason for this parameter will become apparent later in this description. For example, the account holder (2) may wish to authorise a relative (3) to withdraw money from the account. However, the account holder (2) may wish to limit the amount of money that can be withdrawn over a period of time but allow repeated use of the account.
  • the account holder (2) may wish to allow maximum of R 50 to be drawn per month for a period of a year.
  • the account holder (2) specifies these details and then provides the relative (3) with a smart card and the access code. This allows the relative (3) to withdraw the specified amounts from the account (1 ) but not to perform any other transaction on the account.
  • the account holder (2) can in any event cancel the validity of the access code provided to the relative (3) at any stage.
  • a further individual access code can be requested with the parameters that the access code only be valid for one transaction and that the transaction amount not exceed a specified limit.
  • the account holder (2) would provide the merchant (4) with the account details and the access code. This would allow the merchant (4) to debit the account to a maximum of the specified limit and not permit any further debiting to the account (1 ).
  • the account (3) may thus be accessed by a large number of people but can be effectively managed by use of the individual access codes.
  • a cellular telephone may be operated off a single account and SIM card using individual access codes.
  • the account holder can have one access code which allows unlimited access to the account, a second access code which allows only local telephone numbers to be dialled over a certain period and a third access code which allows only a specific telephone number to be dialled.
  • the handset can thus be given to different users who will each have different parameters placed on the use of the telephone account dependent on the access code they are provided with. This obviates the need to provide a different SIM card to different users or to request special barring prior to giving the telephone to a specific user.
  • a yet further example is the provision of emergency instructions with an access code.
  • emergency instructions are transmitted to the bank or cellular service provider and would usually denote operation of the account under duress.
  • the authorities can thus be alerted and restrictions placed on the account, for example limiting the total that can be withdrawn or showing a false balance on the account.
  • the location of the account holder may also be determined by identifying the ATM or position of the cellular phone.
  • any number of parameters can be selected for a given access code and that the parameters will really only be limited by parameters within which the account itself operates. Also, any type of account can be operated according to the invention.

Abstract

An account includes a plurality of individual access codes permitting transactions to be conducted. Each one of the access codes has associated with it a number of access codes. Each one of the access codes is selectively variable determinable by a holder of the account.

Description

AN ACCOUNT
FIELD OF THE INVENTION
This invention relates to an account and, more particularly, but not exclusively, to an electronic account.
BACKGROUND TO THE INVENTION
Accounts are widely used to facilitate commercial or financial transactions and include banking accounts, customer accounts at retail outlets and computer network and telephone accounts. Transactions on accounts are usually enabled by the use of an access code such as a personal identification number (PIN) or an electronically encoded card, or both.
For example, in order to operate a cellular telephone account a Subscriber Identity Module (SIM) card is inserted into a mobile telecommunication handset and a PIN must be entered before the handset can be used. Once the account is active, unlimited calls can generally be made unless the handset itself has been programmed to bar certain numbers or unless the service provider has been instructed to bar numbers.
With banking accounts a card is usually issued to an account holder together with a PIN. The card is electronically encoded and can be inserted into a reader such as are available on automatic teller machines or in banking institutions themselves. Once the card has been inserted into the reader it is required of the account holder to enter the PIN. If correctly entered access to the account is enabled and transactions can be effected. A problem with the accounts described above exists in that unlimited access to an account is obtained if the correct PIN is used. Also, it is generally a tedious process to change a PIN and it is thus not advisable to provide third parties with a PIN where, for example, it is desired to allow a third-party access to the account for a period of time.
Similarly a problem with credit card accounts exists where it is desired to authorise a remote transaction. This usually occurs by providing the credit card number to the payee together with a verification code which is printed on the reverse of the card. Once in possession of these details, a payee can debit any amount to the credit card account and the account holder is usually only able to determine the actual amount debited once an invoice has been received or by specifically requesting transaction information from the card issuer
In this specification, the term "account" denotes any facility for conducting and recording commercial or financial transactions.
OBJECT OF THE INVENTION
It is an object of this invention to provide an account which will, at least partially alleviates some of the above-mentioned problems.
SUMMARY OF THE INVENTION
In accordance with this invention there is provided an account having a plurality of individual access codes to permit transactions to be conducted thereby, characterised in that each access code has associated therewith a number of parameters each of which is selectively variably determinable by an account holder.
Further features of the invention provide for the parameters to include a number of transactions permitted, a financial limit corresponding to a transaction, a frequency with which transactions can occur, a date on which a transaction can occur, a time at which a transaction can occur, a type or object of a transaction, telephone numbers which can be dialled and instructions to a third party indicating an emergency.
Still further features of the invention provide for at least one token, preferably at least one card, to be associated with the account; and for each token to include electronically encrypted account details thereon.
BRIEF DESCRIPTION OF THE DRAWINGS
The invention will be described, by way of example only, with reference to Figure 1 which is a schematic diagram of an account in use.
DETAILED DESCRIPTION OF THE DRAWINGS
An account (1 ) and account holder (2) are shown in Figure 1. In this embodiment, the account (1) is a banking account. Conveniently, the account (1) can be operated by the account holder (2) from a remote terminal (not shown) using the World Wide Web of the Internet. The account holder (2) is also provided with a plurality of smart cards (not shown) on which are electronically encrypted the account details. The smart cards enable transactions to be effected at automated teller machines (ATM's) in conventional fashion. Thus, to draw money from an ATM the account holder (2) inserts a smart card into the ATM, enters an access code and then the amount of money desired.
According to the invention, the account holder (2) can request further individual access codes for the account (1) to be issued. In requesting the codes the account holder (2) specifies the parameters to be associated with each code. These parameters include the amount of money that can be drawn using the code, the length of time for which the code is valid and the form of other transactions that may be performed using the code. A further parameter is a set of emergency instructions to the institution at which the account is held. The reason for this parameter will become apparent later in this description. For example, the account holder (2) may wish to authorise a relative (3) to withdraw money from the account. However, the account holder (2) may wish to limit the amount of money that can be withdrawn over a period of time but allow repeated use of the account. For example, the account holder (2) may wish to allow maximum of R 50 to be drawn per month for a period of a year. On requesting an access code the account holder (2) specifies these details and then provides the relative (3) with a smart card and the access code. This allows the relative (3) to withdraw the specified amounts from the account (1 ) but not to perform any other transaction on the account. The account holder (2) can in any event cancel the validity of the access code provided to the relative (3) at any stage.
If the account holder (2) wishes to purchase a product from a remote merchant (4), for instance by mail order, a further individual access code can be requested with the parameters that the access code only be valid for one transaction and that the transaction amount not exceed a specified limit. On concluding the purchase the account holder (2) would provide the merchant (4) with the account details and the access code. This would allow the merchant (4) to debit the account to a maximum of the specified limit and not permit any further debiting to the account (1 ).
It will be appreciated that the account (3) may thus be accessed by a large number of people but can be effectively managed by use of the individual access codes.
As a further example, a cellular telephone may be operated off a single account and SIM card using individual access codes. Thus, the account holder can have one access code which allows unlimited access to the account, a second access code which allows only local telephone numbers to be dialled over a certain period and a third access code which allows only a specific telephone number to be dialled. The handset can thus be given to different users who will each have different parameters placed on the use of the telephone account dependent on the access code they are provided with. This obviates the need to provide a different SIM card to different users or to request special barring prior to giving the telephone to a specific user.
A yet further example is the provision of emergency instructions with an access code. When the code is used emergency instructions are transmitted to the bank or cellular service provider and would usually denote operation of the account under duress. The authorities can thus be alerted and restrictions placed on the account, for example limiting the total that can be withdrawn or showing a false balance on the account. The location of the account holder may also be determined by identifying the ATM or position of the cellular phone.
It will be appreciated further that any number of parameters can be selected for a given access code and that the parameters will really only be limited by parameters within which the account itself operates. Also, any type of account can be operated according to the invention.

Claims

1. An account having a plurality of individual access codes to permit transactions to be conducted thereby, characterised in that each access code has associated therewith a number of parameters each of which is selectively variably determinable by an account holder.
2. An account as claimed in claim 1 in which the parameters to include a number of transactions permitted, a financial limit corresponding to a transaction, a frequency with which transactions can occur, a date on which a transaction can occur, a time at which a transaction can occur, a type or object of a transaction, telephone numbers which can be dialled and instructions to a third party indicating an emergency.
3. An account as claimed in either one of the preceding claims which has at least one token associated therewith.
4. An account as claimed in claim 3 in which the at least one token includes account details electronically encrypted thereon.
5. An account as claimed in either of claims 3 or 4 in which the at least one token is a card.
PCT/IB2001/000705 2000-05-03 2001-04-26 An account WO2001099069A2 (en)

Priority Applications (1)

Application Number Priority Date Filing Date Title
AU2001250569A AU2001250569A1 (en) 2000-05-03 2001-04-26 An account

Applications Claiming Priority (2)

Application Number Priority Date Filing Date Title
ZA2000/2141 2000-05-03
ZA200002141 2000-05-03

Publications (2)

Publication Number Publication Date
WO2001099069A2 true WO2001099069A2 (en) 2001-12-27
WO2001099069A3 WO2001099069A3 (en) 2002-05-10

Family

ID=25588730

Family Applications (1)

Application Number Title Priority Date Filing Date
PCT/IB2001/000705 WO2001099069A2 (en) 2000-05-03 2001-04-26 An account

Country Status (2)

Country Link
AU (1) AU2001250569A1 (en)
WO (1) WO2001099069A2 (en)

Cited By (3)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
WO2003083792A2 (en) * 2002-03-28 2003-10-09 Burrows, Colin, Cyril Administration of transactions with pre-payment debit and credit cards
WO2009133116A1 (en) * 2008-04-28 2009-11-05 The Royal Bank Of Scotland Transaction system and method
US20120023008A1 (en) * 2010-07-22 2012-01-26 The Western Union Company N to n money transfers

Citations (5)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
EP0306892A1 (en) * 1987-09-08 1989-03-15 Jürgen Dethloff Circuitry of which at least a part contains a card for business, identification and/or actuation purposes
US5350906A (en) * 1992-11-25 1994-09-27 Brody Bill E Currency transfer system and method using fixed limit cards
DE4435251A1 (en) * 1994-10-04 1996-04-11 Ibm Multi-level access control on data carrier cards
US5864830A (en) * 1997-02-13 1999-01-26 Armetta; David Data processing method of configuring and monitoring a satellite spending card linked to a host credit card
US5953710A (en) * 1996-10-09 1999-09-14 Fleming; Stephen S. Children's credit or debit card system

Patent Citations (5)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
EP0306892A1 (en) * 1987-09-08 1989-03-15 Jürgen Dethloff Circuitry of which at least a part contains a card for business, identification and/or actuation purposes
US5350906A (en) * 1992-11-25 1994-09-27 Brody Bill E Currency transfer system and method using fixed limit cards
DE4435251A1 (en) * 1994-10-04 1996-04-11 Ibm Multi-level access control on data carrier cards
US5953710A (en) * 1996-10-09 1999-09-14 Fleming; Stephen S. Children's credit or debit card system
US5864830A (en) * 1997-02-13 1999-01-26 Armetta; David Data processing method of configuring and monitoring a satellite spending card linked to a host credit card

Cited By (6)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
WO2003083792A2 (en) * 2002-03-28 2003-10-09 Burrows, Colin, Cyril Administration of transactions with pre-payment debit and credit cards
WO2003083792A3 (en) * 2002-03-28 2003-12-18 Burrows Colin Cyril Administration of transactions with pre-payment debit and credit cards
WO2009133116A1 (en) * 2008-04-28 2009-11-05 The Royal Bank Of Scotland Transaction system and method
US20120023008A1 (en) * 2010-07-22 2012-01-26 The Western Union Company N to n money transfers
US10354245B2 (en) 2010-07-22 2019-07-16 The Western Union Company N to N money transfers
US11023874B2 (en) 2010-07-22 2021-06-01 The Western Union Company N to N money transfers

Also Published As

Publication number Publication date
WO2001099069A3 (en) 2002-05-10
AU2001250569A1 (en) 2002-01-02

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