Method and system for performing purchase and other transactions using tokens with multiple chips
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United States of America Patent
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N/A
Issued Date -
Oct 21, 2004
app pub date -
May 7, 2004
filing date -
Mar 29, 2002
priority date (Note) -
Abandoned
status (Latency Note)
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Abstract
An embodiment of the present invention is directed to devices with multiple chips for facilitating small purchase transactions through a stored value account while also permitting other transactions through a network as directed by the user. According to an embodiment of the present invention, a method and system for performing at least one transaction may involve identifying a token used to perform a transaction wherein the token is read at a reader associated with a service provider, the token comprising at least two chips, a first chip associated with a first protocol accessing a local system and a second chip associated with a second protocol accessing a central controller via a network; identifying an appropriate protocol for the transaction; routing the transaction to the appropriate protocol; identifying at least one account for funding the transaction; authenticating the transaction; and funding the transaction through the at least one account.
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