Importance

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Abstract

A credit card system comprises a central unit and plurality of local units communicating with the central unit. The central unit includes a central storage device for each subscriber for storing amounts to be charged to the respective subscribers, and each of the local units includes a plurality of local storage devices assignable to the subscribers, at least one card reader for receiving a subscriber's card and for enabling the subscriber to open a local account, to transfer thereto a predetermined sum from the central unit, and thereafter to order local transactions involving the sale of products or services from the local account, until a specified permitted sum is in the local account. When the local account drops below the permitted sum, a transfer is automatically effected from the subscriber's central storage device. The system thus performs both local and central transactions while minimizing communication with the central unit, thereby enabling credit card transactions of low value, and at high-speed.

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First Claim