Information consolidation within a transaction network
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United States of America Patent
Stats
-
Aug 6, 1996
Grant Date -
N/A
app pub date -
Sep 30, 1994
filing date -
Sep 30, 1994
priority date (Note) -
Expired
status (Latency Note)
Importance
Abstract
A system for determining value in a stored value transaction system has a plurality of value transferring devices including a local device, a collection device, a consolidation device and a settlement device. A stored value transaction network includes a settlement device and a consolidation device coupled to the settlement device. A value transferring device applies stored value information to the consolidation device. The consolidation device transmits a consolidated portion of the received stored value information to the settlement device for performing network settlement in accordance with the consolidated portion by the network settlement device. A plurality of collection devices within the network can transmit stored value information to the consolidation device and a consolidated portion of the stored value information of the plurality of consolidation devices can be used for network settlement. A further portion of the stored value information is transferred to a storage device.
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