Importance

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Abstract

A stored value transaction system has a plurality of value storing transfer devices, including at least one local device, collection device, consolidation device and settlement device. First and second transfer devices are provided for performing a value information transfer transaction between each other. First and second cryptographic verifiers within the first and second transfer devices, respectively, provide individual first and second secure transaction determinations and permit the value information transfer transaction in accordance with the first and second individual secure transaction determinations. The first and second cryptographic verifiers include respective first and second pluralities of encryption keys. The first and second pluralities of encryption keys have at least one common encryption key whereby both the first secure transaction determination and the second secure transaction determination are made in accordance with the common encryption key. The common encryption key may be a network authority key.

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First Claim