Credit and bank issued debit card operated system and method for controlling a prepaid card encoding/dispensing machine
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United States of America Patent
Stats
-
Jun 10, 1997
Issued Date -
N/A
app pub date -
Jun 13, 1995
filing date -
Dec 12, 1994
priority date (Note) -
In Force
status (Latency Note)
Importance
Abstract
A system and method for controlling and monitoring credit card transactions of a vending machine which dispenses and or encodes prepaid cards. Means are provided for reading magnetically stored information from a credit card, receiving an authorization amount for the transaction from a credit verification source which is external to the vending machine, storing the authorization amount, selecting a prepaid amount to be encoded on a prepaid card, determining whether a selected prepaid amount is below a maximum allowed transaction amount, controlling the encoding of a prepaid card in response to a selected prepaid amount, and storing transaction information corresponding to the operation of the prepaid card vending machine and the magnetic information from the credit card.
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