ARGENT ELECTRONIQUE ET METHODE DE STOCKAGE ET DE TRANSFERT D'ARGENT ELECTRONIQUE

DIGITAL MONEY AND STORAGE/TRANSFER MEANS THEREOF

Abrégé anglais

A method of electronic/digital cash storage and payment for goods or
services ordered or received via the internet or purchased directly from a
merchant.

Revendications

Claims: The embodiments of the invention in which exclusive property or
privilege is
claimed are defined as follows:

1. An integrated digital read/write encryption and storage software system
allowing
for the portable storage and anonymous online transfer of digital cash, and
the
use thereof, for the purchase of goods or services from a vendor to a buyer,
on, or
by, or through, the use of the internet medium.
2. A read/write software protocol that provides for the ability too
electronically
debit and credit both the vendor and the buyer in an electronic commercial
transaction.
3.A storage/software system for electronic commercial transactions that in
effect
and result mimics a current real world commercial cash transaction, thereby
achieving an electronic commercial cash sale requiring no extra or incidental
data
from either party.
4. A protocol utilizing a wholly separate, and portable, electronic cash
storage
medium, a floppy disc that can be used and inserted into any modern computer
for both reading and writing by the appropriate floppy cash software.
5. A software system capable of encrypting, transmitting and transferring
funds
electronically from one source, the buyer, to another, the vendor, using the
transaction verification software protocol of a third party, the currency
issuer.
6. An electronic currency transaction software system that does not require
any data
from the buyer, other then a floppy disc and the appropriate security PIN
number,
to verify the credit and or the ability of the buyer to complete the
transaction.
6



7. An electronic currency transaction software system that pre-limits the
potential
amount of any purchase(s) by any persons through the internet.
8. An electronic currency transaction software system that is capable of
performing
any, and all, such buyer/seller transactions, anonymously with no personal or
other data required to be supplied by the buyer to the vendor, or any other
third
party, for credit verification or for any other reasons, to complete the
transaction.

Description

CA 02288167 1999-10-25
PATENT ACT
FORM 24
Title: Digital Money and Storage/Transfer Means Thereof
Specification: This invention relates to the digital medium known as the
Internet, where
goods and/or services can be bought or obtained or used for personal
consumption.
Currently the only way to purchase such goods or sewices is through the use of
a valid
credit card account, checking account or by way of a separate 'Internet bank'
account.
The use of such payment means requires the transfer of substantial data from
the
purchaser to the vendor, in part to lessen the chance of fraudulent use of
such credit
facilities. Unfortunately, there are many goods and/or services available
through the
Internet medium that can and are purchased from all four corners of the globe.
The use of
any such credit means then results in the transfer of substantial personal
data between the
purchaser and the vendor, which presents the opportunity for fraudulent use of
such data
by both the vendor and/or by any individual or corporation able to intercept
such data
transmissions. Aside from the financial risk to the purchaser and the credit
facility issuer,
such other personal information may also be gathered and used for other
fraudulent
means.


CA 02288167 1999-10-25
These current methods of payment also allow both the vendor and the credit
card issuer
to track all such purchases, providing substantial personal information for
such vendors
to profile each such customer by numerous categories, tracking many personal
habits or
inclinations, for future use, re-sale, mailing lists, solicitations, etc.
The proposed invention relates to the design and development and deployment of
an
electronic cash payment system that allows the purchaser to in effect pay cash
for goods
and/or services obtained over the Internet, electronically and anonymously,
without the
use of a credit card, checking account or other banking means. In effect the
customer
will electronically pay cash for the purchase of the goods or services. The
proposed
invention will also allow people without a banking account, credit card, or
other financial
means to use the Internet for the purchasing of such goods and services,
either online or
through a retail source.
The proposed invention will use the currently acceptable 3.5 inch floppy disc
for storage
and transmission, until such better read/write data storage alternatives are
readily
available. The protocol for use of the floppy cash will be as follows.
1. The user of such digital cash means will have to have access to or use of
the
appropriate read/write floppy cash encryption and transfer software and the
Internet.
2. The digital cash will only be accessible through the use of the software
and the
security pin number supplied with each floppy disc.
2


CA 02288167 1999-10-25
3. The purchaser will have to log on to the Internet and select the
appropriate goods
or services for purchase.
4. The purchaser will then initiate the digital cash software for the transfer
of the
cash from the floppy disc, through the floppy cash digital network, from the
purchaser to the vendor.
5. The digital cash network will verify the encrypted 'serial number' of the
digital
cash being used for payment prior to releasing the cash to the vendor.
6. After verification, the cash is immediately electronically transferred to
the vendor
completing the sale.
7. The purchaser is then free to use the service when he or she selects and/or
to
receive the purchased goods at a place designated by the purchaser, without
the
transfer of any additional information or data.
The digital cash floppy disc will also see application in the wholesale/retail
market place
as a method of payment, providing the merchant has access to the Internet and
has the use
of the floppy cash software. The purchaser will then be able to provide the
floppy disc to
the merchant, providing the merchant is logged onto the Internet, after which
the
purchaser will enter the floppy disc pin number and okay the transfer of the
appropriate
sum to the merchant, which will be immediately verified/declined by the
digital cash
system, electronically transferring the funds to the merchant and completing
the
purchase.
3


CA 02288167 1999-10-25
The proposed invention also provides for a means of carrying large sums of
'cash',
readily usable at any Internet site or Internet connected retail site in the
world. The
digital cash system will also automatically perform currency exchanges for any
foreign
currency at the time of purchase.
The digital cash system will provide for security features that will prevent
the
unauthorized use of the digital cash. In the event that a disc becomes lost,
stolen or
corrupted the serial number of the disc can be provided to the appropriate
digital cash
department for cancellation and refund/reissue of the outstanding balance,
preventing the
fraudulent use of the 'cash'. Or alternatively, the floppy cash will be
treated as 'real'
cash and the loss thereof will be the same as the loss of 'real' currency. IE:
If it's lost it
is gone for good.
The users of such a system will be able to purchase such floppy cash amounts
as required
in pre-determined denominations at most any retail establishment (7-Eleven,
Max, etc.),
at their local bank or in any denomination on the Internet, by purchasing and
downloading the cash to an appropriate storage device. The access pin number
for each
retail disc will be attached directly to the retail discs or will be supplied
directly to the on
line purchaser.
An appropriate credit facility will load and encrypt the predetermined amount
of digital
cash onto each floppy disc and will catalog each such disc prior to public
use/sale to
prevent the duplication and/or the fraudulent use of each such disc. Further,
each such
4


CA 02288167 1999-10-25
floppy disc cash transaction will be third party verified by the credit issuer
as a legitimate
transaction, using a legitimate cash floppy disc, prior to the completion of
each and every
transaction.


CA 02288167 1999-10-25
Drawings:
1. Figure I shows the common 3.5 inch floppy disc digital storage facility.
2. Figure 2 shows common computer CPU stations with the common 3.5 inch floppy
disc read and write hardware system.
3. Figure 3 shows a schematic detail of the proposed floppy disc cash
transaction
protocol.
8