04001550 is referenced by 125 patents and cites 6 patents.

A universal funds transfer and identification card for use with electronic terminals, such card including a random access memory for storing up to date account information sufficient to allow the completion of at least certain transactions without the intervention of a remote computer. The card includes a plurality of storage fields, selectively addressable for storing changeable information including account balance, total amount of transactions since last update of balance, and date of last update. The information necessary for authorizing and completing a transaction is addressed by a universal terminal for transfer to the terminal from the card. The terminal is adapted to determine the credit status of the account from the information contained on the card, perform the transaction if allowed, and update the information on the card so that the card is, itself, a record of the type and status of the account.

Title
Universal funds transfer and identification card
Application Number
5/637712
Publication Number
4001550
Application Date
December 4, 1975
Publication Date
January 4, 1977
Inventor
Vernon L Schatz
250 Sunset Ridge Road, Northfield, 60093
IL, US
Agent
Leydig Voit Osann Mayer & Holt
IPC
G11C 11/02
G06K 19/06
G06K 5/00
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