05175416 is referenced by 387 patents and cites 6 patents.

A method of transferring funds includes the steps of linking a first "smart card" to a first financial institution, debiting an account held at the financial institution and recording a corresponding credit value in the first smart card. The first smart card is then linked to a second, similar device, the credit value in the first device is reduced, and a corresponding credit value is recorded in the second device. The second device is then linked to a second financial institution, the credit value in the second device is reduced, and a corresponding credit value is recorded in an account held at the second financial institution. The first and second devices each store at least a portion of a program which is run in a synchronized interactive manner between the first devices. The invention extends to a system for implementing the method.

Title
Funds transfer system
Application Number
7/701821
Publication Number
5175416
Application Date
May 17, 1991
Publication Date
December 29, 1992
Inventor
Serge C P Belamant
55 - 13th Street, Parkmore, Johannesburg, Transvaal
ZA
Andre P Mansvelt
171 ANderson Avenue, Northcliff, Johannesburg, Transvaal
ZA
Agent
Burns Doane Swecker & Mathis
IPC
G07F 7/10
G06F 15/30
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