05692132 is referenced by 560 patents and cites 27 patents.

In a commercial transaction system, a system user uses a personal computer to interact with merchant computers over the Internet to conduct cashless transactions. Each system user computer processes data including a balance stored in the computer's memory and updates the stored data at the end of the transaction. The system is specially designed for purchases of items or transactions of relatively small monetary value. In this manner, the amount of the transaction is deducted from the balance on the computer. In accordance with the invention, when the existing balance associated with the computer does not cover the price of the transaction, the system provides a reload feature which gives the user an option to increase the balance of the computer. Such a feature allows the purchase to be made without inconveniencing the user to increase the balance by other means. Each time the balance is increased by a reload, the user's issuer bank bills the user for the reload amount.

Title
System and method for conducting cashless transactions on a computer network
Application Number
8/477438
Publication Number
5692132
Application Date
June 7, 1995
Publication Date
November 25, 1997
Inventor
Edward J Hogan
Bayside
NY, US
Agent
Brumbaugh Graves Donohue & Raymond
Assignee
MasterCard International
NY, US
IPC
G06F 17/60
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