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E-COMMERCE
TOPIC: MONEY TRANSCATION SYSTEM
Submitted to:
Mr. Amandeep
Submitted by:
Rajiv Rajan
MCA 2nd sem
Roll no:D3804B41
Course code: INT304
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INDEX
Contents page no.
1. What is requirements determination? 2
2. Activities in requirements determination. 4
3.Basic requirements. 6
4. Introduction 18
5. About money transcation 1931
6. Advantages 327. Disadvantages 33
8 References 34
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REQUIREMENT DETERMINATION
What is requirement determination?
Requirement Determination involves studying the currentbusiness system to find out how it works and where improvements
should be made. System studies result in an evaluation of how
current methods are working and whether adjustments are
necessary or possible. These studies consider both manual and
computer methods, they are not merely computer studies.
A requirement is a feature that must be included in a new
system. It may include a way of capturing or processing data,
producing information, controlling a business activity, orsupporting management . the determination of requirements thus
entails studying the existing system and collecting details about it
to find out what these requirements are.
Since systems analysts do not work as managers or employees
in user departments, they do not have the same base of facts and
details as the managers and users in those areas. Therefore, an
early step in analysts' investigation is to understand the situation.
Certain types of requirements are so fundamental as to be common
in most all situations. There are also special kinds of requirements
that arise, depending on whether the system is transaction- or
decision-oriented and whether the system cuts across several
departments.
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Activities in Requirements determination
It is helpful to view requirements determination through the three
major activities of requirements anticipation, requirementsinvestigation, and requirements specification.
Requirements Anticipation
Requirements anticipation, can be a mixed blessing. On the
one hand, experience from previous studies can lead to
investigation of areas that would otherwise go unnoticed by an
inexperienced analyst. Having the background to know what to askor which aspects to investigate can be a substantial benefits to the
organization.
On the other hand, if a bias is introduced or shortcuts are
taken in conducting the investigation, requirements anticipation
is a problem. We will point out guidelines for structuring an
investigation around basic questions to avoid the undesirable
consequences of requirements anticipation.
Requirements Investigation
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This activity is at the heart of systems analysis. Using a variety
of tools and skills, analysts study the current system and document
its features for further analysis.
Requirements investigation relies on the fact-findingtechniques and includes methods for documenting and describing
system features.
Requirements Specifications
The data produced during the fact finding investigation areanalyzed to determine requirements specifications, the description
requirements specification the description of features for a new
system. This activity has three interrelated parts:
Analysis of factual data
The data collected during the fact finding study and
included in data flow and decision analysis documentation are
examined to determine how well the system is performing and
whether it will meet the organization 's demands. Identification of essential requirements
Features that must be included in a new system , ranging
from operational details to performance criteria, are specified.
Selection of requirements fulfillment strategies
The methods that will be used to achieve the stated
requirements are selected. These form the basis for systems
design, which follows requirements specification.
All three activities are important and must be performed
correctly. Requirements specifications places a great deal of
responsibility on the systems analyst, for the quality of the
work performed at this point will show up in the characteristics
of the new system .
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Basic Requirements
Analysts structure their investigation by seeking answers to
these four major questions:
What is the basic business process?
What data are used or produced during that process?
What are the limits imposed by time and the volume of
work?
What performance controls are used?
Understand the Process
Analysts must rise questions that, when answered, will provide a
background of fundamental details about the system and describe
it. Asking the following questions will help acquire the necessary
understanding:
What is the purpose of this business activity?
What steps are performed?
Where are they performed?
Who performs them?
How long does this make?
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How often is it done?
Who uses the resulting information?
Identify data used and information produced
Analysts next need to find out what data are used to performeach activity. Most business transaction also produce information
that is used to managers when they evaluate employee, business,
and systems performance and that may be useful in another context
to both manager and analyst.
Determine process timing and volume
The frequency of business activities varies greatly.
Many times the easiest way to get this information is to identify the
reason for the activity: what causes the activity to be performed?
Analysts sometimes refer to the direct cause as the trigger function.
Unless analysts know what triggers an activity , they may
misunderstand the reason for the activity and give it more or less
importance in the system than its merits.
Identify controls
In business situations that are well controlled either by
management or process monitoring , determining whether an
activity has been performed properly may be no problem. But
during the analysis stage, the analysts must examine control
methods : are there specific performance standards? etc.
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Introduction about moneytransaction in e commerce
Money is an money transcation
The agreement may be voluntary or coerced, conscious or
unconscious, an may fluctuate with time or remain fixed
within a community
All kinds of communities--large and small; local, national,
international, or virtual; cooperative or competitive--may create
such an agreement.
to use something as a
medium of exchange.
The money itself can be issued en masse by a central authority or
created ad hoc by two consenting parties in a mutual credit system;
it may store value or merely mark transactions; it may bebacked
or valued with something tangible or merely by the issuing
http://www.transaction.net/money/glossary.html#fiathttp://www.transaction.net/money/glossary.html#mutualcredithttp://www.transaction.net/money/glossary.html#backedhttp://www.google.co.in/imgres?imgurl=http://ubuildweb.com/library/money.jpg&imgrefurl=http://ubuildweb.com/merch_acc_order.html&h=350&w=322&sz=17&tbnid=QVNxUggZSkpzUM::&tbnh=120&tbnw=110&prev=/images%3Fq%3Dmoney%2Btransaction&hl=en&usg=__kCCspsvEAyGkEhW5S7K3auKo37g=&ei=rFDvScKnOouMtgfq9pTWDw&sa=X&oi=image_result&resnum=4&ct=imagehttp://www.google.co.in/imgres?imgurl=http://www.filebuzz.com/software_screenshot/full/mylife_pocket_money_personal_accounts_5-54168.jpg&imgrefurl=http://www.filebuzz.com/findsoftware/MONEY_TRANSACTION/1.html&h=417&w=471&sz=30&tbnid=sQB23yA7eZmffM::&tbnh=114&tbnw=129&prev=/images%3Fq%3Dmoney%2Btransaction&hl=en&usg=__1YFSGUCOGT1fynxqgY2Odd5R-u8=&ei=rFDvScKnOouMtgfq9pTWDw&sa=X&oi=image_result&resnum=3&ct=imagehttp://www.google.co.in/imgres?imgurl=http://www.dotnetheaven.com/UploadFile/rahul4_saxena/Transaction05282007014915AM/Images/Image2.jpg&imgrefurl=http://www.dotnetheaven.com/UploadFile/rahul4_saxena/Transaction05282007014915AM/Transaction.aspx&h=241&w=550&sz=21&tbnid=W7vmtJ18GWw4HM::&tbnh=58&tbnw=133&prev=/images%3Fq%3Dmoney%2Btransaction&hl=en&usg=__0ysztTAL8N2bczccPFsc82upH7I=&ei=rFDvScKnOouMtgfq9pTWDw&sa=X&oi=image_result&resnum=2&ct=imagehttp://www.google.co.in/imgres?imgurl=http://www.uci.edu/features/2008/10/images/digitalmoney_p081020_01a.jpg&imgrefurl=http://www.uci.edu/features/2008/10/feature_futureofmoney_081020.php&h=315&w=472&sz=183&tbnid=Q5WO3vXNUUVowM::&tbnh=86&tbnw=129&prev=/images%3Fq%3Dmoney%2Btransaction&hl=en&usg=__8nSNv64RbYOLR1LLMc1eMJo4dHs=&ei=rFDvScKnOouMtgfq9pTWDw&sa=X&oi=image_result&resnum=1&ct=imagehttp://www.transaction.net/money/glossary.html#fiathttp://www.transaction.net/money/glossary.html#mutualcredithttp://www.transaction.net/money/glossary.html#backedhttp://www.transaction.net/money/glossary.html#backed8/4/2019 Term Paper Rajan
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authority; and it may take any shape--coins and bills, some chalk
marks on a blackboard, or bits of data inside a compute
A transaction system comprising a card having a card balance
recorded therein, at least one terminal transaction processor
operable on the basis of on-line and off-line computer schemes,
and a center operatively associated with the terminal transaction
processor and having a file for recording thereon data
corresponding to the card balance recorded on the card. Not onlywhen the terminal processor is operating on the basis of the on-line
computer scheme, but also when the terminal processor is
operating on the basis of the off-line computer scheme, withdrawal
or deposit of money can be effected within the framework of a
maximum purchase amount. Each time such transaction has been
made, the ca
1.In a transaction system which comprises a card having a cardbalance recorded therein, said card balance being set to a
predetermined value when an on-line transaction is effected and
also being subsequently updated each time an on-line transaction is
effected, at least one terminal transaction processor operable on the
basis of on-line and off-line computer scheme, said terminal
transaction processor being adapted to be operated by an individual
having said card, and a center connected with the terminal
transaction processor through an on-line channel and having a file
for recording thereon data corresponding to the card, said center
being capable of recording on the card an ordinary deposit balance
owned by the individual having the card, one or both of said card
and said file having recorded therein a maximum purchase amount
with which the individual having the card can transact during the
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off-line transaction scheme, the improvement which comprises a
card balance updating means for updating the card balance and the
ordinary deposit balance during the on-line transaction scheme as a
result of comparison, performed prior to the intended transaction,
between the card balance and the maximum purchase amount,whereby cash can be dispensed to the individual during the off-line
transaction scheme within the framework of the maximum
purchase amount even after the operation by the individual during
the on-line transaction scheme involving no cash transaction.
2.A transaction system as claimed in claim 1, further comprising
human-manipulatable balance quoting key means for operating
said card balance updating means to perform said updating.
3.A transaction system as claimed in claim 1, further comprising
human-manipulatable purchase amount key means for operating
said card balance updating means to perform said updating.
4.A transaction system as claimed in claim 1, further comprising
human-manipulatable deposit amount key means for operating said
card balance updating means to perform said updating.
5.A transaction system as claimed in claim 1, further comprising
human-manipulatable card balance updating key means for
operating said card balance updating means to perform said
updating.
6.A transaction system as claimed in claim 1, wherein said
transaction is a withdrawal of money or a deposit of money and
wherein the card balance updated by the card balance updatingmeans can be again updated upon said transaction.
7.A transaction system as claimed in claim 1, wherein said card
balance updating means, when the maximum purchase amount is
greater than the card balance, updates the card balance by
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subtracting from the ordinary deposit balance an amount of money
necessary to equalize the card balance to the maximum purchase
amount.
8.A transaction system as claimed in claim 1, wherein said file hasa record of the exclusive balance which is equal to the card balance
during the on-line transaction scheme.
9.A transaction system as claimed in claim 1, further comprising
comparator means for comparing, prior to the intended transaction,
said card balance and said maximum purchase amount.
Description:
The present invention generally relates to a transaction system and,
more particularly, to a credit card system wherein withdrawal and
deposit of money can be made by the use of a credit card, it being
to be understood that the term "credit card" hereinbefore and
hereinafter employed is intended to include a cash card.
Two types of transaction processors are currently used, whichoperate on the basis of the "on-line" and "off-line" computer
schemes, respectively. In addition, there is also currently used a
transaction processor of a type which normally operates on the
basis of the "on-line" computer scheme, but can be switched over
to operate on the basis of the "off-line" computer scheme during
the early morning and the later evening.
The present invention pertains to the transaction system wherein a
single credit card associated with a single account can be used intransaction with any one of on-line and off-line computer facilities.
According to a conventional transaction system of similar kind, the
credit balance data stored in the credit card is updated only after a
sale involving the on-line computer scheme has been completed.
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Where the sale involving the on-line computer scheme is not
successful, the credit balance data are not updated and, therefore,
the deposited money cannot be withdrawn because of insufficient
balance against the purchase amount when the customer
subsequently attempts to withdraw the deposited money, therebyproviding an inconvenience to the customer.
Accordingly, the present invention has been developed with the
view to substantially eliminating the above mentioned
inconvenience and is intended to provide an improved transaction
system wherein a single credit card associated with a single
account can be used in transaction with any one of on-line and off-
line computer facilities.
Another object of the present invention is to provide an improved
transaction system wherein withdrawal of a purchase amount is
possible, within the framework of a maximum purchase limit, from
a transaction processor when the latter is operating on the basis of
off-line scheme.
A further object of the present invention is to provide an improved
transaction system wherein the card balance can be updated even ifdeposit or withdrawal of money does not take place during the on-
line operating scheme.
A still further object of the present invention is to provide an
improved transaction system wherein the card balance can be
updated to render it to be equal to the maximum purchase amount.
A still further object of the present invention is to provide an
improved transaction system wherein there is provided means forupdating the card balance to render the latter to be equal to the
maximum purchase amount prior to the actual transaction taking
place.
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A still further object of the present invention is to provide an
improved transaction system wherein the updating of the card
balance is carried by operating a manual input key means
associated with a balance quotation or card balance updating.
For better understanding of the present invention, the present
invention will be described in conjunction with a preferred
embodiment thereof with reference to the accompanying drawings,
in which:
FIG. 1 is a block diagram of a credit card data processing system
according to the present invention;
FIG. 2 is a schematic front elevational view of a cash dispensingmachine;
FIG. 3 is a block diagram of the cash dispensing machine;
is a block diagram showing the details of the cash dispensing
machine shown in FIG. 3;is a program chart showing process steps
performed by the cash dispensing machine during off-line
transaction; is a program chart showing process steps performed by
the cash dispensing machine during on-line transaction, FIG. 6
being divided into FIGS. 6(a) and (b);
is a program chart showing process steps performed by a center
during on-line transaction; and is a program chart showing process
steps performed by a money depositing machine during on-line
transaction,
Referring to the drawings, illustrates a block diagram of a creditcard data processing system which comprises a center 1 including
a central data processor 2 which constitutes a principal component
of the center 1. The center 1 further includes a switching apparatus
3 and an auxiliary memory device 4 which may be constituted by a
magnetic disc memory or a magnetic drum memory. Although not
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shown, a line printer and a punched tape reader are to be
understood as electrically connected to the switching apparatus 3.
The central data processor 2 is operable to control any one of
terminal devices, two of which are in through the switching
apparatus 3 by way of a telecommunication control 6 according tothe Pauling scheme, it being understood that the terminal devices 7
are located at respective branch offices of a bank separate from its
headquarter office. The telecommunication control 6 is connected
to any one of the terminal devices 7 through data transmission
lines. Any one of the terminal devices 7 includes a terminal
controller 8 and one or more transaction processors 9 such as a
cash dispensing machine or a cash depositing machine.
In the following description of the present invention, the credit
card data processing system will be described as associated with
the case wherein the transaction processor 9 is constituted by a
cash dispensing machine.
illustrates various arrangements on a front control panel of the cash
dispensing machine 9. The front control panel of the cash
dispensing machine 9 is shown to have a card inserting and
ejecting slot 10, a handling procedure display 11, a check switch12, a call switch 13 for, when actuated, calling a bank clerk, and a
pair of parallel windows 14 through which a customer can confirm
the number of bank notes of one kind and the number of bank
notes of another kind, respectively, which are dispensed. The front
control panel of the cash dispensing machine 9 further has a digital
input display 15 where any one of the customer's secret code and
the purchase amount can be displayed as inputted through a
keyboard 17, an auxiliary keyboard 16 for designating the unit ofmoney amounting to the purchase amount, a balance quotation key
18, a sale slip discharge slot 19 and a cash dispensing slot 20.
The cash dispensing machine 9 referred to above comprises, as
shown in FIG. 3, a control circuit 100, an arithmetic calculating
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circuit 101 and a memory circuit 102, all of which constitute an
ordinary micro-computer system, the details of which are best
. The machine 9 further comprises a card reader 103, a sale slip
issuing section 104, a transaction data recording section 105, and a
cash dispensing section 106. It is to be noted that other components
of the cash dispensing machine 9 shown in FIGS. 3 and 4 are
designated by like reference numerals employed to refer to like
components shown in FIGS. 1 and 2.
In FIG. 3, broken lines represent respective control lines while
solid lines represent respective data lines and it will readily be seenthat all of the components of the cash dispensing machine 9
function under the control of the control circuit 100.
In FIG. 4, the control circuit 100 is shown to include a central
processing unit CPU, a switching circuit 100a, a buffer circuit
100b, a counter 100c, an OR circuit 100d, a parallel-series
converter 100e, a second switching circuit 100f, a
telecommunication control 100g and a flip-flop 100f. On the otherhand, the arithmetic calculating circuit 101 is shown to include a
counter 101a, a comparator 101b and a subtractor 101c.
The transaction system according to the present invention will now
be described with particular reference to FIGS. 5 to 6.
FIG. 5 shows a program chart performed by the cash dispensing
machine 9 during an off-line transaction scheme. It is to be noted
that the cash dispensing machine 9 shown in FIG. 3 is of a typecapable of operating on the basis of both on-line and off-line
schemes, it being understood that the machine 9 operates on the
basis of the on-line scheme so long as a mode signal M is inputted
to the control circuit 100.
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Assuming that a customer inserts his credit card into the card
inserting and ejecting slot 10, the card reader 103 reads the data
stored in the credit card. This card data read out by the reader 103
are encoded by the arithmetic calculating circuit 101 under the
control of the control circuit 100 and then stored in the memorycircuit 102. In other words, the bank number, the account number,
the verifying code number, the date of expiration of the availability
of the credit card, the maximum purchase limit and the credit
balance stored in the card are stored at respective addresses a 11 , a
12 . . . a 15 and a 16 of the memory circuit 102 as shown in FIG. 3. It
is to be noted that, during the off-line transaction scheme, the
maximum purchase limit may not be read out.
Subsequent thereto, a card check is made to verify the acceptability
of the inserted card to the cash dispensing machine 9 and the
identification of the customer who has inserted the card into the
cash dispensing machine 9. In other words, the bank number, the
account number and the date of expiration of the availability of the
credit card are checked. In any event, since the details of this card
check are well known to those skilled in the art, they will not be
described for the sake of brevity. Thereafter, the customer's code
number inputted through the keyboard 17 and stored at the addressa 17 of the memory circuit 102 is compared with the verifying code
number stored at the address a 13 of the memory circuit 102 and, if
an error occurs, that is, when the customer's code number is
verified not to coincide with the verifying code number, this fact is
displayed through the handling procedure display 11 while the
credit card inserted is ejected and returned to the customer.
However, when and after the customer's code number has beenverified as coinciding with the verifying code number, a check is
made as to whether or not the balance quotation key 18 is
depressed. Where the balance quotation key 18 is depressed, the
card balance stored at the address a 16 of the memory circuit 102 is
displayed through the digital input display 15 and, thereafter, the
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credit card inserted is returned to the customer to complete the
transaction.
On the other hand, where the balance quotation key 18 is not
depressed, but the purchase amount is inputted by manipulating thekeyboard 17, which is the case where the customer intends to
withdraw money from his account, the purchase amount is
temporarily stored at the address a 18 of the memory circuit 102
which is subsequently compared with the card balance stored at the
address a 16 of the memory circuit 102. If the result is such that the
purchase amount is higher than the card balance, the sale is
terminated and the credit card inserted is returned to the customer.
However, if the result is such that the purchase amount is equal to
or lower than the card balance, the purchase amount is
automatically subtracted from the card balance and a new balance
is stored at the address a 16 of the memory circuit 102 and also at an
appropriate location on the credit card.
Simultaneously therewith, the transaction data are recorded in the
transaction data recording section 105 and a sale slip imprinted
with the recorded transaction data is issued through the sale slipissuing section 104 against the customer. A recording medium in
the transaction data recording section 105 is constituted by, for
example, a magnetic tape or a punched paper tape, and, therefore,
the recorded transaction data may constitute input data to be
inputted to the center 1 on the basis of a batch operation.
Alternatively, where the cash dispensing machine is of a type
capable of operating on the basis of both on-line and off-line
schemes, such as employed in the illustrated embodiment of the
present invention, the transaction data may be recorded in
magnetic memory cores or a magnetic disc memory during an off-
line transaction and may subsequently be transmitted to the center
1 during an on-line transaction.
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Subsequent to the sale slip issuance, the credit card inserted into
the cash dispensing machine 9 is returned to the customer through
the card inserting and ejecting slot 10 and, thereafter, the cash
dispensing section 106 dispenses bank notes, amounting to the
purchase amount stored at the address a 18 of the memory circuit102, towards the parallel windows 15. After the customer looking
at the parallel windows 15 has confirmed that the bank notes
dispensed towards the windows 15 amount to the purchase amount
and subsequently actuated the check switch 12, the bank notes can
be discharged towards the outside of the dispensing machine 9
through the cash dispensing slot 20 together with the sale slip
discharged through the sale slip discharge slot 19. Where the
amount of the bank notes does not coincide with the purchaseamount, what the customer should do is to press the call switch 13
to call the bank clerk. In addition, by manipulating the auxiliary
keyboard 16, the bank notes can be dispensed in different units of
money and different number of bank notes for each unit of money.
Thereafter, the sale transaction based on the off-line scheme is
terminated.
The cash dispensing machine 9 operates in the following manner,
and in the manner shown in FIG. 5, during an on-line transactionscheme, which will now be described with reference to FIG. 6.
However, it is to be noted that even during the on-line transaction
scheme, the cash dispensing machine 9 performs the process steps
in a manner similar to that during the off-line transaction scheme
up to the step of comparing the customer's code number with the
verifying code number, i.e., up to the code verification step.
Referring to FIG. 6, subsequent to the code verification step, thecheck is made as to whether or not the balance quotation key 18 is
depressed. Where the balance quotation key 18 is depressed by the
customer, a balance quotation bit, which means a predetermined
bit contained in the data being transmitted, is set to compile the
data to be transmitted. On the contrary thereto, where the balance
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quotation key 18 is not depressed, but the purchase amount is
inputted by manipulating the keyboard 17, compiling of the data to
be transmitted is started simultaneously with the input of the
purchase amount by the manipulation of the keyboard 17. What
constitute the data to be transmitted are the serial number of thecash dispensing machine being utilized, the bank number, the
account number, the maximum purchase limit, the card balance
and the balance quotation bit, which may be "1" where the balance
inquiry is made and "0" where the withdrawal of money is
intended, the purchase amount, STX and ETX.
It is to be noted that the terms "maximum purchase limit" and
"card balance" referred to above and hereinafter are to beunderstood as meaning as follows:
Maximum purchase limit: This term is intended to mean the
maximum amount of money a particular customer can withdraw
from the cash dispensing machine during the off-line transaction
scheme. This maximum amount may either be fixed for all
customers or vary from customer to customer depending upon the
balance a particular customer has in his bank account.
Alternatively, it may be fixed upon request made by a particularcustomer in consideration of the total amount deposited in his
ordinary deposit account while the remainder, i.e., the difference
between the total amount deposited and the maximum purchase
limit so fixed, is treated as an ordinary deposit balance.
Card balance: This term is intended to mean the amount of the
maximum purchase limit less the purchase amount. This card
balance is fixed to a certain value during an on-line transaction
scheme, and the purchase amount is subtracted from this card
balance each time a sale is made during the on-line transaction
scheme.
After the cash dispensing machine 9 has compiled the above
described data to be transmitted, the cash dispensing machine 9
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starts transmitting such data to the center 1 immediately after the
center 1 has been polled for such cash dispensing machine 9. It is
to be noted that, in FIGS. 5 and 6, pentagonal blocks employed
therein illustrate that the cash dispensing machine 9 is
telecommunicated with the center 1 through the terminal controller8.
The center 1, after having received and checked the data
transmitted thereto from the cash dispensing machine 9, encodes
the transmitted data so that a data file associated with the particular
account can be read from the auxiliary memory device 4 into a
principle memory in the central data processor 2. At this time,
checks are also made as to whether such account is present orabsent and whether or not such account is valid. Where an error is
indicated, an error code is prepared and transmitted back to the
cash dispensing machine 9.
The data file referred to above may include such data as the bank
number, the account number, the ordinary deposit balance,
information concerning a fixed deposit, the exclusive balance as
hereinafter defined, and CIF information. In addition thereto, the
data file may also contain the maximum purchase limit and theverifying code.
The term "exclusive balance" referred to above is intended to mean
the card balance managed on the side of the center 1. Ordinarily,
the exclusive balance must be equal to the card balance, but since
the data established during the off-line transaction scheme involve
a delay due to the batch operation and since the exclusive balance,
therefore, becomes higher than the card balance, the center 1 stores
such an exclusive balance separately of the card balance.
Comparison is then made between the maximum purchase limit
and the card balance. Where the result of such comparison shows
that the maximum purchase limit is equal to the card balance,
which shows that the previous transaction has been based on an
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on-line transaction scheme, the center 1 proceeds to the step #5.
On the contrary thereto, where the maximum purchase limit is
greater than the card balance, it may indicate that the previous
transaction has been made on either the on-line transaction scheme
or the off-line transaction scheme.
In the embodiment of the present invention, the maximum amount
of money the customer can withdraw is equal to the sum of the
ordinary deposit balance and the card balance. In addition,
although withdrawal from the card balance may be possible during
the off-line transaction scheme, arrangement is made such that
withdrawal can be made from the ordinary deposit balance and,
only when the ordinary deposit balance is consumed, a subsequentwithdrawal can be made from the card balance. This is
advantageous in that the customer can make the best use of his
bank deposit with the cash dispensing machine operating on the
basis of either off-line or on-line transaction schemes within the
framework of the deposit the customer can withdraw.
Referring still to FIG. 6, since the purchase amount is withdrawn
from the card balance during the off-line transaction scheme, it is
quite natural that the maximum purchase amount is greater than thecard balance. On the other hand, during the on-line transaction
scheme, the purchase amount is subtracted from the card balance
only when and after the ordinary deposit balance has become zero
and, therefore, there is the possibility that the maximum purchase
amount is smaller than the card balance. Naturally, that the
maximum purchase amount is smaller than the card balance is an
error.
In such case, comparison is made as to the difference between the
ordinary deposit balance and the card available amount. The card
available amount is defined as a balance between the maximum
purchase limit and the card balance and is stored at a
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predetermined address in the principle memory section of the
central data processor 2.
Where the ordinary deposit balance is equal to or greater than the
card available amount, the card available amount is subtractedfrom the ordinary deposit balance and the ordinary deposit balance
stored in the file is updated and, simultaneously therewith, the
ordinary deposit balance in the file is updated with the card
available amount added to the exclusive balance. However, this
procedure is carried out for the purpose that, where the card
available amount, which has been subtracted from the exclusive
balance upon the batch operation during the off-line transaction
scheme, the exclusive balance is updated to read an amount equalto the maximum purchase limit and, where the batch operation has
not yet been carried out, the exclusive balance can be updated
subsequently to read an amount equal to the maximum purchase
limit. In this example, since the sum of purchase amounts which
have been withdrawn within the framework of the maximum
purchase limit is subtracted from the ordinary bank deposit, the
card balance is updated to read an amount equal to the maximum
purchase limit. Thereafter, the procedure is returned back to the
step #5 shown in FIG. 6.
On the contrary thereto, where the ordinary deposit balance is
smaller than the card available amount, this means that the
ordinary deposit balance cannot deal with the sum of the purchase
amounts which have been withdrawn within the framework of the
maximum purchase limit. In this case, an amount which has been
withdrawn in excess of the ordinary deposit balance is deemed as a
credit loan, namely, Credit Loan=Card Available Amount-Ordinary Deposit Balance.
Thereafter, the ordinary deposit stored in the file is zeroed and the
exclusive balance is updated to read an amount equal to the
difference between the sum of the exclusive balance plus the card
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available amount and the credit loan. The card balance becomes
equal to the difference between the maximum purchase limit and
the credit loan. Then, the procedure proceeds to the step #5.
Subsequently, the balance quotation bit contained in thetransmitted data is checked. In the case of the balance quotation,
the data is compiled in the form as transmitted and then sent back
to the cash dispensing machine 9. However, since the card balance
is updated even in this case, the customer can make the best use of
his credit card at the time he is going to make a transaction in the
future during the off-line transaction scheme. In other words, the
possibility can be avoided that he cannot withdraw money because
of the insufficient card balance.
In the case where the balance quotation is not made, that is, in the
case where money withdrawal is made, comparison is first made
between the purchase amount and the ordinary deposit balance. If
the ordinary deposit balance is sufficient, the purchase amount is
automatically subtracted therefrom.
However, if the purchase amount is equal to or smaller than the
ordinary deposit balance, the purchase amount is subtracted fromthe ordinary deposit balance stored in the file and a new balance is
updated in the file while appropriate data are transmitted to the
cash dispensing machine 9 to dispense the purchase amount.
On the contrary thereto, if the purchase amount is greater than the
ordinary deposit balance, since the ordinary deposit balance cannot
satisfy the customer's requirement, the purchase amount is
compared with a total balance which is the sum of the ordinary
deposit balance and the card balance. It is to be noted that the cardbalance referred to above is the one which has been updated. If the
result of such comparison proves that the purchase amount is
greater than the total balance, the customer's requirement cannot be
accommodated and, therefore, withdrawal of the purchase amount
cannot be made. In this case, an insolvency bit contained in the
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data to be transmitted to the cash dispensing machine is set, said
data being then transmitted to the cash dispensing machine.
On the other hand, if the purchase amount is equal to or smaller
than the total balance, an amount which cannot be subtracted fromthe ordinary deposit balance is subtracted from the card balance.
Subtracted Balance=Purchase Amount-Ordinary Deposit Balance.
The above subtracted balance is an amount from which the
purchase amount cannot be withdrawn even if the ordinary deposit
balance is zeroed and, therefore, must be subtracted from the
updated card balance. In other words, the ordinary deposit balance
stored in the file is zeroed, and the exclusive balance and the card
balance are, after the subtracted balance has been subtracted from
each of the exclusive balance and the card balance, compiled into
the data which are then transmitted to the cash dispensing machine
The cash dispensing machine 9, after having received the above
described data and subsequently performed checking about the
contents of the data (this checking step being not shown in
encodes the received data. If the encoded data show that the
balance quotation has been made, the card balance which has beenupdated at the center 1 is displayed through the digital input
display 15 while the credit card is returned to the customer. On the
other hand, if the encoded data show that cash dispensing is
required, the insolvency bit as described above is examined and, in
the event that the purchase amount cannot be dispensed, this fact is
displayed through the handling procedure display 11 while the
credit card is returned to the customer, thereby completing the
transaction. However, if the purchase amount can be dispensed,
issuance of the sale slip, return of the credit card and dispensing of
bank notes are carried out. This is a similar procedure which takes
place during the off-line transaction scheme. In the case of the on-
line transaction scheme, no transaction data need be recorded, but
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the transaction data remain recorded since a journal is printed
simultaneously with the issuance of the sale slip.
As hereinbefore described, the present invention is such that, since
the card balance is updated when a balance quotation is madeduring an on-line transaction scheme or when no purchase amount
can be withdrawn, there is no possibility that, when the customer
intends to subsequently withdraw a purchase amount during an off-
line transaction scheme, the purchase amount cannot be dispensed
because of the insufficient card balance.
While the present invention has fully been described in connection
with the transaction system utilizing the cash dispensing machine,
the transaction can utilize the cash depositing machine which will
now be described with reference to FIG. 8. It is to be noted that the
process steps performed by the cash depositing machine are shown
not only in FIG. 8, which is divided into FIGS. 8(a) to (c) for the
purpose of drawing drafting, but also in FIG. 7.
While most process steps are substantially identical with that
shown in FIG. 6, four keys, which are respectively indicative of
cash dispensing, cash depositing, balance quotation and balanceupdating, are necessary to render the cash depositing machine to
operate in accordance with the program shown in FIG. 8.
Because of the similarlity between the program shown in FIGS.
6(a) and (b) and that in FIGS. 8(a) and (b), only the program
shown in FIG. 8(c) will now be described.
Assuming that a certain amount of money (hereinafter referred to
as deposit amount) is deposited into the cash depositing machine(not shown) with the cash deposit key depressed, the maximum
purchase amount is compared with the card balance. If the former
is equal to the latter, the ordinary deposit balance is recorded to
read the sum of the ordinary balance and the deposit amount, the
newly recorded ordinary deposit balance being compiled into the
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data to be transmitted. On the other hand if the former is smaller
than the latter, the deposit amount is compared with the difference
between the maximum purchase amount and the card balance.
If the deposit amount is equal to or greater than the differencebetween the maximum purchase amount and the card balance, the
ordinary deposit balance becomes the sum of the previous ordinary
deposit balance and the difference between the deposit amount and
the difference between the maximum purchase amount and the
card balance. Therefore, the exclusive balance becomes the sum of
the previous exclusive balance and the card available amount and
subsequently the card balance is rewritten to read the maximum
purchase amount, which is in turn compiled into the data to betransmitted. On the other hand, if the former is smaller than the
above described difference, the exclusive balance becomes the sum
of the previous exclusive balance and the deposit amount and the
card balance is rewritten to read the sum of the card balance and
the deposit amount, which is in turn compiled into the data to be
transmitted.
In this way, where the cash depositing machine is employed for the
transaction processor, it is necessary that the card balance and theordinary deposit balance is again updated depending upon the
amount of money deposited, that is, the deposit amount.
While the present invention has fully been described, it is to be
noted that various changes and modifications are apparent to those
skilled in the art. Such changes and modifications are to be
understood as included within the true scope of the present
invention unless they depart therefrom.
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American Express: The world's favoritecard. With more than 57 million cards in
circulation and growing! Around US $123
billion was spent last year through AmericanExpress Cards and it is poised to be theworld's No. 1 card in the near future. In a
regressive US economy last year, the totalamount spent on American Express cards
rose by 4 percent. American Express cardsare especially popular in the U.S., Canada,Europe and Asia and are used widely in the
retail and everyday spend categories.Citibank E-Cards: Citibank has launched a
new initiative Citibank eCard to promote safeand secure E-shopping. Like a regular CreditCard but without a physical plastic, it is India
's first web Credit Card. The Citibank eCardcan be used for all types of Internet
shopping and transactions through telephone
and mail order. You can also do alltransactions available on Internet Banking,
including utility bills and ordering a demanddraft.
Diners Club International: The world's No.1 Charge Card. Diners Club cardholders
reside all over the world and the Diners Card
is an old corporate favorite. There are morethan 8 million Diners Club cardholders.Diners Club cardholders are generallyaffluent, and are frequent travelers in
premier businesses and institutions,including Fortune 500 companies and leading
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global corporations.
JCB Cards: The JCB Card has a merchantnetwork of 10.93 million spanning 189
countries. It is supported by more than 320financial institutions worldwide and serves
more than 48 million cardholders in 18countries. The JCB philosophy of "identify the
customer's needs and please the customerwith Service from the Heart" is paying richdividends as their customers spend US$43
billion annually on their JCB cards.VISA: The world's most preferred card.There are more than one billion cards in
circulation, with unsurpassed acceptance inmore than 150 countries. Visa-branded cardsalone generate US$2.4 trillion in annual cardsales volume. Nearly half of this in US alone.
MasterCard: MasterCard International is aglobal payments company with one of themost recognized and respected brands in theworld. With 32 million acceptance locations,
no payment card is more widely acceptedglobally than MasterCard. Last year,
MasterCard handled transactions worthUS$285 billion. Important notice about
MasterCard Sign up
1. An electronic money transaction system comprising:
an electronic money storing medium which stores electronic
money information;
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a contact reading and writing means which electrically contacts the
electronic money storing medium to write to and read from the
electronic money storing medium;
a processing unit which is connected to the contact reading and
writing means and at least partially controls the electronic money
storing medium; and,
a non-contact communicating means which is connected to the
processing unit, and which is able to communicate with a non-
contact external electronic money storing medium through space
without contact being necessary,
wherein the processing unit controls, by using the non-contact
communicating means and via space, the electronic money storing
medium and the non-contact electronic money storing medium,
such that at least a portion of electronic money stored in at least
one of the electronic money storing medium and the non-contact
electronic money storing medium is transferred to the other of the
electronic money storing medium and the non-contact electronicmoney storing medium. The system according to claim 1, wherein
the electronic money storing medium is an IC card.. The system
according to claim 1, wherein the non-contact electronic mostoring
medium is at least one of an IC card and a wireless telephone.
4. The system according to claim 1, comprising a second contact
reading and writing means which electrically contacts a second
electronic money storing medium to write to and read from the
second electronic money storing medium. The system according toclaim 1, wherein the electronic money storing medium stores ID
information unique to the non-contact electronic money storing
medium.
5 An electronic money transaction system comprising:
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an electronic money storing medium which stores electronic
money information;
a contact reading and writing means which electrically contacts theelectronic money storing medium to write to and read from the
electronic money storing medium;
a processing unit which is connected to the contact reading and
writing means and at least partially controls the electronic money
storing medium; and,
a wireless communicating means which is connected to the
processing unit and which communicates with outside entities by
wireless communication,wherein the processing unit controls, byusing the wireless communicating means and via electromagnetic
waves, the electronic money storing medium and a wireless
electronic money storing medium such that at least a portion of
electronic money stored in at least one of the electronic money
storing medium and the wireless electronic money storing medium
is transferred to the other of the electronic money storing medium
and the wireless electronic money storing medium.
6 The system according to claim 6, wherein the electronic money
storing medium is an IC card.
7 The system according to claim 6, wherein the wireless electronic
money storing medium is at least one of an IC card and a wireless
telephone.
9. The system according to claim 6, comprising a second contact
reading and writing means which electrically contacts a secondelectronic money storing medium to write to and read from the
second electronic money storing medium.
10. The system according to claim 6, wherein the electronic money
storing medium stores ID information unique to the wireless
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electronic money storing medium.
11. The system according to claim 6, wherein the electronic money
storing medium stores ID information unique to an external
wireless telephone terminal.
12. A wireless telephone terminal comprising:
an electronic money storing medium which stores electronic
money information;
a contact reading and writing means which electrically contacts the
electronic money storing medium to write to and read from theelectronic money storing medium;
a processing unit which is connected to the contact reading and
writing means and at least partially controls the electronic money
storing medium; and,
a wireless communicating means which is connected to the
processing unit and which communicates with outside entities bywireless communication,
wherein the processing unit controls, by using the wireless
communicating means and via electromagnetic waves, the
electronic money storing medium and a wireless electronic money
storing medium at least a portion of electronic money stored in at
least one of the electronic money storing medium and the wireless
electronic money storing medium is transferred to the other of the
electronic money storing medium and the wireless electronicmoney storing medium.
13. The terminal according to claim 12, wherein the electronic
money storing medium is an IC card.
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14. The system according to claim 12, wherein the wireless
electronic money storing medium is at least one of an IC card and
a wireless telephone.
15. The system according to claim 12, comprising a second contactreading and writing means which electrically contacts a second
electronic money storing medium to write to and read from the
second electronic money storing medium.
16. The terminal according to claim 12, wherein the electronic
money storing medium stores ID information unique to the
terminal or the wireless electronic money storing medium.
An ATM card is linked directly to your checking or savingsaccount. It can only be used at an ATM machine or at astore or other business that displays the various symbols onthe back of your ATM card such as STAR network. Whenyou use it, the money is immediately taken from youraccount. A debit card works similarly, but carries a Visa or
MasterCard logo and can be used anyplace that acceptsthose credit cards. However, debit cards are NOT creditcards. They are issued by your bank, and when used, themoney is removed from your bank account immediately. Acredit card is like a short term, incredibly high interest(usually 18 to 21%) loan. It has a pre-set spending limit(generally from $500 to $5000) and you cannot spend morethan your spending limit. It is not attached to your bank
account. When you use them, you incur a debt that must berepaid. Most people end up making monthly payments ontheir credit cards for years and years, and the interestaccrues every single month, so even if you pay say, $150 onyour debt, you may have accrued $90 worth of interest, so
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you only paid off $60 worth of your balance. They're a losingproposition.
ATM and debit cards are a way to pay for something with
money you have in your bank account. Credit cards are away to pay for something with a financial institution's money.You then pay the credit card company. If you don't pay offthe whole amount, then you also have to pay interest.Probably the more important difference is that there arecertain rights that are attached to each payment type. Forexample, you will have greater protections against amerchant who sells you a bad product (of service) if you payby credit card.
ATM card can only be used to your bank account to transactwhen you physically visit an ATM. You can use a debit card,to make payments for purchase of purchase products andservices at the point of purchase. When you do thisk, thedebit card again checks your bank account and if it hasenough funds, allows the transaction to go through,depleting your account by the same amount. A credit card
does not link to any of your bank accounts. You will have acredit limit and you can make purchases till the time youreach this limit. Once you have reached the imit, or onceevery month, you have to restore the limit by makingpayment to the credit card company for the amount due.
Online Legal Marketing Knowledge Base transcation
How to market a new online legal website? We've
recently launched our new website, http://www.first4lawyers.com
and i need ideas on how to promote it online. Would appreciate
your advice on any websites, blogs, forums, etc to read. Alwould
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be appreciated. Can U.S. residents sign up for affiliate
marketing for online casinos? Is it legal?Is offline marketing,
ads and flyers with promotions for online gambling websites
legal in the united states? it is for partypoker.com a casino . i do
affiliate, atleast im starting to. where are these "dream casinos"Lucid, a legal absinthe liquor, is to hit the market in June.
Anybody know an online retailer?Absinthe has been banned in
the USAfor a century, despite the original accusations that
itwashallucinatory and caused insanity having been debunkLucid,
from Viridian Spirits, is to be the first legal version, and hit the
market in June 2007. I would like to buy some either in New
Orleans or Houston, or buy it online if possible Anybody know
where? For those of you who are under the misconception that Iam seeking it for hallucinatory reasons...if that was the case, the
suspected chemical is available in other products at much higher
concentrations. I want it for one very simple reason...to recreate
some very old recipes, and since nothing supposedly tastes
identical to the original, then the original is necessary...at least
once. check out absinthe in wikipedia, it was NOT an opium issue
with this liquor, but rather the use of the wormwood. To make it
legal, the levels of thujone had to be much lower than the original,but thujone is also present in many other legal for human
consumption substances at levels higher than even the historical
absinthe contained....as long as it is NOT derived from the
artemisia family.
why is online illegal, but playing the stock market is legal? isn't
playing stocks gambling too? yea your answer not being related to
the question shows your ignorance. online poker isn't all about
random chance. there are more skilled players than others. this is
for online only, not the physicality aspect of gambling. this isn'tabout outlawing the stock market. of course gambling is still legal
outside of online. if you were to put money into something hoping
to get a positive return, that is taking a risk and gambling,
regardless if there is anything of value you get with your initial
investment. you can't just stereotype,and say the total sum return
http://www.mlmd.com/knowledgebase/view/2398/canusresidentssignupforaffiliatemarketingforonlinecasinosisitlegal.htmlhttp://www.mlmd.com/knowledgebase/view/2398/canusresidentssignupforaffiliatemarketingforonlinecasinosisitlegal.htmlhttp://www.mlmd.com/knowledgebase/view/1557/isofflinemarketingadsandflyerswithpromotionsforonlinegamblingwebsiteslegalintheunitedstates.htmlhttp://www.mlmd.com/knowledgebase/view/1557/isofflinemarketingadsandflyerswithpromotionsforonlinegamblingwebsiteslegalintheunitedstates.htmlhttp://www.mlmd.com/knowledgebase/view/1557/isofflinemarketingadsandflyerswithpromotionsforonlinegamblingwebsiteslegalintheunitedstates.htmlhttp://www.mlmd.com/knowledgebase/view/1558/lucidalegalabsintheliquoristohitthemarketinjuneanybodyknowanonlineretailer.htmlhttp://www.mlmd.com/knowledgebase/view/1558/lucidalegalabsintheliquoristohitthemarketinjuneanybodyknowanonlineretailer.htmlhttp://www.mlmd.com/knowledgebase/view/1559/whyisonlinegamblingillegalbutplayingthestockmarketislegal.htmlhttp://www.mlmd.com/knowledgebase/view/2398/canusresidentssignupforaffiliatemarketingforonlinecasinosisitlegal.htmlhttp://www.mlmd.com/knowledgebase/view/2398/canusresidentssignupforaffiliatemarketingforonlinecasinosisitlegal.htmlhttp://www.mlmd.com/knowledgebase/view/2398/canusresidentssignupforaffiliatemarketingforonlinecasinosisitlegal.htmlhttp://www.mlmd.com/knowledgebase/view/1557/isofflinemarketingadsandflyerswithpromotionsforonlinegamblingwebsiteslegalintheunitedstates.htmlhttp://www.mlmd.com/knowledgebase/view/1557/isofflinemarketingadsandflyerswithpromotionsforonlinegamblingwebsiteslegalintheunitedstates.htmlhttp://www.mlmd.com/knowledgebase/view/1557/isofflinemarketingadsandflyerswithpromotionsforonlinegamblingwebsiteslegalintheunitedstates.htmlhttp://www.mlmd.com/knowledgebase/view/1557/isofflinemarketingadsandflyerswithpromotionsforonlinegamblingwebsiteslegalintheunitedstates.htmlhttp://www.mlmd.com/knowledgebase/view/1558/lucidalegalabsintheliquoristohitthemarketinjuneanybodyknowanonlineretailer.htmlhttp://www.mlmd.com/knowledgebase/view/1558/lucidalegalabsintheliquoristohitthemarketinjuneanybodyknowanonlineretailer.htmlhttp://www.mlmd.com/knowledgebase/view/1559/whyisonlinegamblingillegalbutplayingthestockmarketislegal.html8/4/2019 Term Paper Rajan
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will never exceed the initial sum for all gamblers. And not all
online gambling games are a game of chance, despite what the law
reads.
Researching people doing untrue or questionable marketing of
video games online!? Recently I was victimized by a marketer ofonline video games in the Boston area.
Advantages of money transaction:
1. with the help of transaction system In e-commerce we can deposit as well as withdrawl the
money online.
2. transaction system provide the quiock response
through online transaction to the user.
3. transaction system of money also usefull for timesaving or money saving.
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REFERENCES
1. E-COMMERCE Kamlesh k bajaj
2. Wikipedia