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The Microbilt Corporation patent solves the following problem:
American consumers have long been able to pay for many goods and services to non-cash forms of payment such as checks, credit cards, and debit cards. In recent years, consumers have more trust these non-cash forms of payment to pay for their purchases. For example, the American consumers used credit cards to spend more than $ 250 billion during 1991. During the same period, merchants accept checks totaling many other billions.
Our analysis of this patent is as follows:
Microbilt Corporation’s patent US 5448047 A deals with Card validation method using multiple cord data regions.
One way to obtain and provide card-identifying information from a data card presented in connection with a financial transaction, the data card with a magnetic stripe and a embossed regions containing recognition information, the procedure carried out on a data card terminal. The data card terminal is working to gather credit card or check information needed for customer transactions in a point of sale. method comprises providing a transaction risk parameter selectively indicative of a first or second level of transaction security given for the data card terminal. In response to standard transaction risk showing first-security, card proved recognition information is provided if either the first data recorded in the region or the second data in the region include valid card trouble identifying information. In response to standard transaction risk that shows a second level of security, a second check levels of security held. During the second check security level of the first data recorded in the region compared to the second data recording region to determine if the data in the two regions match. If the first and second regions of the data match, proved card identifying information provided. The regional data could include magnetic stripe data or embossed character data card.
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