Smartcard-based value transfer

Abstract

In a value transfer scheme, users are provided with programmable devices, for example, smart cards, capable of carrying data representing at least one available commodity value. Data representing user accounts is held at a remote processing station. Transactions between users are effected by the off-line exchange of data between users' respective smartcards, the exchanged data containing a record of each transaction entered into. The user account data for each user's account held at the remote processing station is updated only subsequently when the user's smartcard is on-line to the remote processing station and data therefrom is uploaded to the remote processing station. The scheme of the invention can, conveniently, be based around the ITSO scheme which is used to govern the secure transfer of data The scheme is capable of providing a secure multi-commodity value transfer system.

What is claimed is: 
     
         1 . A system for calculating a commodity transfer by electronic communication between a first programmable hardware device and a second programmable hardware device, the system comprising:
 the first programmable hardware device associated with a first user and a first account, the first programmable hardware device generating a first data item including a first value of the commodity owned by the first user; and   the second programmable hardware device associated with a second user and a second account, the second programmable hardware device generating a second data item including a second value of said commodity owned by the second user;   wherein in the system, the second programmable hardware device:
 receives from the first programmable hardware device the first value of the commodity owned by the first use, 
 subtracts a transfer value from the received first value to create a modified first value; and 
 receives a modified second value from the first programmable hardware device that is created by the first programmable hardware device, and 
   wherein in the system, the first programmable hardware device:
 receives from the second programmable hardware device the second value of the commodity owned by the second use, 
 adds the transfer value to the received second value to create a modified second value; and 
 receives a modified first value from the second programmable hardware device that is created by the second programmable hardware device. 
   
     
     
         2 . The system of  claim 1 , further comprising a terminal in electronic communication with the first and second programmable hardware devices, wherein the terminal is adapted to support the electronic transaction, the terminal configured to:
 retrieve the first value from the first programmable hardware device and verify the first value prior to sending the first value to the second programmable hardware device; and   retrieve the second value from the second programmable hardware device and verify the second value prior to sending the second value to the first programmable hardware device.   
     
     
         3 . The system of  claim 1 , wherein the first and second programmable hardware devices are smartcards. 
     
     
         4 . The system of  claim 1 , wherein the commodity is a monetary commodity and the first and second values are monetary values. 
     
     
         5 . The system of  claim 1 , wherein the commodity is a non-monetary commodity and the first and second values are amounts of the non-monetary commodity. 
     
     
         6 . The system of  claim 1 , wherein the first programmable further performs at least one of the group consisting of:
 creating a log record that the transfer value has been added to the second value of the second user in response to receipt of the modified first value; and   uploading information comprising the log record and the modified first value to a remote processing station, wherein the remote processing station stores data representing a first account associated with the first user, wherein the remote processing station updates said first account to reflect subtraction of the transfer value from the first account.   
     
     
         7 . The system of  claim 1 , wherein the second programmable further performs at least one of the group consisting of:
 creating a log record that the transfer value has been subtracted from the first value of the first user in response to receipt of the modified second value; and   uploading information comprising the log record and the modified second value to a remote processing station, wherein the remote processing station stores data representing a second account associated with the second user, wherein the remote processing station updates said second account to reflect addition of the transfer value to the second account.   
     
     
         8 . The system of  claim 1 , wherein the first programmable hardware device also stores a third data item including a third value of a different commodity owned by the first user and the second programmable hardware device stores a fourth data item including a fourth value of said different commodity owned by the second user; and
 wherein the commodity is a monetary commodity and the first and second values are monetary values; and   wherein the different commodity is a non-monetary commodity and the third and fourth values are amounts of the non-monetary commodity.   
     
     
         9 . The system of  claim 1 , wherein the first programmable hardware device also stores a third data item including a third value of a different commodity owned by the first user and the second programmable hardware device stores a fourth data item including a fourth value of said different commodity owned by the second user; and
 wherein the commodity is a non-monetary commodity and the first and second values are amounts of the non-monetary commodity; and   wherein the different commodity is a monetary commodity and the third and fourth values are monetary values.   
     
     
         10 . A system for calculating commodity transfers between users, the system comprising:
 a plurality of programmable hardware devices, each programmable hardware device associated with a different user, wherein each programmable hardware device stores a data item including a value of a commodity owned by its user;   a remote processing station that stores account data representing user commodity accounts and update said account data in response to an information upload from at least one of the programmable hardware devices; and   a transaction terminal for interfacing with at least a first one of the plurality of programmable hardware devices with a second one of the plurality of programmable hardware devices in support of effectuating an electronic transaction, the transaction terminal configured supporting an application module for exchanging commodity values between the first and second ones of the plurality of programmable hardware devices, wherein the commodity values comprise:
 a first value of a commodity owned by a first user of the first one of the plurality of programmable hardware devices; 
 a second value of said commodity owned by a second user of the second one of the plurality of programmable hardware devices; 
 a first modified value comprising the first value minus the transfer value; and 
 a second modified value comprising the second value plus the transfer value; 
   wherein the first one of the plurality of programmable hardware devices receives the second value, performs a calculation to generate the second modified value and generates the information upload with respect to the commodity account for the first user; and   wherein the second one of the plurality of programmable hardware devices receives the first value, performs a calculation to generate the first modified value and generates the information upload with respect to the commodity account for the second user.   
     
     
         11 . The system of  claim 10 , wherein the transaction terminal is configured to:
 retrieve the first value from the first programmable hardware device, verify the first value, and then send the first value to the second programmable hardware device; and   retrieve the second value from the second programmable hardware device, verify the second value, and then send the second value to the first programmable hardware device.   
     
     
         12 . The system of  claim 10 , wherein the first and second programmable hardware devices are smartcards. 
     
     
         13 . The system of  claim 10 , wherein each programmable hardware device stores a plurality of data item, each data item including a value of a different commodity owned by the user. 
     
     
         14 . The system of  claim 10 , wherein the commodity is a non-monetary commodity and the first and second values are amounts of the non-monetary commodity. 
     
     
         15 . The system of  claim 10 , wherein the remote processing station updates said account data with respect to the commodity account for the first user in response to the information upload from at the first one of the plurality of programmable hardware devices by subtracting the transfer value. 
     
     
         16 . The system of  claim 10 , wherein the remote processing station updates said account data with respect to the commodity account for the second user in response to the information upload from at the second one of the plurality of programmable hardware devices by adding the transfer value.