Contactless/Wireless ATM transactions

PCT Application Number                     : Will update soon
Indian Patent Application Number  : 201841014749
US Patent Application Number         : Will update soon


Contactless transaction initiation is often performed with a “smart” card. Such a card typically includes radio-frequency identification (“RFID”) components for contactless communication with a point-of-sale device, and a magnetic stripe that permits the card also to be used in a conventional magnetic stripe card reader. The information communicated via the RFID components is generally similar or identical to the information recorded on the magnetic stripe. Payment systems that use contactless cards are generally restricted to providing a mechanism for a payment channel. In some systems, payment requests are routed through a conventional debit or credit authorization network, while in other systems, payment requests are processed offline by the card, which includes a “stored value” account balance. These offline cards are sometimes referred to in the art as “electronic wallets,” “e-wallets,” “electronic purses,” or “e-purses”.

Other types of stored-value cards, also referred to or otherwise sold as gift cards, are typically associated with a centralized and remote stored-value account. Such cards may be contactless, and in some instances, may be relatively simple plastic cards with magnetic stripes. In any instance, the remote account is charged when the card is used through an exchange of information over a network, and can often be replenished by the cardholder or a third party. When the card is used, an account number comprised by the card permits access to the account. These cards also typically provided only a single payment channel, with all payment requests being directed to the remote account that stores the account balance.

Transaction cards and merchant POIs have evolved over the years to now include what are sometimes referred to as “contactless” transaction cards. These contactless transaction cards may include a transaction card having contactless technology, a key fob programmed with contactless technology, or a mobile phone programmed with contactless technology. Such contactless transaction cards are able to communicate with a merchant's contactless point-of sale device. For example, MasterCard® has a service called MasterCard PayPass®, which is a “contactless” way to pay a merchant. A simple tap of your contactless card, key fob, or mobile phone at the merchant's contactless point-of sale device (or placing the contactless card in close proximity to the POS device) is all it takes to pay at checkout. The contactless card is capable of wirelessly transmitting account data to the point-of-sale device.

It is observed that, currently most of the bank cards are integrated with RFID chips inside so as to enable that card to perform wireless transactions (NFC technology) at merchant sites (at POS). However, customers need to take the card out manually form wherever it is kept, for example in wallet or pocket, and need to place/tap the card near NFC device to enable/active the transactions. Further, such NFC technology is also not well developed at ATM’s to do cash withdrawals and other bank transactions through ATM.

The present invention relates generally to transaction cards, and more particularly to contactless transaction system and method thereof using contactless transaction card at ATM and/or POS (Point of Sale). The present invention provides a user-friendly interface to perform financial transaction at
ATM centres without inserting or tapping the card. The objective of the present invention is to perform financial transactions at ATM’s without inserting or tapping the bank card using Mid-Range Communication (MFC) technology.


In conventional ATM’s are provided with a system and method to search for the bank cards (whether they are in customers pocket or wallet) using Mid-Range communication (MFC) technology. Once the ATM detects one or more cards in user`s pocket or wallet using MFC technology, the respective bank names issued such cards appears on the ATM screen (display).

 In this present innovation, an exemplary embodiment, both cards and ATM machines are provided with MFC communication modules to communicate with each other. Due to this, the ATM machine will detect the cards having MFC module, whenever in pre-defined range and display the card information with respective bank name on the ATM screen. Upon display of various cards using MFC technology, the user select the respective bank card/name on the ATM screen, for which transaction is sought to made and enter the associated PIN or authenticate with biometrics. Once authenticated then the user can choose the appropriate financial transaction option and can follow the normal procedure. Once the transaction is completed, the ATM may be configured to again display all the banks names which are detected earlier. Now user can choose card details of other banks on the ATM screen (display) to do another transaction or user can choose exit option from the ATM.

User can exit from the ATM and when travelled beyond the pre-defined MFC range, the ATM will automatically close all access to previous detected cards and display the predefined home screen. Bank cards may also be provided with a small on or off switch which the users can switch to enable wireless detection of the cards to prevent unnecessary use of card.

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Note: All the above images are only for illustration purpose.

Disclaimer: Chances are there that some one may have patents on the similar innovative ideas but all these concepts are my own individual thoughts.

Thanks,
SPCS

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