Electronic Credit Card-ECC

Abstract

An Electronic Credit Card (ECC) including a user verifier for verifying a user's identity, a code generator for generating a unique authorization code for the user, storage of the user's account details for use in an electronic funds transfer, and a communicator for non-visual communication of the account details and the authorization code to a transaction station.

What is claimed is: 
     
         1 . A method of conducting an electronic funds transfer transaction which comprises:
 receiving an input from a user from another device;   verifying the identity of the user from the input;   generating a unique transaction identifier when the user's identity is verified; and   communicating the unique transaction identifier and the user's account details stored in the other device and electronic credit card from the other device and electronic credit card to a transaction station.   
     
     
         2 . The method of conducting an electronic funds transfer transaction of  claim 1  wherein the transaction station is an automatic teller machine (ATM) or an electronic funds transfer point of sale (EFTPOS) machine to the host computer to perform electronic funds transfer, cash withdrawal or other transaction. 
     
     
         3 . A method of conducting an electronic funds transfer transaction which comprises:
 verification of a stored financial limit available to the user via a link to a remote site system to prevent the electronic credit card from generating further transactions once the financial limit is reached, wherein the funds limiting function can optionally be activated by either a financial institution issuing the electronic credit card or by the user.