An automated cashless transaction system may be employed in public transportsystems for providing safe and flexible travel fare payment experience to the usersof the public transport systems. The transaction system may include a card readerdevice for obtaining account information, stored in a physical card, for executinga transaction over a network. The card reader device may automatically fetch theaccount information without having any physical contact with the card. The cardreader device may be associated with a database, where the database may beoperable to dynamically determine a transaction value based on a distance from asource point to a destination point, and/or actual or expected time to reach adestination point from a source point. The database may provide the determinedtransaction value to the card reader device. The card reader device may thentransmit the account information and the transaction value to a server over thenetwork for transaction processing. The card reader device may also be associatedwith an output device. The output device may provide a ticket upon successfultransaction processing. The provided ticket may include information associatedwith one or more of the transaction, transaction value, actual or expected time,distance, source point, destination point, and account information.

Inventors Kalpna Guleria, Sachin Ahuja, Nitin Goyal, Naresh Kumar Trivedi, Amandeep Sharma, Amandeep Kaur, Meena Rani

Patent File Number - 202111022922        Patent File Date - 22-05-2021