METHOD FOR CASHLESS TRANSACTION FOR AVAILING HOSPITALIZATION BENEFITS

摘要

The present invention provides a method for cashless transaction for availing hospitalization benefits comprising: entering access card information into a point of service transaction terminal for initializing cashless transaction; entering and storing hospitalization data on die storage medium of the terminal; transmitting the hospitalization data and the access card data to an adjudicating element provided by a third party administrator or Insurer; computing the hospitalization data and the access card data for determining eligibility and authorizing a value of amount for availing the hospitalization benefits; electronically storing die value of amount to the access card for spending at the terminal; inserting the access card into the point of service transaction terminal after availing the hospitalization benefits for enabling the card reader to read the stored nature of amount, deduct die portion of value of amount spent on providing hospitalization benefits and electronically storing the unspent value of amount; and electronically re-transmitting the unspent value to the third party administrator or Insurer in a predetermined time.