Instant settlement system and method for credit card member stores

• US 20030061156A1
• Filed: 10/22/2002
• Published: 03/27/2003
• Est. Priority Date: 12/21/1999
• Status: Abandoned Application

• Current Assignee: Baroh Com Company Limited
• Original Assignee: Baroh Com Company Limited
• Inventors: Lim, Sang-Jin
• Application Number:
  US10/168,779
• Publication Number:
  US 20030061156A1
• Time in Patent Office: Days
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 20/12 specially adapted for electronic shopping systems
• CPC Class Codes: G06Q 20/24 Credit schemes, i.e. "pay after"
• CPC Class Codes: G06Q 20/4037 Remote solvency checks
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G07F 7/08 by coded identity card or credit card or other personal identification means without personal verification means G07F7/02

Abstract

There is provided an instant settlement system for credit card member stores, which has a server including a branch-dedicated server connected to a branch, a VAN-dedicated server connected to a VAN (5), a withdrawal information server, a bank-dedicated server connected to a bank, a card-dedicated server connected to a credit card company (3), an account settlement server, and an inquiry processing server for managing a history database, member database and banking database, the server (4) being connected to a plurality of credit card member store terminals (21-25) to manage information about transaction made at credit card member stores, the server (6) being also connected to the bank, in case there is a transaction accomplished at a credit card member store, to control withdrawals to allow the credit card member store to be instantly paid for the transaction, the server being connected to the credit card company (3) through the VAN (5) to confirm if credit cards used for transactions are authorized and to process withdrawal for instant settlement.

Claims

1. An instant settlement system for credit card member stores, which has a server including a branch-dedicated server connected to a branch, a VAN-dedicated server connected to a VAN, a withdrawal information server, a bank-dedicated server connected to a bank, a card-dedicated server connected to a credit card company, an account settlement server, and an inquiry processing server for managing a history database, member database and banking database, the server being connected to a plurality of credit card member store terminals to manage information about transactions made at credit card member stores, the server being also connected to the bank, in case there is a transaction accomplished at a credit card member store, to control withdrawals to allow the credit card member store to be instantly paid for the transaction, the server being connected to the credit card company through the VAN to confirm if credit cards used for transactions are authorized and to process withdrawal for instant settlement.

2. The instant settlement system for credit card member stores as claimed in claim 1, wherein the branch-dedicated server, for the credit card member store subscribed through the branch, processes the member store owner'"'"'s personal information, information about the store, information related with a credit card reader used at the store, information related with the credit card company issuing credit cards to be used at the credit card member store, and information related with instant settlement service contract, these information being managed by the branch and head office.

3. The instant settlement system for credit card member stores as claimed in claim 1, wherein the VAN-dedicated server takes charge of processing information about approval/withdrawal of credit cards carried out between the credit card company and credit card member stores via the VAN, registration information and changed information about the credit card member store raised using a precondition of using the instant settlement system, registration information and changed information about the credit card company, credit card reader registration information and changed information, approval/withdrawal information required for operating the instant settlement system, information on redundant approval, information about return of card authorization information, and information on withdrawal from the card company according to the instant settlement.

4. The instant settlement system for credit card member stores as claimed in claim 1, wherein the withdrawal information server takes charge of searching a instant settlement service credit limit, the number of times of the instant settlement service and bad transaction contents, searching and processing a balance for approval of cancellation and searching and processing a balance, verifying and processing validation of card percentage rates varied by the credit card company, tracing and processing bad transactions such as self-sales and false sales, and generation of withdrawal information for the instant settlement service.

5. The instant settlement system for credit card member stores as claimed in claim 1, wherein the bank-dedicated server requests for withdrawal from the bank for a withdrawal request message that is the result processed by the withdrawal information server, verifies reception of the withdrawal request by the bank and accuracy thereof, receives and verifies the result processed by the bank for the withdrawal request, processes errors on the withdrawal request message, receives and verifies deposit details of the credit card, processes withdrawal of instant settlement accounts, verifies the withdrawal result, and verifies files of account settlement between the bank and credit card company.

6. The instant settlement system for credit card member stores as claimed in claim 1, wherein the card-dedicated server is in charge of cross-checking and verification of card company deposit information accepted from the VAN, and collection and verification of information about deposit information of a card company that is not affiliated with the VAN.

7. The instant settlement system for credit card member stores as claimed in claim 1, wherein the account settlement server compares the deposit details of the card company accepted from the VAN-dedicated server, withdrawal information previously processed by the withdrawal information server and bank deposit details accepted from the bank-dedicated server with one another, to take charge of settlement of deposit/withdrawal accounts, settlement of accounts for over-withdrawal and not-yet-withdrawal for instant settlement for the member stores, settlement of accounts for withdrawal contents for member store credit limits and personal credit limits, and settlement of various percentage rates related with operations of the VAN and bank.

8. The instant settlement system for credit card member stores as claimed in claim 1, wherein the inquiry processing server includes a member database for managing information related with member store subscribers, a history database for managing histories such as authorization, cancellation, withdrawal, payment, balance, etc. and a banking database for managing a database related with the operation of bank such as withdrawal and deposit.

9. An instant settlement method for credit card member stores, comprising:

a step in which, when a cardholder having a credit card issued by a credit card company shows his credit card as a means for paying charges for goods or services to a credit card member store that provides the goods or services, the credit card member store requests the credit card company to authorize the credit card via a server and VAN using a credit card reader;

a step in which, when the card company authorizes the credit card, the member store provides the cardholder with the goods or services and issues a sales check corresponding thereto;

a step in which the server instantly settles accounts for the credit card member store on the basis of the authorization information; and

a step in which the server withdraws the instantly settled account from the credit card company through a predetermined validation procedure.

10. An instant settlement method for credit card member stores, comprising:

a step in which, when a cardholder having a credit card issued by a credit card company shows his credit card as a means for paying charges for goods or services to a credit card member store that provides the goods or services, the credit card member store requests the credit card company to authorize the credit card via a server and VAN using a credit card reader;

a step in which, when the card company authorizes the credit card, the member store provides the cardholder with the goods or services and issues a sales check corresponding thereto;

a step in which, when the card company authorizes the credit card, the VAN informs the server of the authorization;

a step in which the server instantly settles accounts for the credit card member store on the basis of the authorization information; and

a step in which the server withdraws the instantly settled account from the credit card company through a predetermined validation procedure.