Point of sale devices for converting promissory transactions into debit transactions

• US 20060131384A1
• Filed: 12/21/2004
• Published: 06/22/2006
• Est. Priority Date: 12/21/2004
• Status: Active Grant

• Current Assignee: First Data Corporation (Fiserv Incorporated)
• Original Assignee: First Data Corporation (Fiserv Incorporated)
• Inventors: Ahles, Daniel, Redmon, Lara Carsley
• Granted Patent: US 7,232,060 B2
• Time in Patent Office: Days
• US Class Current: 235/379
• CPC Class Codes: G06Q 20/042 characterized in that the payment protocol involves at least one cheque
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 20/4016 involving fraud or risk level assessment in transaction processing
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes

Abstract

Systems and methods are provided for using a point of sale device to obtain authorization from a customer to convert the customer'"'"'s promissory transaction to a direct debit transaction. In an embodiment, the point-of-sale device prints an authorization form for the customer'"'"'s signature.

Claims

1. A point of sale device for converting check transactions into direct debit transactions comprising:

a magnetic ink character recognition (MICR) reader for reading MICR characters from a check transaction;

a keypad for entering an amount of the check transaction;

an interface for transmitting the MICR characters, the amount, and a check authorization transaction request associated with the check transaction to a check acceptance service;

a display for displaying a decision from the check acceptance service to convert the check transaction to a direct debit transaction; and

a printer for printing an authorization form for obtaining a check writer'"'"'s authorization authorizing a conversion of the check transaction into the direct debit transaction.

2. The device of claim 1 further comprising a scanner for scanning the check transaction.

3. The device of claim 1 further comprising a magnetic stripe reader for reading magnetic stripe data associated with the check transaction.

4. A point of sale device for converting promissory transactions into direct debit transactions comprising:

an interface for transmitting data associated with a promissory transaction to a check acceptance service; and

a display for displaying a decision from the check acceptance service to convert the promissory transaction to a direct debit transaction.

5. The device of claim 4 further comprising a magnetic ink character recognition (MICR) reader for reading MICR characters associated with the promissory transaction.

6. The device of claim 4 further comprising a keypad for entering the data associated with the promissory transaction.

7. The device of claim 4 further comprising a printer for printing an authorization form for obtaining a check writer'"'"'s authorization to convert the promissory transaction into the direct debit transaction.

8. The device of claim 7 wherein the interface transmits verification of the check writer'"'"'s authorization to the check acceptance service.

9. The device of claim 4 further comprising a scanner for scanning the promissory transaction.

10. The device of claim 4 wherein the data associated with the promissory transaction comprises MICR characters, at least one transaction detail, and a promissory transaction request.

11. The device of claim 10 wherein the transaction details comprise at least one of a demand deposit account (DDA) number, a driver'"'"'s license number, a check amount, a check number, and a merchant number.

12. A point of sale device for converting promissory transactions into direct debit transactions comprising a printer for printing an authorization form for obtaining a check writer'"'"'s authorization authorizing a conversion of a promissory transaction into a direct debit transaction after a check acceptance service determines a level of risk associated with the promissory transaction is unacceptable.

13. The device of claim 12 further comprising a magnetic ink character recognition (MICR) reader for reading magnetic stripe data associated with the promissory transaction.

14. The device of claim 12 further comprising a keypad for entering data associated with the promissory transaction.

15. The device of claim 12 further comprising a scanner for scanning data associated with the promissory transaction.

16. The device of claim 12 further comprising an interface for transmitting verification of the check writer'"'"'s authorization to the check acceptance service.

17. The device of claim 12 wherein the check acceptance service determines the level of risk associated with the promissory transaction using data associated with the promissory transaction comprising MICR characters, at least one transaction detail, and a promissory transaction request.

18. The device of claim 17 wherein the transaction details comprise at least one of a demand deposit account (DDA) number, a driver'"'"'s license number, a check amount, a check number, and a merchant number.

19. A method of using a point of sale device to convert a promissory transaction into a direct debit transaction, the method comprising:

transmitting with a point of sale device data about a promissory transaction to a check acceptance service; and

displaying with the point of sale device a decision from the check acceptance service to convert the promissory transaction to a direct debit transaction.

20. The method of claim 19 further comprising reading with the point of sale device magnetic ink character recognition (MICR) characters associated with the promissory transaction.

21. The method of claim 19 further comprising entering with the point of sale device data associated with the promissory transaction.

22. The method of claim 19 wherein the data about the promissory transaction comprises MICR characters, at least one transaction detail, and a promissory transaction request.

23. The method of claim 22 wherein the transaction details comprise at least one of a demand deposit account (DDA) number, a driver'"'"'s license number, a check amount, a check number, and a merchant number.

24. The method of claim 19 further comprising scanning with the point of sale device the promissory transaction.

25. The method of claim 19 further comprising printing with the point of sale device an authorization form for obtaining a check writer'"'"'s authorization authorizing the conversion of the promissory transaction into the direct debit transaction.

26. The method of claim 25 further comprising transmitting with the point of sale device verification of the check writer'"'"'s authorization to the check acceptance service.

27. A point of sale device for converting a promissory transaction into a direct debit transaction comprising:

a means for obtaining at least one transaction detail associated with a promissory transaction;

a means for sending the at least one transaction detail, and a promissory transaction request associated with the promissory transaction to a check acceptance service; and

a means for receiving a decision from a check acceptance service to convert the promissory transaction into a direct debit transaction.

28. The device of claim 27 further comprising a means for generating an authorization form for obtaining a check writer'"'"'s authorization authorizing a conversion of the promissory transaction into the debit transaction

29. The device of claim 28 further comprising a means for transmitting verification of the check writer'"'"'s authorization to the check acceptance service.

30. The device of claim 27 further comprising a means for reading MICR characters associated with the promissory transaction.

31. The device of claim 27 further comprising a means for entering the data associated with the promissory transaction.

32. The device of claim 27 further comprising a means for scanning the promissory transaction.

33. The device of claim 27 wherein the transaction details comprise at least one of a demand deposit account (DDA) number, a driver'"'"'s license number, a check amount, a check number, and a merchant number.