System for real-time sales and inventory reconciliation

• US 20060253338A1
• Filed: 01/26/2006
• Published: 11/09/2006
• Est. Priority Date: 03/17/2003
• Status: Active Grant

• Current Assignee: E-Gatematrix LLC
• Original Assignee: E-Gatematrix LLC
• Inventors: Metzger, Tracy Alan
• Granted Patent: US 8,364,547 B2
• Time in Patent Office: Days
• US Class Current: 705/26
• CPC Class Codes: G06Q 10/087 Inventory or stock management, e.g. order filling, procurement or balancing against orders
• CPC Class Codes: G06Q 30/0603 Catalogue ordering
• CPC Class Codes: G06Q 30/0635 Processing of requisition or of purchase orders
• CPC Class Codes: G06Q 30/0641 Shopping interfaces

Abstract

A system is presented that facilitates transactions for products to be completed and product inventory tracking to be performed in real-time even if the products are brought to the location of a customer prior to the transaction. The system completes transactions by accepting and settling cash, credit card, debit card and other forms of payment in real-time. In general, the system includes three basic components: an application module, a back office portal and a portable device. These components may be placed in communication with each other in various configurations to perform various functions that enable product tracking and transaction completion.

Claims

1. A system for processing a transaction between a merchant in possession of products and a customer for one of the products, the system comprising:

a portable device configured to collect transaction information from the customer, selectively communicate the transaction information to a back office subsystem that processes the transaction, and receive the processed transaction information in real-time;

an application module configured for selective communication with the portable device module.

2. The system of claim 1, wherein the portable device includes an input module configured to collect the transaction information from the customer.

3. The system of claim 1, wherein the input device includes a magnetic card reader, barcode scanner, keyboard, and/or touchpad.

4. The system of claim 1, wherein the transaction information includes transaction acceptance information;

and the portable device is further configured to communicate the transaction acceptance information to the back office subsystem for processing in real-time.

5. The system of claim 4, wherein the portable device is further configured to receive a result of the transaction acceptance information processing from the back office in real-time.

6. The system of claim 1, wherein the portable device is further configured for selective communication with the application module.

7. The system of claim 6, wherein the application module is further configured to communicate initial product information to the portable device.

8. The system of claim 6, wherein the transaction information includes product information and the portable device is further configured to communicate product information to and receive updated product information from the product management subsystem in real-time.

9. The system of claim 8, wherein the product information includes a number of the products transacted for and the product management subsystem tracks a number of the products remaining in the merchant'"'"'s possession according to the product information.

10. A method for processing a transaction between a merchant in possession of products and a customer for one of the products, the system comprising:

providing a portable device module to the merchant, wherein the portable device is configured to receive transaction information from the customer; and

providing the portable device access to a back office subsystem that is configured to receive and/or process the transaction information in real-time.

11. The method of claim 10, wherein processing the transaction in real-time includes communicating the transaction information from the back office subsystem to a financial processing network for settlement of the transaction.

12. The method of claim 11, wherein processing the transaction in real-time includes communicating information relating to settlement of the transaction from the back office subsystem to the portable device in real-time.

13. The method of claim 10 further comprising supplying an application module to a merchant.

14. The method of claim 13 further comprising providing the application module with access to the back office subsystem.

15. A method for processing a transaction between a merchant in possession of products and a customer for one of the products, the system comprising:

collecting transaction information from the customer using a portable device;

communicating the transaction information from the portable device to a back office subsystem; and

processing the transaction in real-time using the back office subsystem.

16. The method of claim 15 further comprising communicating the transaction information to an application module.

17. The method of claim 15 further comprising configuring the portable device.

18. The method of claim 17, wherein configuring the portable device includes communicating initial information to the portable device.