SYSTEM FOR AUTHORIZING CREDIT USE

• US 20070164102A1
• Filed: 01/17/2007
• Published: 07/19/2007
• Est. Priority Date: 01/17/2006
• Status: Active Grant

• Current Assignee: HSBC Finance Corporation (HSBC Holdings plc)
• Original Assignee: HSBC Finance Corporation (HSBC Holdings plc)
• Inventors: Haertel, Scott
• Granted Patent: US 7,885,890 B2
• Time in Patent Office: Days
• US Class Current: 235/380
• CPC Class Codes: G06Q 20/204 comprising interface for record bearing medium or carrier for electronic funds transfer or payment credit
• 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 20/403 Solvency checks
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof

Abstract

A credit approval and authorization system includes a credit request device, such as a terminal, located in a sales location, such as a store. The credit request device is operable to receive customer-related information, including a credit request, and to communicate the customer-related information to a credit analysis module. If the credit request is approved by the credit analysis module, the credit analysis module generates a conditional offer and the credit request device directs the customer to a point of sale system, such as a cash register, within the sales location, for manual verification of the customer'"'"'s identity by an employee of the merchant. If the conditional offer is accepted and the identity of the customer is verified at the point of sale system, an activation module operates to establish a credit account. The system also includes an authorization module operable to determine whether to authorize use of the credit account to make a purchase.

Claims

1. A system for approving a credit request, the system comprising:

a credit request device operable to receive a credit request and information relating to the credit request from a customer, the credit request device located at a first location;

a point of sale system operable to receive customer-related information and located at a second location;

a credit analysis module operable to analyze the information relating to the credit request to determine whether the credit request should be approved;

a first communication path affording communication between the credit request device and the credit analysis module for communication of the information relating to the credit request;

an activation module operable to establish a credit account including a line of credit for the customer;

an authorization module operable to authorize a purchase by the customer using the line of credit; and

a second communication path affording communication between the point of sale system and the credit analysis module, and between the point of sale system and the authorization module.

2. The system of claim 1, wherein if the credit request is approved by the credit analysis module, the credit analysis module generates a conditional offer and the credit request device directs the customer to the point of sale system at the second location for merchant verification of an identity of the customer, and wherein if the identity of the customer is verified, the activation module operates to establish the credit account.

3. The system of claim 2, wherein the credit request device includes an output device, and wherein the conditional offer is communicated to the customer by way of the output device.

4. The system of claim 1, wherein the second communication path communicates the customer-related information to the credit analysis module, and the credit analysis module compares the customer-related information to the information relating to the credit request.

5. The system of claim 1, wherein the second communication path includes a communication network having a first data flow channel, a second data flow channel, and a third data flow channel, wherein the first data flow channel communicates the customer-related information between the point of sale system and the credit analysis module, wherein the second data flow channel communicates the customer-related information between the point of sale system and the activation module, and wherein the third data flow channel communicates information relating to the line of credit and the purchase between the point of sale system and the authorization module.

6. The system of claim 1, wherein the credit analysis module communicates acceptance of the conditional offer to the activation module, and wherein the activation module communicates a credit limit to the authorization module.

7. The system of claim 1, wherein the first and second locations are located within a merchant store, and wherein the credit request device is a terminal located within the merchant store, and the point of sale system is a cash register located within the merchant store.

8. The system of claim 1, wherein if the credit request is denied by the credit analysis module, the credit request device directs the customer to a service area located at a third location.

9. A system for approving the use of credit for a purchase, the system comprising:

a credit request device including an input device for receiving a credit request from a customer, and an output device for communicating information to the customer, the credit request device located at a first location;

a credit analysis module operable to receive and analyze the credit request, and to determine whether the credit request should be approved;

a first communication path providing communication between the credit request device and the credit analysis module;

a point of sale unit operable to receive customer-related information and located at a second location; and

a second communication path providing communication between the point of sale unit and the credit analysis module.

10. The system of claim 9, wherein if the credit analysis module approves the credit request, the credit analysis module generates a conditional offer and communicates the conditional offer to the credit request device by way of the first communication path, and wherein in response to receiving the conditional offer, the credit request device by way of the output device directs the customer to the point of sale unit for verification of an identity of the customer.

11. The system of claim 10, wherein when the customer moves from the credit request device to the point of sale system, a merchant manually verifies the identity of the customer.

12. The system of claim 9, wherein if the credit analysis module requires additional information to determine whether the credit request should be approved, the credit analysis module communicates a request for additional information to the credit request device, and the credit request device by way of the output device communicates the request for additional information to the customer.

13. The system of claim 9, wherein if the credit analysis module is unable to approve the credit request, the credit analysis module communicates the inability to approve the credit request to the credit request device, and wherein the credit request device by way of the output device provides instructions directing the customer to a customer service area located at a third location.

14. The system of claim 9, wherein the credit request device is a terminal and the input device includes at least one of a touch screen monitor and a magnetic card reader.

15. The system of claim 9, wherein the credit request includes information relating to the credit request, and customer identification information, and wherein the credit analysis module compares the customer identification information received by the credit request device with the customer-related information received by the point of sale unit to determine whether a credit account should be established.

16. A method for approving a credit request, the method comprising:

receiving a credit request from a customer through a credit request device located at a first location;

communicating the credit request to a credit analysis module;

analyzing the credit request to determine if the credit request should be approved, the credit request analyzed by the credit analysis module;

presenting the customer with a conditional offer for credit if the credit request is approved; and

manually verifying the identity of the customer at a second location.

17. The method of claim 16, further comprising directing the customer to a point of sale system located at the second location for the manual verification of the identity of the customer.

18. The method of claim 17, further comprising communicating the verification of the identity of the customer to an activation module, and activating a credit account, the credit account activated by the activation module.

19. The method of claim 18, further comprising communicating a credit limit from the activation module to an authorization module, communicating a purchase amount from the point of sale system to the authorization module, and comparing the purchase amount to the credit limit, the purchase amount and the credit limit compared by the authorization module.

20. The method of claim 17, further comprising receiving customer-identification information through the point of sale system, communicating the customer-identification information to the credit analysis module, and comparing the customer-identification information with the credit request to determine whether a credit account should be established.

21. The method of claim 16, further comprising directing the customer to a customer service area if the credit request is denied.

22. The method of claim 16, further comprising providing the customer with a pre-approval notification before accepting the credit request from the customer, wherein accepting the credit request includes accepting information included in the pre-approval notification.

23. The method of claim 22, further comprising determining if the customer is a pre-approved customer, and automatically establishing a credit account with a pre-approved credit limit if the customer is determined to be a pre-approved customer.