FINANCIAL TRANSACTION APPROVAL SYSTEM AND METHOD

• US 20090182641A1
• Filed: 03/30/2009
• Published: 07/16/2009
• Est. Priority Date: 09/16/2004
• Status: Active Grant

• Current Assignee: Target Brands Inc. (Target Corporation)
• Original Assignee: Target Brands Inc. (Target Corporation)
• Inventors: ASH, Robert W.
• Granted Patent: US 7,801,764 B2
• Time in Patent Office: Days
• US Class Current: 705/21
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/202 Interconnection or interaction of plural electronic cash registers [ECR] or to host computer, e.g. network details, transfer of information from host to ECR or from ECR to ECR
• 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 20/382 insuring higher security of transaction
• 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 20/42 Confirmation, e.g. check or permission by the legal debtor of payment
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G07G 1/00 Cash registers alarm indicators G07G3/00
• CPC Class Codes: G07G 1/0036 Checkout procedures

Abstract

A method of sale including processing a plurality of purchases to be sold to a consumer, identifying a consumer financial account held by a financial institution, receiving authorization from the financial institution to enable payment for the plurality of purchases from the consumer financial account, and providing the consumer with an option to approve the payment from the consumer financial account. The option is provided during processing of the plurality of purchases. Transaction approval systems provide additional advantages.

Claims

1. A method of sale comprising:

processing a plurality of purchases to be sold to a consumer;

identifying a consumer financial account held by a financial institution;

receiving authorization from the financial institution to enable payment for the plurality of purchases from the consumer financial account; and

providing the consumer with an option to approve the payment from the consumer financial account, wherein the option is provided during processing of the plurality of purchases.