SYSTEMS, METHODS AND PROCESSOR-READABLE MEDIA FOR CONVERTING COINS TO ELECTRONIC FUNDS DEPOSITED WITH AN ACCOUNT ASSOCIATED WITH A USER AT A POINT OF SALE

• US 20120290417A1
• Filed: 01/16/2012
• Published: 11/15/2012
• Est. Priority Date: 05/10/2011
• Status: Abandoned Application

• Current Assignee: Inicia IP Holdings, LLC.
• Original Assignee: Inicia IP Holdings, LLC.
• Inventors: Ortiz, Luis M., Luevane, James
• Application Number:
  US13/351,048
• Publication Number:
  US 20120290417A1
• Time in Patent Office: Days
• US Class Current: 705/16
• CPC Class Codes: G06Q 20/042 characterized in that the payment protocol involves at least one cheque
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G07G 1/0009 Details of the software in the checkout register, electronic cash register [ECR] or point of sale terminal [POS]
• CPC Class Codes: G07G 1/12 electronically operated digital data processing aspects G06Q20/00

Abstract

Methods, systems and processor-readable media for converting coins at a point-of-sale into electronic funds. Cash can be accepted from a payor for payment of a transaction at a point-of-sale together with identifying information for a virtual coin purse associated with the payor. An amount due for payment and an amount due as change for a settlement of the transaction at the point-of-sale can be reconciled. The virtual coin purse associated with the payor can be credited in a form of electronic funds for change due in lieu of coins with respect to the transaction. The amount due as change and an amount due as bills and an amount due as the coins can be categorized. Bills can be provided to the payor and the amount due as coins are then directed as electronic funds to the virtual coin purse.

Claims

1. A method for engaging in a transaction using virtual funds, said method comprising:

selecting goods or services at a point-of-sale for a transaction;

receiving from said point-of-sale, an amount due with respect to said goods or services selected;

providing electronic cash from a virtual coin purse associated with a payor;

settling said transaction utilizing said electronic funds from said virtual coin purse; and

updating a current balance of said virtual coin purse.

2. The method of claim 1 wherein said point-of-sale comprises an online store.

3. The method of claim 1 wherein said point-of-sale comprises a vending machine.

4. The method of claim 1 wherein said point-of-sale comprises a payment mechanism associated with public transportation.

5. The method of claim 1 wherein said point-of-sale comprises a cash register.

6. The method of claim 3 wherein said vending machine comprises a data communication network connection in order to access a remote server containing account information associated with said virtual coin purse and a user interface to collect said account information associated with said virtual coin purse from a payor.

7. The method of claim 6 wherein said account information is provided from said payor via a biometric reading from said payor.

8. A system for engaging in a transaction using virtual funds, said system comprising:

a processor;

a data bus coupled to said processor; and

a computer-usable medium embodying computer code, said computer-usable medium being coupled to said data bus, said computer program code comprising instructions executable by said processor and configured for;

selecting goods or services at a point-of-sale for a transaction;

receiving from said point-of-sale, an amount due with respect to said goods or services selected;

providing electronic cash from a virtual coin purse associated with a payor;

settling said transaction utilizing said electronic funds from said virtual coin purse; and

updating a current balance of said virtual coin purse.

9. The system of claim 8 wherein said point-of-sale comprises an online store.

10. The system of claim 8 wherein said point-of-sale comprises a vending machine.

11. The system of claim 8 wherein said point-of-sale comprises a payment mechanism associated with public transportation.

12. The system of claim 8 wherein said point-of-sale comprises a cash register.

13. The system of claim 10 wherein said vending machine comprises a data communication network connection in order to access a remote server containing account information associated with said virtual coin purse and a user interface to collect said account information associated with said virtual coin purse from a payor.

14. The system of claim 13 wherein said account information is provided from said payor via a biometric reading.

15. A processor-readable medium storing code representing instructions to cause a processor to perform a process to engage in a transaction using virtual funds, said code comprising code to:

select goods or services at a point-of-sale for a transaction;

receive from said point-of-sale, an amount due with respect to said goods or services selected;

provide electronic cash from a virtual coin purse associated with a payor;

settle said transaction utilizing said electronic funds from said virtual coin purse; and

update a current balance of said virtual coin purse.

16. The processor-readable medium of claim 15 wherein said point-of-sale comprises an online store.

17. The processor-readable medium of claim 15 wherein said point-of-sale comprises a vending machine.

18. The processor-readable medium of claim 15 wherein said point-of-sale comprises a payment mechanism associated with public transportation.

19. The processor-readable medium of claim 15 wherein said point-of-sale comprises a cash register.

20. The processor-readable medium of claim 17 wherein said vending machine comprises a data communication network connection in order to access a remote server containing account information associated with said virtual coin purse and a user interface to collect said account information associated with said virtual coin purse from a payor.

21. The processor-readable medium of claim 20 wherein said account information is provided from said payor via a biometric reading.