System and methods for disclosing transaction information to customers

• US 6,761,311 B1
• Filed: 03/21/2003
• Issued: 07/13/2004
• Est. Priority Date: 03/21/2003
• Status: Active Grant

• Current Assignee: Western Union
• Original Assignee: First Data Corporation (Fiserv Incorporated)
• Inventors: Thompson, Mark, Algiene, Kenneth
• Primary Examiner(s): Lee, Michael G.
• Assistant Examiner(s): RIZKALLAH, KIMBERLY NGUYEN
• Application Number:
  US10/394,603
• Time in Patent Office: 480 Days
• Field of Search: 235/379, 235/380, 235/381
• US Class Current: 235/383
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/407 Cancellation of a transaction
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

A method of disclosing transaction information to customers includes receiving at a host computer system a file comprising processing information. The processing information comprises a plurality of transaction categories and fee information associated with each transaction category. The method also includes receiving a message from a point-of-sale device requesting the fee information associated with at least one particular transaction category relating to a transaction with a customer and sending from the host computer system an electronic message comprising the fee information. The method further comprises displaying transaction information relating to the electronic message at the point-of-sale device and providing the customer the opportunity to cancel the transaction. The transaction may involve an exchange between at least two different forms of value.

Claims

1. A method of disclosing to customers transaction information, the method comprising:

receiving at a host computer system a file comprising processing information, wherein the processing information comprises a plurality of transaction categories and fee information associated with each transaction category;

receiving a message from a point-of-sale device requesting the fee information associated with at least one particular transaction category relating to a transaction with a customer;

sending from the host computer system an electronic message comprising the fee information;

displaying transaction information relating to the electronic message at the point-of-sale device; and

providing the customer an opportunity to cancel the transaction;

wherein the transaction involves an exchange between at least two different forms of value, and wherein the transaction information comprises a message notifying the customer that funds are acquired at a first exchange rate and sold at a second exchange rate.

2. The method of claim 1, wherein the transaction information comprises a fee.

3. The method of claim 1, wherein the processing information further comprises an exchange rate between the at least two different forms of value.

4. The method of claim 3, further comprising:

receiving a message from a point-of-sale device requesting the exchange rate between the at least two different forms of value; and

sending from the host computer system an electronic message comprising the exchange rate.

5. The method of claim 4, wherein the transaction information further comprises the exchange rate.

6. The method of claim 4, wherein the first exchange rate is a wholesale exchange rate and the second exchange rate is a retail exchange rate.

7. The method of claim 4, wherein the first exchange rate is a published exchange rate, and the second exchange rate is an offered exchange rate.

8. The method of claim 1, wherein the transaction comprises a money order purchase.

9. The method of claim 1, wherein the transaction comprises a money order redemption.

10. The method of claim 1, wherein the transaction comprises a wire transfer.

11. The method of claim 1, wherein the transaction comprises a merchandise purchase.

12. A method of disclosing to customers transaction information relating to transactions, the method comprising:

receiving at a host computer system a file comprising processing information, wherein the processing information comprises an exchange rate between each pair of a plurality of value forms;

receiving a message from a point-of-sale device requesting the exchange rate between two particular value forms relating to a transaction with a customer; and

sending from the host computer system an electronic message comprising the exchange rate;

displaying transaction information at the point-of-sale device, wherein the transaction information comprises a message notifying the customer that funds are acquired at a first exchange rate and sold at a second exchange rate; and

providing the customer the opportunity to cancel the transaction.

13. The method of claim 12, wherein the transaction information further comprises the exchange rate.

14. The method of claim 12, wherein the first exchange rate is a wholesale exchange rate and the second exchange rate is a retail exchange rate.

15. The method of claim 12, wherein the first exchange rate is a published exchange rate, and the second exchange rate is an offered exchange rate.

16. The method of claim 12, wherein the transaction comprises a money order redemption.

17. The method of claim 12, wherein the transaction comprises a wire transfer.

18. The method of claim 12, wherein the transaction comprises a merchandise purchase.

19. A method of disclosing to customers transaction information relating to transactions, the method comprising:

receiving at a point-of-sale device transaction parameters relating to a transaction with a customer;

transmitting from the point-of-sale device to a host computer a request for transaction information associated with the transaction;

receiving the transaction information;

displaying the transaction information to the customer, wherein the transaction information comprises a message notifying the customer that funds are acquired at a first exchange rate and sold at a second exchange rate;

providing the customer an opportunity to complete or abort the transaction based on the transaction information.

20. The method of claim 19, further comprising receiving an input to abort the transaction.

21. The method of claim 19, wherein displaying the transaction information to the customer comprises displaying an exchange rate based on the transaction parameters.

22. The method of claim 19, wherein the transaction information comprises a notice that currency is purchased at wholesale and sold at retail.

23. The method of claim 19, wherein providing the customer the opportunity to cancel the transaction comprises displaying an accept icon, the method further comprising receiving a selection from a customer.

24. The method of claim 19, wherein providing the customer the opportunity to cancel the transaction comprises displaying an accept icon, the method further comprising timing out the transaction in the absence a selection from a customer.

25. The method of claim 19, further comprising:

displaying a selection screen on the point-of-sale device relating to sending a notification to a recipient;

receiving a selection from the customer; and

transmitting a notification to the recipient.

26. A method of transferring money, comprising:

receiving at a point-of-sale device transaction parameters relating to a transaction with a customer;

displaying exchange the information relating to the transaction; and

displaying information that permits a customer to either accept or decline the transaction;

wherein the transaction involves an exchange between at least two different forms of value, wherein the information that permits the customer to either accept or decline the transaction comprises a message notifying the customer that funds are acquired at a first exchange rate and sold at a second exchange rate.

27. The method of claim 26, wherein the information that permits a customer to either accept or decline the transaction comprises displaying at least an accept icon on a display screen.

28. The method of claim 27, wherein the display screen is a touch screen.

29. The method of claim 26, further comprising receiving a selection from a customer.