Funds distribution system connected with point of sale transactions

• US 7,171,370 B2
• Filed: 04/01/2005
• Issued: 01/30/2007
• Est. Priority Date: 02/18/1993
• Status: Expired due to Fees

• Current Assignee: Bertram V. Burke
• Original Assignee: Bertram V. Burke
• Inventors: Burke, Bertram V.
• Primary Examiner(s): OUELLETTE, JONATHAN P
• Application Number:
  US11/098,651
• Publication Number:
  US 20050167483A1
• Time in Patent Office: 669 Days
• Field of Search: 705/1, 705/16, 705/17, 705/21, 705/24, 705/30, 235/375, 235/379, 235/380
• US Class Current: 705/16
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/202 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 20/209 Specified transaction journal output feature, e.g. printed receipt or voice output
• CPC Class Codes: G06Q 30/0207 Discounts or incentives, e.g. coupons or rebates
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/12 Accounting
• CPC Class Codes: G07F 7/00 Mechanisms actuated by objects other than coins to free or to actuate vending, hiring, coin or paper currency dispensing or refunding apparatus
• CPC Class Codes: G07G 1/12 electronically operated digital data processing aspects G06Q20/00
• CPC Class Codes: G07G 1/14 Systems including one or more distant stations co-operating with a central processing unit data transmission in general H04L; telemetry systems for selectively calling a substation from a main station H04Q9/00

Abstract

An automated way for sales establishments to extend point of sale (POS) cash transactions to allow consumers to save change or transfer discretionary funds into saving or donating accounts managed by a central clearinghouse. The system includes a network composed of consumer/payors with identification cards, neutral merchants who enter data and funds into remote POS terminals, central clearinghouse that offers/process accounts, and service providers for participating consumer/account holders, i.e. nonprofit giving, travel, mutual funds, savings, etc. The network provides consumers with a seamless, convenient, and painless way to save/donate every time they spend at multiple POS counter locations.

Claims

1. A system, comprising:

a point of sale terminal controlled by a merchant;

entry means in the point of sale terminal for having a transactor enter an amount corresponding to cash being offered;

calculating means in the point of sale terminal for recording an amount of excess cash;

identifier entering means for entering an identifier; and

apportioning means responsive to said identifier for apportioning at least a part of the excess cash among one or more predetermined accounts, said accounts being identified independent of data in the point of sale terminal.

2. A system as in claim 1, wherein said remote input includes change making means for returning remains from an excess payment, after apportionment, as cash.

3. A system as in claim 2, wherein said point of sale terminal includes a display for displaying the excess cash and the remains.

4. A system as in claim 1, wherein said identifier entering means includes means for entering changes in the apportionment.

5. A system as in claim 1, wherein said apportioning means includes means for allocating a portion of the excess to charity donee accounts with each apportionment.

6. A system as in claim 5, wherein said apportioning means includes means for transferring the portion of the excess for the charity donee account directly to the charity donee with each apportionment.

7. A system as in claim 1, wherein said apportionment means includes:

charity storage means for storing names of a plurality of qualified charities;

bank storage means for storing names of a number of banks;

account storage means for storing numbers of client accounts;

entry means for entering the names of charities, banks and client accounts so as to establish and entered name for each entry of a name;

comparison means responsive to said storage means and said entry means for comparing each entered name with a stored name to determine if the entered name matches a stored name;

assignment means responsive to said comparison means for assigning a charity, bank or other account to an account when the charity, bank or other account has been entered;

recording means responsive to said account storage means for recording money entries into said accounts; and

allocating means responsive to said account storage means for registering an allocation of parts of monies recorded into accounts among the charities, banks or other accounts entered for that account.

8. A system as in claim 1, wherein said apportioning means includes a central processor remote from the point of sale terminal for receiving the data from the identifier entering means.

9. A system as in claim 1, wherein said identifier entering means includes receiving means for receiving a card having and instructions for apportioning, and said apportioning means further includes means for receiving the data from the card.

10. A system as in claim 9, wherein said apportioning means includes a central processor remote from the point of sale terminal for receiving the data from the identifier entering means on a batch processing basis.

11. A system as in claim 8, wherein the central processor receives the data from the identifier entering means on a real time basis.

12. A system as in claim 1, further comprising printout means coupled to said point of sale terminal, said entry means, and said apportioning means for printing out the amounts entered and apportioned.

13. A system as in claim 12, wherein said printout means prints out the status of each of the accounts.

14. A system as in claim 1, wherein the card identifies apportionment among the predetermined accounts independent of data in the point of sale terminal.

15. A system as in claim 1, wherein a coupon or rebate is converted into financial credits for transfer to the one or more predetermined accounts.

16. A point of sale operating method, comprising:

entering an amount corresponding to a sale amount due into a point of sale terminal controlled by a merchant;

entering an amount corresponding to cash being paid;

determining any excess cash payment;

entering a card identifier;

apportioning at least a part of the excess cash payment among one or more of a number of predetermined accounts as determined by the card identifier; and

crediting the excess paid to the accounts to the card identifier;

the predetermined accounts being identified with said card identifier independent of said point of sale terminal.

17. A method as in claim 16, wherein said apportioning step includes making change for returning any remains from the excess payment, after apportionment, as cash.

18. A method as in claim 16 further comprising displaying the excess cash and the remains.

19. A method as in claim 16 further comprising printing out the status of each of the accounts.

20. A method as in claim 16, wherein said step of apportioning includes entering changes in the apportionment.

21. A method as in claim 16, wherein said step of apportioning includes allocating a portion of the excess to charity donee accounts with each apportionment.

22. A method as in claim 21, wherein said apportioning step includes transferring a portion of the excess for the charity donee account directly to the charity donee with each apportionment.

23. A method as in claim 16, wherein said apportionment step includes:

storing names of a plurality of qualified charities;

storing a number of client accounts;

storing names of a number of banks;

entering the names of charities and banks so as to define an entered name for each entry of a name;

comparing each entered name with a stored name to determine if the entered name matches the stored name;

assigning a charity or bank to an account when a charity or bank has been entered;

recording money entries into set accounts; and

registering an allocation of parts of monies recorded into accounts among charities and banks entered for that account.

24. A method as in claim 16, wherein apportionment among the predetermined accounts is identified by the card identifier independent of data in the point of sale terminal.

25. A method as in claim 16, further comprising the step of receiving data from the card identifier in a central processor remote from the point of sale terminal.

26. A method as in claim 16, wherein the step of entering a card identifier includes receiving a card having the card identifier and data including the accounts and instructions for apportioning, and said apportioning step further includes receiving the data from the card.

27. A method as in claim 26, wherein said apportioning step includes receiving in a central processor remote from the point of sale terminal data entered from the card on a batch processing basis.

28. A method as in claim 27, wherein the step of receiving data in the central processor remote from the point of sale terminal includes receiving the data on a real time basis.

29. A method as in claim 24, further comprising the step of printing out the amounts entered and apportioned.

30. A method as in claim 24, wherein the card identifies the relationship of apportioning among accounts independent of data in the point of sale terminal.

31. A method as in claim 16, wherein a coupon or rebate is converted into financial credits for transfer to the one or more predetermined accounts.