Financial transaction approval system and method
First Claim
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1. A method of processing a retail sales transaction, the method comprising:
- processing a plurality of items for purchase using a point-of-sale terminal, wherein;
the point-of-sale terminal is part of a transaction approval system at a point of sale in a retail store;
processing the plurality of items for purchase includes determining associated price and quantity information for each item included in the plurality of items for purchase based on identifiers associated with the plurality of items for purchase,processing the plurality of items for purchase begins when an identifier of a first one of the plurality of items for purchase is entered into the point-of-sale terminal, andprocessing the plurality of items for purchase is completed when the identifiers associated with all of the plurality of items for purchase have been entered into the point-of-sale terminal and all the associated price and quantity information for each item included in the plurality of items for purchase has been determined;
before completing processing the plurality of items for purchase, receiving via the transaction approval system an identification of a financial account that will be used by a consumer to pay for the plurality of items for purchase;
during processing of the plurality of items for purchase, providing the consumer with an option to provide a signature for electronic capturing by the transaction approval system, wherein the signature serves as consumer approval to apply payment from the financial account toward a total cost of the plurality of items for purchase; and
after processing the plurality of items for purchase ends and the consumer has been provided the option to provide the signature, determining the total cost of the plurality of items for purchase.
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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.
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Citations
20 Claims
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1. A method of processing a retail sales transaction, the method comprising:
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processing a plurality of items for purchase using a point-of-sale terminal, wherein; the point-of-sale terminal is part of a transaction approval system at a point of sale in a retail store; processing the plurality of items for purchase includes determining associated price and quantity information for each item included in the plurality of items for purchase based on identifiers associated with the plurality of items for purchase, processing the plurality of items for purchase begins when an identifier of a first one of the plurality of items for purchase is entered into the point-of-sale terminal, and processing the plurality of items for purchase is completed when the identifiers associated with all of the plurality of items for purchase have been entered into the point-of-sale terminal and all the associated price and quantity information for each item included in the plurality of items for purchase has been determined; before completing processing the plurality of items for purchase, receiving via the transaction approval system an identification of a financial account that will be used by a consumer to pay for the plurality of items for purchase; during processing of the plurality of items for purchase, providing the consumer with an option to provide a signature for electronic capturing by the transaction approval system, wherein the signature serves as consumer approval to apply payment from the financial account toward a total cost of the plurality of items for purchase; and after processing the plurality of items for purchase ends and the consumer has been provided the option to provide the signature, determining the total cost of the plurality of items for purchase. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
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11. A method of performing a retail sales transaction using a transaction approval system including a point-of-sale terminal and a financial transaction terminal, the method comprising steps performed in the following order:
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using the point-of-sale terminal to determine an identity of a first one of a plurality of goods being purchased by a consumer based on a product code of the first one of the plurality of goods to begin the retail sales transaction; providing the consumer with an opportunity to provide the transaction approval system with an electronically captured confirmation via the financial transaction terminal signifying consumer approval to charge a total price of all the plurality of goods to a financial account associated with the consumer; determining the total price for all of the plurality of goods being purchased by the consumer; and charging the total price of all the plurality of goods to the financial account. - View Dependent Claims (12, 13, 14, 15, 16, 17)
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18. A method of processing a retail sales transaction in a retail store, the method comprising:
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processing a plurality of items for purchase using a point-of-sale terminal including identifying and determining associated price and quantity information for each item included in the plurality of items for purchase, wherein processing the plurality of items begins by identifying and determining price and quantity information for a first one of the plurality of items for purchase and is completed when a total price of all the plurality of items for purchase is determined; after beginning and before completing processing the plurality of items for purchase, receiving a financial transaction card including determining an identification of a financial account that will be used by a consumer to pay for the plurality of items for purchase, wherein; the identification is electronically received via a financial transaction terminal coupled with the point-of-sale terminal, and the identification is electronically received substantially free from intervention by an employee of the retail store; after beginning and before completing processing of the plurality of items for purchase, providing the consumer with an option to provide a digitally captured signature using the financial transaction terminal, wherein the digitally captured signature serves as consumer approval to apply payment from the financial account toward the total price of the plurality of items for purchase; after completing processing of the plurality of items for purchase and receiving the financial transaction card, determining the total price of the plurality of items for purchase; and charging the total price of the plurality of items for purchase to the financial account. - View Dependent Claims (19, 20)
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Specification