Method and system to accept and settle transaction payments for an unbanked consumer
First Claim
1. A computerized method to accept and settle cash transaction payments from an unbanked consumer having no banking account and/or credit card, said computerized method comprising the steps of:
- a. initiating a non-store retailing, cash transaction between said unbanked consumer and a merchant; and
wherein said consumer is remote from said merchant;
b. electronically communicating transaction information from said merchant to a central processing unit having a memory and a processor and being hosted and/or maintained by an intermediate, third-party service provider, and wherein said central processing unit is remote from said merchant and from said consumer;
c. subsequent to steps a and b, automatically generating a unique transaction identifier by said central processing unit for said non-store retailing, cash transaction;
d. electronically storing said transaction information and said unique transaction identifier at said central processing unit;
e. communicating said unique transaction identifier from said central processing unit to said merchant;
f. subsequent to step e, receiving said unique transaction identifier from said consumer at a payment processing unit, wherein said payment processing unit is remote from said merchant and from said central processing unit, wherein said payment processing unit is maintained by said service provider, wherein said payment processing unit consists of a customized, unmanned kiosk having a single button display screen for accessing at least said transaction information, and wherein said kiosk is constructed to accept cash payments from said consumer;
g. electronically communicating said unique transaction identifier from said payment processing unit to said central processing unit;
h. electronically validating said unique transaction identifier using said central processing unit;
i. receiving a cash payment from said consumer for said non-store retailing, cash transaction at said payment processing unit; and
j. subsequent to step i, remitting a non-cash equivalent of said cash payment from said service provider to said merchant.
3 Assignments
0 Petitions
Accused Products
Abstract
A system and method is provided to accept and settle transaction payments for an unbanked consumer. A consumer initiates a transaction with a merchant, and the merchant may transmit transaction information to a central processing unit using an initiating processing unit. The central processing unit may generate a unique transaction identifier or the merchant may generate the unique transaction identifier which complies with the systems rules and notifies the central processing unit of the transaction information and unique transaction identifier. The system may provide the merchant and consumer the nearest payment processing unit. At the payment processing unit, the consumer presents the unique transaction identifier, which is transmitted to the central processing unit for validation. The consumer may also validate the transaction information. The consumer makes payment at the payment processing unit, and the payment information is transmitted to the central processing unit. The system may generate a confirmation receipt for the consumer, and the central processing unit notifies the merchant of payment by the consumer. The merchant may then fulfill the transaction. The system remits the payment to the merchant.
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Citations
17 Claims
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1. A computerized method to accept and settle cash transaction payments from an unbanked consumer having no banking account and/or credit card, said computerized method comprising the steps of:
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a. initiating a non-store retailing, cash transaction between said unbanked consumer and a merchant; and
wherein said consumer is remote from said merchant;b. electronically communicating transaction information from said merchant to a central processing unit having a memory and a processor and being hosted and/or maintained by an intermediate, third-party service provider, and wherein said central processing unit is remote from said merchant and from said consumer; c. subsequent to steps a and b, automatically generating a unique transaction identifier by said central processing unit for said non-store retailing, cash transaction; d. electronically storing said transaction information and said unique transaction identifier at said central processing unit; e. communicating said unique transaction identifier from said central processing unit to said merchant; f. subsequent to step e, receiving said unique transaction identifier from said consumer at a payment processing unit, wherein said payment processing unit is remote from said merchant and from said central processing unit, wherein said payment processing unit is maintained by said service provider, wherein said payment processing unit consists of a customized, unmanned kiosk having a single button display screen for accessing at least said transaction information, and wherein said kiosk is constructed to accept cash payments from said consumer; g. electronically communicating said unique transaction identifier from said payment processing unit to said central processing unit; h. electronically validating said unique transaction identifier using said central processing unit; i. receiving a cash payment from said consumer for said non-store retailing, cash transaction at said payment processing unit; and j. subsequent to step i, remitting a non-cash equivalent of said cash payment from said service provider to said merchant. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17)
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Specification