Machine, methods, and program product for electronic inventory tracking

• US 9,990,612 B2
• Filed: 11/04/2013
• Issued: 06/05/2018
• Est. Priority Date: 11/26/2008
• Status: Active Grant

• Current Assignee: Pathward National Association
• Original Assignee: MetaBank (Meta Financial Group Incorporated)
• Inventors: Brooks, Jason, Wells, Mike
• Primary Examiner(s): An, Ig T
• Application Number:
  US14/071,386
• Publication Number:
  US 20140067627A1
• Time in Patent Office: 1,674 Days
• CPC Class Codes: G06Q 10/0833 Tracking
• CPC Class Codes: G06Q 10/087 Inventory or stock management, e.g. order filling, procurement or balancing against orders
• CPC Class Codes: G06Q 10/0875 Itemisation or classification of parts, supplies or services, e.g. bill of materials
• CPC Class Codes: G06Q 20/085 involving remote charge determination or related payment systems
• 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 20/203 Inventory monitoring
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions

Abstract

Machine, methods, and program product for facilitating electronic inventory tracking and management of products through messaging over a payment network, are provided. An example includes an inventory management computer in communication with a merchant POS apparatus or terminal over an existing financial services payment network and configured to receive and process purchase transaction data associated with a product being purchased, for use by a product provider. The computer can include electronic inventory management program product configured to perform various operations including receiving a purchase transaction message sent through the payment network, storing purchase transaction data, and notifying a product provider of the purchase transaction data. The purchase transaction message can include a financial services electronic payment network compatible universal product-transaction identifier, which can be received through the POS terminal in response to a consumer or merchant interfacing the product'"'"'s container, or an associated purchase ticket or slip storing the transaction identifier, with the POS terminal.

Claims

1. A method to facilitate electronic inventory management of a plurality of products provided by a plurality of different product providers, the method comprising:

generating, by a computer associated with a financial institution to define a financial institution computer, a plurality of universal product transaction identifiers adapted to be positioned on a plurality of product apparatuses to facilitate electronic inventory management of a plurality of different products provided by each of the plurality of different product providers, each of the plurality of universal product transaction identifiers associated with the financial institution and including a bank identifier number (BIN) issued by the financial institution and a product identifier, the BIN being compatible with an electronic financial payment network to thereby enable the electronic financial payment network to identify the financial institution as the issuer of the plurality of universal product transaction identifiers;

determining, by the financial institution computer, receipt of one or more first transaction messages including one or more of the plurality of universal product transaction identifiers and a flag indicating a capability of a payment interface associated with one of a plurality of merchants to support partial-authorization messaging, the one or more first transaction messages being sent through the electronic financial payment network from one or more of a plurality of merchant acquirer computers responsive to one or more purchase requests of one or more of the plurality of different products;

sending, by the financial institution computer via the electronic financial payment network responsive to the determining receipt of the one or more first transaction messages, partial-authorization approval data to the one or more of the plurality of merchant acquirer computers to indicate a requirement to tender funds to complete the one or more purchase requests of the one or more of the plurality of different products to thereby use the partial authorization messaging to facilitate communication of product inventory data using the electronic financial payment network;

determining receipt of one or more second transaction messages sent through the electronic financial payment network from the one or more of the plurality of merchant acquirer computers, the one or more second transaction messages indicating a purchase acknowledgement, wherein the one or more second transaction messages is responsive to the one of the plurality of merchant acquirer computers receiving authorization of a transaction card issued being used as a method of payment for the one or more of the plurality of different products; and

notifying, by the financial institution computer responsive to determining receipt of the one or more second transaction messages, at least one of the plurality of product providers of one or more product provider transaction messages, the one or more product provider transaction messages including inventory data regarding one or more the plurality of different products provided by the at least one of the plurality of different product providers to the one of the plurality of merchants.

2. A method as defined in claim 1, wherein the computer-implemented method further comprises the step of:

responsive to receiving account information from the one or more of the plurality of merchant acquirer computers after sending the partial-authorization approval data, sending, via the electronic financial payment network, authorization data to the one or more of the plurality of merchant acquirer computers to indicate authorization of the payment requests, the authorization being responsive to the transaction card being used as a method of payment for the one or more of the plurality of different products; and

wherein the determining receipt of the one or more second transaction messages is responsive the sending the authorization data step.

3. A method as defined in claim 1, wherein the transaction card is one or more of the following:

a prepaid card, a credit card, or a debit card.

4. A method as defined in claim 1, wherein the purchase acknowledgement received further indicate one or more of the following data items:

merchant category code, merchant identification number, terminal identification number, date purchased, time-of-day purchased, and product purchase location indicia.

5. A method as defined in claim 1, wherein the payment interface retrieves the one or more of the plurality of universal transaction identifiers via one or more of the following:

swiping a magnetic stripe positioned on the one or more of the plurality of product apparatuses, reading a RFID tag positioned on or in the one or more of the plurality of product apparatuses, or scanning a bar code positioned on the one or more of the plurality of product apparatuses.

6. A method as defined in claim 1, wherein a set of the plurality of different products provided by one of the plurality of different product providers have a common BIN.

7. A method as defined in claim 4, wherein the one or more product provider transaction messages include a compiled report of the one or more of the plurality of different products based on date purchased, time-of-day-purchased, or product purchase location.

8. A method as defined in claim 1, wherein the method further comprises the step of:

communicating, via the communication network, the plurality of universal product transaction identifiers to the plurality of different product providers positioned remote from each other so that the plurality of universal product transaction identifiers are adapted to be positioned on the plurality of product apparatuses, the plurality of different product providers adapted to provide the plurality of different products to the plurality of merchants.

9. A method as defined in claim 1, wherein the method further comprises the step of:

creating, by the financial institution computer, a plurality of product look up tables that correlate the plurality of product identifiers of the plurality of universal product transaction identifiers with one or more of the plurality of different products of one or more of the plurality of different product providers, the creating being responsive to receiving, via a communication network, product information from the different plurality of product providers.