Systems and methods for managing throughput of point of sale devices

• US 20060180657A1
• Filed: 04/10/2006
• Published: 08/17/2006
• Est. Priority Date: 10/27/2003
• Status: Active Grant

• Current Assignee: Cheryl Phillips, David Bartholomew Smith
• Original Assignee: Cheryl Phillips, David Bartholomew Smith
• Inventors: Smith, David, Phillips, Cheryl
• Granted Patent: US 7,455,220 B2
• Time in Patent Office: Days
• US Class Current: 235/379
• CPC Class Codes: G06Q 20/042 characterized in that the payment protocol involves at least one cheque
• CPC Class Codes: G06Q 20/047 using payment protocols involving electronic receipts
• 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 20/40 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: 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
• CPC Class Codes: G07G 5/00 Receipt-giving machines cash registers giving receipts G07G1/00

Abstract

Systems and methods for electronically processing accounts receivable (AR) check transactions via a location-base device associated with a merchant. The location-base device, such as a point-of-sale (POS) device, can be configured to perform various functions that facilitate processing of AR checks. Such functions may include improved user interface, an ability to handle a repetitive input parameter, an ability to handle multiple merchant identifiers, an ability to generate multiple receipt types, an ability to edit check transactions, an ability to manage throughput of the device, and an ability to allow scanning of different types of checks so as to allow subsequent processing of the scanned checks to be different based on the type of the check. The location-base device configured in one or more of the foregoing manner facilitates a check authorization process performed by a check processing service.

Claims

1. An apparatus for processing a financial transaction involving a merchant, comprising:

a conversion component that converts a payment associated with the financial transaction into electronic data that allows at least a portion of subsequent processing of the financial transaction to be performed electronically;

a storage component having a first capacity that stores a plurality of record data associated with a plurality of converted payments thereby allowing a batch conversion of a plurality of non-face-to-face payments wherein the storing of the plurality of record data allows a corresponding plurality of authorization data to be processed for authorization efficiently by not having to transfer the plurality of the record data along with the plurality of authorization data; and

a processor that monitors a throughput associated with processing of the plurality of non-face-to-face payments wherein the processor further performs at least one function that mitigates an adverse condition of the monitored throughput.

2. The apparatus of claim 1, wherein the financial transaction comprises a checking transaction associated with a check having a magnetic ink character recognition line.

3. The apparatus of claim 2, wherein the conversion component comprises a scanning component configured to read the check'"'"'s magnetic ink character recognition line and to obtain an image of at least a portion of the check.

4. The apparatus of claim 2, wherein the record data comprises an image of the check.

5. The apparatus of claim 2, wherein the authorization data comprises information associated with the magnetic ink character recognition line.

6. The apparatus of claim 1, wherein the at least one function comprises suspending processing of unprocessed checks when a level of storage in the storage component exceeds a specified level.

7. The apparatus of claim 1, wherein the at least one function comprises prompting a user to issue a command to transfer the plurality of stored record data thereby making room in the storage component.

8. The apparatus of claim 1, wherein the at least one function comprises providing a user with an option of transferring the plurality of stored record data at a later time.

9. The apparatus of claim 1, wherein the at least one function comprises providing a user with an option of transferring the stored record data at substantially any time.

10. The apparatus of claim 1, wherein the authorization process comprises a risk assessment of the financial transaction.

11. A method for processing a financial transaction, the method comprising:

converting a payment associated with the financial transaction into electronic data that allows at least a portion of subsequent processing of the financial transaction to be performed electronically wherein the electronic data comprises record data and authorization data;

storing the record data while an authorization process for the financial transaction is performed thereby allowing the authorization process to be performed efficiently by not having to transfer the record data along with the authorization data wherein such storing of the record data allows efficient batch processing of a plurality of non-face-to-face payments; and

performing at least one function that mitigates an adverse condition of a throughput associated with processing of the plurality of non-face-to-face payments.

12. The method of claim 11, wherein the financial transaction comprises a check transaction associated with a check having a magnetic ink character recognition line.

13. The method of claim 12, wherein converting the payment comprises scanning the check to read the magnetic ink character recognition line and to obtain an image of at least a portion of the check.

14. The method of claim 12, wherein the record data comprises an image of the check.

15. The method of claim 12, wherein the authorization data comprises information associated with the magnetic ink character recognition line.

16. The method of claim 11, wherein performing at least one function comprises monitoring a level of stored record data.

17. The method of claim 11, wherein performing at least one function comprises suspending processing of unprocessed checks when a level of stored record data exceeds a specified level.

18. The method of claim 11, wherein performing at least one function comprises prompting a user to issue a command to transfer the stored record data thereby making room in the storage component.

19. The method of claim 11, wherein performing at least one function comprises providing a user with an option of transferring the stored record data at a later time.

20. The method of claim 11, wherein performing at least one function comprises providing a user with an option of transferring the stored record data at substantially any time.

21. The method of claim 12, wherein the authorization process comprises a risk assessment of the check transaction.

22. An apparatus for processing a financial transaction, comprising:

means for converting a payment associated with the financial transaction into electronic data that allows at least a portion of subsequent processing of the financial transaction to be performed electronically wherein the electronic data comprises record data and authorization data;

means for determining whether a throughput of a location-base device processing a plurality of the financial transactions is affected in an adverse manner; and

means for mitigating at least some of the adverse effects on the throughput of the location-base device thereby allowing batch processing of a plurality of non-face-to-face transactions.

23. The apparatus of claim 22, wherein the financial transaction comprises a check transaction.

24. The apparatus of claim 22, wherein the means for determining comprises monitoring a level of storage of record data associated with a plurality of check transactions wherein the record data are stored while corresponding authorization data are used to authorize or decline the check transactions.

25. The apparatus of claim 22, wherein the means for mitigating comprises suspending processing of unprocessed checks when a level of stored data exceeds a specified level.

26. The apparatus of claim 22, wherein the means for mitigating comprises prompting a user to issue a command to transfer a plurality of stored record data thereby making room in a storage component.

27. The apparatus of claim 22, wherein the means for mitigating comprises providing a user with an option of transferring stored record data at a later time.

28. The apparatus of claim 22, wherein the means for mitigating comprises providing a user with an option of transferring stored record data at substantially any time.