Multiple denomination currency receiving and prepaid card dispensing method and apparatus
First Claim
Patent Images
1. A method for processing currency of various denominations and corresponding values comprising the steps of:
- receiving currency of a first denomination with a first value at an automatic currency processor;
assessing a first fee in response to the first denomination;
receiving currency of a second denomination with a second value at the automatic currency processor; and
assessing a second fee different from the first fee in response to the second denomination.
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Accused Products
Abstract
A method and system and computer readable medium for processing currency including cash, coins, passive cards, prepaid cards, debit cards, check cards, and smart cards and for providing tokens including passive cards, debit cards, check cards, and smart cards. A transaction fee is calculated based upon a combination of one more of the following (i) type and amount of currency deposited; (iii) the type and amount of token requested; and (iii) the type and amount of the subsequent purchase.
176 Citations
48 Claims
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1. A method for processing currency of various denominations and corresponding values comprising the steps of:
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receiving currency of a first denomination with a first value at an automatic currency processor;
assessing a first fee in response to the first denomination;
receiving currency of a second denomination with a second value at the automatic currency processor; and
assessing a second fee different from the first fee in response to the second denomination. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21)
determining a total deposit for a first transaction by adding the first value with the second value and then subtracting the first fee added with the second fee. -
6. The method according to claim 5, wherein the method occurs within a remote automatic currency processor and the method further comprising the step of:
electronically transferring a transaction notification ID including the total deposit of the transaction to a financial server over a financial network external to the remote automatic currency processor.
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7. The method according to claim 6, wherein the financial server includes a credit network for facilitating a credit charging transaction, the method further comprising the steps of:
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receiving a charge value entered at the remote automatic currency processor;
assessing a third fee in response to the charge value; and
collecting the charge value using the credit network wherein, the step of determining the total deposit further determines the total deposit by adding the charged value and subtracting the third fee.
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8. The method according to claim 6, further comprising the steps of:
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associating an identification signal with the transaction, the identification signal at least partially identifying the transaction; and
providing a token at the remote automatic currency processor having the identification signal.
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9. The method according to claim 8, wherein a type of token provided further mathematically alters the amount of a total deposit calculated based upon the sum of the first and the second values and subtracting the first and second fees.
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10. The method according to claim 9, wherein an amount of a type of token provided further mathematically alters the amount of a total deposit calculated.
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11. The method according to claim 9, wherein whether a new token is dispensed or a user'"'"'s preexisting token is recharged changes the amount of a total deposit calculated.
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12. The method according to claim 11, wherein the token corresponds to a passive card having a magnetic stripe to generate the identification signal.
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13. The method according to claim 12, wherein the remote automatic currency processor includes a passive card reader for reading the magnetic stripe, the method further comprising the steps of:
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reading the magnetic stripe of a pre-existing passive card with the passive card reader and determining the identification signal in response thereto; and
wherein the step of associating associates the identification signal in response to the step of reading, and the token provided by the step of providing provides the pre-existing passive card.
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14. The method according to claim 9, wherein the token corresponds to printed paper having the identification signal.
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15. The method according to claim 9, wherein the token is an active card having the identification signal and at least a portion of the electronic funds transfer system is included within the active card.
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16. The method according to claim 15, wherein the remote automatic currency processor includes an active card interface for interfacing with the smart card, the method further comprising the steps of;
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interfacing with the active card and determining the identification signal in response thereto, wherein the step of associating associates the identification signal in response to the step of interfacing, and the token provided by the step of providing provides the pre-existing active card.
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17. The method according to claim 8, wherein the token may be used to purchase goods or services at any of a plurality of points of purchase accepting currency in exchange for the goods or services, the method further comprising the step of
discounting a purchase of goods or services at a selected point of purchase of the plurality of points of purchase in response to the token being used to facilitate the purchase, thereby allowing a retailer with the remote automatic currency processor to discount purchases for its customers. -
18. The method according to claim 17, wherein the step of discounting the purchase expires a predetermined time after the step of electronically transferring the transaction.
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19. The method according to claim 17, wherein the step of discounting the purchase does not exceed the combination of the first and the second fees.
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20. The method according to claim 1 wherein the first denomination corresponds to a metallic coin and the second denomination corresponds to a first paper note, the method further for exchanging metallic coins for paper notes and further comprising the steps of:
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receiving a second paper note having a note value; and
dispensing a plurality of metallic coins having a total value equivalent to the note value wherein no fee is assessed in response to the steps of receiving the second paper note and dispensing the plurality of metallic coins.
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21. The method according to claim 20 wherein
the step of dispensing the plurality of metallic coins dispenses at least one metallic coin received at the step of receiving currency of the first denomination and the first denomination corresponds to the at least one metallic coin, thereby receiving the at least one metallic coin and assessing a corresponding fee while dispensing the at least one metallic coin without a fee, allowing retention of the assessed fee even though the at least one metallic coin is no longer retained by the automatic currency processor.
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22. A method for determining a transaction fee to convert a first form of payment deposited to second form of payment dispensed, where the transaction fee is charged for the conversion, the method comprising the steps of:
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receiving a first form of payment deposited from a group of currency consisting of coins, notes, receipts, passive cards, and active cards;
dispensing a second form of payment dispensed from a group of tokens consisting of coins, notes, receipts, passive cards, and active cards;
calculating a transaction fee based upon one or more of the following;
at least one of the first form of payment received;
at least one of the amounts of the first form of payment received;
at least one of the second form of payment dispensed; and
at least one of the amounts of the second form of payment dispensed. - View Dependent Claims (23, 24)
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25. A method on an information processing unit running as a financial server, the financial server coupled to a network connecting one or more automatic currency processors, the method for determining a transaction fee to convert a first form of payment to a second form of payment, where the transaction fee is charged for the conversion, the method comprising the steps of:
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receiving a notification of a first form of payment received at an automatic currency processor, the first form of payment selected from a group of currency consisting of currency consisting of coins, notes, receipts, passive cards, and active cards;
receiving a notification of a second form of payment dispensed at an automatic currency processor, the second type of payment selected from a group of tokens consisting of coins, notes, receipts, passive cards, and active cards;
calculating a transaction fee based upon one or more of the following;
at least one of the first form of currency received;
at least one of the amounts of the first form of currency received;
at least one of the second form of token dispensed;
at least one of the amounts of the second form of token dispensed;
at least one type of subsequent purchase made using the second form of money; and
at least one of the amounts of the second form of token used to make a subsequent purchase. - View Dependent Claims (26, 27, 28)
discounting the transaction fee based upon a place where token is redeemed for subsequent purchase of a good or service.
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28. The method according to claim 27, wherein the step of calculating a transaction fee includes the sub-step of:
discounting the transaction fee based upon a time period where token is redeemed for subsequent purchase of a good or service.
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29. An automatic currency processor comprising:
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a receiver for receiving currency of various denominations and values; and
a controller for assessing a variable rate transaction fee in response to the denomination of the currency;
a coin receiver for receiving currency of various coin denominations and values; and
a note receiver for receiving currency of various note denominations, wherein the controller assesses a first fee received by the coin receiver and assesses a second fee received by the note receiver. - View Dependent Claims (30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40)
a token dispenser for providing a token having an identification signal at least partially indicative of the transaction.
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31. The automatic currency processor according to claim 30, wherein the token corresponds to printed paper having the identification signal.
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32. The automatic currency processor according to claim 30, wherein the controller further mathematically alters the amount of the total deposit calculated based upon a the sum of a first value and a second value and subtracting the first fee and the second fee and a type of the token provided.
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33. The automatic currency processor according to claim 30, further comprising
a communication interface for electronically transferring the total deposit to a financial server external to the automatic currency processor. -
34. The automatic currency processor according to claim 33, wherein the token corresponds to a passive card having a magnetic stripe having the identification signal.
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35. The automatic currency processor according to claim 34, wherein the automatic currency processor further comprises
a passive card reader for reading the magnetic stripe of a pre-existing passive card and determining the identification signal in response thereto, wherein the pre-existing passive card corresponds to the passive card having the identification signal. -
36. The automatic currency processor according to claim 35, wherein the token is an active card having the identification signal and at least a portion of the financial server is included within the active card.
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37. The automatic currency processor according to claim 35, wherein the controller further mathematically alters the amount of a total deposit calculated based upon the amount of the type of token provided.
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38. The automatic currency processor according to claim 35, wherein the controller further mathematically alters the amount of total deposit calculated based upon whether a new token is dispensed or a user'"'"'s preexisting token is recharged.
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39. The automatic currency processor according to claim 34, further comprising:
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a mode selector for selecting either a token dispensing mode or a coin dispensing mode; and
a coin dispenser for dispensing coins wherein the controller causes the coin dispenser to dispense a plurality of metallic coins having a total value equivalent to a note value received by the note receiver in response to the coin dispensing mode being selected and further wherein no transaction fee is assessed in response to the coin dispensing mode being selected.
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40. The automatic currency processor according to claim 39, wherein the coin dispenser dispenses coins received by the coin receiver thereby receiving coins and assessing a transaction fee while dispensing the coins without assessing a transaction fee, allowing retention of the assessed transaction fees even though coins are no longer retained by the automatic currency processor.
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41. A computer readable medium containing programming instructions for processing currency of various denominations and corresponding values, the programming instructions comprising:
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receiving currency of a first denomination with a first value at an automatic currency processor;
assessing a first fee in response to the first denomination;
receiving currency of a second denomination with a second value at the automatic currency processor; and
assessing a second fee different from the first fee in response to the second denomination. - View Dependent Claims (42, 43, 44, 45)
determining a total deposit for a first transaction by adding the first value with the second value and then subtracting the first fee added with the second fee.
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46. A computer readable medium containing programming instructions for determining a transaction fee to convert a first form of payment deposited to second form of payment dispensed, where the transaction fee is charged for the conversion, the programming instructions comprising:
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receiving a first form of payment deposited from a group of currency consisting of coins, notes, receipts, passive cards, and active cards;
dispensing a second form of payment dispensed from a group of tokens consisting of coins, notes, receipts, passive cards, and active cards;
calculating a transaction fee based upon one or more of the following;
at least one of the first form of payment received;
at least one of the amounts of the first form of payment received;
at least one of the second form of payment dispensed; and
at least one of the amounts of the second form of payment dispensed. - View Dependent Claims (47, 48)
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Specification