Financial transaction approval system and method

• US 8,781,907 B2
• Filed: 08/31/2012
• Issued: 07/15/2014
• Est. Priority Date: 09/16/2004
• Status: Active Grant

• Current Assignee: Target Brands Inc. (Target Corporation)
• Original Assignee: Target Brands Inc. (Target Corporation)
• Inventors: Ash, Robert W.
• Primary Examiner(s): CRAWLEY, TALIA F
• Application Number:
  US13/601,102
• Publication Number:
  US 20120330766A1
• Time in Patent Office: 683 Days
• Field of Search: 705/21, 705/17
• US Class Current: 705/21
• 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 20/204 comprising interface for record bearing medium or carrier for electronic funds transfer or payment credit
• CPC Class Codes: G06Q 20/382 insuring higher security of transaction
• 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 20/42 Confirmation, e.g. check or permission by the legal debtor of payment
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G07G 1/00 Cash registers alarm indicators G07G3/00
• CPC Class Codes: G07G 1/0036 Checkout procedures

Abstract

A method of processing a retail transaction includes processing a plurality of items for purchase using a point-of-sale terminal, which is part of a transaction approval system at a point of sale in a retail store. Processing the plurality of items includes using the point-of-sale terminal to determine associated price information for each item. Processing the plurality of items begins when information regarding an identifier of a first one of the plurality of items is entered into the point-of-sale terminal and ends when the information regarding the identifiers associated with all of the plurality of items has been entered into the point-of-sale terminal. The method further includes, before processing the plurality of items ends, electronically receiving an identification of a financial account to pay for the plurality of items, and after electronically receiving the identification of the financial account, determining a total cost of the plurality of items.

Claims

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, wherein the transaction approval system further includes a financial transaction terminal in electrical communication with the point-of-sale terminal, and the financial transaction terminal includes a user interface separate from and facing in a different direction than a user interface of the point-of-sale terminal,

processing the plurality of items for purchase includes using the point-of-sale terminal to determine associated price 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 information regarding 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 ends when information regarding the identifiers associated with all of the plurality of items for purchase has been entered into the point-of-sale terminal and all the associated price information for each item included in the plurality of items for purchase has been determined;

after processing the plurality of items begins and before processing the plurality of items for purchase ends, electronically receiving, via the financial transaction terminal, an identification of a financial account that will be used by a consumer to pay for the plurality of items for purchase;

after processing the plurality of items begins and before processing the plurality of items ends, visually indicating to the consumer via the user interface of the financial transaction terminal that a total cost of the plurality of items for purchase has not yet been determined while simultaneously presenting an opportunity to the consumer via the user interface of the financial transaction terminal to provide approval to charge the total cost, once determined, of all of the plurality of items to the financial account; and

after processing the plurality of items for purchase ends and after electronically receiving the identification of the financial account, determining the total cost of the plurality of items for purchase using the point-of-sale terminal.

2. The method of claim 1, further comprising:

after electronically receiving the identification of the financial account and before processing the plurality of items for purchase ends, providing the consumer with an option to provide approval, via the transaction approval system, to apply payment from the financial account toward the total cost of the plurality of items for purchase.

3. The method of claim 2, further comprising:

after providing the consumer with the option to provide approval and during processing of the plurality of items for purchase, electronically capturing the approval from the consumer using the transaction approval system such that the consumer is free from providing another approval to complete purchase of the plurality of items.

4. The method of claim 3, wherein electronically capturing the approval of the consumer is completed substantially free from assistance from a retail store employee operating the point-of-sale terminal.

5. The method of claim 3, wherein the approval includes a signature of the consumer.

6. The method of claim 1, wherein receiving the identification of the financial account is completed substantially free from assistance from a retail store employee operating the point-of-sale terminal.

7. The method of claim 1, wherein electronically receiving the identification of the financial account occurs while processing the plurality of items for purchase continues to be performed.

8. The method of claim 1, further comprising:

before processing the plurality of items for purchase ends and before electronically receiving the identification of the financial account, using the transaction approval system to visually prompt the consumer to present a transaction card, wherein electronically receiving the identification of the financial account includes receiving the transaction card from the consumer and discerning the identification of the financial account from the transaction card using the transaction approval system.

9. The method of claim 8, wherein:

using the transaction approval system to visually prompt the consumer and receiving the identification of the financial account are each performed at least in part by the financial transaction terminal and entirely by a combination of the point-of-sale terminal and the financial transaction terminal.

10. The method of claim 1, wherein:

receiving the identification of the financial account is completed substantially free from assistance from a retail store employee operating the point-of-sale terminal, and

the method decreases an amount of time the consumer needs to spend at the point of sale in the retail store to complete the retail sales transaction.

11. The method of claim 1, wherein:

the financial transaction terminal includes a reception slot, and

receiving the identification of the financial account includes receiving a financial transaction card from the consumer via the reception slot such that the transaction approval system can determine the identification of the financial account by reading from the financial transaction card.

12. The method of claim 1, further comprising:

completing the retail sales transaction after determining the total cost of the plurality of items for purchase, wherein the consumer is free to take the plurality of items for purchase from the retail store only after completing the retail sales transaction;

wherein the retail sales transaction is completed in a single visit by the consumer to the point of sale in the retail store.

13. The method of claim 1, further comprising:

receiving authorization from a financial institution supporting the financial account that the financial account is sufficiently funded to support the retail sales transaction for the total cost of the plurality of items for purchase; and

charging the total cost of the plurality of items for purchase against the financial account.

20. The method of claim 1, wherein visually indicating to the consumer via the user interface that the total cost of the plurality of items for purchase has not yet been determined includes displaying an empty total cost field on the user interface.

21. The method of claim 20, wherein the user interface of the financial transaction terminal displays the empty total cost field at a same time the user interface displays a signature box for electronically receiving the separate approval to charge the total cost of all of the plurality of items to the financial account.

22. The method of claim 1, after determining the total cost of the plurality of items for purchase, visually indicating the total cost of the plurality of items for purchase to the consumer via the user interface of the financial transaction terminal, wherein the user interface of the financial transaction terminal only visually indicates any cost associated with the plurality of items after the total cost of the plurality of items has been determined.

14. 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:

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;

receiving a financial transaction card from the consumer via the financial transaction terminal, wherein the financial transaction card includes identification of a financial account;

visually indicating to the consumer via the financial transaction terminal that a total price for all of the plurality of goods being purchased by the consumer has not yet been determined while simultaneously presenting an opportunity to the consumer via the financial transaction terminal to provide approval to charge the total price, once determined, for all of the plurality of goods being purchased by the consumer to the financial account;

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.

15. The method of claim 14, further comprising:

using the point-of-sale terminal to determine an identity of a last one of a plurality of goods being purchased by a consumer based on a product code of the last one of the plurality of goods, wherein using the point-of-sale terminal to determine the identity of the last one of the plurality of goods being purchased is performed after receiving the financial transaction card and before determining the total price.

16. The method of claim 14, further comprising receiving, at any time during the method following receiving the financial transaction card, an electronically captured confirmation to charge the total price to the financial account from the consumer, wherein the electronically captured confirmation is received via the financial transaction terminal.

17. The method of claim 14, wherein:

the transaction approval system is located within a retail store, and

the consumer is free to take the goods from the retail store only after charging the total price of all of the plurality of goods to the financial account is substantially completed.

18. The method of claim 14, wherein:

the financial transaction terminal includes a user interface, and

the method further comprises;

after determining the total price of all of the plurality of goods, visually indicating the total price to the consumer via the user interface of the financial transaction terminal.

19. A method of processing a retail sales transaction in a retail store, the method comprising:

processing a plurality of items for purchase using a point-of-sale terminal including identifying and determining associated price information for each item included in the plurality of items for purchase, wherein processing the plurality of items begins by identifying and determining price information for a first one of the plurality of items for purchase using a code on the first one of the plurality of items 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 receiving the financial transaction card and before completing processing the plurality of items for purchase visually indicating to the consumer via the financial transaction terminal that the total price of the plurality of items for purchase has not yet been determined while simultaneously presenting an opportunity to the consumer via the financial transaction terminal to provide approval to charge the total price, once determined, of all of the plurality of items for purchase to the financial account;

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.

23. The method of claim 19, wherein visually indicating to the consumer that the total price of the plurality of items for purchase has not yet been determined includes displaying an empty total cost field via the financial transaction terminal at a same time the financial display terminal displays a signature box for electronically receiving the approval to charge the total price of the plurality of items for purchase.