EP0527639A2
Expired / Lapsed
EP
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Home financial transaction system
Assignee: US Order Inc
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Filing: 1992-08-11
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Granted: —
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Expires: 2012-08-11
Abstract
Abstract A Home Financial Transaction System (HFT) is described comprising financial transaction terminals (FTT) with means to read symbolic representations of data which identify merchant/service provider, method of payment, amount of payment and type of transaction to be conducted. The FTT user scans an optical reader means (1) over the symbolic representation on a bill or invoice and stores the information relating to the amount to be paid, method to be paid and related information in the memory (7) of the (FTT). Once all transactions have been stored, the terminal (FTT) communicates with a financial transaction computer system (FTCS) which assembles data from a plurality of terminals (FTT) for subsequent transmission to banks and other financial institutions for clearing house operations. Symbolic representations can be imprinted on bills or invoices or imprinted on separate data sheets which can be scanned by an optical scanning means to input the desired identification data. One enhancement also calls for transaction codes to be symbolically represented and input by the optical scanning means to conduct the desired transaction.
Inventors
- 👤 William F. Gorog
Bibliographic Details
Application Number
—
Jurisdiction
EP
Data Source
google_patents
Last Synchronized
2026-11-01 12:27
CPC Classifications
G; G07; G07F; G07F7/00; G07F7/02; G06; G06Q; G06Q20/00; G06Q20/04; G06Q20/08; G06Q20/12; G06Q20/14; G06Q20/22; G06Q20/24; G06Q20/30; G06Q20/34; G06Q20/341; G06Q20/343; G07F7/08; G07F7/0873; G07F7/088; G07F7/0886; G07F7/10; G07F7/1008
Claims Analysis
Total Claims: 10
Claim 1
Independent Claim
174 words
In a home financial transaction system, a method of paying for products or services, transferring funds, and transmitting account inquiries while remote from a financial institution or merchant/service provider, the method comprising the steps of: inputting merchant/service provider identification information and bill amount information via a financial transaction terminal in order to identify a merchant/service provider and order bill amount, the input unit being located remote from a banking institution or merchant/service provider; storing said merchant/service provider identification information and bill amount information in said financial transaction terminal; inputting user payment/credit information using said financial transaction terminal; storing said payment/credit information in said financial transaction terminal; transmitting the stored merchant/service provider identification information, user payment/credit information, and bill amount information to a financial transaction computer system; and processing the transmitted merchant/service provided identification information, bill amount information, and user payment/credit information from a plurality of said financial transaction terminals in said financial transaction computer system to permit subsequent transmission to banks for electronic transfer of funds and crediting of accounts in a normal fashion.
Claim 2
Dependent Claim
96 words
The method of claim 1 wherein the step of inputting the merchant/service provider identification information and bill amount information comprises the step of scanning an optical reader over symbolic representations on bills, invoices, or data sheets to obtain the merchant/service provider identification information and bill amount information, the step of inputting the merchant/service provider identification information and bill amount information by way of a keypad, or the step of converting speech input from a user of the system into the merchant/service provider identification information and bill amount information through the use of a voice recognition system.
Claim 3
Dependent Claim
53 words
The method of claim 2 wherein the step of inputting the payment/credit information includes the step of reading a magnetic stripe on a credit card, the step of reading the payment/credit information from a microchip imbedded on a credit card, or the step of optically reading the payment/credit information from a credit card.
Claim 4
Dependent Claim
34 words
The method of claim 2 further including the step of generating an audible announcement of the speech input information from a speech synthesizer connected to the input unit to confirm the original input information.
Claim 5
Dependent Claim
99 words
The method of claim 3 wherein the financial transaction terminal transmits the user payment/credit information to a financial transaction computer system for processing, comprising the substeps of: transmitting the user payment/credit information from the financial transaction terminal to the financial transaction computer system together with the merchant/service provider identification information and bill amount information; identifying the financial account routing associated with the merchant/service provider from a data base of such information stored in the financial transaction computer system; and transmitting the user payment/credit information together with the merchant/service provider financial routing to a bank for financial transaction clearing operations;
Claim 6
Dependent Claim
292 words
A home financial transaction system comprising: at least one financial transaction terminal for paying bills from merchant/service providers and for inputting user payment/credit information, the financial transaction terminal being located remote from both the financial institution of the user and the merchant/service provider, said home financial transaction terminal further comprising an input device for reading merchant/service provider identification information and bill payment information identifying the merchant/service provider and the amount of the bill to be paid; a credit card information reader for inputting credit information for a user of said financial transaction terminal; memory capacity, coupled to the input device and the credit card information reader, for storing the merchant/service provider identification information, bill payment information, and user payment/credit information; a communication subsystem, coupled to the memory capacity, for transmitting the store merchant/service provider identification information, bill payment information, and user credit/payment information to a financial transaction computer; and a financial transaction computer coupled to and located remote from the financial transaction terminal, for receiving information transmitted from said financial transaction terminal and for paying bills, the financial transaction computer comprising a communication module for receiving the merchant/service provider identification information and bill payment information and user credit/payment card information from said financial transaction terminal means; an authentication subsystem for verifying that a user is authorized to make the bill payment; financial transaction computer memory for storing the financial routing information relating to merchant/service providers and user information relating to financial transactions conducted and credit card and bank account number of users; payment/credit communication capability for transmitting information between the financial transaction computer and banks for clearing house operations; and capability for paying a bill according to the merchant/service provider identification information and bill payment information via financial institution clearing house operations.
Claim 7
Dependent Claim
54 words
The system of claim 6 wherein the financial transaction terminal includes an input device taken from the group comprising an optical scanner, a UPC reader, a keyboard, a voice recognition system, a display device, a printer, and a voice synthesizer, for inputting merchant/service provider identification information, amount of payment information, and user credit/payment information.
Claim 8
Dependent Claim
32 words
The system of claim 6 wherein the credit card information reader includes an input device taken from the group comprising a magnetic stripe reader, a microchip reader, and a laser optical reader.
Claim 9
Dependent Claim
20 words
The system of claim 6 further comprising an encrypter whereby data sent from the terminal is encrypted prior to transmission.
Claim 10
Dependent Claim
34 words
The system according to claim 7 further comprising data sheets comprising symbolic representations of merchant/service provider identification information and user credit/payment information, which are scanned by said optical scanner of the financial transaction terminal.
References Cited (Backward Citations)
No citation records indexed.
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