U.S. patent application number 11/467583 was filed with the patent office on 2007-03-15 for method and system to create and distribute excess funds from consumer spending transactions.
Invention is credited to Bertram V. Burke.
Application Number | 20070061252 11/467583 |
Document ID | / |
Family ID | 46324584 |
Filed Date | 2007-03-15 |
United States Patent
Application |
20070061252 |
Kind Code |
A1 |
Burke; Bertram V. |
March 15, 2007 |
METHOD AND SYSTEM TO CREATE AND DISTRIBUTE EXCESS FUNDS FROM
CONSUMER SPENDING TRANSACTIONS
Abstract
An improved system for consumer payors to save and donate
whenever they use cash at a point of sale terminal, write a check,
use an ATM machine, or use a credit or debit card. The POS system
is a network composed of subscriber/payors, neutral
merchant/collectors, a central clearinghouse, and provider
accounts. The Rounder system is a network composed of
subscriber/payors, payees, account managers, and provider services.
The systems together provide subscriber/payors with a seamless way
to save/donate every time they spend.
Inventors: |
Burke; Bertram V.; (Sea
Bright, NJ) |
Correspondence
Address: |
Bertram V. Burke, Chairman,;Every Penny Counts, Inc.
1434 SW 51st Lane
Cape Coral
FL
33914
US
|
Family ID: |
46324584 |
Appl. No.: |
11/467583 |
Filed: |
August 28, 2006 |
Related U.S. Patent Documents
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Application
Number |
Filing Date |
Patent Number |
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09611905 |
Jul 7, 2000 |
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11467583 |
Aug 28, 2006 |
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08429758 |
Apr 27, 1995 |
6112191 |
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09611905 |
Jul 7, 2000 |
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08349353 |
Dec 5, 1994 |
5621640 |
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08429758 |
Apr 27, 1995 |
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08018821 |
Feb 18, 1993 |
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08349353 |
Dec 5, 1994 |
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08428401 |
Apr 25, 1995 |
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08429758 |
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Current U.S.
Class: |
705/39 |
Current CPC
Class: |
G06Q 20/023 20130101;
G06Q 20/02 20130101; G06Q 20/10 20130101; G06Q 20/102 20130101 |
Class at
Publication: |
705/039 |
International
Class: |
G06Q 40/00 20060101
G06Q040/00 |
Claims
1. (canceled)
2. (canceled)
3. (canceled)
4. (canceled)
5. (canceled)
6. (canceled)
7. (canceled)
8. (canceled)
9. (canceled)
10. (canceled)
11. (canceled)
12. (canceled)
13. (canceled)
14. (canceled)
15. A computerized method of changing credits in payor accounts
from financial transactions between a payor and a payee, said
method being computerized and comprising the steps of: entering a
tendered amount into a station of a network controlled by the
payee, said amount being greater than any amount due the payee;
subtracting any amount due the payee from at least a portion of the
tendered amount to obtain an additional amount; transmitting the
additional amount to a separate station forming part of a network
controlled by other than the payee and, within the separate station
crediting the additional amount into a payor account.
16. A method as in claim 15, wherein the step of transmitting the
additional amount includes the step of the payee crediting the
additional amount to the payor account in the separate station of
the network, wherein the separate station is in the hands of a
central clearing entity, so that the payee remains neutral to the
additional amount.
17. A method as in claim 16, further comprising the step of
printing out the status of said payor account.
18. A method as in claim 15, wherein said payor account is one of a
plurality of payor accounts, and further comprising assigning
predetermined portions of at least one of said payor accounts into
sub accounts identifying at least one of charities, banks, and
other sub accounts after crediting the payor accounts.
19. A method as in claim 16, wherein said payor account is one of a
plurality of payor accounts, further comprising assigning
predetermined portions of at least one of said payor accounts into
sub accounts identifying at least one of charities, banks, and
other sub accounts, at the time of crediting the payor
accounts.
20. A method as in claim 15, wherein any amount due is zero so that
the additional amount is equal to the tendered amount and the
additional amount is transmitted to the separate station and so
that the payor may add to a payor account without making a payment
to the payee.
21. A method as in claim 15, wherein, in response to data signals
from the separate station, the station controlled by the payee
prints out a receipt for the payor concerning the data in the
current credit or debit transaction and the overall balance in the
payor account.
22. A method as in claim 15, further comprising, in response to
payor data signals, transmitting data in the payor account back to
the station controlled by the payee.
23. A method as in claim 15, further comprising, in response to
payor data signals entered in the payee station, transmitting data
in the payor account back to the station controlled by the
payee.
24. A computerized method of changing credits in payor accounts
from financial transactions between one or more payors and a payee,
said method comprising the steps of: entering into different
stations of a network controlled by the payee and in different
transactions, respective amounts each being greater than an amount
due the payee; for each entry and transaction and station,
subtracting any amount due the payee from at least a portion of the
tendered amount to obtain an additional amount; for each entry and
transaction and station, transmitting any additional amount to a
separate station and, within the separate station crediting the
additional amount into a payor account.
25. A method as in claim 24, wherein the separate station is part
of the network controlled by the payee.
26. A method as in claim 24, further comprising the step of
printing out the status of said payor account.
27. A method as in claim 24, wherein said payor account is one of a
plurality of payor accounts, and further comprising assigning
predetermined portions of at least one of said payor accounts into
sub accounts identifying at least one of charities, banks, and
other sub accounts after crediting the payor accounts.
28. A method as in claim 24, wherein said separate station stores,
in computer code, one or more payor accounts from one or more
payors.
Description
REFERENCE TO CO-PENDING APPLICATIONS
[0001] This application is a Division of my co-pending application
Ser. No. 09/611,905 filed Jul. 7, 2000, which in turn is a
Continuation of my application Ser. No. 08/429,758 filed Apr. 27,
1995 and now U.S. Pat. No. 6,112,191, which in turn is a
Continuation-in-Part of my application Ser. No. 08/349,353 filed
Dec. 5, 1994 and now U.S. Pat. No. 5,621,640, which in turn is a
continuation of my application Ser. No. 08/018,821 filed on Feb.
18, 1993 now abandoned. The aforementioned Ser. No. 08/429,758
filed Apr. 27, 1995 and now U.S. Pat. No. 6,112,191 is also a
continuation-in-part of application Ser. No. 08/428,401 filed Apr.
25, 1995, now abandoned and applicant also claims the benefit of
the latter application.
[0002] The aforementioned application Ser. No. 09/611,905 filed
Jul. 7, 2000 also claims the benefit of application Ser. No.
08/843,424 filed Apr. 15, 1997 now U.S. Pat. No. 6,088,682, which
is also a continuation-in-part of the aforementioned U.S.
application Ser. No. 08/349,353 filed Dec. 5, 1994 now U.S. Pat.
No. 5,621,640, which in turn is a continuation of my application
[1] Ser. No. 08/018,821 filed on Feb. 18, 1993 now abandoned.
FIELD OF THE INVENTION
[0003] The present application relates to improved methods and
systems to create excess funds from traditional consumer spending
transactions using cash, checks, credit or debit card. The excess
funds created are then put aside in special accounts for future
spending.
BACKGROUND OF THE INVENTION
[0004] Presently the methods and systems of creating excess funds
from spending transactions have the following limitations:
[0005] (1.) Now consumers can create excess funds for future
spending by making excess payments and having the excess amount
assigned for future spending under very limited circumstances.
Effectively consumers can tender an excess payment to a payee that
they have an existing account with (e.g. utility and gas companies)
and allow the excess funds to stay with the payee for the payment
of future services or direct the payee to distribute the excess
funds onto an outside provider, such as a charity. Under this
"closed" process the payee provides an active role as to account
management and selection/distribution of the excess funds for
internal purposes, as well as to outside providers. Within this
current arrangement the consumer has very limited opportunities to
create excessive funds, as well as to determine the application of
said funds, since the existing state of the art is a "closed"
system essentially operated by payees with whom they have existing
account relationship.
[0006] (2.) Now consumers can only create excess funds when the
face amount pa id to a payee is in excess of the purchase price. In
addition to the requirement for an excess payment, there is also
the need for the payee to process the transaction by subtracting
the amount of the purchase price from the amount tendered.
Therefore, the payee is now actively involved in managing and/or
distributing the consumers' excess funds.
[0007] An object of the invention is to improve the aforementioned
situation.
SUMMARY OF THE INVENTION
[0008] According to an aspect of the invention, such object is
obtained in a method of accumulating credits in payor surplus
accounts from financial transactions between a payor and a payee,
by entering a demanded amount due the payee, entering an additional
amount offered by the payor, and depositing the additional amount
in the surplus account
[0009] According to another aspect of the invention, the step of
depositing the additional amount includes the payee crediting the
additional amount to the surplus account in the hands of a central
clearing entity, so that the payee remains neutral to the
additional amounts.
[0010] According to yet another aspect of the invention, said step
of entering an additional amount includes calculating the
additional amount from predetermined data associated with the
surplus account.
BRIEF DESCRIPTION OF THE DRAWINGS
[0011] FIG. 1A is a block diagram of the POS system embodying
features of the invention.
[0012] FIG. 1B&C are block diagrams of the Clearinghouse
Managed System embodying features of the invention.
[0013] FIGS. 1D&E are block diagrams of the Provider Managed
System embodying features of the invention.
[0014] FIG. 1F is a block diagram of the Data and Funds Transfer
used in both POS systems embodying features of the invention.
[0015] FIG. 2 is a block diagram of POS system hardware in FIG.
1.
[0016] FIG. 3 are views of transaction cards forming part of the
embodiment in FIG. 1.
[0017] FIGS. 4A&B are flow diagrams of the steps that take
place in FIG. 1B.
[0018] FIG. 5 is another flow diagram of steps that take place in a
computer in FIG. 1C.
[0019] FIG. 6 is a flow diagram of enrollment steps that take place
in a computer in FIG. 1B&C.
[0020] FIG. 7 is a block diagram of the rounder system embodying
features of the invention.
[0021] FIG. 8 is a flow chart of the steps that take place to
enroll subscribers in the rounder system shown in FIG. 7.
[0022] FIG. 9A-E is a flow chart of the data processing methodology
used in the terminals and central computers operated by banks to
process rounder transactions in FIGS. 7A&B.
[0023] FIG. 10A-E is a flow chart of the data processing
methodology used in the terminals and central computers operated by
banks and credit institutions to process rounder transactions in
FIGS. 7A&B.
DETAILED DESCRIPTION OF PREFERRED EMBODIMENTS
[0024] The invention has two main embodiments:
[0025] (1.) In FIG. 1A, an "open" POS network embodies a four level
spending/saving system comprised of Level 1 SP (multiple
subscriber/payors), who tender excess payments or deposit excess
funds to Level 2 MC (multiple merchant/collectors), who in turn
make computer entry of data and funds for electronic transfer to
Level 3 CCC (a singular managed clearinghouse central computer),
who in turn transfers data and funds to Level 4 (multiple provider
accounts), for the final purchase of products or services.
[0026] In FIG. 1A the excess funds are created at point of sale
counters (POS) by the merchant/collectors (MC) who "front end"
process the subscriber/payor (SP) spending transactions to
determine the excess difference between the purchase price of goods
or services and the amount of payment rendered.
[0027] After the amount of excess funds is determined by the MC's
electronic cash register (ECR), the SP makes a deposit into a
clearinghouse central computer (CCC) by providing a transaction
card or an account number to the MC. The MC then swipes the card or
enters the account number through an ECR or a draft capture remote
terminal to record the time, the terminal location, the amount of
funds entered, and the account number used. The terminal or cash
register then prints out a receipt of the depositing transaction
and the MC returns the card and the receipt to the SP.
[0028] The depositing of individual transactions into the MC remote
terminal ca n be completed in an "off-line" or "on-line" or a
combination of both modes. At the completion of a specified period
or amount, e.g. day, week, $50.00, the total off line transaction
file stored in the MC terminal is then batched "on line" to the CCC
(clearinghouse's central computer). The ability to process
individual depositing transactions in an off line mode is made
possible due to the fact that the system does not require on line
authorization, as in credit and debit card processing.
[0029] Each terminal location follows the same reporting procedure
so that the CCC will have a record of all transactions made into
the system, regardless of the location of the terminals. The files
transferred to the CCC contain details of each deposited
transaction by the identification of the account, the amount of the
deposit, the date, and the terminal that accepted the deposit. The
actual transfer of cash into the system starts when the MC deposit
the cash received from the SP into their bank for EFT transfer to
the clearinghouse's bank account and concludes with the CCC EFT
transferring funds to each listed PC (provider account) per the
transaction records received from the merchant terminals. The
transfer of cash from one account to the next is accomplished by
the usual and customary bank EFT transferring through the ACH
(Automatic Clearing House) or via EDI (Electronic Data
Interchange).
[0030] Effectively, the system allows each SP the ability to make
multiple deposits, in varied cross country locations, into
terminals operated by unrelated parties, depositing as little as a
penny in any one transaction, and often on a 24 hour demand
basis.
[0031] The MC that operate the ECR terminals are at the time of
depositing both neutral and passive as to the selection of the
consumer's provider(s), as well as not directing the distribution
of funds to the consumer's provider(s). Only in this system are SP
able to deposit their excess change created when dealing with
multiple and diverse payees. The money is deposited into an "open"
network that will pool and then transfer the once fragmented funds
onto PA selected by the SP. In this system as compared to the
existing state of art, the PA who will receive the deposited funds
from the network need not also be the original collector of the
deposits. Therefore, we have a "open" system that allows for a mix
and match of diverse collectors and providers.
[0032] Under the system it is possible for one entity to provide
both a collect or and provider role, but under different and
autonomous points in the network cycle. For example, Sears may
enroll a subscriber consumer in a Sears store account allowing the
consumer to use their Sears issued mag stripe card to identify them
when they deposit excess change into any merchant/collector
terminal. In this capacity Sears is playing the role of a distinct
provider in the network. The card may then be used to deposit
excess funds at fast food restaurants, convenience stores, other
department stores, etc. Also the SP could go into any Sears store
and deposit excess funds into a Sears terminal for transfer to the
network. On these occasions Sears would be playing a distinct role
as a participating MC, within the network, and follow the same
procedures as any other MC, as well as also being a PA at the end
of the network chain.
[0033] In FIGS. 1B&C, the Clearinghouse Managed System (CMS)
starts with Level 1, the subscriber/payors, tendering an excess
financial payment to Level 2, merchant/collectors. They in turn
enter the amount of the excess payment into an electronic cash
register/remote terminals which then sends the funds and data
on-line per transaction, or along with other deposits in a batched
format, by a communication system to Level 3, clearinghouse central
computer. Level 3 assigns the funds to an account previously opened
by Level 1 SP through services provided by Level 3. The funds are
then forwarded, when they reach pre-selected thresholds, by EDI
(Electronic Data Interface) transfer to Level 4, the provider
accounts, selected by Level 1 SP.
[0034] The Clearinghouse Managed System (CMS), has the network
providing a more active role by the system's central computer
enrolling the SP in accounts and then assuming the role of an
account manager. Under this arrangement the network will direct the
overall operation of the system, issue transaction cards (bar code,
mag stripe and/or "smart" cards or devices), operate the system's
central computer, provide both on-line and off-line communications
between the POS terminals and the central computer, accept funds,
assume fiscal responsibility for the SP funds on deposit, maintain
all account records, provide all outside payments to parties
selected by the SP, and even allow the SP the ability to access
their accounts for the purpose of receiving credit at the time of
POS purchase to pay the MC. Under the CMS, in addition to the
network serving as an account manager, it will also appoint banks,
credit card institutions, and merchant/collectors to assume
additional fiduciary responsibilities.
[0035] In FIGS. 1D&E, the Provider Managed System (PMS) starts
with Level 1, the subscriber/payors, tendering an excess financial
payment to Level 2, merchant/collectors. They in turn enter the
amount of the excess payment into an electronic cash
register/remote terminals which then preferably send the funds and
data, along with other deposits in a batched format, by a
communication system to Level 3, clearinghouse central computer.
Level 3 then segregates the transactions per provider accounts. The
data and funds are then forwarded, when they reach pre-selected
thresholds, by EDI (Electronic Data Interface) transfer to the
Level 4 providers for account management and final distribution.
Level 1 SP initially join the network by enrolling in accounts with
Level 4 providers.
[0036] The Provider Managed System (PMS), is an "open" system that
creates a network whereupon SP will directly enroll in accounts
managed by PA, receive mag stripe cards issued by the PA, and
deposit their excess change at POS locations to be transferred by
the MC to a neutral network clearinghouse (CCC). Under the PMS, the
CCC will accept and process the transaction data and funds and
forward both to the PA according to the card identification. The PA
will then manage the accounts per the SP instructions. In the PMS
scenario both the merchant/clearinghouse are passive as to the
opening of accounts and the SP selections of the final distribution
of the funds. Here both the payees and the clearinghouse only
accept deposits and transfer both the cash and transaction records
onto the end PA.
[0037] Also under the PMS embodiment, once the funds are received
by the PA, who can be banks, insurance companies, security firms,
merchandisers, travel agencies, charitable institutions, etc., the
SP will determine how to spend the savings for services and/or
products.
[0038] In FIG. 1F, in both the Clearinghouse Managed System or
Provider Managed System the data transfer is sent via a proprietary
network from Level 2 MC to Level 3. After processing by Level 3
selected data is sent via a proprietary network to Level 4. On the
funds transfer side Level 1 deposits the funds at Level 2 outlets.
Level 2 deposits the funds into the MC's bank account and by EDI
the funds are transferred to Level 3's bank account for final EDI
to Level 4's bank account.
[0039] In FIG. 2, a system embodying the POS invention includes a
clearinghouse central computer (CCC) containing a central processor
CPU and a large data storage DS. A communications system CS that
may include telephone lines, satellites, or cables connects the CCC
to a number of electronic cash registers (ECRx) (where x=1, . . .
M, . . . N) in retail outlets, such as shops, supermarkets,
gasoline stations, department stores, etc. at locations remote from
the central computer. Throughout this specification, the term x,
when appended to the end of a reference character, is equal to 1, .
. . M, . . . N.
[0040] The ECRx cash registers are connected to respective keypads
KPx and card readers CDx. Along with other components together they
constitute a remote terminal RT that is connected to a variety of
central computers.
[0041] In the CMS embodiment of the invention accounts are managed
in the CCC. Money is collected at the ECRx for crediting to the
consumers' ledgers in the accounts of various charities and other
institutions such as banks, debit card issuers, credit card
issuers, etc. The data storage DS contains individual storage for
charity accounts CA and other accounts OA, such as for banks etc.,
all with ledgers for individual consumers.
[0042] In the PMS embodiment of the invention the CCC acts as a
clearinghouse and transfers all data and funds onto the respective
PA for account management and final distribution.
[0043] The CCC communications system CS also connects the CCC to
charity computers CHy and other computer OCz, where y=1 . . . k,
and z=1 . . . j such as bank computers, merchandise computers,
debit account holders, credit card issuers, etc. These charities
and other institutions are the ultimate receivers of the donations
and deposits collected at the electronic cash registers ECRx. The
CCC also includes a default account DA with consumer ledgers to
hold moneys not otherwise allocated.
[0044] The ECRx includes a change display for exhibiting cash
transactions, credit cards, or check purchases. The display
automatically operates to show numbers in question. A card reader
CDx with a keypad KPx allows the SP or clerk to enter the deposit
directly. The keypad KPx permits the SP to change the allocation
for this transaction alone or permanently. The keypad KPx also
allows the SP to reduce the amount deposited so that he can receive
cash change. The terminal RTx or ECRx reports the deposit directly
to the CCC via the communication system CS. The CCC prints out
periodic reports for interested parties on a need-to-know
basis.
[0045] According to the invention, a consumer in a shop,
supermarket, gasoline station, department store, etc. selects the
desired merchandise and brings them to a clerk. The clerk inputs
the price of all items in a ECRx by way of a register keyboard or a
bar code reader and the register totals the price. The consumer
offers the clerk either the exact amount of cash or a sum exceeding
the price. Then the clerk enters that cash and the amount into the
cash register. The ECR subtracts the price from the cash.
[0046] If the consumer gives the clerk the exact price nothing more
need happen. However, if the money offered the clerk exceeds the
price, the consumer may, if he or she wishes, choose to receive the
change or to donate or deposit all or a portion of the change. To
do the latter, he or she enters a card number into the keypad KPx
or enters the card itself into the card reader CDx. The latter
reads the number from a bar code or magnetic stripe on the card.
The consumer can also enter into the keypad how much of the total
change, he or she is to receive, should be credited to various
predetermined accounts in the CCC. The register ECRx reads the
numbers entered into the keyboard or the number entered by way of
the card reader CDx.
[0047] In addition if SP wish to make a direct deposit of funds
into the network, (rather than make a purchase and tender excess
funds), all that is necessary is to enter the amount deposited into
the ECRx and the funds will be transferred to the CCC.
[0048] A transaction card DC1 according to the invention appears in
FIG. 3 with a magnetic stripe MS carrying the donor's number. A
card DC2 in FIG. 3 includes the number in the form of a bar code
BC. In another embodiment of the invention the card may be a smart
card. Also in regard to the use of bar codes, the codes may be
incorporated in the design of a key chain device or displayed on
windshields or car windows to allow the invention to be accessed
under a variety circumstances, i.e., drive through window, toll
booth, etc.
[0049] After receiving the data, the ECR accesses the CCC. The
latter allocates the change, a portion of the change, or the amount
of a direct deposit provided by the SP among various charity
accounts CA and other accounts OA in the CCC. The distributions to
various accounts are preprogrammed commands which the consumer has
previously instructed the CCC to complete. For each deposit or
donation made, the SP receives a printed receipt of the transaction
from the ECRx or RTx.
[0050] If desired, the consumer can choose to deposit only a
fraction of the difference between the cash presented and the
price. The consumer then enters the amount to be deposited and
receives the appropriate cash change.
[0051] According to an embodiment of the invention, with every
transaction, the computer electronically transfers all amounts
allocated to each charity CHy immediately, as soon as the computer
can access the charity computer, or when there is a sufficient
amount of money. In this way the donor is always assured that the
contribution takes effect. Deposits in the other accounts OA may be
sent immediately or held until a sufficient amount is accumulated
to be acceptable by the other institutions.
[0052] An example of the operation of the CMS embodiment appears in
the flow chart of FIGS. 4A&B. This flow chart depicts an
on-line version of the CMS embodiment. The CMS, however, could also
be operated in an off-line mode and the transactions that are
processed by Level 2 MC would then be stored in memory and
transferred in a batched format to Level 3 CCC at periodic
intervals. In FIGS. 4A&B it is assumed that the customer is
purchasing merchandise that may carry bar codes. However, the
invention is also applicable for purchase of services, rentals, or
other valuables.
[0053] In step 104 of FIG. 4A, the clerk enters the prices of the
various pieces of merchandise, either by way of a keyboard (not
shown) or a bar code reader BCRx, into the cash register ECR. In
step 107, the cash register determines the total price. The
customer then gives the clerk the cash to cover or exceed the total
price. While this example refers to cash, the invention is also
applicable to payment by check, credit or debit card. That is, the
customer may wish to have an amount charged to the checking
account, credit or debit card in excess of the price in order to
make donations or distributions according to the invention. For
purposes of this description the word cash is used also to embrace
check, credit or debit card payments.
[0054] In step 110, the clerk then enters the amount of the cash
payment into the ECRx. Under normal circumstances, the cash payment
will equal or exceed the total spending price unless there is
deposit of cash into the system without a purchase. However, the
invention allows the SP to withdraw moneys from a credit balance in
one of the accounts recorded in the CCC. While unlikely, this may
also occur with a credit or debit card sale. Thus, in some
situations, the amount of cash may fall short of the total price.
In step 114 the cash register determines if the amount of cash
exceeds the total price.
[0055] If the answer is yes, the cash exceeds the sale price, the
ECRx determines the amount of change by subtracting the price from
the cash in step 117. If the answer is no, the cash does not exceed
the sale price, the register determines the amount due in step 120.
In step 124, the cash register ECRx asks whether the customer has
and wishes to use a network card. The clerk or customer may respond
by keyboard, or directly by entering the card into the card reader
CDx.
[0056] If the customer does not have or does not wish to use a
network card in response to step 124, the cash register ECRx prints
the transaction in step 127 and in step 130, prompts the clerk to
make change or collect more cash. If the customer does not offer
any needed cash the clerk must abort or otherwise correct the
transaction.
[0057] If the customer wishes to use a network card, the clerk may
enter this information into the register's keyboard, or the
customer may enter the card into the card reader CDx. In step 134,
the ECRx reads the network card. In step 137, the ECRx determines
whether the card is valid. If not, the register ECRx returns to
step 127.
[0058] If the card is valid, the ECR again asks if the cash offered
exceeds the total price in step 140. If not, in step 144, the ECR
prompts the cash register CR display DS to ask if the cash register
should debit the deficient amount from one of the SP cardholder's
accounts. If not, the process returns to step 127.
[0059] If the answer to step 144 is yes, the computer CCC, in step
145, asks the customer to enter his or her personal identification
(PIN) number. In step 146, the CCC determines if the PIN number
matches the card number. If not, the computer returns to step 127.
If yes, it determines if the card contains a sufficient balance to
cover the amount due. If not, the process again returns to step
127. If yes in step 150, the computer withdraws the money from the
card account and credits it to the account of the establishment or
the sponsor SPx as pre-programmed. In step 150 the cash register
ECRx also prints out the transaction.
[0060] If the answer to step 140, namely to the question whether
there is more cash than the price, is yes, step 154 causes the ECR
to display a message asking whether the customer wishes to retain
some of the change due. If yes, the ECR prompts the customer to
enter into the keypad KPx how much he or she wishes to retain or
deposit. In step 157, the cash register ECR indicates to the clerk
to give the appropriate net change and shows the net deposit
amount.
[0061] The process now goes to A in FIG. 4B. If the answer to step
154 is no, the process also continues at point A in FIG. 4B.
[0062] At A, step 204, in FIG. 4B the CCC searches the records to
find the pre-programmed pay out amounts for the particular network
card. The pay out amounts are entered as shown in FIG. 6. In step
207 of FIG. 4B, the CCC starts apportioning the pay out amounts in
the pre-programmed proportions by priorities and amounts. In steps
210 to 227 it enters the selected amounts in the accounts of
various charities, banks, debit card, and vouchers. Normally there
should be no remaining amount. However, such an amount may exist.
Thus in step 230 the CCC asks if there remains any outstanding
amount. If yes, step 234 enters it into a default account selected
by the SP at an earlier time. In step 237, the CCC updates the
accounts both in its own data banks and in the computers CHy and
OCz. The computers CHy and OCz confirm the transactions.
[0063] If the answer to step 230 is no, there are outstanding
amounts, the process goes to step 237 directly. In step 240 the
ECRx prints out the amounts deposited, entered into various
accounts, the prices, the change, etc.
[0064] The CCC and the ECRx then prompt the customer in step 244 to
ask if he or she wishes to change the programming of the various
accounts in the CCC. If yes, the card reader CDx or the CCC
displays the apportionment and the amounts, including balances in
step 247, the consumer then enters the desired changes in step 250,
and the CCC or the card reader makes the changes in step 254. This
ends the transaction in step 257. If the answer to step 244 is no,
the process goes directly to step 257.
[0065] In one embodiment of the invention, the consumer carries out
steps 244 to 254 at a separate time in a separate card reader CDx
and keypad KPx. This prevents the consumer from using these
machines while the clerk serves another customer. In fact, the
establishment may furnish a separate terminal RTx just for this
purpose.
[0066] Prior to listing in the CCC, the invention qualifies each
charity for their tax exempt status, operations, management
activities, litigation, and other pertinent legal and financial
information. The charity must certify to the facts. If the reported
information meets the requirement, the charity qualifies. The CCC
initiates a checking and updating of the qualification facts on a
regular basis. The CCC keeps the qualified charities current on an
ongoing basis.
[0067] The register furnishes the SP with a printed receipt of each
donation for tax purposes and authentication that the charity will
receive the money. In an on line mode the receipt can show the
date, outlet location, serial number, amount donated, total donated
to date, and the current financial results of any specific
campaigns or projects received by the charity overall.
[0068] One embodiment of the invention furnishes other rewards to
the donor. For example, the terminal may play a tune, such as "It's
a Small World" in response to a donation to the United Nations
children's fund. Alternatively, the donor may receive a message
that the last ten cent donation has closed another $100 unit in
donations to this charity and provide a special discount coupon. As
another example the donor may receive a message that the donor's
contribution is being matched by an independent sponsor with a
bonus donation.
[0069] The invention supervises, implements, and coordinates
charitable contributions to benefit all participants in the giving
cycle, including the donors, sponsors, charitable organizations,
Internal Revenue Service, and end recipients. It allows remote
receiving and sending stations, connected to a central processing
station, to accept any denomination of giving from a single penny
to unlimited dollars. Regardless of the size of the donation, it
effectively warrants to all participants that the designated
charity has received the donated funds. It thus supports the
authenticity of each donation. It can offer unlimited access to the
donors concerning their contributions to charities and savings
accounts, the intended use of the funds, and feedback concerning
the total received by the funds.
[0070] The invention effectively leverages the power of mere
pennies into substantial dollars that in turn become available to
charities on a short term collection basis. It rewards and
encourages philanthropic giving and savings to all individuals on
an everyday basis
[0071] An example of the operation of the PMS embodiment appears in
the flow chart of FIGS. 5A&B. In the PMS embodiment, the
opening and closing of accounts is assumed by PA central computers.
This flow chart depicts an off line version of the PMS embodiment
in which transactions are processed at Level 2 MC and then stored
in memory and transferred via a batched format to Level 3 CCC at
periodic intervals. Level 3 would then sort the transactions
according to Level 4 account origination and forward said
transactions to Level 4. The PMS, however, could also be operated
in an on line mode and the transactions would then be processed by
a smart card or on line with a central computer located at Level 3
or 4.
[0072] Referring now to FIGS. 5A&B, there is a flow chart which
illustrates the steps which the PMS processes transactions made
through ECRx at Level 2 MC.
[0073] Beginning at the top, in step 300, the remote terminal at
the POS counter stands ready to receive input and is also scrolling
information messages on how to use the system. In step 302, the
clerk inputs the price of each item into ECRx by a bar code reader
or by keypad.
[0074] In step 304, the terminal computer totals the price of all
of the items.
[0075] In step 306, the clerk enters the amount of payment, on most
occasions cash, into the terminal computer. However, if a check,
debit or credit card is tendered by the SP, any excess payment
effectively becomes cash and is therefore eligible for deposit.
[0076] In step 308, the terminal computer asks if the amount
tendered is more than the total purchase price.
[0077] If no and the number is zero, the terminal computer goes to
step 310 and a receipt is printed out. In step 312 the transaction
would end and the terminal computer returns to step 300 for new
transactions.
[0078] If yes, in step 314 the terminal computer calculates the
difference and displays the value and goes to step 316. In step 316
the terminal computer asks if the consumer wishes to use the
system.
[0079] If the answer is no, in step 318 a receipt is printed out,
and in step 320 the transaction is ended and the terminal computer
returns to step 300.
[0080] If the answer to step 316 is yes, in step 322 the terminal
computer asks if you are a subscriber?
[0081] If the answer is no, step 324 allows a non-subscriber to use
the system by asking the clerk to enter in a generic access code.
On these occasions, most likely, the non-subscriber will be making
a donation for charitable purposes. At this time in step 326, the
non-subscriber will pick from a list of approved charities and the
clerk will key in the selection. In step 328 a receipt will be
printed showing evidence of the contribution. This same receipt
will also provide an audit trail for individuals and or
organizations to confirm that the charitable institutions received
the donation. In step 330 the transaction would end and the
terminal computer returns to step 300.
[0082] Referring now to FIG. 5B if the answer is yes, in step 332
the subscriber or the clerk enters the subscriber's card into the
terminal. The terminal computer reads the card and automatically
records all of the cents in the POS change as a deposit or
contribution. If the subscriber wishes to add in all of the change
(coins and bills) 332A is entered into the computer. If the
subscriber wishes to add in a specified portion of the change, 332B
is prompted into the keypad along with the specified amount, for
example $1.54 out of $2.54 in available change.
[0083] In step 334, the terminal computer asks if the subscriber
wishes to bypass their default instructions for charities and
select a special charity for this transaction.
[0084] In step 336 if the answer is no, the terminal computer
advances to step 340.
[0085] If yes in 334, in step 338 the bypass charity account number
is entered into the terminal computer through the keypad.
[0086] In step 340 the subscriber will receive a receipt showing
their donor contribution.
[0087] In step 342 the terminal computer writes the transaction
into memory. In step 344 the transaction would end and the terminal
computer returns to step 300.
[0088] In step 346, on a programmed time basis, the terminal
computer forwards, by modem, the batch transactions held in memory
to Level 3 CCC.
[0089] In order to enroll in the CMS embodiment, SP would sign up
for accounts with Level 3 CCC. In order to enroll in the PMS
embodiment, SP would sign up for accounts with Level 4 PA.
[0090] FIG. 6 is a flow chart that illustrates the enrollment steps
for a CMS or PMS account which a central computer takes, through
the keypad KPx, to open or revise an SP account. A display DSx on
the keypad KPx or the ECRx allows a central computer to ask the
consumer to perform certain acts. After the party has accessed the
computer, in step 404, it asks whether the consumer has a network
card. If no in step 407, the computer asks the consumer to enter
his or her name or address. In step 408 the computer determines if
all information has been entered. If not, it returns to step 407 to
ask again for the desired information. If yes, the computer
proceeds to step 410 to ask the consumer to choose a personal
identification (PIN) number. In step 414 the computer determines if
the PIN number is acceptable. If not, it returns to step 410 for
another number. If yes, the computer advances to step 417 to assign
a new card number.
[0091] If the answer in step 404 is yes, that the consumer has a
card, the computer proceeds to step 420 to have the customer enter
the card. In step 424 it asks the consumer to enter his or her
pre-selected PIN number. In step 427 it determines whether the
entered PIN number matches the pre-selected PIN number. If not, it
returns to step 424 for a corrected number. The computer allows
this procedure between steps 424 and 427 to occur only three times,
thereafter it aborts the program.
[0092] If the PIN number is correct and thereby qualified, the
computer in step 430 lists all existing accounts and amounts
deposited during any specific time period, such as the calendar
year. The consumer may request any time period. In step 434 it also
lists all accounts with balances. In step 437 it asks the consumer
to list all accounts to be eliminated, if any. In step 440 it asks
the consumer to approve any accounts to be eliminated if any. The
computer then proceeds to step 444 to list all new accounts. Step
444 also receives a prompt from step 417 if the card number is
new.
[0093] In step 447 it determines if the account, in the form of a
charity, merchant, or institution, is in the list of charities or
institutions that have been accepted by the system. If the answer
is no, the computer in step 448 asks if the consumer wishes to have
a temporary account set up for that donee or institution pending
investigation. If yes to step 448, the computer in step 449 sets up
a temporary account, and lists it as qualified pending
investigation. If the answer to 448 is no, the computer goes back
to step 447.
[0094] Once the computer has qualified a donee or institution, it
goes to step 450 to ask if this is the last account the consumer
wishes to add. If not, the process goes back to step 444. If yes,
the computer cancels all prior allocations in step 454 and in step
457 sequentially lists all remaining and new accounts showing the
old allocations where applicable. In step 460 it asks the consumer
to enter a new percentage allocation for each account. As a check,
in step 464, the computer asks if the total percentages exceed
100%. If yes, it returns to step 460 for a new entry. If not, it
proceeds to step 467 to ask if this is the last account. If not, it
goes to step 470 to ask the consumer to go to the next account and
returns to step 460. If yes, the computer goes to step 474 where it
asks if the total percentage is 100%. If not, the computer places
the remaining percentage in a consumer's personal default account
and asks the consumer to select accounts and change allocations in
step 477. The computer in step 480 ends the process and prints out
the results.
[0095] (2.) Referring now to calculating the additional amount by
predetermined data, referred to as the rounder system, FIG. 7A is a
block design that describes the invention's four level rounder
system that will allow consumers to create excess funds when they
make exact payments for services or goods using checks, credit, or
debit drafts.
[0096] In FIG. 7 Level 1 a subscriber (SP) makes an exact payment
using a check, credit or debit card and tenders the draft to a
payee on Level 2 who in turn deposits the draft for customary
authorization, approval, and payment by Level 3 Account Managers
(AM) (as in banks or credit institutions). Under the provisions of
the invention Level 3 AM will now also add or subtract a
predetermined calculation to the face amount of the draft or the
account entry itself for the purpose of creating an excess payment.
The amount of excess payment called a rounder amount is then added
to the face amount of the draft and the total number is then
debited (as in withdrawals or account fees) or added (as in
deposits or interest payments) to the account balance. Level 3 AM
will then manage the funds and make distributions to Provider
Services (PS) Level 4 (as in mutual funds, annuities, etc.). The
rounder system embodiment of the invention creates excess funds
from exact payments and without the cooperation or even awareness
of the payee who accepts payments for the purchase of services or
goods. The system is based on the ability to create excess funds by
applying a determinant to the face amount or number of account
entries, e.g. checks, ATM withdrawals, credit and debit drafts.
[0097] The rounder system versus the POS system occurs in a
different environment and at a different point in the commercial
purchasing cycle. The processing of transactions occurs at the
"back end" of the commercial cycle when check and credit drafts are
debited against their existing account balances. Effectively, the
invention adds (as in withdrawals or account fees) or subtracts (as
in deposits/payments or interest dividends) an amount of excess
funds, e.g. $1, $2.14, $5.01, $10, $0.28, etc., to the face amount
or number of entries and then adjusts the account balance
accordingly. The amount of excess funds are then displayed in the
account and periodically transferred to accounts for provider
services, i.e., mutual funds, annuities, merchandise, charities,
etc.
[0098] Under this system the SP opens up a new account or updates
an existing account, e.g. checking, credit, or debit account, and
instructs the bank or credit card issuer to add or subtract a
determinant to each transaction after they are returned to the bank
or credit issuer for final debiting against the consumer's
account.
[0099] The excess funds that are created by the rounder system can
be held internally by the bank or credit institution or assigned to
other providers for the purchase of mutual funds, annuities, bonds,
travel services, merchandise, etc.
[0100] When consumers use the above described improved methods to
create excess funds from spending transactions in a combined form,
they will have achieved the ability to save every time they spend,
regardless of whether they use cash, write a check, use an ATM
machine, use a credit or debit card.
[0101] Referring now to FIG. 8, there is a flow chart which
illustrates the steps which central computers take, through a
keypad and display, to open or revise a rounder account. The
subscriber/subscriber's account instructions will then be applied
by the institutions' central computers (CC) to create the excess
funds.
[0102] In step 500 the CC asks the consumer if you have a rounder
account.
[0103] If no, in step 502 the CC asks the consumer to enter his or
her name, address, social security number, select a pin number, as
well as any other vital information needed to open an account.
[0104] In step 504 the CC determines if all the needed information
has been entered. If not, it returns to step 502 to ask again for
the desired information.
[0105] If yes, the CC proceeds to step 506 to input the consumer's
PIN number or code name. In step 508 the CC determines if the PIN
number is acceptable. If not, it returns to step 506 for another
number.
[0106] If yes, the CC advances to step 510 to assign a rounder
account number. The computer then goes to step 522 to create new
accounts.
[0107] If the answer in step 500 is yes, that the consumer is
already a subscriber, the CC proceeds to step 512 to have the
subscriber enter their rounder account number. In step 514 it asks
the subscriber to enter his or her pre-selected PIN number. In step
516 it determines whether the entered PIN number matches the
pre-selected PIN number for the subscriber number entered. If not,
it returns to step 512 to correct the subscriber number and/or PIN
number. The CC allows this procedure between steps 512 and 516 to
recur only three times, thereafter it aborts the program.
[0108] If the PIN number is correct and thereby qualified, the CC
in step 518 lists the rounder number or percentage that is applied
to each account entry ($1, $3, 2%, etc.), stop orders (when to stop
processing rounder transactions), the vehicles used for processing
and depositing, e.g., checking accounts & ATM terminals, debit
card use, and credit card use, names and addresses of all
sub-accounts (savings, investing, and charitable choices), and the
percentage of the rounder transaction assigned to each sub-account
for a cumulative total of 100%. In step 520 it asks the subscriber
to list all accounts to be eliminated or modified, if any.
[0109] In step 522 the CC asks the subscriber if there are any new
accounts to add.
[0110] If the answer is no, the computer goes to step 526 to write
an updated rounder account file. If yes, the CC then proceeds to
step 524, and asks the subscriber to enter any new accounts
according to the rounder number or percentage that is applied to
each account entry ($1, $3, 2%, etc.), stop orders (when to stop
future processing), the vehicles used for processing and
depositing, (e.g., checking accounts & ATM terminals, debit
card use, and credit card use), names and addresses of all
sub-accounts (savings, investing, and/or three charitable choices),
and the percentage of the rounder transaction assigned to each
sub-account for a cumulative total of 100%.
[0111] In step 526 the computer writes a file, called the rounder
account file, containing the new or revised subscriber's
identification information and account instructions.
[0112] In step 528 the process ends and the computer returns to
step 500.
[0113] The following information will provide clarity for the steps
that will be detailed in FIG. 9A-E and FIG. 10A-E.
[0114] The face or entry amount means the actual amount of the
check/ATM withdrawal or credit/debit card charges prior to any
rounder activity.
[0115] The rounder transaction is the numerical function applied
against the face amount or the entry itself, i.e., $1.00, $3.00,
2%, or a specific number $1.50 to create excess funds. In the
preferred embodiment this will be a whole dollar amount such as
$1.00, $5.00, $10.00, etc. added to the entry.
[0116] The coin amount is the presence of coins in the face amount,
i.e. check for $10.14.
[0117] The rounder amount is the amount of excess funds produced by
applying the rounder transaction to the entry minus the coin
amount, i.e. $10.14 using a $1.00 rounder will produce $0.86 as the
rounder amount of excess funds.
[0118] The total withdrawal will be the rounder amount plus the
entry amount which will be debited against the checking account or
credit card balance to determine the new account balance.
[0119] Referring now to FIG. 9A-E, there is a flow chart which
illustrates the steps which bank central computers take, through a
keypad and display, to collect funds, manage funds internally and
to disburse funds.
[0120] Beginning at the top of FIG. 9A the bank first transmits to
the CC, assigned to the clearing and reconciling of checking
accounts, all transactional information and directions for rounder
account processing.
[0121] In step 600 the checking account transaction is read. The
transaction can be a check draft, an ATM withdrawal, checking
account fee, an interest payment, etc.
[0122] In step 605 the computer gets the checking account
balance.
[0123] In step 610 the computer asks, Is this account a rounder
account subscriber?
[0124] If the answer is yes, in step 620 the transactions are
processed according to rounder transaction instructions.
[0125] If the answer is no, in step 740 the transactions are
processed without the rounder transaction instructions (See FIG.
4E).
[0126] In step 747 basic account balances are updated.
[0127] In step 750 the computer writes processed transactions to
file.
[0128] In step 755 the computer reads next checking
transaction.
[0129] In step 760 the computer asks, Is this the end of the file?
If the answer is yes, computer goes to step 765. If the answer is
no, computer goes to step 600.
[0130] In step 765 the computer sorts all transactions.
[0131] In step 770 the computer apportions rounder account
contributions per account instructions contained in step 526, the
rounder account file.
[0132] In step 775 the computer transfers out the charity
contributions, savings, investments, and other accounts.
[0133] The computer processing required to create rounder account
contributions is detailed in FIG. 9B. Starting at the top, in step
622 the computer asks, Is this transaction a debit or
withdrawal?
[0134] If the answer is no, computer goes to step 634. If the
answer is yes, computer asks in step 624, In the transaction are
the cents greater than zero cents?
[0135] The following will assume the application of a $1.00 rounder
transaction.
[0136] If the answer is no, in step 628 the rounder transaction
would equal the rounder amount. For example if the rounder
transaction is $1.00, to be added to the entry amount of a $10.00
withdrawal, the rounder amount of $1.00 will be created as excess
funds for the rounder account and the total withdrawal will be
$11.00.
[0137] If the answer is yes, in step 626 the cents in the purchase
price will be subtracted from the rounder transaction and the net
difference will become the rounder amount which will then be
deposited into the rounder account. For example if the purchase
price was $10.14 cents and $1.00 was the rounder transaction $0.14
would be subtracted from the $1.00 and the net of $0.86 would be
the rounder amount which would then be deposited into the rounder
account. The total withdrawal would still be $11.00.
[0138] In step 630 the rounder amount and the entry amount are
added together to determine the total withdrawal.
[0139] In step 632 the total withdrawal is then subtracted from the
existing balance to determine the new balance.
[0140] The detailed computer processing required to create rounder
account contributions is continued in FIG. 9C in regard to deposits
or fee income.
[0141] In the processing of deposits or interest into accounts we
reverse the process and decrement the amount of money going into
the checking account so that we can create excess funds. Therefore,
we can apply similar rules, as previously discussed, when the
invention dealt with account withdrawals, but only in a
decrementing fashion.
[0142] In the preferred embodiment we will decrement deposits and
interest payments only to eliminate coin amounts.
[0143] Starting at the top, in step 634 the computer asks, Is this
transaction a deposit or interest fee?
[0144] If the answer is no, the computer goes to step 648.
[0145] If the answer is yes, the computer asks in step 638, In the
transaction are the cents greater than zero cents?
[0146] If the answer is no, in step 640 the rounder account
contribution equals zero since there are no coins in the entry
amount of the deposit. The program then goes to step 644.
[0147] If the answer is yes, in step 642 the cents are subtracted
from the face amount and the coins become rounder contributions.
For example, if the deposit was for $10.14 the rounder would take
off the $0.14 and the net deposit would be for $10.00.
[0148] In step 644 the rounder amount is subtracted from the face
amount to determine the total deposit.
[0149] In step 646 the total deposit is then added to the existing
balance to determine the new balance.
[0150] The ability for the invention to remove coins from checking
account deposits will allow for easier balancing of checking
accounts.
[0151] The detailed computer processing required to create rounder
amounts is continued in FIG. 9D when the transaction is a fee.
[0152] The rules applied here are the same as in processing
withdrawals. But again for the preferred embodiment, which will
follow, the process will only be applied to the presence of coin
amounts in fee charges.
[0153] Starting at the top, in step 648 the computer asks, Is this
a fee?
[0154] If the answer is no, the computer goes to step 662.
[0155] If the answer is yes, the computer asks in step 650, In the
transaction are the cents greater than zero cents?
[0156] If the answer is no, in step 652 the rounder account
contribution equals zero since there are no coins in the face
amount of the fee. The program then goes to step 656.
[0157] If the answer is yes, in step 654 the cents are added to the
face amount and the coins become the rounder amount. For example,
if the fee was for $10.14 a one dollar rounder add another $0.86
and the net withdrawal would be for $11.00.
[0158] In step 656 the rounder amount is added to the face amount
to determine the total withdrawal.
[0159] In step 660 the total withdrawal is then subtracted from the
existing balance to determine the new balance.
[0160] The ability for the invention to remove coins from checking
account fees will allow for easier balancing of checking
accounts.
[0161] The computer steps required to process non-rounder account
transactions are detailed in FIG. 9E. Starting at the top, in step
741 the computer asks, Is this transaction a debit, withdrawal, or
fee?
[0162] If the answer is yes, in step 742, the checking account
balance is determined by subtracting the transaction amount from
the account balance.
[0163] If the answer is no, computer goes to step 743 and asks, Is
this transaction a deposit or interest?
[0164] If the answer is yes, in step 744 the checking account
balance is determined by subtracting the transaction amount from
the account balance.
[0165] If the answer is no, the computer in step 745 displays error
message.
[0166] Referring now to FIG. 10A-E, there is a flow chart which
illustrates the steps which card issuers central computers take,
through a keypad and display, to collect funds, manage funds
internally and to disburse funds.
[0167] Beginning at the top of FIG. 10A, the card issuers first
transmit to the CC used in clearing and reconciling debit and
credit card accounts all transactional information of the
subscribers who round up or down their debit/credit card
transactions. This information has been obtained, see FIG. 8,
through the enrollment process.
[0168] In step 800 the debit/credit account transaction is read.
The transaction can be a debit/credit charge processed through a
POS terminal, filled in by hand, called in over the telephone,
etc.
[0169] In step 805 the computer gets the cardholder's account
balance.
[0170] In step 810 the computer asks, Is this account a rounder
account subscriber?
[0171] If the answer is yes, in step 820 the transactions are
processed according to rounder instructions.
[0172] If the answer is no, in step 920 the transactions are
processed without the rounder instructions.
[0173] In step 930 the account balances are updated.
[0174] In step 940 the computer writes processed transaction to
file.
[0175] In step 950 the computer reads next debit/credit card
transaction.
[0176] In step 960 the computer asks, Is this the end of the file?
If the answer is yes, computer goes to step 970. If the answer is
no, computer goes to step 800.
[0177] In step 970 the computer sorts all transactions.
[0178] In step 980 the computer apportions rounder account
contributions per account instructions contained in step 526 of the
rounder account file.
[0179] In step 990 the computer transfers out the charity
contributions, savings, investments, and other accounts.
[0180] The computer processing required to create rounder
transaction contributions is detailed in FIG. 10B. Starting at the
top, in step 822 the computer asks, Is this transaction a debit or
credit card charge?
[0181] If the answer is no, the computer goes to step 834. If the
answer is yes, the computer asks in step 824, In the transaction
are the cents greater than zero cents?
[0182] If the answer is no, in step 828 the rounder transaction
would equal the rounder amount. The computer then goes to step 830.
For example, if the rounder transaction is $1.00, to be added to
the entry amount of the credit charge of say $300.00, the rounder
amount of $1.00 will be created as excess funds for the rounder
account and the total charge will be $301.00.
[0183] If the answer is yes, in step 826 the cents in the charged
amount will be subtracted from the rounder transaction and the net
difference will become the rounder amount which will then be
deposited into the rounder account. For example if the credit
charge was $300.14 cents and $1.00 was the rounder transaction
$0.14 would be subtracted from the $1.00 and the net of $0.86 would
be the rounder amount which would then be deposited into the
rounder account. The total charge would still be $301.00 In step
830 the rounder amount and the entry amount are added together to
determine the total charge.
[0184] In step 832 the total withdrawal is then subtracted from the
existing balance to determine the new balance.
[0185] The detailed computer processing required to create rounder
account contributions is continued in FIG. 10C in regard to account
payments or interest dividends. In the processing of payments into
accounts we reverse the process and decrement the amount of money
going into the account so that we can create excess funds.
Therefore we can apply similar rules, as previously discussed when
the invention dealt with account withdrawals, but only in a
decrementing fashion.
[0186] In the preferred embodiment, the invention will only
decrement payments when coins are present.
[0187] Starting at the top, in step 834 the computer asks, Is this
transaction a payment or interest dividend?
[0188] If the answer is no, computer goes to step 848. If the
answer is yes, computer asks in step 838, In the transaction are
the cents greater than zero cents? If the answer is no, in step 840
the rounder account contribution equals zero since there are not
any coins in the entry amount of the deposit. The computer then
goes to step 844.
[0189] If the answer is yes, in step 842 the cents are subtracted
from the entry amount and the coins become rounder contributions.
For example if the payment was for $500.14, the rounder would take
off the $0.14 and the net deposit would be for $500.00.
[0190] In step 844 the rounder amount is subtracted from the entry
amount to determine the total payment. In step 846 the total
withdrawal is then subtracted from the existing balance to
determine the new balance.
[0191] The detailed computer processing required to create rounder
amounts is continued in FIG. 10D when the transaction is a fee.
[0192] The rules applied here are the same as in processing
withdrawals. But again for the preferred embodiment, which will
follow, the process will only be applied to the presence of coin
amounts in fee charges.
[0193] Starting at the top, in step 848 the computer asks, Is this
a fee?
[0194] If the answer is no, computer goes to step 860. If the
answer is yes, computer asks in step 850, In the transaction are
the cents greater than zero cents?
[0195] If the answer is no, in step 852 the rounder account
contribution equals zero since there are not any coins in the face
amount of the fee. The computer then goes to step 856.
[0196] If the answer is yes, in step 854 the cents are added to the
entry amount and the coins become the rounder amount. For example
if the fee was for $10.14 and a one dollar rounder, add another
$0.86 and the net withdrawal would be for $11.00.
[0197] In step 856 the rounder amount is added to the entry amount
to determine the total withdrawal.
[0198] In step 858 the total withdrawal is then subtracted from the
existing balance to determine the new balance.
[0199] The computer steps required to process non-rounder account
transactions are detailed in FIG. 10E. Starting at the top, in step
921 the computer asks, Is this transaction a charge or fee?
[0200] If the answer is yes, in step 922, the credit balance is
determined by subtracting the transaction amount from the account
balance.
[0201] If the answer is no, the computer goes to step 923 and asks,
Is this transaction a payment or interest dividend?
[0202] If the answer is yes, in step 924 the credit account balance
is determined by subtracting the transaction amount from the
account balance.
[0203] If the answer is no, the computer in step 925 displays error
message. The invention provides a unique and presently unavailable
way for consumers to save every time they spend, regardless of
whether they use cash, write a check, use an ATM machine, use a
credit or debit card.
[0204] The invention provides an "open" POS system whereupon
consumers can make excess payments at point of sale counters and
have the excess funds be put in special accounts. The "open" system
for making excess payments will comprise a four level network
utilized in combination with consumers referred to as
subscriber/subscribers (SP), payees referred to as
merchant/collectors (MC), a central computer/clearinghouse/network
(CCC), and provider accounts (PA). The POS system will allow SP the
ability to create excess funds from the overpayment of spending
transactions using cash, check, credit, or debit card, at POS
counters and have said excess overpayments be transferred through a
CCC onto provider accounts selected by said subscriber/subscribers
(SP).
[0205] The invention also provides a four level rounder system (RS)
for subscriber/subscribers to create excess funds from account
entries connected with transactions paid for by check, ATM machine,
credit, or debit card (which can occur at a variety of commercial
points: POS counters, on a person to person basis, by mail, by wire
transfer, by telephone, by computer, etc.). The rounder system
would apply a computerized rounder amount to create excess funds in
which the active cooperation of the payee is not needed and when
the face amount of the payment being tendered is not in excess of
the actual purchase price as the required means to establish the
excess funds.
[0206] While embodiments of the invention have been described in
detail, it will be evident to those skilled in the art that the
invention may be embodied otherwise without departing from its
spirit and scope. Therefore, the following claims are meant to
encompass all alternatives and modifications within the scope and
spirit of the present invention.
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