Automated, classified expenditure data card recording system

Details Automated, classified expenditure data card recording system Automated, classified expenditure data card recording system

1995-06-07

1998-05-05

Kuntz, Curtis

Registers

Coded record sensors

Particular sensor structure

395216, 395235, 235376, 235380, 283904, G06F 1500, G06F 1520, G06K 500, B42D 1500

Patent

active

057489084

ABSTRACT:
This is an expenditure data recording system using a uniquely designed classification binary code (or its equivalent) stored within the point of sale terminal system consisting of a cash register, a credit/debit card reader, and a telecommunications line. In a sales transaction, a credit/debit card passes through this reconfigured point of sale terminal not only to furnish relevant information (date/time, vendor identification, cardholder's name and account number, and transaction amount), but also to classify the expenditure by category via instant telecommunications link upon approval by the credit/debit card issuer (financial institution). Whenever there is a needed classification change at the point of sale terminal, one utilizes a unique set of color, binary-encoded cards to redefine a new expenditure category. Whereupon the credit/debit card issuer can process this classified expenditure sales transaction information to produce a periodic financial report, and remit it to the credit/debit account holder at any time. This entire operational system is virtually transparent to the cardholder and sales personnel.

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