Financial transaction systems and methods utilizing a multi-read

Details Financial transaction systems and methods utilizing a multi-read Financial transaction systems and methods utilizing a multi-read

1994-06-16

1995-08-22

McElheny, Jr., Donald E.

Boots, shoes, and leggings

G06F 1760

Patent

active

054446163

ABSTRACT:
A multi-reader terminal including a magnetic stripe reader, an embossed character reader, and a magnetic ink character recognition (MICR) check reader, in an integrated stand-alone unit. The terminal is operative for gathering credit card or check information required for customer transactions at the point of sale. The terminal provides a single card passageway for receiving a credit card having a magnetic stripe and embossed characters. The magnetic stripe reader and embossed character reader read the credit card as it travels in the passageway. The embossed character reader may be selectively retracted from the card passageway. The terminal includes a plurality of serial communications ports that allow the terminal to be connected in series between a host computer and an electronic cash register. The serial ports allow connection of a signature capture pad, a personal identification number (PIN) pad, and other serial devices. The terminal is operative to intercept and respond to serial data, or to reroute serial data between any of the serial ports. The terminal is especially suitable for use in a system wherein chargeback protection is to be afforded to certain transactions in the event that information from the embossing, magnetic stripe, or MICR reader are combined with other transaction information and forwarded electronically to a transaction processor or guarantor.

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