Methods and systems for interactive check authorizations

Details Methods and systems for interactive check authorizations Methods and systems for interactive check authorizations

1994-12-02

1997-10-21

Hajec, Donald T.

Registers

Systems controlled by data bearing records

Banking systems

235380, G06F 1760

Patent

active

056799381

ABSTRACT:
A check acceptance system provides interactive authorizations and off-line terminal approvals. A merchant uses an interactive transaction terminal to communicate with a check acceptance service's authorization host computer. The terminal includes an electronic check reader and a magnetic stripe reader for reading magnetic stripe drivers licenses. The terminal acquires transaction data associated with a pending check transaction. The transaction data is analyzed to determine whether the transaction can be approved by the terminal. If so, an approval code is generated and a transaction packet including the transaction data and terminal approval code are stored in the terminal until subsequent communication with the host computer. If the pending transaction is not approved by the terminal, the transaction data is transmitted to the host computer. The host computer applies a risk scoring algorithm to the data to determine whether the transaction should be approved, declined, or whether additional information is needed. If the transaction is approved or declined, a response packet including authorization indicia is transmitted to the terminal. If additional data is needed, the host computer transmits prompts to the terminal. The terminal displays the prompts and the merchant enters the requested data into the terminal. A new transaction packet including the original transaction data and the additional requested data is transmitted to the host computer, where it is approved or declined.

REFERENCES:
patent: 4187498 (1980-02-01), Creekmore
patent: 4319336 (1982-03-01), Anderson et al.
patent: 4463250 (1984-07-01), McNeight et al.
patent: 4472626 (1984-09-01), Frid
patent: 4672377 (1987-06-01), Murphy et al.
patent: 4727243 (1988-02-01), Savar
patent: 4734564 (1988-03-01), Boston et al.
patent: 4758714 (1988-07-01), Carlson et al.
patent: 4804825 (1989-02-01), Bitoh
patent: 4810866 (1989-03-01), Lord Jr.
patent: 4812628 (1989-03-01), Boston et al.
patent: 4851994 (1989-07-01), Toda et al.
patent: 4870259 (1989-09-01), Boggan et al.
patent: 4872113 (1989-10-01), Dinerstein
patent: 4943707 (1990-07-01), Boggan
patent: 5023782 (1991-06-01), Lutz et al.
patent: 5053607 (1991-10-01), Carlson et al.
patent: 5060153 (1991-10-01), Nakagawa
patent: 5175682 (1992-12-01), Higashiyama et al.
patent: 5201010 (1993-04-01), Deaton et al.
patent: 5231569 (1993-07-01), Myatt et al.
patent: 5276608 (1994-01-01), Nakagawa et al.
patent: 5307481 (1994-04-01), Shimazaki et al.
patent: 5326960 (1994-07-01), Tannebaum
patent: 5350906 (1994-09-01), Brody et al.
patent: 5384449 (1995-01-01), Peirce
patent: 5386104 (1995-01-01), Sime

Affiliated with

Also associated with

Rating

Methods and systems for interactive check authorizations does not yet have a rating. At this time, there are no reviews or comments for this patent.

If you have personal experience with Methods and systems for interactive check authorizations, we encourage you to share that experience with our LandOfFree.com community. Your opinion is very important and Methods and systems for interactive check authorizations will most certainly appreciate the feedback.

Rate now

Comments { 0 }

Profile ID: LFUS-PAI-O-1008706