Point of sale purchase system

Details Point of sale purchase system Point of sale purchase system

2011-01-04

2011-01-04

Colbert, Ella (Department: 3694)

Data processing: financial, business practice, management, or co

Automated electrical financial or business practice or...

Finance

Reexamination Certificate

active

07865433

ABSTRACT:
A merchant can extend credit to a customer by establishing an account which allows the account to be paid off, or significantly paid down, on or after the customer's next payday. The payment can be directly extracted from the customer's bank account. The merchant is provided with a merchant system. The merchant system is used to read or recognize a unique customer identifier device, such as a magnetically encoded or bar-coded customer card, or an integrated chip, micro-computer, manually entered PIN etc., which uniquely identifies an account held by the customer. The merchant device communicates the information to a server system which approves the transaction and cooperatively the merchant system and server system generate a transaction instrument that can be signed by the customer.

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