Multi-function transaction processing system

Abstract

A multi-function transaction processing system including a transaction terminal having a data entry facility and a transaction processor, the transaction processor being communicatively associated with a control processor that defines user accounts and issues one or more authorization codes associated with the user account(s) in response to payment authorities provided at the transaction terminal utilizing a payment authority input of the data entry facility. Furthermore, a printer assembly is communicatively associated with the transaction terminal and generates a card assembly, the card assembly including a first portion containing the authorization code thereon, and a second portion including additional promotional materials thereon. The user account as defined by the control assembly, includes a defined value, the authorization code provided being utilized to facilitate a transaction in accordance with that defined value.

Description

CLAIM OF PRIORITY [0001] The present application is a divisional application of previously filed, now pending application having Ser. No. 10 / 120,896 filed on Apr. 11, 2002, which is a continuation-in-part application of previously filed patent application having Ser. No. 09 / 588,917, filed on Jun. 8, 2000 which matured into U.S. Pat. No. 6,651,885 on Nov. 25, 2003, incorporated herein by reference.BACKGROUND OF THE INVENTION [0002] 1. Field of the Invention [0003] The present invention relates to a multi-function transaction processing system which many be disposed at a commercial location in order to complete a variety of commercial transactions, including credit / debit card purchases, while also facilitating one or more alternate, commercially advantageous functions including the issuance of authorization codes for purposes related to pre-paid telephony service, Internet purchases, lottery purchases, and the like. Furthermore, the multi-function transaction processing system provide...

AI Technical Summary

Benefits of technology

[0014] Additionally, the user account defined by the control processor includes a defined value. The defined value is at least partially determined by the payment authority that has been provided at the transaction terminal utilizing the data entry facility. As a result, the authorization code facilitates the subsequent transaction in accordance with that defined value, while the control processor provides necessary confirmations or validations.

Problems solved by technology

Such traditional transaction terminals are, however, limited to providing authorization for a particular purchase in lieu of a cash payment for products or services that are normally offered by the merchant.

As a result, while they are a convenience for the operators of commercial establishments, they do not provide any added commercial advantage to the commercial establishment.

Despite advances in the calling card industry, it is often commercially limiting to provide the physical cards to the commercial or retail establishments for appropriate sale to the consumers.

For example, if sales are slow at a particular location, an inventory of cards will remain unused and unsold, The fact that a finite amount of air time is purchased by the operators of the card requires that the time remain un-used in case a purchase does indeed occur with regard to a pre-printed account.

Conversely, an establishment which makes a large volume of sales may run out of cards and future potential sales will be lost as no cards are available.

Yet another inconvenience associated with traditional pre-printed calling card relates to the need for inventory space to store large volumes of physical cards, naturally resulting in added expense, and the fact that the cards, once printed, cannot be changed if retail identity, rates, etc., change, and provide an actual commodity susceptible to theft or other misappropriation.

Unfortunately, however, such systems are still severely limited, as each card printing terminal is provided with a finite number of access codes to be printed on a finite number of calling cards.

As a result, they do not alleviate the problems associated with outstanding, unsold access codes / pin numbers, or the loss of sales after depletion of an initially defined volume of cards.

Furthermore, such terminals are merely printers which print a number of a cards, and they do not provide any further business enhancing qualities or functions which provide a commercial advantage to the establishment utilizing the terminal, beyond merely the sale of a calling card.

Unfortunately, however, many traditional consumers still have security concerns associated with consummating such electronic transactions, especially if they will be required to transmit credits / debit card information to the merchant.

Moreover, in some circumstances, privacy concerns also restrict a consumer's desire to make certain purchases by traditional means.

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