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1499 results about "Point of sale" patented technology

The point of sale (POS) or point of purchase (POP) is the time and place where a retail transaction is completed. At the point of sale, the merchant calculates the amount owed by the customer, indicates that amount, may prepare an invoice for the customer (which may be a cash register printout), and indicates the options for the customer to make payment. It is also the point at which a customer makes a payment to the merchant in exchange for goods or after provision of a service. After receiving payment, the merchant may issue a receipt for the transaction, which is usually printed but can also be dispensed with or sent electronically.

Integrated pharmaceutical accounts management system and method

<heading lvl="0">Abstract of Disclosure</heading> An integrated suite of services for consumers, service providers and manufacturers in the pharmaceutical industry is disclosed. The present invention utilizes one or more of the NCPDP standard formats and adopts the switch for an integrated system of, for example, instant adjudication of prescriptions, consumer data warehousing and/or incentive rewards for the consumer. A participating consumer with one card, can instantly purchase pharmaceuticals and charge the transaction to a credit card and earn and apply savings dollars redeemable for pharmaceutical purchases. For a participating service provider, instant adjudication and instant validation of consumer eligibility can be performed. Moreover, a service provider may receive messages related to the patient's medications. Significantly, data is recorded for consumers even when consumers make the pharmaceutical purchase with cash. The system includes a unique card issued to participating consumers. The card is adapted to encode conventional credit or debit card information specific to the participating consumer so that the consumer can consummate a transaction for the purchase of pharmaceuticals without possession of an additional credit card. The system further includes a host processor coupled to the point of sale at the service provider through a leased line or public switch network or the like. When a customer performs a pharmaceutical transaction at the point of sale of the service provider, the host processor coordinates any benefits and data with other prescription benefit management systems through messages transmitted and received from any primary or secondary carrier systems. The host processor further is adapted to facilitate real-time adjudication of claims and checks for any dangerous drug-to-drug interactions. The host processor additionally facilitates any financial processing including the accumulation and redemption of any bonus dollars earned by the consumer. Furthermore, since the card used by the consumer can be encoded with credit or debit card information, the host processor determines the desired payment method and performs the actual financial transaction. Even if the transaction at the point of sale is a cash purchase, the consumer may desire to use his unique card for the accrual of bonus dollars. Therefore, data concerning the transaction (i.e., pharmacy number, prescription number, etc.) can be recorded even for transactions conducted with cash.

Method and system for maximizing sales profits by automatic display promotion optimization

The present invention is remotely controlled automatic optimization system for maximizing in-store net profits by customized script-generated clip promotions to thousands of individually networked retail display-nodes from central server (OptiRetailChain). The computer-based and machine-learning display system includes: an advertising optimization function for display nodes, point of sale (POS) data input, retail database mining engine (RDME), client access and management control module, and in-store networked electronic clip display apparatus. The optimization function obtains data from chain-store database, combines product bundling data, which describe the associative relationships of various product sales in stores with recorded times of sale, inventory costs, margin profits etc. Physical location of purchased products on the store floor-areas are correlated with relevant display-nodes to create optimal clip display program (playlist) configurations for that specific display location and time. Most preferred product advertising combinations will be displayed in the best time slots for each node automatically. OptiRetailChain uses two methods of promotion optimization: real time scheduling and longer-term statistical optimization. Utilizing the machine learning capabilities, actual video-clip playlists will be dynamically updated for every display-node and respond to daily sales fluctuations for that store display location. This enables the optimization system to effectively control and automatically feature target advertising to large number of display-nodes in supermarket chain networks optimizing advertising capital without necessitating outside intervention.

Consumer-directed financial transfers using automated clearinghouse networks

Consumer directed transfers of funds over the Internet are provided by a combination of systems and networks, including the Internet, email, and the Automated Clearinghouse system (ACH). A host system provided by a funds transfer service manages requests of senders to transfer funds and further manages responses of receivers to claim funds. The host system allows the sender to initiate the funds transfer by specifying the amount of the transfer and information for contacting the receiver, without the need to specify the account of the receiver for receiving the funds. Instead, the host system contacts the receiver and informs the receiver of the available funds; the receiver can then provide the necessary target account information for completing the funds transfer. The ACH is used to effect the transfer of funds, with the host system providing instructions for ACH entries to its financial institution using account information separately received from the sender and receiver. The credit risk associated with originating ACH entries is reduced by use of the Point of Sale system to verify sufficient funds in the sender's account by comparing the closing balance of the day the funds transfer is requested with the transfer amount. Sender fraud is reduced by comparing a sender provided balance (or check number/amounts) with an account balance acquired through automated means such as the POS system or ATM network.

Supply chain demand forecasting and planning

Disclosed herein are systems and methods for demand forecasting that enable multiple-scenario comparisons and analyses by letting users create forecasts from multiple history streams (for example, shipments data, point-of-sale data, customer order data, return data, etc.) with various alternative forecast algorithm theories. The multiple model framework of the present invention enables users to compare statistical algorithms paired with various history streams (collectively referred to as “models”) so as to run various simulations and evaluate which model will provide the best forecast for a particular product in a given market. Once the user has decided upon which model it will use, it can publish forecast information provided by that model for use by its organization (such as by a downstream supply planning program). Embodiments of the present invention provide a system and method whereby appropriate demand responses can be dynamically forecasted whenever given events occur, such as when a competitor lowers the price on a particular product (such as for a promotion), or when the user's company is launching new sales and marketing campaigns. Preferred embodiments of the present invention use an automatic tuning feature to assist users in determining optimal parameter settings for a given forecasting algorithm to produce the best possible forecasting model.

Cashless payment system

InactiveUS20050015332A1Without any loss of transaction processing flexibilityWidespread acceptanceFinanceBuying/selling/leasing transactionsComputer networkEngineering
A payment system that does not rely on credit or debit cards, does not require the merchant and purchaser to have compatible memberships to complete a transaction, and does not limit single transactions to a single account provides a wide range of flexibility permitting debit, credit, pre-paid and payroll cards to be accommodated in a seamless and invisible manner to the electronic transaction network. The transaction may be verified and approved at the point-of-sale whether or not the merchant is a member of a specific financial transaction system. Specifically, the point-of-sale transaction system permits an identified customer to use any of a variety of payment options to complete the transaction without requiring the merchant to pre-approve the type of payment selected by the customer. In one configuration, and in order to take advantage of the widespread use of the ATM/POS network, the invention uses a typical credit/debit card format to provide the identifying information in a stored value card. When a transaction is to be completed, the user enters the identifying information carried on the card at the point-of-sale. This can be a merchant or other service provider at a retail establishment, or on-line while the user is logged onto a web site, or other location. The information can be swiped by a card reader, or manually entered via a keyboard or other input device. The system supports a wide range of flexibility, permitting issuing systems such as parents and state welfare agencies to restrict the types of authorized uses, and permitting users to access accounts in a prioritized manner. Further, the accepting merchant is not required to be a member because settlement with the merchant may be made via the Federal Reserve Automatic Clearing House (ACH) system by typical and standard electronic transfer. This permits the merchant to take advantage of the lower ACH transaction fees with even greater convenience and flexibility than the current ATM/POS system. The system supports numerous types of identification methods from typical credit card structures with magnetic data strips to various biometric systems such as finger prints, facial recognition and the like. Specifically, once the user is identified, the transaction is managed by his membership data on record with the transaction processing system.
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