Check Deposit via POS Terminal and Gateway Routing
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Solution Overview
Problem
Consumers with bank accounts face inconvenience in depositing funds due to the limited availability of bank branches, especially for internet/online banks, community banks, and regional banks, as they often need to visit physical locations for direct debit card deposits.
Innovation Solution
A system and method for depositing checks into bank accounts using a point-of-sale terminal in retail stores, where customers can swipe their bank-issued debit card, and the funds are routed through a gateway vendor server and payment network server for secure deposit into their bank account, eliminating the need for physical bank visits.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If consumers use traditional bank branches for check deposit, then security and reliability are maintained, but convenience and accessibility deteriorate due to limited physical locations
Solution Approach 1:
The patent introduces multiple intermediary components including a point-of-sale terminal, gateway vendor server, and payment network server that mediate between the consumer and the bank. These intermediaries enable check deposit functionality at retail locations without requiring direct bank branch infrastructure, thus improving convenience while distributing system complexity across specialized components.
Solution Approach 2:
The system is segmented into distinct functional components: the point-of-sale terminal for data collection, the gateway vendor server for encryption and initial processing, and the payment network server for routing and final transaction completion. This segmentation allows each component to specialize in specific tasks, improving overall system efficiency and accessibility.
2Loss of time
If consumers visit physical bank branches for deposits, then direct bank access is ensured, but time consumption increases due to travel and waiting
Solution Approach 1:
The system performs preliminary actions by encrypting card data at the point-of-sale terminal and pre-processing check information through the gateway vendor server before final submission to the payment network. This preliminary processing reduces the time required for actual fund deposition and eliminates the need for consumers to visit bank branches during business hours.
Solution Approach 2:
The patent creates a digital copy of the check deposit process that can be executed at any point-of-sale location rather than requiring physical presence at a bank branch. The system captures and processes check images and card data electronically, replicating the bank deposit function in a distributed retail environment.
3Reliability
If card data is transmitted unencrypted for processing, then processing speed is maintained, but security and data protection deteriorate
Solution Approach 1:
The system performs encryption of card data as a preliminary action at the point-of-sale terminal before data leaves the consumer's vicinity. This pre-encryption approach ensures data security is established early in the process, and the encrypted data can be transmitted and processed without requiring additional security measures during transmission.
Solution Approach 2:
Different parts of the system apply different security measures appropriate to their function. The point-of-sale terminal applies encryption to card data, the gateway vendor server maintains encryption while adding authentication layers, and the payment network server handles encrypted data with specialized decryption and routing capabilities. This localized security approach balances protection with processing efficiency.
Data Source
AI summary
Techniques for electronic device access are discussed. In one embodiment, data indicative of a card number associated with a bank-issued debit card is received at a computing device. The debit card is associated with a bank account at a bank that issued the bank-issued debit card. The computing device also receives data related to a check to be deposited into the bank account and routes encrypted data indicative of the card number and the data associated with the check to a gateway vendor server from where it is further routed to a payment network server for deposit of an amount indicated by the data associated with the check into the bank account associated with the card number.