Electronic Fund Transfer Terminal for Gaming Credit Systems
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Solution Overview
Problem
Current electronic fund transfer systems in gaming and amusement facilities are inefficient, requiring patrons to interrupt their gaming experience to access funds, lack secure transaction confirmation, and involve unnecessary cash handling, which increases operational costs and security risks.
Innovation Solution
An electronic fund transfer system using a mobile EFT terminal that allows patrons to securely withdraw funds from their financial accounts and transfer credits to gaming devices, leveraging existing card and ticketing systems to eliminate the need for intermediaries and provide secure, wireless transactions with confirmation receipts.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If patrons use traditional cash or ATM methods to access funds, then they can obtain cash, but they must interrupt their gaming experience and leave the gaming device
Solution Approach 1:
The patent introduces an electronic fund transfer terminal as an intermediary device that enables direct electronic transfers between bank accounts and gaming device credit accounts. This mediator eliminates the need for patrons to physically withdraw cash from ATMs or interrupt gaming to access funds, as the transfer occurs electronically in the background while gaming continues uninterrupted.
2Ease of operation
If facilities use cash handling processes, then patrons can receive cash, but operational costs and security risks increase
Solution Approach 1:
The patent replaces the mechanical cash handling system with an electronic fund transfer system. Instead of physical cash movement through ATMs, cashiers, and bill acceptors, the system uses electronic banking networks to transfer funds directly between financial institutions and gaming device credit accounts, eliminating the need for physical cash infrastructure.
Solution Approach 2:
The patent extracts the cash handling function from the traditional gaming fund transfer process. By removing the intermediate cash step and implementing direct electronic transfers between bank accounts and gaming credit accounts, the system eliminates the need for cash storage, security, and physical handling infrastructure while maintaining the essential function of fund transfer.
3Productivity
If electronic fund transfer systems are implemented, then transaction speed increases, but secure transaction confirmation and evidence of transfer may be compromised
Solution Approach 1:
The patent implements a feedback mechanism where the electronic fund transfer terminal receives and displays transaction confirmation from the banking network. The system provides real-time feedback to patrons confirming successful transfers, and maintains electronic records of all transactions, ensuring both speed and secure confirmation without requiring slow manual verification processes.
Data Source
AI summary
Electronic fund transfer (EFT) systems and methods are disclosed for managing and transferring electronic funds from a patron's financial account to provide credit in physical form. The systems comprise an electronic fund transfer (EFT) terminal, at least one credit system, and a gateway in communication with the EFT terminal, the at least one credit system, and a financial network. The EFT terminal is configured to communicate with the patron's financial account via the gateway and the financial network to electronically transfer funds at the patron's request.