POS Device Currency Control via Digital Scanning and Local Destruction
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Solution Overview
Problem
Traditional point of sale (POS) devices and transaction systems face challenges in effectively ascertaining and controlling physical currency in circulation, particularly due to the burdensome process of removing currency that may have come into contact with infectious diseases or for counterfeiting purposes, and they fail to provide banking functionality to underbanked individuals.
Innovation Solution
Implementing a currency control system that uses a POS device and a currency control server to generate digital currency data from physical currency notes, determine which notes to destroy based on attribute data and user parameters, and provide banking functionality through real-time digital payment processing.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If physical currency is removed from circulation through centralized financial institutions, then currency control and destruction capability is improved, but transportation costs and operational complexity increase significantly
Solution Approach 1:
The patent divides the centralized currency destruction system into distributed POS devices equipped with scanning systems and controllers. Each POS device independently scans, identifies, and destroys suspicious currency notes locally, eliminating the need for centralized collection and transportation while maintaining effective currency control
Solution Approach 2:
The POS devices perform self-service currency verification and destruction functions by automatically scanning currency notes, comparing scanned data against authentic currency databases, and destroying suspicious notes without requiring manual intervention or centralized processing
2Reliability
If physical currency is continuously monitored and controlled, then currency security and disease prevention is improved, but loss of time and operational efficiency deteriorate
Solution Approach 1:
The system performs preliminary scanning and identification of currency notes at the point of sale before transactions are completed. By pre-identifying suspicious notes and preparing destruction commands in advance, the system minimizes disruption to transaction flow while maintaining security
Solution Approach 2:
The patent replaces manual currency inspection and verification processes with automated optical scanning systems and digital image processing. This substitution dramatically reduces the time required for currency verification while improving detection accuracy
3Adaptability or versatility
If traditional POS devices store and reintroduce physical currency into circulation, then banking functionality is provided, but spread of infectious diseases and counterfeiting increase
Solution Approach 1:
The system extracts suspicious currency notes from circulation by identifying them through scanning systems and automatically destroying them at the POS device. This extraction prevents diseased or counterfeit notes from being reintroduced into circulation while maintaining the POS device's banking functionality
Solution Approach 2:
The patent introduces digital imaging and data processing as an intermediary between physical currency handling and banking transactions. The scanning system creates digital representations of currency notes, which are then verified against authentic currency databases, allowing automated verification without physical handling
Data Source
AI summary
Methods, apparatuses, and computer program products are disclosed for currency control. An example point-of-sale (POS) device for use with physical currency notes includes a scanning system configured to generate physical currency data associated with one or more physical currency notes and a controller operably coupled with the scanning system. The controller is configured to generate digital currency data based upon the physical currency data. The digital currency data includes a digital representation of the physical currency notes. The controller further determines one or more selected physical currency notes for destruction based upon the digital currency data and may query a currency attribute database that includes one or more currency attributes associated with the physical currency notes. The POS device also includes a currency destruction mechanism that causes destruction of the selected physical currency notes.