Point of sale payment terminal
View Patent ↗An integrated point of sale terminal for processing multiple payment types including payment by check includes a compact housing, a processor, and memory. The housing has a base shaped to sit on a merchant counter and has a document slot for receiving a check. The processor is disposed in the housing, and the memory is in communication with the processor. The payment terminal is located at the point of sale during use to allow a store merchant to accept multiple payment types. The payment terminal further includes a magnetic ink character recognition device for reading a string of magnetic ink characters on the check. The magnetic ink character recognition device is affixed to the housing at the document slot and is in communication with the processor. Further, the payment terminal includes an imaging device for capturing an image of the check. The imaging device is affixed to the housing at the document slot and is in communication with the processor. The processor is programed to process multiple payment types including processing a checking account transaction when the check is placed in a document slot.
1. A method of electronic check conversion for use with an integrated point of sale payment terminal for processing multiple payment types including payment by check, the payment terminal being located at the point of sale during use to allow a store merchant to accept multiple payment types, the payment terminal including a compact housing having a base shaped to sit on a merchant counter and having a document slot for receiving a check, a processor disposed in the housing, a memory in communication with the processor, a magnetic ink character recognition device for reading a string of magnetic ink characters on the check and affixed to the housing at the document slot and in communication with the processor, and an imaging device for capturing an image of the check and affixed to the housing at the document slot and in communication with the processor, wherein the processor is programmed to process multiple payment types including processing a checking account transaction when the check is placed in the document slot, the method comprising:
sending a check transaction to a host;
accessing a set of eligibility rules at the host;
determining an eligibility status of the transaction for electronic check conversion based on the set of rules; and
processing the transaction as an electronic debit when the status is eligible, and otherwise, processing the transaction as a paper check.
2. An integrated point of sale payment terminal for processing multiple payment types including payment by debit, payment by credit, payment by smart card, and payment by check, the payment terminal being located at the point of sale during use to allow a store merchant to accept multiple payment types, the payment terminal comprising:
a compact housing having a base shaped to sit on a merchant counter and having a first slot for receiving a payment card, a second slot for receiving a consumer check, and a third slot for receiving a smart card;
a processor disposed in the housing;
a random access memory in communication with the processor;
a display on the housing and in communication with the processor:
a keypad on the housing and in communication with the processor;
a magnetic stripe reader affixed to the housing at the first slot and in communication with the processor;
a magnetic ink character recognition device, for reading a string of magnetic ink characters on the check, affixed to the housing at the second slot and in communication with the processor;
an imaging device, for optically reading preprinted information on the check, affixed to the housing at the second slot and in communication with the processor, wherein the processor utilizes both the magnetic ink character recognition device and the imaging device to determine a content of the string;
a smart card reader affixed to the housing at the third slot and in communication with the processor; and
a printing device;
wherein the processor is programmed to process multiple payment types including processing a credit card when the credit card is passed through the first slot and printing a receipt, processing a debit card when the debit card is passed through the first slot and printing a receipt, processing a smart card when a smart card is passed through the third slot and printing a receipt, and further including processing a checking account transaction when a check is placed in the second slot.
3. A method of electronic check conversion for use with an integrated point of sale payment terminal for processing multiple payment types including payment by check, the payment terminal being located at the point of sale during use to allow a store merchant to accept multiple payment types, the payment terminal including a compact housing having a base shaped to sit on a merchant counter and having a document slot for receiving a check, a processor disposed in the housing, a memory in communication with the processor, a magnetic ink character recognition device for reading a string of magnetic ink characters on the check and affixed to the housing at the document slot and in communication with the processor, and an imaging device for capturing an image of the check and affixed to the housing at the document slot and in communication with the processor, wherein the processor is programmed to process multiple payment types including processing a checking account transaction when the check is placed in the document slot, the method comprising:
sending an authorization packet from the payment terminal to a host, the packet including an application version;
if the host determines that a more current application than indicated in the authorization packet is available, sending a response packet including a tag indicating a pick-up time from the host to the payment terminal; and
at the pick-up time, downloading the more current version of the application to the payment terminal from the host.
4. A method of electronic check conversion for use with an integrated point of sale payment terminal for processing multiple payment types including payment by check, the payment terminal being located at the point of sale during use to allow a store merchant to accept multiple payment types, the payment terminal including a compact housing having a base shaped to sit on a merchant counter and having a document slot for receiving a check, a processor disposed in the housing, a memory in communication with the processor, a magnetic ink character recognition device for reading a string of magnetic ink characters on the check and affixed to the housing at the document slot and in communication with the processor, and an imaging device for capturing an image of the check and affixed to the housing at the document slot and in communication with the processor, wherein the processor is programmed to process multiple payment types including processing a checking account transaction when the check is placed in the document slot, the method comprising:
printing a money order for a consumer with the printing device;
capturing an image of the money order with the imaging device; and
sending the image of the money order to a host as a receipt for the money order.