ACCOUNT ACCESS AT POINT OF SALE
A user makes a payment at a POS by entering the user's phone number (either through a keypad or via a card swipe) and PIN into a POS device (such as through a keypad). That information is communicated to a payment provider, who can then access the user's account, determine whether to approve or deny the payment, and notify the merchant of the decision.
1 . A system comprising:
a hardware memory storing user account information, wherein the information comprises an account identifier and a PIN for a user; and
one or more processors for
receiving a user identifier from the user at the POS;
receiving a PIN or password entered by the user at the POS;
receiving information about a merchant at the POS;
accessing an account of the user with the payment provider;
communicating, to the merchant, any value items for the financial transaction;
receiving information about the transaction, including a total amount; and
notifying the merchant whether to approve the total amount for the transaction.
2 . The system of claim 1 , wherein the PIN or password is encrypted before transmission to the payment provider.
3 . The system of claim 2 , wherein the PIN or password is entered into a PIN pad at the POS and encryption is done inside the PIN pad.
4 . The system of claim 1 , wherein the one or more processors further communicates, to the merchant, a key associated with the financial transaction and the user.
5 . The system of claim 4 , wherein the one or more processors further receives the key from the merchant.
6 . The system of claim 1 , wherein the one or more processors further notifies the user through a user device whether to approve the total amount for the transaction.
7 . The system of claim 1 , wherein value items comprises at least one of loyalty points, discounts, and coupons.
8 . The system of claim 1 , wherein the user identifier is a mobile number of the user.
9 . The system of claim 1 , wherein the user identifier is received through a card swiped at the POS.
10 . The system of claim 9 , wherein the user identifier is contained only on a magnetic strip on the card.
11 . A method of processing a financial transaction at a point of sale (POS), comprising:
receiving, electronically by a hardware processor of a payment provider, a user identifier from the user at the POS;
receiving, by the processor, a PIN or password entered by the user at the POS;
receiving information about a merchant at the POS;
accessing an account of the user with the payment provider;
communicating, electronically to the merchant, any value items for the financial transaction;
receiving information about the transaction, including a total amount; and
notifying the merchant whether to approve the total amount for the transaction.
12 . The method of claim 11 , wherein the PIN or password is entered into a PIN pad at the POS and the PIN or password is encrypted inside the PIN pad.
13 . The method of claim 11 , wherein value items comprises at least one of loyalty points, discounts, and coupons.
14 . The method of claim 11 , wherein the user identifier is a mobile number of the user.
15 . The method of claim 11 , wherein the user identifier is received through a card swiped at the POS.
16 . The method of claim 15 , wherein the user identifier is contained only on a magnetic strip on the card.
17 . A non-transitory machine-readable medium comprising a plurality of machine-readable instructions which when executed by one or more processors of a server are adapted to cause the server to perform a method comprising:
receiving, by payment provider, a user identifier from the user at the POS;
receiving a PIN or password entered by the user at the POS;
receiving information about a merchant at the POS;
accessing an account of the user with the payment provider;
communicating, to the merchant, any value items for the financial transaction;
receiving information about the transaction, including a total amount; and
notifying the merchant whether to approve the total amount for the transaction.
18 . The non-transitory machine-readable medium of claim 17 , wherein the PIN or password is entered into a PIN pad at the PIN or password is encrypted inside the PIN pad.
19 . The non-transitory machine-readable medium of claim 17 , wherein value items comprises at least one of loyalty points, discounts, and coupons.
20 . The non-transitory machine-readable medium of claim 17 , wherein the user identifier is a mobile number of the user.
21 . The non-transitory machine-readable medium of claim 17 , wherein the user identifier is received through a card swiped at the POS.
22 . The non-transitory machine-readable medium of claim 21 , wherein the user identifier is contained only on a magnetic strip on the card.