Granted Patent B2

US 10,068,210 · App. 15/047,198 · Granted Sep 4, 2018

Abstract

Claims (57)

1. A method of facilitating a request to access monetary value associated with a financial account comprising the steps of:

receiving an integrated circuit financial card in a card reader at a transaction terminal, said integrated circuit financial card comprising a card media having an associated integrated circuit having information associated therewith;

controlling said card reader to cause at least one integrated circuit engaging component thereof to move from a first unengaged position in which said integrated circuit engaging component is not in contact with said integrated circuit of said integrated circuit financial card to a second engaged position in which said integrated circuit engaging component contacts said integrated circuit of said integrated circuit financial card;

reading said information from said card by said card reader;

presenting an initial list of available transaction types to the user of said card via said terminal based upon said information read from said card;

receiving, relative to said request, information at said terminal comprising a desired first transaction type selected from said list and an amount of said monetary value from the user of said card;

processing said request via said first transaction type;

when said transaction is approved, providing said requested monetary value to said user; and

when said transaction is denied, without input from said user of said card, controlling said card reader to cause said at least one integrated circuit engaging component of said card reader to remain in said second engaged position to continue to engage said integrated circuit of said integrated circuit financial card, automatically re-reading said card and presenting a new list of remaining available transaction types to the user of said card via said terminal, said new list not including said first transaction type, and receiving information at said terminal comprising a desired second transaction type and processing said request via said second transaction type.

2. The method in accordance with claim 1 wherein said transaction terminal comprises at least one of a kiosk, ATM and POS terminal.

3. The method in accordance with claim 1 wherein said step of processing said request via said first transaction type comprises transmitting said request to a first financial processing network and said step of processing said request via said second transaction type comprises transmitting said request to a second financial processing network.

4. The method in accordance with claim 3 wherein said card is associated with a financial institution account belonging to said user and said first and second financial processing networks are linked to said financial institution of said financial institution account.

5. The method in accordance with claim 1 wherein said available transaction types comprise at least one of a PIN based transaction type and a signature based transaction type.

6. The method in accordance with claim 1 wherein if said first transaction type comprises a PIN based transaction type, said method further comprising the step of receiving input from said user of a PIN at said transaction terminal.

7. The method in accordance with claim 1 wherein if said second transaction type comprises a signature based transaction type, said method further comprising the step of receiving a signature of said user at said transaction terminal.

8. The method in accordance with claim 1 wherein said initial list of transaction types is determined by reading application identifiers from said card.

9. A transaction terminal configured to process a requested financial transaction, comprising:

a housing;

a card reader, said card reader configured to accept at least a portion of an integrated circuit card and configured to engage at least one integrated circuit engaging component with an integrated circuit of said integrated circuit card by moving said at least one integrated circuit engaging component from a first unengaged position in which said integrated circuit engaging component is not in contact with said integrated circuit of said integrated circuit financial card to a second engaged position in which said integrated circuit engaging component contacts said integrated circuit of said integrated circuit financial card to read information therefrom;

a monetary dispensing device;

at least one user input device;

at least one electronic video display;

a communication interface configured to transmit information to and receive information from at least one financial processing network;

at least one processor configured to execute machine readable code;

at least one memory configured to store said machine readable code; and

said machine readable code configured to be executable by said at least one processor to cause said processor to:

cause said card reader to control said at least one integrated circuit engaging component to move from said first unengaged position to said second engaged position to engage with said integrated circuit and to read said integrated circuit of said card to read financial processing transaction types associated with said card;

generate a list of available financial processing transaction types for processing a requested financial transaction;

cause said at least one electronic video display to display said list;

receive, relative to said request, via said at least one user input device a desired first transaction type selected from said list and amount of said monetary value from the user of said card;

process said request via said first transaction type;

when said transaction is approved, cause said monetary dispensing device to dispense said requested monetary value to said user; and

when said transaction is denied, without input from said user of said card, control said at least one integrated circuit engaging component to remain in said second engaged position to continue to engage said integrated circuit of said card, cause said reader to re-read said card, generate a new list of remaining available transaction types, cause said at least one electronic video display to display to the user of said card said new list, said new list not including said first transaction type, and receive via said at least one user input device a desired second transaction type and process said request via said second transaction type.

10. The transaction terminal in accordance with claim 9 wherein said first transaction type comprises one of a signature based transaction type and a PIN based transaction type.

11. The transaction terminal in accordance with claim 9 wherein said processing said request via said first transaction type comprises generating a first request for approval of said requested financial transaction and transmitting said first request via said communication interface to a first financial processing network.

12. The transaction terminal in accordance with claim 9 wherein said card is associated with a financial account of a financial institution.

13. The transaction terminal in accordance with claim 9 wherein if said first or second transaction type comprises a PIN based transaction type, said machine-readable code further configured to cause said at least one processor to accept a PIN from said user via said at least one user input device of said terminal.

14. The transaction terminal in accordance with claim 9 wherein if said first or second transaction type comprises a signature-based transaction type, said machine-readable code further configured to cause said at least one processor to accept a signature from said user via said at least one user input device of said terminal.

15. The transaction terminal in accordance with claim 9 wherein said at least one processor is configured to generate said initial list and said new list from information comprising application identifiers read from said card by said card reader.

16. A transaction terminal configured to process a requested financial transaction by an account holder, comprising:

a housing;

a card reader, said card reader configured to accept at least a portion of an integrated circuit card and configured to engage at least one integrated circuit engaging component with an integrated circuit of said integrated circuit card to read information therefrom by moving said at least on integrated circuit engaging component from a first unengaged position in which said integrated circuit engaging component is not in contact with said integrated circuit of said integrated circuit financial card to a second engaged position in which said integrated circuit engaging component contacts said integrated circuit of said integrated circuit financial card from a first unengaged position to a second engaged position to make physical contact with the integrated circuit card;

a monetary dispensing device;

at least one user input device;

at least one electronic video display;

a communication interface configured to transmit information to and receive information from at least one financial processing network;

at least one processor configured to execute machine readable code;

at least one memory configured to store said machine readable code; and

said machine readable code configured to be executable by said at least one processor to cause said processor to:

cause said card reader to control said at least one integrated circuit engaging component to move from said first unengaged position to said second engaged position to engage said integrated circuit of said card and read financial processing transaction types associated with said card;

generate a list of available financial processing transaction types for processing a requested financial transaction by said account holder;

process said request via a first transaction type selected from said list;

when said transaction is approved, cause said monetary dispensing device dispense said requested monetary value to said user; and

when said transaction is denied, without input from said user of said card, control said at least one integrated circuit engaging component to remain in said second engaged position to continue to engage said integrated circuit of said card, and cause said card reader to re-read said card and process said request via said second transaction type which is different than said first transaction type.

17. The transaction terminal in accordance with claim 16 wherein said processor processes said request via said first and second transaction types by communicating with an external banking system for an approval of said requested transaction.

18. The transaction terminal in accordance with claim 16 wherein said step of reading financial processing transaction types associated with said card comprises reading application identifiers stored by said integrated circuit of said card.

19. The transaction terminal in accordance with claim 16 wherein said step of generating said list of available financial processing types comprises comparing financial processing types supported by said terminal to those associated with said card.

Assignments (16)