Granted Patent B2

US 10,275,748 · App. 16/105,095 · Granted Apr 30, 2019

Abstract

Claims (55)

1. A method of facilitating a request to access monetary value associated with a financial account of a user 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;

determining one or more available transaction types based upon said information read from said card;

processing said request to access monetary value via a first transaction type from said available transaction types;

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 processing said request via a second transaction type from said available transaction types.

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 available transaction types are determined by reading application identifiers from said card.

9. A transaction terminal configured to process a request to access monetary value associated with a financial account, 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 information associated with said card;

determine one or more available transaction types based upon said information read from said card;

process said request to access monetary value via a first transaction type from said available transaction types;

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, and process said request via a second transaction type from said available transaction types.

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 available list of transaction types from application identifiers read from said card by said card reader.

16. A transaction terminal configured to process a request to access monetary value associated with a financial account 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 information associated with said card;

determine one or more available transaction types based upon said information read from said card;

process said request to access monetary value via a first transaction type from said available transaction types;

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

when said transaction is denied, without input from said account holder, 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 a second transaction type from said available transaction types, said second transaction type 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 determining one or more available transaction types comprises reading application identifiers stored by said integrated circuit of said card.

19. The transaction terminal in accordance with claim 16 wherein said machine readable code is configured to cause said processor to cause said monetary dispending device to, when said transaction is approved, dispense current in an amount equal to said monetary value.

20. The transaction terminal in accordance with claim 16 wherein said machine readable code is configured to cause said processor to receive a request from said account holder of an amount of said monetary value.

Assignments (9)