System and method for checkless cash advance settlement
View Patent ↗Methods, devices, and systems for conducting a checkless cash access settlement are provided. In one embodiment, a cash advance method includes the following: a customer initiates a cash access transaction via a cash access system; the customer receives authorization or denial; the customer provides identification and the financial card to a cashier or attendant; the cashier or attendant validates the customer's identity, retrieves the transaction information, and completes the cash advance application; the application prints a non-negotiable instrument, such as a transaction receipt; the customer signs the receipt confirming the transaction with a physical receipt or electronic capture.
1. A method for making funds available for gaming, the method comprising:
pre-authorizing a customer financial transaction comprising the steps of:
reading customer information from a card associated with a financial account at an electronic processing terminal;
allowing the customer to select a quasi-cash transaction at the electronic processing terminal, the quasi-cash transaction creating a negotiable instrument which represents an amount of money; and
providing authorization information to said customer of whether said financial transaction is authorized or denied;
and
upon said transaction being authorized and an identity of the customer being verified, completing the customer financial transaction via an electronic unit separate from said terminal, comprising the steps of:
generating said negotiable instrument comprising at least some of the customer information read from said card, the negotiable instrument representing an amount of money;
receiving an electronic signature for the generated negotiable instrument from the customer via input to said electronic unit;
associating said signature with an image of said negotiable instrument to create an endorsed negotiable instrument;
storing said endorsed negotiable instrument as an electronic image at an image repository; and
allowing said customer to access funds based upon said endorsed negotiable instrument.
2. The method of claim 1 , wherein the step of receiving said electronic signature comprises receiving input from the customer with a stylus to an electronic display of said electronic unit.
3. The method of claim 1 , further comprising a step of printing out a transaction receipt for said quasi-cash transaction.
4. The method of claim 1 , wherein the electronic unit comprises a wireless control unit.
5. The method of claim 1 , wherein the card associated with a financial account is a debit or a credit card.
6. The method of claim 5 , wherein the step of reading customer information comprises reading information regarding a customer source of funds associated with the financial account from the debit or credit card.
7. The method of claim 1 , further comprising a step of receiving information regarding the identity of the customer.
8. The method of claim 7 , wherein the identity information is obtained from a personal identification card provided by the customer.
9. The method of claim 1 , wherein said negotiable instrument is issued against funds associated with said financial account, which funds are used to repay money obtained based upon said negotiable instrument.
10. The method of claim 1 , wherein said electronic unit is located at a cage station and said identity of said customer is verified by an attendant at said cage station.
11. The method of claim 1 , further comprising said electronic unit retrieving information associated with said authorization from said terminal.
12. The method of claim 1 , wherein said funds accessed by said customer comprise one or more casino chips.
13. The method of claim 1 , further comprising generating an ACH file for use in settling said negotiable instrument with a financial institution.
14. A system for making funds available for gaming comprising:
an electronic processing terminal which is configured to read customer information from a card associated with a financial account, receive input from the customer of the selection of a quasi-cash transaction, the quasi-cash transaction creating a negotiable instrument which represents an amount of money, and provide authorization information to said customer of whether said financial transaction is authorized or denied;
and
an electronic unit separate from said terminal, said electronic unit configured to, upon said transaction being authorized and an identity of the customer being is verified, complete the customer financial transaction by:
retrieving authorization information for said financial transaction;
generating said negotiable instrument comprising at least some of the customer information read from said card, the negotiable instrument representing an amount of money;
receiving an electronic signature for the generated negotiable instrument from the customer via input to said electronic unit;
associating said signature with an image of said negotiable instrument to create an endorsed negotiable instrument; and
transmitting an image of said endorsed negotiable instrument to an image repository.
15. The system of claim 14 , wherein the electronic unit comprises a wireless control unit.
16. The system of claim 14 , wherein said electronic unit is configured to receive said electronic signature via a stylus to an electronic display of said electronic unit.
17. The system of claim 14 , wherein said electronic processing terminal is configured to communicate with a financial transaction processing system to attempt to authenticate said financial transaction.
18. The system of claim 14 , wherein said image repository is associated with a server.
19. The system of claim 14 , further comprising a central server, said central server comprising said image repository and configured to generate an electronic ACH file and transmitting said ACH file to a financial institution for processing of said negotiable instrument.
20. The system of claim 14 , wherein said electronic unit is located at a casino cage.