Financial terminal that automatically reconfigures into different financial processing terminal types
An improved financial terminal automatically reconfigures into different financial processing terminal types. In one embodiment, the terminal comprises a housing; a card reader configured to accept at least a portion of a card having an integrated circuit; at least one display; at least one processor; and at least one memory configured to store machine readable code, the machine readable code comprising a first kernel corresponding to a first transaction type and a second kernel corresponding to a second transaction type.
1. An improved financial terminal that automatically reconfigures into different financial processing terminal types comprising:
a housing;
a card reader configured to read information associated with a card linked to a financial account;
at least one display;
at least one processor;
at least one memory, said memory embodying first non-transitory machine-readable code, said first non-transitory machine-readable code comprising a first kernel which, when executed by said at least one processor, causes said processor to configure said improved financial terminal into a first configuration for processing financial transactions of a first transaction type but not a second transaction type, and a second kernel which, when executed by said at least one processor, causes said improved financial terminal to be configured into a second configuration for processing financial transactions of a second transaction type but not said first transaction type; and
said at least one memory embodying second non-transitory machine-readable code, said second machine-readable code, when executed by said at least one processor, causing said at least one processor of said improved financial processing terminal to:
receive input of a requested financial transaction associated with said card read by said card reader;
receive input of a transaction type for said requested financial transaction;
execute said first kernel to cause said improved financial terminal to be configured into said first configuration when said transaction type comprises said first transaction type;
process said requested financial transaction solely based upon said first transaction type;
when said requested financial transaction is denied, automatically reconfigure said improved financial terminal by executing said second kernel cause said improved financial terminal to be configured into said second configuration; and
process said requested financial transaction solely based upon said second transaction type.
2. The improved financial terminal in accordance with claim 1 , wherein said second machine-readable code is configured to cause said processor to receive input of said transaction type by identifying information read from said card by said card reader and determining said first transaction type based upon identified available financial transaction types based on said information read from said card.
3. The improved financial terminal in accordance with claim 2 , wherein said available financial transaction types are determined by reading application identifiers from said card.
4. The improved financial terminal in accordance with claim 3 , wherein when said available financial transaction types includes at least one global transaction type, said second machine-readable code is configured to cause said at least one processor to select one of said global transaction types as said first transaction type.
5. The improved financial terminal in accordance with claim 1 , wherein said second machine-readable code is configured to cause said processor to receive input of said transaction type via input by a user of said improved financial terminal.
6. The improved financial terminal in accordance with claim 5 , wherein input of said transaction type comprises input of said requested financial transaction to be processed as a Personal Identification Number (“PIN”) based transaction or a signature based transaction.
7. The improved financial terminal in accordance with claim 5 , wherein said input comprises selection of said transaction type from a list of available transaction types.
8. The improved financial terminal in accordance with claim 7 , wherein said second machine-readable code is configured to cause said at least one processor to receive input from said user of said second transaction type, said second transaction type selected from a second list of available transaction types, which said second list does not include said first transaction type.
9. The improved financial terminal in accordance with claim 1 , wherein said improved financial terminal comprises at least one of a kiosk, an ATM and a POS terminal.
10. The improved financial terminal in accordance with claim 1 , wherein said card reader is configured to read information associated with an integrated circuit of said card.
11. The improved financial terminal in accordance with claim 10 , further comprising accepting at least a portion of said card into said card reader, engaging said integrated circuit of said card with said reader, and wherein said card is not disengaged by said card reader when said first financial transaction is denied.
12. The improved financial terminal in accordance with claim 11 , wherein said card is automatically re-read by said card reader after said first financial transaction is denied.
13. The improved financial terminal in accordance with claim 1 , further comprising a communication interface configured to transmit information to and receive information from at least network.
14. The improved financial terminal in accordance with claim 13 , wherein said second machine-readable code is configured to cause said at least one processor to send, via said communication interface, a request to process said requested financial transaction as a transaction of said first transaction type.
15. The improved financial terminal in accordance with claim 13 , wherein said second machine-readable code is further configured to cause said at least one processor to send to a first financial processing network, via said communication interface, a request to process said requested financial transaction as a transaction of said first transaction type, wherein when said processing of said requested financial transaction via said first financial transaction type is denied, automatically re-read said card while said card remains accepted into said card reader and send to a second financial processing network, via said communication interface, a request to process said requested financial transaction as a transaction of said second transaction type.
16. The improved financial terminal in accordance with claim 13 , wherein said at least one network comprises a payment processing network and a banking network, wherein when said improved financial terminal is configured to process financial transactions of said first transaction type, said processor communicates with one of said payment processing network and banking network, and when said improved financial terminal is configured to process financial transaction of said second transaction type, said processor communicates with the other of said payment processing network and banking network.
17. The improved financial terminal in accordance with claim 1 , further comprising a monetary dispensing device.
18. The improved financial terminal in accordance with claim 1 , further wherein said second machine-readable code is further configured to cause said at least one processor to cause a monetary dispensing device to dispense an amount of funds when said first or second financial transaction is approved.