JPH04256198A - Credit confirming system of financial transaction using electronic receipt - Google Patents

Abstract

PURPOSE: To unnecessitate the transfer and catalog making of a printing paper sheet type receipt by providing a terminal which is arranged at a sales spot for fetching a financial transaction parameter. CONSTITUTION: The digitized signature and the financial transaction parameter are stored in the terminal 36. After that, whole data is transmitted from the terminal of a sales trader to the arithmetic device 50 of an associated financial company (typically called acquirer 26). The acquirer 26 preserves the data till payment concerning the financial transaction is received. When the certification of the financial transaction is requested by a purchase customer, the data is retrieved, and the various equipments for executing conversion into the printing paper sheet type receipt can be obtained. Then, the printing paper sheet type receipt is supplied to the purchase customer, the financial transaction is certificate and payment for the purchase is guided.

Description

[Detailed description of the invention]

0001

BACKGROUND OF THE INVENTION 1. Field of the Invention The present invention relates to a system for confirming financial transactions. The present invention is suitable for use with financial transaction card systems that have heretofore required printed paper receipts to confirm financial transactions.

0002

[Background Art] In the current environment, it is difficult to purchase goods,
In many cases of financial transactions, such as when receiving services, financial transaction cards are used as the most preferred form of payment. Financial transaction or payment cards come in various forms, such as credit cards. In most cases,
The purchaser presents the card at the point of purchase. The merchant then takes several steps to determine whether the card is valid. Once the merchant decides to accept the card, the financial transaction is completed.

[0003] In most financial transactions involving payment cards, the purchasing customer is required to sign a printed paper receipt. The receipt also includes various parameters that identify the financial transaction. These parameters typically include the card's account number, expiration date, merchant identification, transaction date, authorization code, and total amount of the financial transaction.

In reality, a receipt in printed paper form is essentially a composite of two to four identical copies. The purchaser is usually given a copy after signing this receipt. The purchasing customer saves this receipt as a record of the purchase. One or two copies are retained by the distributor. A final copy of the receipt is sent to the financial company that is affiliated with the merchant and is responsible for creating the information that will ultimately be credited to the customer's account.

Currently, financial companies typically retain all receipts from all financial transactions until payment is received. However, once the information from the receipt is used to bill the customer, the receipt is not referenced unless a dispute arises regarding the authorization of the financial transaction. More specifically, if a customer has questions about a bill related to a particular financial transaction, they will contact the financial company that issued the customer's card. The card issuing financial company initiates inquiries including the merchant's affiliated financial companies identified on the customer's bill. The seller's finance company then locates the receipt and prepares a copy to send to the purchaser. Assuming the financial transaction was valid, the signature on this receipt convinces the customer that the purchase occurred and that the customer is responsible for paying the amount of this invoice. This is usually sufficient evidence.

[0006] As can be seen from the above, it is a difficult problem to store an extremely large number of receipts in such a manner that they can be retrieved at any time. Various methods have been used to solve this problem. One solution is to use microfilm techniques. This method involves copying all receipts onto microfilm and cataloging them for retrieval.

Another, more sophisticated method is through the use of electronic image creation, storage and retrieval systems. Using this method, a financial company can create a digital image of each receipt in a manner similar to how a facsimile machine converts the image into electronic pulses. This digital image can be cataloged and stored, and a paper copy can be recreated in response to a request to confirm a financial transaction.

[0008] While the latter method alleviates the storage problems mentioned above, it also makes the actual handling of receipts more expensive and time consuming. As noted above, each copy of the receipt must be forwarded from the merchant to the merchant's financial company. The financial company must then manually catalog and store these receipts, whether in printed paper copies, microfilm, or electronic format.

[0009] One method that has been proposed to eliminate the duplication of printed paper receipts is for users to enter a personal identification number (PIN) instead of a signature at the time of a financial transaction.
identification number)
It is necessary to provide Requiring the provision of a PIN adds an additional level of security to financial transactions. However, this method does not provide a satisfactory solution to inquiries by purchasers. The response from the financial company is limited to informing the purchaser that the purchaser's PIN was used at the time of the purchase. No actual proof can be given to this customer to support this report. Furthermore, even if proof of the PIN can be provided, it is more acceptable to the purchasing customer to have a physical proof of signature as proof of responsibility for the financial transaction.

0010

SUMMARY OF THE INVENTION It is therefore an object of the present invention to provide a system for financial transaction verification that overcomes the problems of the prior art methods mentioned above.

It is another object of the present invention to provide a system for financial transaction verification that does not require the transfer and cataloging of printed paper receipts.

[0012] There is no need to transfer receipts in printed paper format,
Furthermore, it is possible to recreate receipts upon request at a later date.
It is a further object of the invention to provide a system for financial transaction verification.

It is further an object of the present invention to provide a system for financial transaction verification that includes a terminal or terminal peripheral capable of creating a digitized coded signal based on data that uniquely identifies a purchaser. This is another purpose.

[0014] further comprising a terminal capable of producing a digitized code signal based on the purchaser's signature;
It is another object of the invention to provide a system for financial transaction verification.

[0015] The financial transaction confirmation further includes a terminal or terminal peripheral capable of generating a digitized code signal based on the data that uniquely identifies the purchaser and storing the code signal along with the parameters of the financial transaction. It is another object of the present invention to provide a system for.

Additionally, a digitized code signal is generated based on the data that uniquely identifies the purchaser, the code signal is stored along with the parameters of the financial transaction, and these signals are used to recreate the printed paper receipt at a later date. It is a further object of the present invention to provide a system for financial transaction verification comprising a terminal or terminal peripheral having the ability to use data of

[0017]

SUMMARY OF THE INVENTION In accordance with the above and other objects, the present invention provides a method and system for verifying the authenticity of financial transactions. This system includes terminals placed at the point of sale to capture the parameters of the financial transaction. In this regard, the terminal is similar to prior art terminals, including electronic cash registers and other state-of-the-art point-of-sale systems.

According to the invention, this terminal is provided with a device for electronically capturing the data provided by the customer and uniquely identifying the customer. In a preferred embodiment of the invention, this data is a digital representation of the signature. There are many types of methods used to create digital representations of signatures. For example, various digitizing pads or pens with pressure-sensitive transducers have been used to record signatures as digital information.

In a preferred embodiment of the invention, a digitization of the signature is created using a combination of a cathode ray tube and a light pen. This latter combination has been used in the prior art to record signatures. (April 1987
U.S. Patent No. 4,656,6, published on May 7th.
(See No. 62). Although not explicitly stated in the patent, it appears that this system was intended to create multiple signatures that would serve as a standard for financial company customer management. Financial companies quote these reference signatures to identify customer signatures, for example when accepting checks. This method allows financial companies to abolish signature cards.

According to the invention, the digitized signature and parameters of the financial transaction are stored in the terminal. All data is then transmitted from the merchant's terminal to the computing equipment of the affiliated financial company (typically called the acquirer). The acquirer stores this data until it receives payment for the financial transaction. However, if the purchaser requests proof of the financial transaction, this data can be retrieved and a printed paper copy produced. Various devices are available for converting this electronic data into printed paper receipts. This printed paper receipt will then be provided to the purchaser to evidence the financial transaction and induce payment for the purchase.

As can be seen from the above, the system of the present invention allows the same type of proof as is currently being carried out, while
There is no need to create a catalog or physically store receipts in printed paper format. Further objects and advantages will become apparent from the detailed description that proceeds in conjunction with the following figures.

[0022]

DESCRIPTION OF THE PREFERRED EMBODIMENTS In FIG. 1, a typical financial transaction card network 10 is shown. A more detailed description of this type of network is provided in U.S. Pat. No. 4,485,300, issued March 27, 1984, to which reference is made in this application. Briefly, the network includes a plurality of financial companies 20 that issue financial transaction cards 22 to customers. The network also includes a number of merchants 24 from which customers can use payment cards 20 to purchase goods or receive services. Each of the merchants is affiliated with a respective financial company called an acquirer 26.

[0023] Both card issuers and acquirers are network operators (ie, Visa and Master
central processing unit 2 (such as a card)
8 is connected. In a typical credit card financial transaction, a customer presents his or her card at the time of purchase. Merchant 24 determines whether the card is authentic by one of many methods. For example, a confirmation request may be issued and routed through the network to the card issuer for approval. 198
U.S. Patent No. 4,73, published March 29, 1988.
Additional information about verifying cards can be found in No. 4,564 (in some financial transactions, the card issuer and acquirer may be the same financial company). (In this case, there is no need for the network operator to act as an intermediary.)

[0024] If the card is verified, the purchase is complete. As mentioned above, the customer is typically required to sign a printed paper receipt. At least a portion of this form is ultimately delivered to the acquirer. In some cases, the information on this receipt is used by the acquirer to initiate the billing process. In another case,
This receipt is simply cataloged and stored. In the latter case, information about the financial transaction would be provided by the merchant to the acquirer in electronic format. In the prior art, a variety of miscellaneous merchant terminals exist that can capture parameters of a financial transaction and periodically transmit them to an acquirer.

[0025] Once the acquirer receives the parameters of the financial transaction, these parameters can be routed through central processing unit 28 to the appropriate card issuer. Accordingly, the card issuer 20 issues a bill to the card holder.

If the cardholder objects to the charge on the bill, the cardholder will contact the card issuer 20. The card issuer then initiates a request for information from the acquirer. Accordingly, the acquirer provides a printed paper receipt signed by the cardholder to verify the financial transaction.

The present invention substantially simplifies the creation, storage, and retrieval of purchase receipts. More specifically, the terminal at the merchant point is equipped with equipment for producing a digitized code signal comprising a representation of the cardholder's signature. This code signal, along with the parameters of the financial transaction, is transmitted electronically to the acquirer. The acquirer stores this data until contacted by the cardholder. If requested, the acquirer will generate a printed paper receipt that will be provided to the cardholder to confirm the financial transaction.

FIG. 2 depicts one type of terminal 36 that may be used to implement the present invention. Terminal 36 may include a standard electronic cash register 38. This type of cash register is equipped with the ability to accept input to determine the date and amount of the financial transaction. These data are stored in digital format.

In accordance with the present invention, a device is coupled to cash register 38 that has the capability of creating a digitized version of the cardholder's signature. As mentioned above, numerous devices exist that convert an individual's pen movements into digital signals. For example, a pressure pad and a digitizing pen may be used here.

In the preferred embodiment of the invention, the device is defined by a microprocessor-controlled module 40 that includes a cathode ray tube display 42 and a light pen 44. The module may also include a device (slot 46 in FIG. 2) for reading the magnetic stripe on the financial transaction card.

In operation, a merchant may enter financial transaction parameters into cash register 38 . The merchant inserts the magnetic stripe of the financial transaction card into slot 46.
Slide it through the card to read the card identification data. This card identification data may also be transmitted over a network for verification. This confirmation may include confirmation that the card has not been reported lost or stolen.

When this financial transaction is confirmed, the parameters of the financial transaction are displayed on the cathode ray tube display device 42. As shown in FIG. 2, these parameters may include the merchant's name, the date of the financial transaction, the total amount of the financial transaction, the cardholder's name, and the financial transaction account number. The customer is then given the opportunity to visually review this displayed information for accuracy. If this data is correct, the customer then uses light pen 44 to "sign" on the display device.

As noted above, the use of light pen and cathode ray tube display combinations to digitize handwritten data is well known and will not be discussed in detail here. Briefly, in this type of device, the light pen contains a photoelectric detector that is excited by the electron beam of the cathode ray tube. The electrical current generated by a photodetector inside the light pen correlates with the timing and position of the cathode ray tube's electron beam to provide positional information. This location information is stored and provided to each cash register 38. The device can also be programmed to display the user's handwriting as they write their signature on the cathode ray tube.

[0034] Once the user has finished entering the signature, the cash register 38 can generate a receipt. At this time, this signature may or may not be sent by facsimile. In this way, the customer will have a customer record of the financial transaction.

The present invention eliminates the need for additional printed paper receipts at the point of purchase. This digitized electronic data, including financial transaction parameters and signature information, may be stored at the merchant's location or transmitted to the acquirer. You can take it. The acquirer can use these data to initiate the necessary steps to cause the card issuer to issue an invoice to the purchaser. In addition, the Acquirer will store this information until such payment is received.

As noted above, if a cardholder inquires about a charge item on a bill, a confirmation request is made by the card issuer to the acquirer. At this time, the arithmetic device 50 operated by the acquirer
Data regarding the financial transaction is retrieved from electronic storage 52 (FIG. 1). This digital data is then converted into a receipt in human readable format, preferably in printed paper format. This receipt includes all of the financial transaction parameters, including a representation of the customer's signature.

Many devices are available for converting this stored digital data into printed paper receipts. This technique has been developed for various document storage and retrieval systems. This technique has also been used to store receipts in printed paper format and to generate subsequent receipts.

[0038]

Once a printed paper receipt is generated, it can be sent to the customer to confirm the financial transaction. Once a receipt with the customer's signature is presented to the customer,
Most disputes can be resolved. As can be readily seen, a printed paper receipt can be provided to the customer for confirmation even if the printed paper receipt was never generated at the point of sale. This method eliminates the problems of transmitting, cataloging, and storing receipts.

Although the present invention has been described with reference to preferred embodiments, those skilled in the art can make various changes and modifications without departing from the scope and spirit of the invention as defined by the claims of this application. It is. For example, identification of evidence is not necessarily limited to a customer's signature; any handwritten signature is sufficient. Additionally, this system could be used to store and retrieve PINs to provide proof to the customer that a valid PIN has been entered.

[0040] The format of a receipt that can be read by humans does not necessarily have to be a printed paper format. For example, if a customer comes to a financial firm that works with an acquirer, the requested information can be retrieved electronically and used to display a person on a cathode ray tube screen in the customer's location. It may also be possible to create an image that can be read. As long as the customer can view this information, the financial transaction can be confirmed.

[Brief explanation of the drawing]

FIG. 1: A typical financial transaction card capable of implementing the present invention.
FIG. 1 is a schematic diagram of a network.

FIG. 2 is a perspective view, with some schematic views, of a terminal for use in the system of the invention;

[Explanation of symbols]

10 A network of financial transaction cards 20 A payment card 22 A plurality of financial companies issuing cards 24 A merchant 26 An acquirer 28 A central processing unit 36 of the network operator Device for converting into receipts

Claims (13)

[Claims] 1. A method for establishing the credibility of a financial transaction, the method comprising: generating a digitized code signal that uniquely identifies a purchaser based on information provided by the purchaser at the time of the financial transaction; stores the digitized code signal along with the digitized parameters of the financial transaction, and creates a receipt in a human readable format that includes the financial transaction parameters and a representation of the purchaser's unique identification data, and performs the financial transaction. A financial trade credit confirmation method consisting of steps making it possible to confirm a trade credit. 2. The method of claim 1, further comprising transmitting the stored digitized code signal along with the financial transaction digitized parameters to a central processing unit for storage until a request for receipt generation. Financial transaction credit confirmation method. 3. The financial transaction credit confirmation method according to claim 1, wherein the purchaser unique identification data is a signature. 4. The financial transaction credit confirmation method according to claim 1, wherein the receipt is a printed paper receipt. [Claim 5] A system for confirming the credibility of financial transactions, the purpose of which is to record a digitized code signal based on information provided by a purchasing customer, and to uniquely identify the purchasing customer. a terminal device for recording the parameters of the financial transaction, and a receipt containing the financial transaction parameters and a representation of the purchaser's unique identification data in a human-readable format to ensure credit for the financial transaction; a system connectable to the terminal device to enable the
Financial transaction credit confirmation system. 6. The financial transaction credit confirmation system according to claim 5, wherein the purchaser unique identification data is a signature. 7. The financial transaction credit confirmation system according to claim 5, wherein the receipt is a printed paper receipt. 8. A terminal for use in a financial transaction credit confirmation system, comprising a terminal device for recording parameters of the financial transaction and a digitized code signal based on information provided by the purchaser. a device for recording and uniquely identifying the purchaser, the receipt being capable of establishing credit for the financial transaction, comprising a representation of the financial transaction parameters and the purchaser unique identification data in a human readable format; A terminal for financial transaction credit confirmation system, consisting of a device for making it possible to create a credit confirmation system at a later date. 9. The terminal for a financial transaction credit confirmation system according to claim 8, wherein the terminal further includes a device for displaying the financial transaction parameters at the time of the financial transaction. 10. The terminal for financial transaction credit confirmation system according to claim 8, wherein the purchaser unique identification data is a signature. 11. The terminal for financial transaction credit confirmation system according to claim 8, wherein the digitized coded signal recording device includes a cathode ray tube combined with a light pen. 12. The financial transaction credit confirmation system terminal according to claim 8, wherein a receipt in a human-readable format is also created at the time of the financial transaction. 13. The terminal for financial transaction credit confirmation system according to claim 8, wherein the receipt is a receipt in a printed paper format.