Systems and methods for point of sale deposits

Patent metadata

Field	Value
Publication number	US-11017365-B2
Application number	US-201916355955-A
Country	US
Kind code	B2
Filing date	Mar 18, 2019
Priority date	Aug 30, 2013
Publication date	May 25, 2021
Grant date	May 25, 2021

Abstract

The disclosed embodiments include systems and methods for executing a point of sale deposit. In one embodiment, a system may include one or more memory devices storing software instructions, and one or more processors configured to execute the software instructions to receive transaction information related to a point of sale deposit from a client device, and generate a pending deposit transaction based on the transaction information. The one or more processors may be further configured to execute the software instructions to receive a first transaction token from the client device, receive a second transaction token from a third-party device, match the first transaction token to the second transaction token, and complete the pending deposit transaction based on the match.

First claim

What is claimed is:

1. A system for executing a point-of-sale deposit, the system comprising:
one or more memory devices storing software instructions; and
one or more processors configured to execute the software instructions to perform operations comprising:
receiving, from a client device, a request to initiate a point-of-sale deposit transaction, wherein the initiation request includes information identifying a customer account;
generating a transaction token associated with the initiation request, wherein the transaction token is encoded with deposit information;
transmitting, to the client device, the transaction token;
receiving, from a merchant device, an authorization request that includes information associated with the transaction token;
authorizing completion of the point-of-sale deposit based on an analysis of the authorization request;
receiving, from the merchant device, an indication of a transfer of funds associated with the authorized point-of-sale deposit transaction to a merchant associated with the merchant device; and
depositing funds associated with point-of-sale deposit transaction to the customer account.

2. The system of claim 1 , wherein the initiation request includes at least one of an amount to be deposited or a customer identifier.

3. The system of claim 1 , wherein the initiation request is received via a mobile application.

4. The system of claim 1 , wherein the customer account includes a financial service account.

5. The system of claim 1 , wherein the operations further comprise transmitting the transaction token to the client device wirelessly over a network.

6. The system of claim 1 , wherein the operations further comprise transferring the funds associated with the amount to be deposited from a wash account to the customer account.

7. The system of claim 1 , wherein the operations further comprise transmitting a notification to the client device indicating that the funds associated with point-of-sale deposit transaction have been deposited to the customer account.

8. The system of claim 1 , wherein the merchant device comprises an Automated Teller Machine (ATM).

9. The system of claim 1 , wherein the transaction token comprises an alphanumeric code.

10. The system of claim 1 , wherein the transaction token comprises a barcode or a QR code readable by the merchant device.

11. The system of claim 1 , wherein authorizing the point-of-sale deposit transaction comprises determining whether information associated with the initiation request matches customer account information.

12. The system of claim 1 , wherein the point-of-sale deposit comprises part of an overall transaction that includes a purchase transaction.

13. The system of claim 12 , wherein the funds associated with the authorized point-of-sale deposit transaction includes funds transferred to the merchant less a cost associated with the purchase transaction.

14. The system of claim 1 , wherein the initiation request is received via a transaction card action comprising at least one of a card swipe, a card insertion, or a near-field communication.

15. A method of executing a point-of-sale deposit, the method comprising:
receiving, from a client device, a request to initiate a point-of-sale deposit transaction, wherein the initiation request includes information identifying a customer account;
generating a transaction token associated with the initiation request, wherein the transaction token is encoded with deposit information;
transmitting, to the client device, the transaction token associated with the initiation request;
receiving, from a merchant device, an authorization request that includes information associated with the transaction token;
authorizing completion of the point-of-sale deposit transaction based on an analysis of the authorization request;
receiving, from the merchant device, an indication of a transfer of funds associated with the authorized point-of-sale deposit transaction to a merchant associated with the merchant device; and
depositing funds associated with point-of-sale deposit transaction to the customer account.

16. The method of claim 15 , the method further comprising transferring the funds associated with the amount to be deposited from a wash account to the customer account.

17. The method of claim 15 , the method further comprising transmitting a notification to the client device indicating that the funds associated with point-of-sale deposit transaction have been deposited to the customer account.

18. The method of claim 15 , wherein authorizing the point-of-sale deposit transaction comprises determining whether information associated with the initiation request matches customer account information.

19. The method of claim 15 , wherein the initiation request includes at least one of an amount to be deposited or a customer identifier.

20. A non-transitory computer-readable medium storing instructions that, when executed by one or more hardware processors, configures the one or more hardware processors to perform operations for executing a point-of-sale deposit, the operations comprising:
receiving, from a client device, a request to initiate a point-of-sale deposit transaction, wherein the initiation request includes information identifying a customer account;
generating a transaction token associated with the initiation request, wherein the transaction token is encoded with deposit information;
transmitting, to the client device, the transaction token associated with the initiation request;
receiving, from a merchant device, an authorization request that includes information associated with the transaction token;
authorizing completion of the point-of-sale deposit transaction based on an analysis of the authorization request;
receiving, from the merchant device, an indication of a transfer of funds associated with the authorized point-of-sale deposit transaction to a merchant associated with the merchant device; and
depositing funds associated with point-of-sale deposit transaction to the customer account.

Assignees

• Capital One Services Llc

Inventors

• Brennan Dennis S
• Potter Steven
• Witter Jonathan

Classifications

• G06Q20/1085

  involving automatic teller machines [ATMs] · CPC title

• G06Q40/02

  Banking, e.g. interest calculation or account maintenance (credit or loans G06Q40/03) · CPC title

• G06Q20/40

  Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists · CPC title

• G06Q20/20

  Point-of-sale [POS] network systems · CPC title

• G06Q20/108 Primary

  Remote banking, e.g. home banking · CPC title