Systems and methods for point of sale deposits

Patent metadata

Field	Value
Publication number	US-9836727-B1
Application number	US-201414472610-A
Country	US
Kind code	B1
Filing date	Aug 29, 2014
Priority date	Aug 30, 2013
Publication date	Dec 5, 2017
Grant date	Dec 5, 2017

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, comprising:
one or more memory devices storing software instructions; and
one or more processors configured to execute the software instructions to:
receive, from a client device, transaction information related to a point of sale deposit to a financial account associated with the client device;
generate a pending deposit transaction based on the transaction information;
receive a first transaction token from the client device, the first transaction token including authorization information;
receive a second transaction token from a third-party device, the second transaction token including the authorization information and indicating that a customer physically delivered funds to a merchant;
compare the first transaction token to the second transaction token based on the authorization information; and
complete the pending deposit transaction when the first transaction token corresponds to the second transaction token.

2. The system of claim 1 , wherein the transaction information includes an at least one of an amount to be deposited, an account identifier, and a customer identifier.

3. The system of claim 2 , wherein the account identifier identifies a financial service account to receive the amount to be deposited.

4. The system of claim 1 , wherein the first transaction token and the second transaction token are associated with a temporary financial account generated by the third-party device based on the transaction information.

5. The system of claim 1 , wherein the one or more processors are configured to generate the pending deposit transaction by transferring funds into a wash account.

6. The system of claim 5 , wherein the one or more processors are configured to complete the pending deposit transaction by transferring the funds from the wash account into a financial service account.

7. The system of claim 1 , wherein the one or more processors are further configured to execute the software instructions to transmit a notification to the client device indicating that the deposit transaction was completed.

8. A system for executing a point of sale deposit, comprising:
one or more I/O devices configured to send and receive data;
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 at the one or more I/O devices, the transaction information including an amount to be deposited into a financial service account associated with the one or more I/O devices, wherein the amount to be deposited is based on an amount of funds that a customer physically delivers to a merchant for the point of sale deposit;
identify a third-party based on the received transaction information and transmit the transaction information to a third-party device via the one or more I/O devices;
receive a transaction token generated by the third-party device, the transaction token including the transaction information and authorization information;
transmit the transaction token to a financial service provider device; and
provide the transaction token to a merchant device via the one or more I/O devices by generating an optical representation of the transaction token for display.

9. The system of claim 8 , wherein the system is a mobile device and the software instructions are associated with a mobile application executed by the mobile device.

10. The system of claim 8 , wherein the one or more processors are configured to execute the software instructions to transmit the transaction token to the financial service provider device wirelessly over a network.

11. The system of claim 8 , wherein the optical representation is a barcode or a QR code that is readable by a merchant device.

12. The system of claim 8 , wherein the transaction information includes a deposit amount and an account identifier that identifies a financial service account to receive the deposit amount.

13. The system of claim 8 , wherein the one or more processors are further configured to execute the software instructions to receive a notification from the financial service provider device that the point of sale deposit was completed.

14. The system of claim 8 , wherein the third-party is a gift card provider.

15. The system of claim 8 , wherein the transaction token includes information identifying a financial account generated by the third-party device.

16. A system for executing a point of sale deposit, comprising:
one or more memory devices storing software instructions; and
one or more processors configured to execute the software instructions to:
receive, from a client device, transaction information related to a point of sale deposit to a financial account associated with the from a client device;
generate a temporary financial account;
generate a first transaction token associated with the temporary financial account, the first transaction token retaining at least the transaction information and authorization information;
transmit the first transaction token to the client device;
receive a second transaction token from a merchant device, wherein the second transaction token indicates that a customer physically delivered funds to a merchant;
compare the first transaction token to the second transaction token;
activate the temporary financial account based on the comparison; and
transmit a third transaction token to a financial service provider device based on the match.

17. The system of claim 16 , wherein the first transaction token includes a transaction identifier and the second transaction token includes the transaction identifier.

18. The system of claim 16 , wherein the one or more processors are further configured to execute the software instructions to receive a notification from the financial service provider device indicating that the transaction token was received by the financial service provider device.

19. The system of claim 18 , wherein the one or more processors are further configured to execute the software instructions to deactivate the temporary financial account based on the notification received from the financial service provider device.

20. The system of claim 1 , wherein the first transaction token includes first location information generated by a GPS device of the client device, the first location information identifying a current location of the client device;
wherein the second transaction token includes second location information identifying a location of the merchant; and
wherein comparing the first transaction token to the second transaction token includes comparing the first location information to the second location information.

Assignees

• Capital One Financial Corp

Inventors

• Brennan Dennis S
• Potter Steven
• Witter Jonathan

Classifications

• G06Q20/20

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

• G06Q20/108 Primary

  Remote banking, e.g. home banking · 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

• G06Q20/36

  using electronic wallets or electronic money safes · CPC title