Pre-Paid Activation and Replenishment on a Point-of-Sale Device

Abstract

A system and method for processing prepaid financial transactions. The system and method describe the utilization of one or more remote terminals that are adapted to acquire transaction information from a user and transmit a first signal indicative of the transaction information. The remote terminal is further adapted to receive a second signal indicative of authorizing information that is delivered to the user. In addition, an authorizing host is adapted to receive the first signal transmitted by the one or more remote terminals. In one aspect, the authorizing host routes the first signal including the transaction information to an exchange host for approval of the financial transaction, and the exchange host transmits the second signal including the authorizing information to the remote terminal via the authorizing host.

1 . A system for assessing the risk associated with a proffered promissory payment wherein the system is linked to at least one prepaid goods or service provider, the system comprising:
 a plurality of point of sale devices located within a plurality of distributed locations, wherein the plurality of point of sale devices acquire information about proffered promissory payments and also acquire information about requests for prepaid goods or services and wherein the plurality of point of sale devices include a communications interface for communicating information to individuals within the plurality of distributed locations; and   an authorizing host that is communicatively linked to the plurality of point of sale devices wherein the authorizing host receives the information about the proffered promissory payments and assesses the risk of accepting the proffered promissory payment and wherein the authorizing host communicates acceptance or decline information to the point of sale device corresponding to a particular proffered promissory payment and wherein the authorizing host is adapted to route a request for a prepaid good or service to the corresponding goods or services provider and then transmit acceptance or decline information to the point of sale device originating the request for prepaid good or service.   
     
     
         2 . The system of  claim 1 , wherein the plurality of transaction devices acquire financial information about a proffered promissory payment that include the amount, the account corresponding to the proffered promissory payment, the account holder and further transmits information about the merchant to the authorizing host such that the authorizing host can perform risk assessment on the proffered promissory payment. 
     
     
         3 . The system of  claim 1 , wherein the plurality of transaction devices include an input for inputting information wherein the communications interface comprises a display screen that displays the acceptance and decline information. 
     
     
         4 . The system of  claim 1 , wherein the plurality of transaction devices allow the merchant to transmit requests for prepaid goods or services for a plurality of different prepaid goods and service providers and receive acceptance and decline information from the plurality of different prepaid goods and service providers via the authorizing host. 
     
     
         5 . The system of  claim 4 , wherein the plurality of different prepaid goods and service providers include cellular telephone providers, long distance telephone providers, video rental providers. 
     
     
         6 . The system of  claim 4 , wherein the authorizing host and the plurality of transaction devices are configured to provide an authorizing code to the purchaser of the prepaid goods and services in response to the prepaid good and service provider approving the request for prepaid goods and services. 
     
     
         7 . The system of  claim 6 , wherein the authorizing code comprises a PIN number that the purchaser utilizes to activate the prepaid good or service. 
     
     
         8 . A point of sale device adapted to be positioned within a store for transmitting financial information about proffered promissory payments to a central authorizing agency, wherein the point of sale device is further adapted to receive requests for prepaid goods and services and transmit those requests to the central authorizing agency for subsequent retransmission to the prepaid goods and service provider, and wherein the point of sale device is further adapted to provide approval or decline information about the proffered promissory payments and the prepaid goods and service requests to individuals. 
     
     
         9 . The device of  claim 8 , wherein the point of sale device comprises one or more user inputs for inputting information about the proffered promissory payment and the requests for prepaid goods and services into the point of sale device. 
     
     
         10 . The device of  claim 9 , wherein the one or more user inputs includes a scanner for scanning magnetic information off of checks. 
     
     
         11 . The device of  claim 9 , wherein the one or more user inputs includes a keypad for entering data relating to the request for prepaid goods and services. 
     
     
         12 . The device of  claim 8 , wherein the point of sale device includes a display for displaying an authorization code to the purchaser of the pre-paid goods and services. 
     
     
         13 . The device of  claim 12 , wherein the authorization code comprises a PIN number suitable for activating additional minutes on a cellular telephone account. 
     
     
         14 . A system for processing requests for prepaid goods and service, the system comprising a risk assessment system having a plurality of distributed transaction devices located at a plurality of different locations and a authorizing host that receives information about proffered promissory payments from the plurality of distributed transaction devices, wherein the authorizing host performs a risk assessment on the proffered promissory payments and sends approval or decline signals to the distributed transaction device where the proffered promissory payment originated, wherein the risk assessment system is configured to allow individuals to send requests for prepaid goods and services via the risk assessment system to prepaid good and services vendors independent of the risk assessment system and receive approval information from the goods and service vendors via the risk assessment system. 
     
     
         15 . The system of  claim 14 , wherein the plurality of transaction devices acquire financial information about a proffered promissory payment that include the amount, the account corresponding to the proffered promissory payment, the account holder and further transmits information about the merchant to the authorizing host such that the authorizing host can perform risk assessment on the proffered promissory payment. 
     
     
         16 . The system of  claim 14 , wherein the plurality of transaction devices include an input for inputting information and wherein the communications interface comprises a display screen that displays the acceptance and decline information. 
     
     
         17 . The system of  claim 14 , wherein the plurality of transaction devices allow the merchant to transmit requests for prepaid goods or services for a plurality of different prepaid goods and service providers and receive acceptance and decline information from the plurality of different prepaid goods and service providers via the authorizing host. 
     
     
         18 . The system of  claim 17 , wherein the plurality of different prepaid goods and service providers include cellular telephone providers, long distance telephone providers, video rental providers. 
     
     
         19 . The system of  claim 17 , wherein the authorizing host and the plurality of transaction devices are configured to provide an authorizing code to the purchaser of the prepaid goods and services in response to the prepaid good and service provider approving the request for prepaid goods and services. 
     
     
         20 . The system of  claim 19 , wherein the authorizing code comprises a PIN number that the purchaser utilizes to activate the prepaid good or service. 
     
     
         21 - 41 . (canceled)