System and Method for Storing Credit on a Value Card or Cellular Phone Rather Than Accepting Coin Change

Abstract

A system for receiving a value on, or associated with, a consumer card or cellular telephone in lieu of actually receiving coin change from a particular sale of merchandise or services at a point of sale terminal or cash register. Instead of receiving an odd amount of coin change after a purchase, the read/write device can augment a total value either stored on the card or cellular telephone itself or in an account associated with the card or cellular telephone. A consumer can redeem value up to the amount on the card or cellular telephone at participating stores as if it were a gift card.

1 . A system for collecting coin change from cash purchase transactions comprising:
 a point of sale system including a plurality of sales stations, each sales station having a least a processor, a display, a scanner and a keypad, the plurality of sales stations connected over a network to a central server, the central server constructed to access a database;   a plurality of personal identification numbers (PINs), each PIN assigned to a customer and storable on a card or a handheld smart device; said plurality of PINs also stored in the database;   a set of computer instructions running on the central server constructed to receive PINs from the sales stations or directly from the handheld smart device, and by accessing the database, to associate each PIN received with a particular account;   wherein, upon completion of a cash purchase transaction at one of the sales stations, where change from the cash purchase transaction includes a dollar portion and a cents portion, and upon receipt of a particular PIN associated with the cash purchase transaction, the set of computer instructions being adapted to automatically deposit only the cents portion of the cash purchase transaction into the particular account associated with the particular PIN.   
     
     
         2 . The system for collecting coin change from cash purchase transactions of  claim 1  wherein the particular customer PIN associated with the cash purchase transaction is read from a card at the sales station where the cash purchase transaction occurred. 
     
     
         3 . The system for collecting coin change from cash purchase transactions of  claim 1  wherein the particular PIN associated with the cash purchase transaction is read from a smartphone at the sales station where the cash purchase transaction occurred. 
     
     
         4 . The system for collecting coin change from cash purchase transactions of  claim 1  wherein the particular PIN associated with the cash purchase transaction is transmitted from the smartphone over a network to the central server. 
     
     
         5 . The system for collecting coin change from cash purchase transactions of  claim 1  wherein the PIN associated with the cash purchase transaction is transmitted wirelessly to the network. 
     
     
         6 . The system for collecting coin change from cash purchase transactions of  claim 1  wherein the PIN associated with the cash purchase transaction is entered on the keypad. 
     
     
         7 . The system for collecting coin change from cash purchase transactions of  claim 1  wherein a user can redeem funds from the particular account associated with the particular PIN. 
     
     
         8 . The system for collecting coin change from cash purchase transactions of  claim 7  wherein funds redeemed can be applied directly to a cash purchase. 
     
     
         9 . The system for collecting coin change from cash purchase transactions of  claim 7  wherein funds redeemed are paid in cash or added to a second account. 
     
     
         10 . A method for eliminating coin change at a point of sale location comprising:
 ringing up a cash purchase to obtain a total cash purchase amount;   accepting a cash payment at least equal to the total cash purchase amount;   if the cash payment is greater than the total cash purchase amount, computing a change amount, the change amount including a dollars part and a cents part;   automatically depositing only the cents part of the change amount in an account associated with a particular personal identification number (PIN) upon obtaining said PIN from a customer.   
     
     
         11 . The method of  claim 10  further comprising obtaining said PIN from the customer by reading a card. 
     
     
         12 . The method of  claim 10  further comprising obtaining said PIN from the customer by allowing the customer to transmit the PIN wirelessly to the point of sale location. 
     
     
         13 . The method of  claim 10  further comprising obtaining said PIN from the customer by allowing the customer to transmit the PIN wirelessly over a network to a central server associated with the point of sale location. 
     
     
         14 . The method of  claim 10  further comprising obtaining said PIN from the customer by entering it on a keypad at the point of sale location. 
     
     
         15 . The method of  claim 10  further comprising allowing the customer associated the particular PIN to redeem at least some funds from said account. 
     
     
         16 . The method of  claim 15  wherein the funds from said account may be used to complete a subsequent purchase at the point of sale location. 
     
     
         17 . The method of  claim 15  wherein funds from said account are transferred to a second account. 
     
     
         18 . A system for eliminating coin change at a point of sale location comprising:
 a point of sale location;   a means for obtaining a personal identification (PIN) number from a customer;   wherein, upon completion of a cash purchase at the point of sale location, a particular amount of cents change greater than or equal to $0.01 and less than or equal to $0.99 is due the customer, and the system obtains a PIN from the customer, the system automatically deposits the cents change in an account associated with said PIN.   
     
     
         19 . A system for eliminating coin change from cash purchases comprising:
 a point of sale location;   a plurality of personal identification numbers (PINs) stored in a database;   wherein, upon completion of a cash purchase at the point of sale location, a particular amount of cents change greater than or equal to $0.01, and less than or equal to $0.99, is due the customer, and the system obtains a particular PIN from the customer, the system automatically deposits the cents change in an account associated with the particular PIN by locating the particular PIN in the database.   
     
     
         20 . The system for eliminating coin change of  claim 19  wherein the particular PIN is read from a card at the point of sale location. 
     
     
         21 . The system for eliminating coin change of  claim 19  wherein the particular PIN is transmitted over a network from a handheld electronic device. 
     
     
         22 . The system for eliminating coin change of  claim 19  wherein the particular PIN is transferred from a handheld electronic device to the point of sale location. 
     
     
         23 . A method for collecting coin change from cash purchased transactions and for redeeming the coin change collected, the method comprising:
 storing information relating to a plurality of storage devices in a database;   at a point of cash purchase,   providing a user with a storage device,   automatically storing the coin portion of the change due to the user in the storage device wherein the coin portion of the change is distinct from the bill portion of the change returned to the user, and associating the coin portion of the change with the storage device;   receiving a verification from reading the storage device; and redeeming the coin portion of the change by transmitting the coin portion of the change from the storage device to a user account.   
     
     
         24 . A method for eliminating coin change in a particular cash transaction at a point of sale location comprising:
 ringing up a cash purchase from a particular customer to obtain a total cash purchase amount;   accepting a cash payment from the customer at least equal to the total cash purchase amount;   if the cash payment is greater than the total cash purchase amount, computing a change amount, the change amount including a dollars part and a cents part;   providing a means to associate the particular customer with the particular cash transaction;   depositing only the cents part of the change amount in an account associated with the particular customer.