Transaction processing system and method for providing per-transaction personal financial management

Abstract

An improved point of sale terminal and method of operation thereof providing new personal financial management support features thereto including receiving payment for a transaction amount from a user includes means for receiving from the user a primary account number associated with a primary account having a plurality of subaccounts each having a subaccount indicator and means for receiving from the user a user selected subaccount indicator from among the plurality of subaccount indicators for processing of the transaction amount. The system also includes means for transmitting the primary account number and the subaccount indicator as received from the user to a financial institution for payment authorization of the transaction amount and means for receiving authorization from the financial institution responsive to the transmitting.

What is claimed is: 
     
         1 . A point of sale terminal system improved to receive from a financial card a single primary account number associated with a single financial management system for the financial card having, the single primary account number having a plurality of different user selectable per-transaction subaccount numbers that are subordinate to the primary account number for receipt of a particular one of the plurality of subaccount numbers at the time of processing of a purchase transaction for a enabling user personal financial management support to a user of the financial card for allocating the purchase transaction to a subaccount the is unique to the received subaccount number, the improvements to the point of sale terminal comprising:
 a transaction interface located at a point of sale configured to receive transaction information including a transaction amount for which authorization of payment is being requested by the user and to generate a payment request and a transaction request associated therewith;   a card reader communicatively coupled to the transaction interface and configured to receive a payment request from an output interface of the financial card that includes the single primary account number for the financial card, and to transmit the payment request having the received single primary account number for the financial card;   a transaction processing system communicatively coupled to the transaction interface to receive the transaction request and coupled to the card reader configured to receive the payment request that includes primary account number, the transaction processing system also configured to receive the particular one of the plurality of subaccount numbers of the received primary account number that is associated with the received transaction request, further configured to prepare a processing transaction approval request over a network interface to the financial management system associated with the primary account number of the financial cart, the transaction approval request including the received primary account number, the received particular subaccount number, and the transaction amount, to transmit the transaction approval request to the financial management system, and to receive, in response, an approval or denial of the transaction amount for the particular subaccount number included in the transaction approval request, and to process the transaction request wherein the received response is the approval of the transaction amount for the primary account number and the particular subaccount number.   
     
     
         2 . The system of  claim 1  wherein the card reader is configured to receive the particular subaccount number from the financial card and transmit the received subaccount number to the transaction processing system. 
     
     
         3 . The system of  claim 2  wherein the financial card includes a magnetic strip and the card reader is configured a magnetic strip reader to read and receive the primary account number, the card reader further having a user interface configured to receive the plurality of subaccount numbers of the primary account number and to receive the particular subaccount number for the transaction request, the card reader configured to transmit the primary account number as received from the magnetic card strip reader and the particular subaccount number as received from the user interface to the transaction processing system. 
     
     
         4 . The system of  claim 3  wherein the financial card is a debit card having the magnetic strip configured to receive the primary account number and the single primary account is a debit card account associated with a debit card number of the debit card, and wherein each of the plurality of subaccount numbers under the primary account number of the debit card has a unique personal identification number (PIN), and the card reader configured to receive each of the plurality of PINs each being associated with a different one of the plurality of subaccount numbers, the transaction processing system is configured to transmit each of the plurality of PINS to the financial management system and receive an approval in reply for each of the plurality of PINS for the primary account number. 
     
     
         5 . The system of  claim 2  wherein the financial card includes a magnetic strip and the card reader is configured with a magnetic card strip reader for reading the primary account number and the particular subaccount number from the magnetic strip on the financial card and to transmit the primary account number and the particular subaccount number as received from the magnetic card strip reader to the transaction processing system. 
     
     
         6 . The system of  claim 2  wherein the financial card is a smart card having a smart chip thereon and the card reader is configured to electrically receive the primary account number from the financial card, the card reader further having a user interface configured to receive the plurality of subaccount numbers of the primary account number and receive the particular subaccount number for the transaction request, the card reader configured to transmit the primary account number as received from the magnetic card strip reader and the particular subaccount number as received from the user interface to the transaction processing system. 
     
     
         7 . The system of  claim 3  wherein the financial card is a smart debit card for electronically providing the primary account number to the smart card reader, and wherein each of the plurality of subaccount numbers under the primary account number of the smart debit card has a unique personal identification number (PIN), and the card reader configured to receive each of the plurality of PINs each being associated with a different one of the plurality of subaccount numbers, the transaction processing system is configured to transmit each of the plurality of PINS to the financial management system and receive an approval in reply for each of the plurality of PINS for the primary account number. 
     
     
         8 . The system of  claim 2  wherein the financial card is a smart card having a smart chip thereon and the card reader is configured to electrically receive the primary account number and the particular subaccount number from the financial card, and to transmit the primary account number and the particular subaccount number to the transaction processing system. 
     
     
         9 . A method of a point of sale transaction system having a transaction point of sale terminal system, the method comprising:
 receiving at a transaction interface transaction information including a transaction amount for which authorization of payment is being requested by the user and to generate a payment request and a transaction request associated therewith;   receiving from a financial card a single primary account number associated with a single financial management system,   receiving a particular one of a plurality of different user selectable per-transaction subaccount numbers that are subordinate to the primary account number of the financial card for processing of a purchase transaction for a enabling user personal financial management support to a user of the financial card for allocating the purchase transaction to a subaccount the is unique to the received subaccount number;   receiving at a card reader a payment request from an output interface of the financial card that includes the single primary account number for the financial card;   transmitting from the card reader the payment request that includes having the received single primary account number for the financial card;   at a transaction processing system:   receiving the transaction request;   receiving the payment request that includes primary account number;   receiving a particular one of the plurality of subaccount numbers of the received primary account number that is associated with the received transaction request;   preparing a processing transaction approval including the received primary account number, the received particular subaccount number, and the transaction amount;   transmitting the transaction approval request to the financial management system;   receiving from the financial management system an approval or denial of the transaction amount for the particular subaccount number included in the transaction approval request; and   processing the transaction request wherein the received response is the approval of the transaction amount for the primary account number and the particular subaccount number.   
     
     
         10 . The method of  claim 9  wherein receiving the particular subaccount number is receiving the particular subaccount number from the financial card by the card reader and transmitting the received subaccount number from the card reader to the transaction processing system. 
     
     
         11 . The method of  claim 10  wherein the financial card includes a magnetic strip and the card reader includes a magnetic strip reader and a user interface for receiving a user input, the method including
 at the card readers, reading the magnetic strip for receiving the primary account number; 
 receiving at the user interface one of the plurality of subaccount numbers of the primary account number including the particular subaccount number for the transaction request; and 
 transmitting from the card reader the primary account number as received from the magnetic card strip reader and the particular subaccount number as received from the user interface to the transaction processing system. 
 
     
     
         12 . The method of  claim 11  wherein the financial card is a debit card having the magnetic strip configured to receive the primary account number and the single primary account is a debit card account associated with a debit card number of the debit card, and wherein each of the plurality of subaccount numbers under the primary account number of the debit card has a unique personal identification number (PIN), the method further comprising:
 receiving each of the plurality of PINs each being associated with a different one of the plurality of subaccount numbers at the user interface of the card reader; 
 in the transaction processing system, transmitting each of the plurality of PINS to the financial management system; and 
 in the transaction processing system, receiving an approval in reply for each of the plurality of PINS for the primary account number. 
 
     
     
         13 . The method of  claim 12  wherein the financial card includes a magnetic strip and the card reader is configured with a magnetic card strip reader for reading the primary account number and the particular subaccount number from the magnetic strip on the financial card, the method comprising:
 reading the primary account number and the particular subaccount number from the magnetic strip of the financial card; and 
 transmitting the primary account number and the particular subaccount number as received from the magnetic card strip reader to the transaction processing system. 
 
     
     
         14 . The method of  claim 10  wherein the financial card is a smart card having a smart chip thereon and the card reader is a smart card reader having a user interface for receiving a user input, the method further comprising:
 electrically receiving the primary account number from the financial card; 
 receiving over the user interface the plurality of subaccount numbers of the primary account number including receiving the particular subaccount number for the transaction request; 
 transmitting the primary account number as received from the magnetic card strip reader and the particular subaccount number as received from the user interface to the transaction processing system. 
 
     
     
         15 . The method of  claim 10  wherein the financial card is a smart debit card for electronically providing the primary account number and the card reader is a smart card reader, and wherein each of the plurality of subaccount numbers under the primary account number of the smart debit card has a unique personal identification number (PIN), the method further comprising:
 at the card reader: 
 receiving each of the plurality of PINs each being associated with a different one of the plurality of subaccount numbers; 
 transmitting the received PIN as the particular subaccount number; 
 at the transaction processing system: 
 transmitting each of the plurality of PINS to the financial management system; 
 receiving an approval in reply for each of the plurality of PINS for the primary account number. 
 
     
     
         16 . The method of  claim 10  wherein the financial card is a smart card having a smart chip thereon and the card reader is a smart card reader, the method further comprising:
 electrically receiving the primary account number and the particular subaccount number from the financial smart card; 
 transmitting the electronically received primary account number and the particular subaccount number to the transaction processing system. 
 
     
     
         17 . A system for receiving payment for a transaction amount from a user with personal financial management support for the user comprising:
 means for receiving a transaction request that includes a transaction amount;   means for receiving from a financial card a primary account number associated with a primary account having a plurality of different subaccount numbers;   means for receiving a particular one of the plurality of subaccount numbers for processing of the transaction amount;   means for transmitting the transaction amount, the received primary account number and the received subaccount number to a financial account management system for payment authorization of the transaction amount; and   means for receiving authorization of both the primary account number and the subaccount number from the financial institution responsive to the transmitting by the means for transmitting.   
     
     
         18 . The system of  claim 17  wherein the means for receiving the financial card primary account number and the particular one of the subaccount number for the transaction request and the particular transaction amount is an electronic reader of a smart card. 
     
     
         19 . The system of  claim 17  wherein the means for receiving the financial card primary account number for the transaction request and the particular transaction amount is an electronic reader of a smart card, wherein the means for receiving the particular one of the plurality of subaccount numbers is a user interface configured for receiving a user input indicative of the particular subaccount number for the transaction request. 
     
     
         20 . The system of  claim 17  wherein the means for receiving the particular one of the plurality of subaccount numbers is a user interface configured for receiving a user input indicative of the particular subaccount number for the transaction request. 
     
     
         21 . The system of  claim 17  wherein the means for receiving the financial card primary account number for the transaction request and the transaction amount is a magnetic strip card reader.