BRPI0916195A2 - process and system to facilitate point-of-sale checks and accelerated credit for check transactions - Google Patents

Abstract

PROCESS AND SYSTEM TO FACILITATE THE PROCESSING OF CHECKS AT POINT OF SALE AND ACCELERATED CREDIT FOR CHECK TRANSACTIONS. A process and system for providing credit to a retailer (10) by collecting checks from customers during financial transactions between customers and the retailer is described, comprising depositing checks collected by a retailer in a safe (14) located at the retailer's facility ( 10a, 10b, 10c), calculate the total monetary value of checks that are deposited in the vault, and electronically transmit a data file that identifies the total calculated monetary value of deposited checks. When using the information in the transmitted data file, the retailer is credited by a bank (60A, 60B, 60C), or another financial institution with the total monetary value of the checks deposited. Credit can be provided on a business day basis, and other features include scanning deposited checks, facilitating check processing using check image files, displaying scanned checks on a monitor at the retailer during the financial transaction, depositing checks checks in the same safe where the money collected by the retailer is deposited, providing the checks inside the safe on sealed cassettes, and printing an image of a check collected on a receipt that is provided to the customer. Other characteristics are also described. The process and system advantageously makes the funds readily readable and improves the cash flow for retailers who receive checks as part of their normal business operations.

Description

r '“PROCESS AND SYSTEM TO FACILITATE the

POINT OF SALE CHECK PROCESSING AND ACCELERATED CREDIT FOR CHECK TRANSACTIONS ”.

Reference to Related Orders This application claims priority for US provisional patent application No. 61 / 080,885, filed on July 15, 2008. The description of US patent application No. 61 / 080,885 is hereby incorporated by reference.

Field of the Invention The present invention relates to a process and system to facilitate the processing of checks at the point of sale and accelerated credit for transactions with checks and, more particularly, it refers to the advancement of credit in “commercial transactions based on transactions that involve checks during normal business operations of commercial establishments.

Description of the Prior Art With the current fast-paced mentality, individuals and companies expect instructions and tasks to be performed quickly in a wide range of activities. For example, consumer transactions, via the Internet and in retail stores, are conducted substantially faster today than years ago due to the use of more sophisticated technology. Similarly, bank transactions occur quickly, such as the transfer of funds between accounts or wire transfers to pay for goods or services. Many other examples are also available. There are, however, numerous areas that have not yet been substantially impacted by current technology and other advances. One such area involves the use of checks, as well as cash (ie, currency and paper money), in particular, the use of checks or cash by customers who buy

ENS

, 'goods or services in retail establishments. In such types of transactions, although the speed at which the transactions themselves take place is relatively short (for example, a few minutes), the speed at which the money or funds represented by the checks are subsequently used by the companies that accept the money or checks it is enormously short. Money must be collected and processed by a cash control service or deposited with a bank, and checks require processing. These processes often take several or more days. Therefore, while the development of modems has benefited companies by enabling a multitude of tasks to be performed at remarkably quick rates, companies today are still unable to make use of their cash collection and checks until the money and checks support several days. processing and control. Objectives and Summary of the Invention In view of the above, it is an object of the present invention to provide retailers with the ability to expeditiously enjoy the benefit of their checks and cash collections.

It is another object of the present invention to provide a process that provides credit to retailers at the time of their check and cash collections.

It is another object of the present invention to enable retailers to enjoy the benefit of their check and cash collections regardless of the processing of checks and cash collection schedules, cash vault cut windows and other programs imposed by third parties.

To obtain the above and other objects, the present invention involves a process for providing credit to a

AND THE

1 'retailer who understands collecting customer checks during financial transactions between customers and the retailer over a period of time, depositing collected checks in a safe located at the retailer's facility, calculating the total monetary value of checks that are deposited in the safe , and electronically transmit a data file that identifies the total calculated monetary value of checks to allow credit to be made to the retailer by a financial institution as the total monetary value of checks deposited.

As an aspect of the present invention, checks are scanned to produce image data when deposited in the safe. The image data is transmitted together with the data file to also facilitate credit as well as the subsequent processing of checks. Both sides of each check can be scanned.

As another aspect of the present invention, an image of the check is displayed on a display, such as a monitor, arranged inside or attached to the safe to allow the retailer's employee to verify that the image is clear. If the image is not clear, then the check can be re-scanned.

As another aspect of the present invention, at the end of the financial transaction, the customer is provided with a printed receipt that includes a printed version of the check that the customer provided to the retailer.

As an additional aspect of the present invention, the identity of the beneficiary and the cash value of the check are obtained electronically when the check is digitized.

The check number and the check routing / account number can also be obtained. The data file includes the information obtained.

As yet another aspect of the present invention, OS

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1 'checks are transferred from the safe to a sealed cassette. The data file may also include the number of checks in the sealed cassette, the monetary value of each check, and the period and date of deposit in the safe of each check.

As yet another aspect of the present invention, money is collected from customers during retail transactions with the retailer. The collected money is also deposited in the safe. The deposited money can be transferred from the safe to a second sealed cassette. The data file can also identify the total amount of money deposited in cash.

As yet another aspect of the present invention, the retailer receives a credit as identified by the amount indicated in the transmitted data file. The credit can be applied before checks and cash are physically withdrawn from the retailer's safe.

As yet another aspect of the present invention, the process further includes transferring the checks to a check processing facility, verifying the total cash value of the checks by the check processing facility to produce a verified amount, and adjusting the credit previously provided to the retailer based on the different, if any, between the verified quantity and the total calculated monetary value of the checks deposited in the safe as identified in the electronically transmitted data file.

According to another embodiment of the present invention, a process for providing credit to a retailer comprises collecting the customer's checks over several business days, depositing the collected checks in a safe at the retailer, calculating, at the end of each business day, a total monetary value of the checks that were deposited in the safe on each business day, and transmit electronically to the

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. 'end of each business day, a data file that identifies the total monetary value of the checks deposited on the respective business day. The retailer is credited with his check deposits based on the information contained in the transmitted data file.

Each of the aspects and characteristics summarized above is also applicable for this modality. In addition, the check collection schedule may be different, that is, it does not coincide with the end of the retailer's business day.

As an additional aspect, the data file identifies the total calculated monetary value broken down by business day. The retailer can also be provided with a report identifying the amounts of credit provided to the retailer on a business day basis.

According to another embodiment of the present invention, a process for providing credit to a retailer having multiple locations comprises collecting the checks by the retailer at its multiple locations, depositing the checks collected at each location in a safe located at the respective location, calculating a monetary value total checks deposited at each location, electronically transmit a data file for each location that identifies the total calculated monetary value of checks deposited at each location, receive all the data files transmitted electronically by one facility, and dispose of the facility for the retailer be provided by a financial institution with a total credit corresponding to the sum of the total monetary values of the checks deposited in the safe at all locations as identified in the data files.

All aspects and characteristics of the modalities summarized above are also applicable to this modality. In addition, for this modality, another

UÚ * aspect is to provide credit before the checks deposited in the vaults at each location are physically removed from the vaults. As another aspect of this modality, different locations of the retailer transmit data files at different times.

In accordance with another embodiment of the present invention, the invention is incorporated as an electronic system that includes a safe deposited at the retailer's location, where the safe has stored in it, checks that have been collected from customers over a period of time. The vault is designed to calculate the total monetary value of deposited checks and to electronically transmit a data file that identifies the total calculated monetary value of deposited checks to allow credit to be made to the retailer against the value of deposited checks.

the various aspects and characteristics summarized above, as well as method modalities, can also be applied to the system modality of the present invention. In addition, the system modality may involve multiple locations of the retailer as previously mentioned. Furthermore, the safe may include a scanner (attached to or inside the safe) to electronically scan each check deposited in the safe, a display (eg, monitor) (attached to or inside the safe) to display the scanned check in order to allow an employee to verify (for example, using a keyboard or other input device) that the scanned image is clear, and a printer (attached to or inside the safe) to print a receipt that contains a printed image of the check.

Various other objects, advantages and features of the present invention will be readily

'' Apparent to those skilled in the art from the detailed description of the invention below. Brief Description of the Drawings The following detailed description, given by way of example and not intended to limit the present invention exclusively to this, will be better appreciated in conjunction with the attached drawings, where similar reference numbers indicate similar elements and parts, in which: Figure 1 - is a block diagram showing multiple entities that may be involved in a collection process that incorporates the present invention; Figure 2 - is a schematic flow diagram that shows in general terms the process for early credit to retailers according to the present invention; Figure 3 - shows the Brink's CompuSafe 40008 safe, which can be used in the present invention; and Figure 4 - is a diagram useful to describe various features of the present invention.

Detailed Description of the Present Invention The present invention carries out the check control process at the storage level in the electronic age. As will be described, the present invention improves check processing, speeds up the availability of funds, improves cash flow and provides other features and benefits for merchants who routinely accept checks during the course of their business day.

The present invention involves scanning checks from personal customers and companies at the point of sale (for example, retail establishment) and facilitating and advancing bank credit to establish the retailer in the amount of financial transactions paid by

'. check.

As used herein, the "point of sale" or retail establishment means the physical location where a check (for example, personal check) is provided from an individual, such as a customer, usually in exchange for goods and / or services.

The retail establishment may be an entity that sells, rents or otherwise offers goods, such as a supermarket, clothing store, gas station, etc., or an entity that sells or otherwise provides services, such as a transport provider (for example, an airline, bus company, etc.), a spa / gym, a health care provider, a law firm, etc., or an entity that offers, rents or otherwise provides both goods and services.

At the retail establishment (sometimes referred to as “retailer” here for convenience), an individual typically pays for goods and / or services using cash (ie, coins, paper money), a credit card, a debit card, or check.

Many retailers, however, do not accept one or more of these types of payments for various reasons, such as inconvenience, high transaction processing fees, time-consuming processing, risk of failure (for example, a “bad check”) or other reason .

Of course, for multiple reasons, many retailers do not accept payment by check.

Other retailers discourage payment by check or impose restrictions on the use of checks, such as, for example, accepting checks only "from the square". As described here, the present invention provides a process / system that eliminates or minimizes a number of retail check control drawbacks, thereby allowing retailers improved convenience, better cash management and other benefits when accepting checks for payment of goods or services.

«'The term“ check ”(written“ check ”in several countries), as used here, refers to the common understanding of what a check is. More formally, a check is a non-negotiable instrument that authorizes a financial institution, such as a bank, to transfer to a specified entity, a designated amount of money from an account held at that financial institution. There are different types of checks. The most common type of check is an “order” check, which is payable only to the recipient. Other types of checks (or order check subtypes) include a bearer check (for example, payable "to bearer" or "cash"), a bank check, a certified check, a traveler's check, a money order , a postal order, etc. As provided here, a “check” can be any type of negotiable instrument.

Referring now to the drawings, Figure 1 is a block diagram showing multiple entities that may be involved in the financial collection processes that incorporate the present invention. The entities shown include a retailer 10, strong car service provider 20, money processing facility 30, a bank 40, process facilitator 50, and customer banks 60A, 60B and 60C. Additional entities may also be involved to assist one or more entities with their respective functions. In addition, a process incorporating the present invention may involve fewer entities than shown in Figure 1. Several operations of retailer 10 are discussed initially. The functions of the other entities shown in Figure 1 are then discussed.

Before describing the process / system of the invention, it is important to note that the typical check processing employed today implies an interval to

'' from when a check is received by a retailer until when the check is initially processed, and an even longer interval from which the check is received by the retailer until when the funds represented by the check become available for use by that retailer retailer.

For large “retailers who accept checks, checks collected on a daily basis can total tens of thousands of dollars, perhaps more.

These funds are not usable and are not remunerated until checks are deposited and financial institutions retain accounts after transferring funds to the retailer's bank account.

Even for companies that receive relatively few checks during each business day, the cumulative effect, for example, over a period of 12 months or not immediately enjoying the use of funds, results in a measurable and significant impact on such companies.

As described here, the present invention provides a new process / system for processing checks at the site. retailer's business (that is, at the point of sale) and advance credit to retailers in the amounts that correspond to the funds represented - by checks received by retailers during their business operations.

By advancing such credit, retailers are able to enjoy the benefit of the value of checks accepted almost immediately, thereby enabling retailers to immediately be remunerated in such funds or otherwise immediately use such funds in ways appropriate for the successful operations of the retailer.

Figure 2 of the drawings is a schematic flow diagram showing in general terms the check control process of the present invention.

Initially, during a financial transaction, a retailer 10 accepts a check, for example, from a paying customer for

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goods and / or services, as shown in step 100. As an example, a supermarket sales person (or employee) accepts from a customer a personal check for twenty-five dollars, made to the supermarket retailer, in exchange for a certain amount of edibles being purchased by that customer.

Then, during the financial transaction, the employee deposits the check on a digitizing device that scans (or "copies") the front of the check to produce an image file (also called a "check image file") representing the front of the check , as shown in step 110. The image file can be stored inside a digitizing device or anywhere.

The digitizing device is represented as digitizer 12 in Figure 1. oThe check, when scanned, is preferably stored (or “deposited”) in a secure storage compartment,

as shown in step 120 of Figure 2. In particular versions of the present invention, the check scanned and deposited in an electronic cash register, electronic safe, electronic drop safe or other electronic device (hereinafter, collectively, “safe” ) that includes both a scanning device and a secure storage area suitable for securely storing each check that is scanned.

This “safe” is represented as safe 14 in Figure 1. The digitizing device and the storage area can be integrated with the safe, that is, be components “arranged within the body of the safe. the scanning device and the storage area can be located as an accessory to the safe.

As another variation, the digitizing device can be external to the safe and the storage area is arranged inside the

'. safe box. In any event, the check can be scanned deposited in the safe during the transaction with the customer or after the transaction is completed. The safe also preferably has the ability to recognize the denomination of paper money (ie money) that is deposited within it and the ability to accumulate total money deposits over a predetermined period of time, such as a business day . In such a preferred safe, money is inserted into the acceptors of accounts that identify the deposited paper money, and the checks are inserted into a separate acceptor (“check acceptor”) which, in turn, digitizes the inserted check and subsequently stores the same. The vault also preferably has the ability to capture various information about the check from the scanned check including, for example, the payee, the check number, date, amount of money, and routing / account number. As an example, a suitable safe which can be employed with the process of the present invention described here is the Brink's CompuSafe 40008 safe which is additionally fitted with an image scanner. The Brink's CompuSafe 40008 safe is shown in Figure 3 of the drawings. Several features of the Brink's CompuSafe 40008 safe are discussed in US Patent Nos. 5,695,038; 5,975,275 and 5,944,163, which are assigned to the assignee of the present application and are incorporated by reference. At the Brink's CompuSafe 40008 safe and as discussed in the patents identified above, account acceptors inside the safe take the money and transfer the accepted money to sealed cassettes placed inside the safe, and a processor produces deposit reports that identify the contents of the sealed cassettes. The reports of

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'. deposits specifically identify content stored by denomination, total cash deposit, and other information.

When fitted with an appropriate and appropriately programmed scanning device, the Brink's CompuSafe 40008 safe, as an example, accepts the check, images on the side of the check (or on both sides of the check in another version) to produce an image file, stores The image file inside the internal memory, and transfers the scanned check to a sealed cassette placed inside the safe.

The processor inside the vault, in a particular version, is appropriately programmed to include deposit reports with information that also identifies the total value of all checks stored inside the vault (hereinafter “total check deposits”). Deposit reports can also include additional information about stored checks, including identifying the number of checks that are stored, the respective monetary amount of each of these checks, and the date / time of each check that was deposited.

Although the functions of the Brink's CompuSafe 40008 safe are particularly described here, and the Brink's CompuSsafe 40008 safe fitted with a digitizing device having the functions and features as described above is well suited to perform the various processes of the present invention, other “electronic devices having such functions can be employed.

For example, Brink's CompuSafe8 & 3000 series, adjusted with a digitizing device, can also be employed.

Other electronic devices, including those from other companies, can be used.

It is noted that the name Brink and the brand CompuSafe & are registered trademarks of Brink's Network, Inc., the assignee of this application. Returning to the flowchart shown in Figure 2, the financial transaction being completed is completed, as shown in step 130. During this conclusion, several activities can be implemented, including displaying the scanned image on a display device and verifying by the employee that the scanned image it is clear and easily readable. The display device can be incorporated into the safe, be incorporated into a fixed device, or be a completely separate device. At the end of the transaction, a preference receipt is printed (for example, by a fixed printer or a printing device integrated inside the safe) that includes information regarding the financial transaction and that also includes a printed image of the scanned check. The employee provides the customer with the printed receipt and the transaction is completed. During the course of the retailer's business day, additional financial transactions are processed, as represented by the arrow extending from step 130 to step 100 in Figure 2. Additional checks can be collected and collected checks are scanned and deposited in the retailer's vault in the manner described above. In cases where customers provide money as payment for goods or services, the retailer deposits the collected money in an appropriate cash receiving device, which can be the same safe in which the checks were deposited, that is, the safe described above ( transactions involving money not shown in Figure 2). Preferably, the safe holds both cash deposit totals and check deposit totals over the course of the business day. Each of the variations of the present invention, as

AND THE

'N described above, is described in the context of a retailer that employs a single device, such as an electronic safe that scans each check, stores the generated image file, and stores (deposits) the current check within a storage area. .

Money can also be deposited on the same device or on a separate device, as already discussed.

A retailer can also employ multiple safes having the features described above that are arranged within a single location or multiple safes that are arranged in multiple locations.

Regardless of the case, checks are scanned and deposited (and similarly, money is deposited) into each vault, and preferably the value of each deposited check (and deposited money) is kept by each vault.

At a certain point in each day, preferably (though not necessarily) at the retailer's business day close, the total deposits for each of the retailer's vaults are calculated, as shown in step 140 in Figure 2. In the supermarket example above , if the supermarket had a single location with two safes, the total deposit amounts of the two safes are obtained to identify both the total monetary value of the checks that were collected and the total amount of money that was collected by the retailer during the course of the day useful.

For retailers with multiple locations, the total deposit amounts for all vaults within all retailer's locations are obtained.

In one variation, the total deposit amounts from the vaults at a selected number of retailer locations are obtained.

For example, a retailer with stores in different parts of a country (for example, both on the east coast and the west coast of the US), or in different countries, may wish to employ the process of

'' present invention separately for its stores in such different areas. In any of the examples provided above, it is appreciated that the monetary value of the checks collected and the amount of money collected by a retailer is generally a function of the retailer's size, the number of locations (e.g. retail stores) of the retailer, the types of goods / services that are provided, the relative amount of credit / debit card usage by the retailer's customers, and other factors. As illustrated here, the inventive process for advancing credit to retailers can be applied to retailers of any size that accept payment by check (and / or cash). As mentioned above, total deposits are calculated at a certain time of the day. The time of day can be defined by the retailer's standard closing time of the business day, or the respective end of the business day store. The time can be identified manually each day. For example, an employee of the retailer can manually instruct the safe to "close" the business day. In addition, another time can be selected that does not coincide with the retailer's business day. In another variation, the Total deposits are calculated every other day, every three days, or in other periods of time. Yet another variation, the total deposits are calculated on a full day basis, that is, the total deposits are calculated several times in a given day, so the process described here is carried out several times on that day. In either case, the total deposits are calculated (or calculated / maintained by the vaults during the course of the retailer's operations) at a given point in time. For convenience, and without limiting the description for calculating total deposits at the current end of a business day or

ONA o. retailer's calendar, the time point at which total deposits are calculated is now referred to generally as the “end of day”. When calculating deposit totals at the end of the day, the vault at a retailer's location (for example, 10a shown in Figure 1) creates a data file that contains the total deposits at that location and electronically transmits the data file created and the image and check file stored in a process facilitator, such as process facilitator 50 shown in Figure 1. The creation and transmission of the data file of the check data and image files are represented as step 150 in Figure 2. Similarly, each vault at each of the retailer's locations (for example 10b, 10c) creates a respective data file that contains the total deposits at that location and transmits the data file and the stored check image files in this respective location for the process facilitator 50. In a variation of this represented by step 150 as described above, the retailer's vault (or vault for multiple locations) transmits the data and files stored checks, either once at the end of the day or periodically throughout the day, to another system within or controlled by the retailer 10, such as a computer system, to enable another system to create a data file, which is then transmitted along with check image files to process facilitator 50. Check image and data files can be transmitted to a temporary electronic storage medium located at retailer 10, or can be transmitted securely, for example, to the retailer's primary processing facility 10 (for example, over the internet, through a website, etc.). Check data and / or image files can be transmitted multiple times and periodically, for example, on each business day from the retailer's safe, either directly or indirectly, to a system on the Or controlled by the retailer or to a system not or controlled by process facilitator 50.

The vault (or safes for multiple locations) at retailer 10 transmits the total monetary value of checks deposited, the value of each check, the check image files, as well as the total amount of money that has been collected since the previous transmission of the safe box. Then, the system to which all transmissions are sent calculates, based on all transmissions, the total deposit amounts for this vault at retailer 10. In yet another variation, one or more computer systems controlled by retailer 10 or, alternatively , controlled “by process facilitator 50 remotely accesses the retailer's coffers, pulling deposit totals, check amount data, check image files and other data at predetermined times.

Process facilitator 50 includes an appropriately programmed computing system (or systems) that receives the transmitted files electronically. Transmission can take place in any known way, such as via the Internet, telephone system, private communications network or other appropriate form. Preferably, transmissions are encrypted to ensure appropriate security and privacy. Since the transmission and encryption of electronic data, as well as the hardware / software that perform such transmission and encryption, are well known, another description of them is omitted here except where necessary for an understanding of the present invention.

TOS

The computer system in process facilitator 50 collects and accumulates check and cash deposit totals and check image files from all retailer 10 locations (for example, 10a, 10b, 10c, etc.) based on information contained in the files transmitted from each location. Process facilitator 50 processes each transmitted file when received or at the precise times. Upon receiving transmissions from all retailer 50 locations, process facilitator 50 calculates total check and cash deposits for all locations. Finding the check data and image files, and calculating (accumulating) the total check and cash deposits for retailer 10 during this particular business day / time period is represented as step 160 in Figure 2. When calculating check deposits and cash totals for all retailer locations 10, over the relevant time period, process facilitator 50 electronically transmits an encrypted data file containing the total deposit information, along with the identification information of the retailer 10 (also called “credit data” here) for bank 40, as represented as step 170 in Figure 2. Bank 40 (or another type of financial institute, collectively referred to here as a “bank”) processes the data credit cards (for example, performs identity verification and other security controls as is well known) and credits the retailer's bank account 10 with total checks and money deposits identified, as represented by step 180 in Figure 2. Still in a variation, the files discussed above are transmitted from retailer 10 to bank 40, which in turn performs the functions described here for process facilitator 50 and

ESA then credits retailer 10 based on the verification of the check deposit and total cash. In general, bank 40 and process facilitator 50 preferably enter into a contractual relationship to facilitate the credit described here for retailer 10 of funds in the amount of retailer's total deposits 10.

In addition to facilitating the advance of credit to retailers for their check and cash deposits, in a particularly preferred embodiment of the present invention, each of the checks deposited is also processed by the process facilitator 50 using the check image files that were transmitted to from retailer 10. As represented by step 190 in Figure 2, process facilitator 50 performs electronic processing of scanned checks (ie check image files). In such a preferred embodiment, the process facilitator implements all the processing of the digitized checks necessary to withdraw funds from accounts held by customers (for example, at customer banks 60A, 60B, 60C shown in Figure 1). The process facilitator can perform any electronic conversion process accepted in the industry, including, as an example only, Back Office Conversion (BAC) in which accepted checks are converted into ACH debits. Since the requirements and operations for processing a check are well known, a description of them is not provided except where necessary for an understanding of the present invention. After scanned checks are processed, current checks collected by retailer 10 can be destroyed by the retailer (for example, 7 business days after receipt) or delivered to another entity for storage or destruction. Similarly, check image files stored by retailer 10 can be deleted after a pre-set period of time after collection or processing (for example, 10 business days after receipt). In variations of the invention that do not electronically process check image files to extract funds from customer accounts, any legally acceptable mode of check control can be employed, including as an exemplary deposit of a customer check at the bank handling the check. account (that is, On-Us check). Other appropriate check control processes can be employed.

As already mentioned, retailer 10 can have multiple locations (for example, 10a, 10b, 10c), where a safe (or other device) at each location calculates the total check and cash deposits at the respective location at the end of the day identified and then creates and transmits to the process facilitator 50 a respective data file with the total information of the deposits (together with appropriate retailer's location identification data and the check image files). The “end of the day” for each location can occur at the same time or it can occur at different times of the day. For retailers with a relatively large number of stores located, for example, across an entire country or region, different locations are likely to have different "end of day" times. For example, certain retailer locations may have different operating times, may have the same operating times, but operate in different time zones, or a combination of the two.

The inventive process described here for advancing credit for checks, as well as cash collections, is beneficially well suited for large-scale retailers having many locations with different operating times. The vaults in each location accumulate the totals of BE REA SAE A SOR Ea ar Sa A ARES CAs SA tada ia to SETA DR si Gai from SA ISS create your checks and cash for the respective location and at a projected “end of the day” for that location creates a data file that contains the total deposits for that location. During a course of, for example, a 24-hour time period, process facilitator 50 receives these data files, as well as check image files, from the different retailer locations and calculates a deposit total for all and transfers this total to the retailer's bank, which in turn credits the retailer's bank account with this total.

Figure 4 is a diagram that is used to explain the operation of the present invention by implying a retailer with multiple locations and where different locations have different end of day. For example, and referring to Figure 4, an exemplary retailer has a number of “X” store locations that end at 6:00 pm (each location identified here as an “X location”). The exemplary retailer also has a number of other “Y” store locations that end at 9:00 pm (each location identified as a “Y location” ”). Finally, the exemplary retailer still has a number of “2” locations that have an end of day at 12:00 am (ie, midnight) (each location identified here as a “Z location”). In accordance with the present invention, or on any given business day, such as January 5, a safe (or safes) at each location X clears at the end of the day from 6:00 pm the amount of checks and money collected between 6:00 pm on the previous business day of January 4 and 6:00 pm of the current business day of January 5. Then, the counted amount of checks and money collected during this period of time is identified within a data file that is transmitted, along with the check image files, to an account facilitator. Similarly, on the same day, that is, on January 5, a safe deposit box at each location Y clears at ERA Ada donates Ada ASS BASS SR SAS tas craIa SA DEa DU ES SS AS Sto is Ss AA Aa aa do as it

9:00 pm (that is, at the “end of the day” of each location Y) the total amount of checks and money collected at this location between 9:00 pm on the previous business day of January 4 and 9:00 pm of that day, and that total amount is transmitted to the process facilitator. A safe deposit box at each Z location clears at 12:00 am (that is, at the “end of day” of each Z location) on January 6, the total amount of checks and money that were collected at that location between 12:00 pm from previous business day of January 5 and 12:00 am of this business day of January 6, and the total amount determined is transmitted to the process facilitator. The process facilitator then adds the reported quantities and arranges for a bank to credit the retailer with the added amount.

As illustrated in the example above, the retailer can be provided with a credit every day based on the check and cash collections that take place during different periods of time at the different locations of the retailer's stores. Each end of day can represent the time that a respective retailer's location closes. Or, one or more retailer locations may close at a time that differs from the respective end of day of the location. Also, one or more retailer locations can be open 24 hours, that is, not be closed at all. In such cases, a credit may be provided for checks and cash collected at one location at the end of this business day, while a credit may be provided for checks and cash collected at another location at the end of the next business day. For example, cash and checks collected at 8:00 pm at a Y location on January 5 will be credited to the retailer at the end of this business day (that is, the end of January 5). However, checks and cash collected at 8:00 pm at a location X on January 5 will not be credited to the retailer until the end of the next business day, that is, January 6.

If this is not desired, then the “end of the day” of particular locations can be modified.

But in any case, it should be noted that the inventive process described here for advancing credit for collections of checks and cash is flexible enough to accommodate retailer locations that have different operating schedules, operating in different time zones, who may have different cash flow needs, and / or who may or may wish to have different end-of-day times.

In each of these cases, the present invention allows retailers to receive credit on a basis that is more closely aligned with the volume of their checks and cash collections, and that is not dictated by the program in which physical checks and cash are collected for deposit with a bank or other third party program, as discussed below.

As described here, process facilitator 50 receives data files that collectively identify collections (checks and cash) at all locations of the retailer and then ascertains the total credit to be provided to the retailer (for example, for this business day) . In one variation, process facilitator 50 can impose a predefined cut-off time by which files from all retailer locations must be received.

Then, at the time of the cut, process facilitator 50 calculates the total check and cash deposits for the locations that transmitted the respective files and transmits that total deposit information to bank 40 for subsequent credit to retailer 10 in the indicated amount.

In this case, the credit advance is still provided even if all retailer locations are unable, for whatever reason, to transmit the files to the process facilitator 50.

As an example, technical difficulties at a location may prevent or otherwise delay appropriate processing at that location. Regardless of the case, the present invention provides credit advances for all, or at least part, of the retailer's checks and cash deposits. If only a portion of the retailer's deposits is credited, unreported deposits can be credited at a later time, such as at the end of the next "end of day".

As mentioned above, the inventive process described here for advancing credit for check and cash collections accelerates the availability of funds for a retailer. As described above, the “end of the day” occurs at a certain point in time. In this case, the retailer is credited once a day for checks and cash that are usually collected during the previous 24-hour period. The process described here, however, can be performed several times in a day, such as every 12 h. Conversely, the process can be performed less than once a day, just like every other day. For example, smaller retailers (for example, with only a single location or a few locations) can accumulate relatively few checks (or checks of small value) and / or little money per day and thus perform the process in two or two every three days may be sufficient for such smaller retailers.

In yet another variation, a retailer with multiple locations can, in a sense, be treated as multiple retailers. For example, credit can be provided after the retailer's locations in a part of the country report their deposit totals, and then separately, credit is provided after the retailer's other locations report their deposit totals. Such a subdivision can be based on geographic criteria or another basis.

In each of the variants described here, a retailer is credited with the total deposits accumulated over a period of time (for example, each business day) based on the total deposits as reported by each of the retailer's locations. Consequently, the present invention allows a retailer to enjoy the benefit of the value of checks accepted and their cash receipts immediately after the collection of checks and money from their customers. Current checks and cash, however, still remain at the retailer's location (s) even after the retailer is credited with receipts. Copending order serial number 12 / 178,109, filed on August 23, 2008, entitled “Process of and System for Facilitating Cash Collections Deposits and Deposit Tracking”, owned by the assignee of this request and incorporated into the present by reference, is directed to facilitate new cash collection deposits (ie, control of physical money itself) and track the deposit and such processes or parts of such a process can be employed in conjunction with the inventive process described here for check collection credit advance and money. Regardless of whether the invention described in copying order serial number 12 / 178,109 is employed, generally a strong car service provider 20 (Figure 1) collects cash deposits from the retailer and possibly checks collected in the pre-set periods of time (for example, daily, twice a day, every other day, weekly, etc.) and transports deposits collected to one processing facility (for example, “money processing facility 30 shown in Figure 1) to another control. As used here, a strong car service refers to any entity that collects deposits and / or collected checks, and includes courier or message services (including government and private postal delivery services) that employ strong cars or not.

In addition, cash deposits and collected checks can be delivered together or separately to the same processing facility or can be delivered to different processing facilities.

For example, check deposits can be collected by a strong car service, which in turn transports the collected money to a cash processing facility, and separately collected checks are collected by a courier service and delivered to a bank (or other financial or non-financial institution). As described here, any reference for collecting or delivering deposits of checks and collected checks includes any of the collection / delivery variations identified above.

According to the present invention, the credit as described here need not coincide with a business day.

In addition, and as mentioned above, a retailer is credited with his checks and cash collections in advance, sometimes several days or more before, when the checks are processed, when the monetary funds represented by the checks become available for use by the retailer and / or when the current money reaches the bank.

As a particularly beneficial feature of the present invention, a retailer may be provided with credit for his checks and cash collections on a more frequent basis than when collections are collected, for example, by a strong car service and / or when checks are delivered to a check processing facility (for example, bank or other facility). For example, for relatively small retailers, the retailer's deposits are collected every other day or every three days, or based on a cash volume basis, or based on other bases, where the retailer can be credited according to the present invention with its checks and cash collections on a daily basis. In this case, a retailer obtains the daily credit benefit without incurring a daily collection expense. Thus, the present invention disassociates the time and frequency of a retailer's collection program from the time and frequency when that retailer is credited for his collections. More specifically, a retailer is able to enjoy the benefit of his collections on a basis that is independent of when these collections are currently collected, when the checks are processed, when the funds represented by the checks become available for use by the retailer, when money is processed (for example, by a third-party money processing facility) or when the money is deposited in a bank.

As described, retailer 10 is credited with its collections based on a schedule that is independent of the schedule in which the collected money and / or checks are delivered to the processing facility. For example, the strong car service provider 20 collects collections from the retailer 10 at pre-set time periods (for example, daily, twice a day, every other day, weekly, etc.) and transports the collections, preferably stored in safe deposit bags for one processing facility (e.g., money processing facility 30 shown in Figure 1) for another control. Alternatively, a retailer can manually schedule a pickup per strong car service provider 20. Regardless of whether pickups are pre-programmed or manually scheduled, the retailer is provided with a credit advance for their check and cash collections shortly after the checkout. retailer receive the checks and cash.

The cash processing facility 30, upon receiving the deposit bags (i.e., the collected cash and / or checks), checks the contents of the deposit bags. Such verification can take place at any time after receipt, but does not need to occur on the same day that the deposit bags are received. For example, verification can take place on the next business day (or calendar) or even at a future date. In any case, the verification involves identifying the deposit bags, opening the deposit bags, removing the money / checks contained within the deposit bags and counting the money and / or checks to verify that the contents of the current values of cash and / or checks matches the deposit detail information provided by retailer 10 (called “verification” here).

During verification, if the cash processing facility 30 discovers a surplus or shortage in the amount of money and / or the value of the checks contained in the deposit bag (s) when compared to the previously reported deposit amounts by retailer 10 and previously credited to retailer 10 in accordance with the present invention, such surplus / shortage is reported to bank 40 to correct the amount of credit previously provided to retailer 10.

Finally, the money is transferred to the bank

40. The cash processing facility 30 (or bank 40 or process facilitator 50) transmits to the retailer 10 a report (for example, an electronic file) that identifies the current cash and check deposit information for the retailer 10 to use for reconciliation, tax and other purposes. The report can be a report of what happens in less than 24 hours, a daily report, a weekly report, a monthly report, etc.

According to a particularly beneficial feature of the present invention, the information transmitted to the retailer 10 includes accounting for the particular business day or business days for which the credit is applied, including a breakdown of credit by business day. In this case, if an amount of deposits identified in a data file transmitted from one of the retailer's vaults corresponds to checks and cash collected over several business days, then the preference data file includes a breakdown by business day of the respective quantities collected during each of these working days. For example, with reference to Figure 4, an “X” location has an end of the day at 6:00 pm as shown, but is open 24 hours a day. If, for example, the retailer's business day coincides with a calendar day, then at 6:00 pm on January 5, a data file is created (for example, by the vault) and then transmitted to this location that identifies the total amount (ie checks and cash) collected from 6:00 pm on January 4 until 12:00 am on January 5, and separately identifies the total amount collected from 12:00 am until 6:00 pm on 5 of January. With such information transmitted, the total amount of credit provided to the retailer is applied on a business day basis. Then, at the next end of the day at 6:00 pm on January 6, another data file is created and transmitted to this location that identifies the total amount collected between 6:00 pm from January 5 until 12:00 am January 6, and separately identifies the total amount collected from 12:00 am until 6:00 pm on January 6, and Credit is provided accordingly. From the example above, the total amount of credit provided for the January 5 business day is based on a first transmission (on or shortly after 6:00 pm on January 5) that identifies a partial collection on January 5 ( that is, money and checks collected from 12:00 am until 6:00 pm) and a second transmission (on or shortly after 6:00 pm on January 6) that identifies another partial collection on January 5 (ie, money and checks collected from 6:00 pm until 11:59 pm). Consequently, credit reports are provided to the retailer who identifies the credit provided on a business day basis, without the need for a single transmission (from the retailer) to identify collections during each full business day. Patents No. 5,695,038; 5,975,275 and 5,944,163, previously identified, discuss the business day report in the context of producing reports that identify separate collections for each partial business day and each complete business day. Thus, safes with such capacity, such as the Brink's CompuSafe 40000 safe, can be employed with the present invention to provide the additional feature described above for allocating and reporting credit on a business day basis.

The features and variations described here can be applied in cases where a retailer's business day coincides with the end of the day, or where the business day does not coincide with the end of the day, where the business day coincides or not with a calendar day, and / or where the end of the day coincides or not with the day on the calendar.

In addition to the above information provided to the retailer, the retailer can additionally access the process facilitator's system / database 50 to track the retailer's deposits, produce reports, view DAIRE ro AS AS fo SAS A DA A RSA dra a AND IF asa sa sa historical information including exceptions and variations, and receive statistical information including total expected daily deposits.

For retailers with multiple locations, various data and reports are produced on a store-to-store basis, if desired, to allow individual stores to access their own deposit / credit activity.

In addition, credit and deposit report data is available to the retailer on a store-to-store basis, selected group of stores, or from the entire entity, immediately or almost immediately after the retailer's collection and / or credit with such collection.

As the above description describes, the present invention accelerates the availability of funds, including improved cash flow and provides other features and benefits to merchants that receive checks and cash as part of their normal business operations.

In particular, the credit advance is provided to retailers in new ways that allow retailers to enjoy the benefit of check and cash collections almost immediately, without having to wait for checks to be deposited or otherwise delivered to a processing facility or expect collections to be collected by strong car service providers, and then processed by third-party money processing facilities and then eventually deposited in and / or otherwise processed by a bank.

Such post-collection activity commonly takes several days, if not more, during which time retailers have historically been unable to use the funds that have been collected.

Retailers, both large and small, lose their advantage over this latency period.

The present invention, however, enables retailers to enjoy the benefit of their collections soon after checks and cash are received. These benefits are realized independently of the collection programs, cashier cut windows and other programs controlled by third parties.

Having described the present invention including various features and variations thereof, it is intended that the appended claims be interpreted as including the modalities described here, the alternatives mentioned above and all equivalents thereof.

Claims (33)

1. Process for providing credit to a retailer for collections occurring during financial transactions with a retailer, comprising the steps of: - collecting checks from customers by a retailer during financial transactions between customers and the retailer over a period of time; - deposit the collected checks in at least one safe deposited at the retailer; - calculate, at a designated time, a total monetary value of the checks deposited in the safe during the period of time; and —- electronically transmit at least one data file containing data identifying the total calculated monetary value of the checks over the period of time to enable the retailer's credit by a financial institution with the identified total calculated monetary value of the checks. 2. Process according to claim 1, also comprising electronically scanning each of the checks deposited in the safe to produce image data; and where at least one data file includes the image data. 3. Process, according to claim 2, in which each check is electronically scanned during the respective financial transaction in which the respective check is collected by the retailer from a customer. 4, Process according to claim 3, also comprising, during each financial transaction during which a check is collected from a customer by the retailer, displaying on a monitor arranged in or attached to the safe, an image of the check electronically scanned as represented image data; and receive a check from a retailer employee that the image on the monitor is readable. 5. Process according to claim 3, also comprising providing the customer with a printed receipt containing a printed image of the check electronically scanned at the end of a financial transaction in which a check is collected from the customer by the retailer. 6. Process according to claim 2, in which electronically scanning each check includes obtaining electronically from a scanned check an identity of a beneficiary on the check and a monetary value of the check; and at least one data file includes - data identifying the beneficiary's obtained identity and the monetary value of the scanned check. 7. Process according to claim 6, in which obtaining electronically includes obtaining electronically a check number on the check, a date identified on the check and a routing / account number on the check; and at least one data file includes data identifying the check number obtained, date and the routing / account number. 8. Process according to claim 1, also comprising electronically scanning both sides of each of the checks deposited in the safe to produce image data; and where at least one data file includes the image data. 9. Process according to claim 1, in which the step of depositing collected checks comprises electronically scanning each of the checks during deposit in the vault, producing the image data representing each scanned check, and transferring the scanned checks into one sealed cassette disposed inside the safe, at least one data file including the image data of each scanned check. 10. Process according to claim 9, in which at least one data file includes data identifying a number of checks transferred in the sealed cassette disposed within the safe, a monetary value of each of the checks transferred in the sealed cassette, and a respective date and time of deposit of each of the checks in the safe. 11. Process according to claim 9, also comprising collecting money from customers by the retailer during other financial transactions during the period of time, and depositing the money collected in a second sealed cassette disposed inside the safe in which the collected checks are deposited . A process according to claim 11, also comprising calculating a total monetary amount of money deposited in the safe during the period of time; and in which at least one data file includes data identifying the total calculated monetary amount of money. 13. Process, according to claim 1, comprising “also the steps of receiving, via an installation, the data file transmitted electronically; and have the facility to credit the retailer by the financial institution with the total monetary value calculated from the checks collected by the retailer as identified in the data file. 14. Process, according to claim 13, in which having the facility to credit to the retailer by the financial institution occurs before the checks deposited in the safe are physically removed from the safe. 15. Process according to claim 13, also comprising the steps of transferring the checks deposited in the vault to a check processing facility, verifying by the check processing facility the total monetary value of the checks to produce a verified amount; and adjust the credit previously provided to the retailer based on the differences, if any, between the verified amount and the total calculated monetary value of the checks deposited in the safe as identified in the electronically transmitted data file. 16. Process to provide credit to a retailer for collections occurring during financial transactions with the retailer, comprising the steps of: - collecting customer checks by a retailer during financial transactions between customers and the retailer during a plurality of business days; - deposit collected checks in a safe deposited at the retailer; - calculate, at the end of the day for each business day, a total monetary value of the checks deposited in the safe between the end of the day of a business day preceding the respective business day and the end of the day for the respective business day; and - transmit electronically, at the end of each working day, a respective data file identifying the respective total monetary value calculated to enable the respective credit of the retailer by a financial institution with the respective total monetary value calculated. 17. Process according to claim 16, in which depositing checks collected in at least one safe includes electronically scanning each of the checks deposited in the safe to produce image data; and in which at least one data file includes the data of TOS image. 18. Process according to claim 17, also comprising, during each financial transaction during which a check is collected from a customer by the retailer, displaying on a monitor arranged in or attached to the safe, an image of the check electronically scanned as represented image data; and receive a check from a retailer employee that the image on the monitor is readable. 19. Process according to claim 17, also comprising providing the customer with a printed receipt containing a printed image of the check electronically scanned at the end of a financial transaction in which a check is collected from the customer by the retailer. 20. Process, according to claim 16, comprising “also the steps of receiving by a facility, on each of the working days, the respective data file transmitted electronically; and have the facility to credit to the retailer by the financial institution with the respective calculated total monetary value. 21. Process according to claim 16, in which checks deposited in the vault for a plurality of working days are not removed from the vault during the plurality of working days. 22. The process of claim 16, also comprising collecting checks deposited in the safe according to a collection schedule; and where the end of the day does not coincide with the collection schedule. 23. Process according to claim 16, in which each data file identifies the total calculated monetary value broken down by business day, including a THIS total monetary value of checks deposited in the vault between the end of the preceding business day until the end of the previous business day, and a total monetary value of checks deposited in the vault between the beginning of the respective business day and the end of the day for the respective day useful. 24. Process, according to claim 23, also comprising the steps of receiving an installation, on each of the working days, the respective data file transmitted electronically; and have the facility to credit the retailer by the financial institution on a business day basis based on the respective total monetary values calculated in the respective data file transmitted electronically. 25. Process according to claim 24, also comprising the step of providing the retailer with a report identifying the amounts of credit provided to the retailer on a business day basis. 26. Process for providing credit to a retailer for collections occurring during financial transactions with the retailer, comprising the steps of: - collecting checks by a retailer in a plurality of retailer's locations over a period of time; - deposit the collected checks in each of the locations in the vaults respectively arranged in the retailer's locations; - calculate a respective total monetary value of the checks deposited in the respective safe in each of the retailer's locations over a period of time; - transmit electronically, for each retailer's location, a respective data file identifying the respective total calculated monetary value of the checks deposited in each of the retailer's locations; THESE - receive, by installation, all data files transmitted electronically; and - have the facility for the retailer to be provided by a financial institution with a total credit corresponding to a sum of the total calculated monetary values deposited in the vaults at each of the retailer's locations as identified in the data files received. 27. Process, according to claim 26, in which having the facility for the retailer to be provided by the financial institution with a full credit occurs before the checks deposited in the vaults are physically removed from the vaults. 28. Process, according to claim 26, in which the calculation of a respective total monetary value of the checks deposited in the respective safe in each of the retailer's locations is carried out at a respective time designated for each of the retailer's locations, and a time designated for a first of the retailer's locations is substantially different from a time designated for a second of the retailer's locations. 29. Electronic system, comprising: - a safe deposited in a retailer's location, the safe having stored in it a plurality of checks collected by a retailer over a period of time, the safe being adapted to calculate a total monetary value of checks deposited in the vault over a period of time, and adapted to electronically transmit a data file identifying the total calculated monetary value of checks deposited in the vault over a period of time to enable the retailer's credit by a financial institution with the total calculated monetary value of the checks deposited in the vault as identified in the data file. 30. The system of claim 29, also comprising a scanner associated with the safe to electronically scan each of the checks deposited in the safe to produce image data; and the data file includes the image data. 31. The system of claim 30, also comprising a monitor associated with the safe for displaying an image of one of the electronically scanned checks as represented by the image data; and an input device for receiving a check from an employee of the retailer indicating that the image on the monitor is readable. 32. The system of claim 30, also comprising a printer associated with the safe for printing a receipt containing a printed image of one of the checks scanned electronically at the end of a financial transaction in which the respective check was collected from a customer by retailer. 33. System for providing credit to a retailer for collections occurring during financial transactions with the retailer, comprising: - a plurality of checks collected by a retailer in a plurality of retailer's locations; - a plurality of safes, each of the safes arranged in a respective of a plurality of retailer's locations, the checks collected in each of the plurality of retailer's locations being deposited in a respective safe corresponding to the plurality of safes, each of the safes being adapted to calculate the respective total monetary value of the checks deposited in the respective safe and adapted to electronically transmit a respective data file identifying the respective calculated total monetary value deposited in each of the retailer's locations; and - a device for receiving all data files transmitted electronically, the device adapted to organize for the retailer to be provided with BR a total credit corresponding to a sum of the total monetary values calculated from the checks deposited in the vaults at each of the retailer's locations , as identified in the received data files. tr 1/4 60A 60B 60C BANK OF BANK OF BANK OF CLIENT CLIENT CLIENT 40 N. 10 10th retailer LT 19% BANK LT 100 CIC) 50 NX. TR FACILITATOR IN PROCESS 7 N. 20 SERVICE FACILITY STRONG MONEY CAR PROCESSING | FIGURE 1 "Nr 2/4 100 ACCEPT CHECK 110 SCANNING CHECK 120 DEPOSIT CHECK IN THE SAFE 130 140 TOTAL CAL DEAL TRANSACTION Er DEPOSITS 150 CREATE DATA & FILES IMAGE CHECK 170 160 190 TRANSMIT DATA PROCESS CREDIT TO COLLECT CHECK DATA THE BANK ALL SCANNED LOCATIONS 180 CREDIT RETAILER FIGU 2 EE 3/4 FIGURE 3 o n ” BR DJ EE Ss Z OS Ss Ss = uu O a E o P oo & O &: ê the SS es Zz õ E and õ $ & o wu aaroooo "OE É Ss w A ões Zz SO ES <gouoo E orooox> N FIGURE 4