Classifications

• • G—PHYSICS
  • G06—COMPUTING OR CALCULATING; COUNTING
  • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
  • G06Q40/00—Finance; Insurance; Tax strategies; Processing of corporate or income taxes
  • G06Q40/02—Banking, e.g. interest calculation or account maintenance
• • G—PHYSICS
  • G06—COMPUTING OR CALCULATING; COUNTING
  • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
  • G06Q20/00—Payment architectures, schemes or protocols
  • G06Q20/08—Payment architectures
  • G06Q20/10—Payment architectures specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• • G—PHYSICS
  • G06—COMPUTING OR CALCULATING; COUNTING
  • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
  • G06Q20/00—Payment architectures, schemes or protocols
  • G06Q20/08—Payment architectures
  • G06Q20/10—Payment architectures specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
  • G06Q20/108—Remote banking, e.g. home banking
  • G06Q20/1085—Remote banking, e.g. home banking involving automatic teller machines [ATMs]
• • G—PHYSICS
  • G06—COMPUTING OR CALCULATING; COUNTING
  • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
  • G06Q30/00—Commerce
  • G06Q30/06—Buying, selling or leasing transactions

Definitions

• the present invention relates to computerized cash management generally.
• an electronic cash management methodology including providing a plurality of electronic cash safes each associated with a communicator, upon receipt of cash into one of the plurality of cash safes, employing the communicator for providing a computer network notification from the one of the plurality of electronic cash safes indicating receipt of the cash and at least partially identifying a product sold in return for the cash, responsive to at least one of the computer network notification from the communicator, effecting payment to a supplier of the product by a financial institution having physical control of the cash safe, accruing non-loan interest payable from an operator of the one of the plurality of electronic cash safes to the financial institution in respect of the payment as from the time of the effecting payment, collecting the cash from the cash safe on behalf of the financial institution and depositing the cash to the account of the financial institution, terminating the accruing non-loan interest upon the depositing the cash to the extent
• the providing a plurality of electronic cash safes each associated with a communicator includes providing at least one of electronic vending machines and electronic kiosks.
• the providing a plurality of electronic cash safes each associated with a communicator includes providing data communications functionality for data communication to and from a computerized point of sale.
• the computer network notification is communicated via a computerized point of sale operator's computer to at least one of the supplier and the financial institution.
• the financial institution is a vault cash manager.
• the payment by the operator of the one of the plurality of electronic cash safes of accrued non-loan interest in respect of the payment by the financial institution having control of the cash safe is effected by remitting by the financial institution to the operator of the proceeds of the cash collected from the cash safe and deposited to the account of the financial institution less at least payments by the financial institution to the supplier and less accrued non-loan interest due to the financial institution.
• the electronic cash management system also includes providing ATM functionality.
• the providing ATM functionality employs' at least some of the cash received into one of the plurality of cash safes.
• the product includes at least one of a pre-paid telephone calling card, train ticket, stored value card, bill paying services, stored value card topping-up services and printable tickets.
• an electronic vending machine methodology including providing a plurality of electronic vending machines, each having a cash safe and a communicator, upon receipt of cash into the cash safe at one of the plurality of electronic vending machines employing the communicator for providing a computer network notification from the one of the plurality of electronic vending machines indicating receipt of the cash and at least partially identifying a product sold in return for the cash, responsive to at least one of the computer network notification from the communicator, effecting payment to a supplier of the product by a financial institution having physical control of the cash safe, accruing non-loan interest payable from an operator of the one of the plurality of electronic vending machines to the financial institution in respect of the payment as from the time of the effecting payment, collecting the cash from the cash safe of the one of the plurality of electronic vending machines on behalf of the financial institution and depositing the cash to the account of the financial institution, terminating the accruing non-loan interest upon the depositing the cash to the extent that the cash
• the providing a plurality of electronic vending machines includes providing at least one electronic vending machine having a locked cash vault which is not under the control of the operator.
• the providing a plurality of electronic cash safes includes providing data communications functionality for data communication to and from a computerized point of sale.
• an electronic cash management system including a plurality of computerized points of sale including electronic cash safes each associated with a communicator, the communicator being operative, upon receipt of cash into one of the plurality of cash safes, employing the communicator for providing a computer network notification from the one of the plurality of electronic cash safes indicating receipt of the cash and at least partially identifying a product sold in return for the cash, a vault cash server, responsive to at least one of the computer network notification from the communicator, for effecting payment to a supplier of the product by a financial institution having physical control of the cash safe, non-loan interest accrual functionality accruing non-loan interest payable from an operator of the one of the plurality of electronic cash safes to the financial institution in respect of the payment to the supplier as from the time of the effecting payment and terminating the accruing non-loan interest upon collecting the cash from the cash safe on behalf of the financial institution and depositing the cash to the account of the financial institution to
• the plurality of computerized points of sale include at least one of electronic vending machines and electronic kiosks.
• the plurality of electronic cash safes each associated with a communicator include data communications functionality for data communication to and from at least one of the plurality of computerized points of sale.
• the electronic cash management system also includes providing ATM functionality.
• the ATM functionality employs a bill recycler for utilizing at least some of the cash received into one of the plurality of cash safes.
• an electronic cash management methodology including providing a plurality of electronic cash safes each associated with a communicator, upon receipt of cash into one of the plurality of cash safes, employing the communicator for providing a computer network notification from the one of the plurality of electronic cash safes indicating receipt of the cash and at least partially identifying a product sold in return for the cash, responsive to at least one of the computer network notification from the communicator, effecting payment to a supplier of the product by a financial institution having physical control of the cash safe, establishing a non-loan payment obligation payable from an operator of the one of the plurality of electronic cash safes to the financial institution in respect of the payment upon the effecting payment, collecting the cash from the cash safe on behalf of the financial institution and depositing the cash to the account of the financial institution and payment by the operator of the one of the plurality of electronic cash safes of the non-loan payment to the financial institution having control of the cash safe.
• an electronic vending machine methodology including providing a plurality of electronic vending machines, each having a cash safe and a communicator, upon receipt of cash into the cash safe at one of the plurality of electronic vending machines employing the communicator for providing a computer network notification from the one of the plurality of electronic vending machines indicating receipt of the cash and at least partially identifying a product sold in return for the cash, responsive to at least one of the computer network notification from the communicator, effecting payment to a supplier of the product by a financial institution having physical control of the cash safe, establishing a non-loan payment obligation payable from an operator of the one of the plurality of electronic vending machines to the financial institution in respect of the payment upon the effecting payment, collecting the cash from the cash safe of the one of the plurality of electronic vending machines on behalf of the financial institution and depositing the cash to the account of the financial institution, and payment by the operator of the one of the plurality of electronic cash safes of the non-
• an electronic cash management system including a plurality of computerized points of sale including electronic cash safes each associated with a communicator, the communicator being operative, upon receipt of cash into one of the plurality of cash safes, employing the communicator for providing a computer network notification from the one of the plurality of electronic cash safes indicating receipt of the cash and at least partially identifying a product sold in return for the cash, a vault cash server, responsive to at least one of the computer network notification from the communicator, for effecting payment to a supplier of the product by a financial institution having physical control of the cash safe and non-loan payment functionality paying a non-loan payment by the operator of the one of the plurality of electronic cash safes to the financial institution having control of the cash safe.
• Fig. 1 is a simplified pictorial block diagram illustration of a cash management system constructed and operative in accordance with a preferred embodiment of the present invention
• Fig. 2 is a simplified block diagram illustration of operation of the cash management system of Fig: 1 in accordance with a preferred embodiment of the present invention.
• Fig. 1 is a simplified pictorial block diagram illustration of a cash management system constructed and operative in accordance with a preferred embodiment of the present invention.
• a plurality of computerized points of sale each generally designated by reference numeral 100 communicate using a modem via a computer network or other data communication functionality 110, such as the Internet, with a computerized point of sale operator's computer 120.
• the computerized points of sale may be unmanned, such as computerized vending machines 122, such as the Lipman NURIT® Model 6000, commercially available from Lipman Electronic Engineering Ltd.
• the computerized points of sale are also characterized in that they include a cash vault 126, preferably associated with a cash acceptor, 128, which is not under the physical control of the operator thereof or of the entity at whose location the computerized point of sale is placed.
• the cash vault may also be provided with bill recycle functionality, such as that described in U.S. Patent 6,481,620, the disclosure of which is hereby incorporated by reference.
• the cash vault 126 is under the physical control of a vault cash manager 130 , which owns the cash located therein and which, through its agents, such as armored car messengers, has physical access to the vault for placing cash therein and removing cash therefrom.
• a vault cash manager 130 is an entity separate from the operator of the computerized points of sale, which is designated by reference numeral 140.
• the vault cash manager 130 preferably operates a server 142, here termed a VCM server.
• the VCM server 142 may communicate via email or any other suitable data communication methodology.
• One or more computerized point of sale operator's computers 120 each communicating with a plurality of computerized points of sale 100, communicates with VCM server 142.
• the computerized point of sale operator's computer 120 is controlled by the operator 140 of the computerized points of sale with which it communicates, which is a separate entity from the vault cash manager 130.
• the computerized point of sale operator's computer 120 also typically communicates with a plurality of suppliers' computers, each designated by reference numeral 144.
• Each supplier, here designated by reference numeral 150 typically is responsible for one or more products sold at one or more computerized points of sale 100.
• the products may include, pre-paid telephone calling cards, train tickets, stored value cards, such as debit cards as well as printable ticket blanks for events, such as a sporting event and blanks for other types of products or services.
• the products may also include various services, such as bill payment services and stored value card topping up services, which may be handled in a similar manner as that for conventional products as described herein.
• the suppliers' computers also typically communicate with the VCM server 142, but typically not in real time.
• the operator's computer 120 typically includes a modem and preferably also at least one of an email generator and a fax generator, for sending reports and other communications to the VCM server 142, the suppliers' computers 144 and the computerized points of sale 100.
• VCM bank account The bank account of the vault cash manager, here termed the VCM bank account, is designated by reference numeral 153; the bank account of the computerized point of sale operator 140 is designated by reference numeral 154 and the bank accounts of the suppliers 150 are each designated by reference numeral 155.
• Fig. 2 is a simplified flow chart illustrating preferred operation of the system of Fig. 1.
• the operator 140 and/or one or more suppliers 150 supply products to the computerized point of sale 100.
• the operator 140 may also provide a stock of cash to the vault 126, particularly when ATM functionality is provided by a computerized point of sale 100.
• This supply operation is designated by reference numeral 200 in Figs. 1 and 2.
• the supply of cash may be provided alternatively via the VCM 130.
• a customer purchases a product, such as a prepaid telephone card 202, he or a teller typically inserts cash 125 into a cash acceptor 128 associated with a vault 126 at the computerized point of sale 100.
• the computerized point of sale 100 typically communicates, preferably via operator computer 120, with the VCM server 142 and with the relevant suppliers' computer 144.
• One communication confirms purchase of the product to the supplier computer 144, as designated by reference numeral 210.
• Another communication confirms the purchase and the receipt of the cash to the VCM server, as designated by reference numeral 220.
• Communication with the VCM server 142 is typically not in real time.
• the supplier computer 144 invoices the VCM electronically via the VCM server 142, as designated by reference numeral 230. Typically, this invoicing is carried out as a batch process, once per day.
• the invoice amount is the full price of the product as collected by the computerized point of sale.
• the invoice amount is the wholesale sales price of the product from the supplier 150 to the operator 140, which is typically a percentage of the total sales price of the product to the consumer.
• the VCM server 142 Upon receipt of the invoice from the supplier, the VCM server 142 correlates the invoice with the confirmation of purchase received in operation 220.
• the VCM 130 transfers payment for the purchase from the bank account 153 of the VCM 130 to the bank account 155 of the relevant supplier 150, via an electronic transfer initiated by VCM server 142, as designated by reference numeral 240.
• the payments are carried out in a batch process, once per day.
• the cash collection and deposit operation is designated by reference numeral 260 and takes place with timing controlled by the operator 140, taking into account the cost of collection on one hand and the amount of interest or time based fee accruing on the other hand.
• the VCM Upon deposit of the cash into the bank account 153 of the VCM 130, the VCM receives a payment of interest or another fee from the operator 140, as designated by reference numeral 270.
• the payments are made in a batch process, once per month by funds transfer from the bank account 154 of the operator 140 to the bank account 153 of the VCM 130. Sales commissions are paid by the suppliers 150 to the operator 140 in respect of sales by the computerized points of sale 100, as designated by reference numeral 280.
• the commission payments are made in a batch process, once per month by funds transfer from the bank accounts 155 of the suppliers 150 to the bank account 154 of the operator 140.
• the invoice amounts are the wholesale prices of the products to the operator 140
• VCM 130 transfers to the bank account 154 of the operator 140, the net proceeds of the sales, after payment of the suppliers 150 and interest, fees and other charges to the VCM 130.

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• Business, Economics & Management (AREA)
• Accounting & Taxation (AREA)
• Finance (AREA)
• Engineering & Computer Science (AREA)
• Development Economics (AREA)
• Strategic Management (AREA)
• Physics & Mathematics (AREA)
• General Business, Economics & Management (AREA)
• General Physics & Mathematics (AREA)
• Economics (AREA)
• Theoretical Computer Science (AREA)
• Marketing (AREA)
• Technology Law (AREA)
• Financial Or Insurance-Related Operations Such As Payment And Settlement (AREA)
• Control Of Vending Devices And Auxiliary Devices For Vending Devices (AREA)

Priority Applications (7)

Applications Claiming Priority (2)

Related Child Applications (2)

Publications (2)

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Cited By (1)

Families Citing this family (6)

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• 2005
  • 2005-01-03 AU AU2005203843A patent/AU2005203843B2/en not_active Ceased
  • 2005-01-03 US US10/558,571 patent/US8280814B2/en not_active Expired - Fee Related
  • 2005-01-03 JP JP2006548576A patent/JP2007518183A/ja active Pending
  • 2005-01-03 CA CA002549360A patent/CA2549360A1/en not_active Abandoned
  • 2005-01-03 CN CNA2005800020875A patent/CN1910607A/zh active Pending
  • 2005-01-03 WO PCT/IL2005/000007 patent/WO2005065043A2/en not_active Ceased
  • 2005-01-03 EP EP05703050A patent/EP1706088A4/en not_active Withdrawn
• 2006
  • 2006-08-04 ZA ZA2006/06514A patent/ZA200606514B/en unknown
• 2012
  • 2012-09-04 US US13/602,398 patent/US20120330768A1/en not_active Abandoned

Non-Patent Citations (1)

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