System and method for checkless cash advance settlement

US9224143B2 · kind B2 · utility

Assignee

• Everi Payments Inc. · US

Inventors

• Craig Potts · Scottsdale, US
• Richard Beer · Prior Lake, US

Key dates

• Filing date: Mar 31, 2014
• Grant date: Dec 29, 2015
• Expiry date: Mar 31, 2034

Classification

• Technology area (CPC G): Physics
• CPC primary: G07F19/20
• WIPO field: Control
• WIPO sector: Instruments

Abstract

Methods, devices, and systems for conducting a checkless cash access settlement are provided. In one embodiment, a cash advance method includes the following: a customer initiates a cash access transaction with a financial card via a cash access system; the customer receives authorization or denial; the customer provides identification and the financial card to a cashier or attendant; the cashier or attendant validates the customer's identity, retrieves the transaction information, and completes the cash advance application; the application prints a non-negotiable instrument, such as a transaction receipt; the customer signs the receipt confirming the transaction with a physical receipt or electronic capture; the receipt image is stored electronically for subsequent transmittal to a central server; the transaction information, including the receipt image if applicable, is recorded on the central server; and the central server generates an ACH file and electronically transmits the ACH file to a designated financial institution.