Inventors:
John Jones - Suwanee GA, US
Harold Bray - Seminole FL, US
James Smith - Danville CA, US
Jeffrey Wakefield - Uxbridge MA, US
Gregory Sokolowski - Shrewsbury MA, US
Frank Decaro - Worcester MA, US
Paul Vermeulen - Tampa FL, US
Kumar Choudhuri - Marietta GA, US
David Janes - Marietta GA, US
Charles Brown - Lutz FL, US
Tom Golba - Livermore CA, US
Thomas Ammon - Mountain View CA, US
Karl Chrisman - Livermore CA, US
Assignee:
IVI Checkmate Corp. - Roswell GA
International Classification:
G06Q 99/00
Abstract:
An automated method provides an efficient arrangement for setting certain financial transactions using a debit point of sale transaction network, as opposed to routing over a credit network. The method and arrangement uses an onsite database of bank identification numbers to conduct a preliminary assessment of whether a particular card is debit capable, and appropriately processes the transaction information based on the preliminary assessment. The system preferably is also updated when a financial transaction is successfully completed as a debit transaction which the database did not initially identify as being debit capable. In this way, the database is continuously updated and over time, a more accurate database is achieved. The system can also be networked, such that information between databases is shard and improved, based on the network experience.