APPARATUS, SYSTEM AND METHOD FOR CREATING CREDIT VOUCHERS USABLE AT POINT OF PURCHASE STATIONS

摘要

Apparatus, system and method are provided for processing charge vouchers against charge card accounts administered by a host institution that issues an approval/disapproval to a merchant for a proposed transaction. The apparatus is processor based and broadly includes a keyboard input having command keys and a charge card reader. Upon activation, account identification data is read from a customer's charge card and the customer enters a maximum charge amount. An autodialer connects the processor to the host institution by way of a transmitter/receiver and a communication line. The host verifies the credit limit of the customer account to ascertain availability of funds. If the host approves the proposed transaction, the maximum charge amount is reversed and an approval signal is sent to the processor; if the host does not approve the transaction, a disapproval signal is sent. The processor stores the transaction data and causes a printer to produce a voucher good for the maximum charge amount upon receipt of the approval signal. The customer then endorses the voucher and subsequently purchases goods/services for an actual purchase amount less than or equal to the maximum charge amount. The merchant updates the voucher at the time of purchase and either simultaneously or subsequently edits the memory of the processor to reflect the actual purchase amount. The actual transaction is then forwarded to the host institution which updates the customer account to release excess credit resulting from any difference between the maximum charge amount and the actual purchase amount. The broad method embodies the above procedure implemented in processing steps.