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1. US20110213647 - System and method for facilitating commercial transactions

Office
United States of America
Application Number 12929979
Application Date 28.02.2011
Publication Number 20110213647
Publication Date 01.09.2011
Publication Kind A1
IPC
G06Q 30/00
GPHYSICS
06COMPUTING; CALCULATING OR COUNTING
QDATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTING PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTING PURPOSES, NOT OTHERWISE PROVIDED FOR
30Commerce, e.g. shopping or e-commerce
Applicants Asmar Alejandro G.
Diaz Arturo
Inventors Asmar Alejandro G.
Diaz Arturo
Title
(EN) System and method for facilitating commercial transactions
Abstract
(EN)

An electronic fund transfer system that provides vital marketing information to participating merchants and purchasing records to customers while offering the most efficient and effective system to deliver the best terms and conditions for the products and services requested by customers. The system includes an electronic funds transfer card that can be used as a debit or charge card to purchase goods and services. At checkout, the system operates invisibly to the consumer and the cashier. Approval of the transaction operates similarly to a conventional debit card or credit card. All discounts are managed by the data clearinghouse which receives consumer data and merchant data. The clearinghouse communicates with the financial institution and forwards a statement which displays the accumulated discounts to the consumer.