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USB Money Key (MONKEY) Point of Sale Device Disclosure Number: IPCOM000020411D
Original Publication Date: 2003-Nov-20
Included in the Prior Art Database: 2003-Nov-20
Document File: 1 page(s) / 5K

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This publications outlines the usage of a USB memory device for the transmission of a user's money in retail point of sale solutions

This text was extracted from a PDF file.
This is the abbreviated version, containing approximately 92% of the total text.

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USB Money Key (MONKEY) Point of Sale Device

USB memory keys are a very popular technology that is becoming ubiquitous in usage worldwide. These small memory based devices are very rapidly replacing diskettes for the transport of files between PC's and other devices. These devices come in all sizes. There are versions of these devices built into pens, watches, and units small enough to be included on a user's key chain.

The popularity of these devices can be utilized for point of sale applications.

The basic process of the invention is that a user inserts their USB device into a USB port on a PC. The user then browses to a web page offered by the user's financial institution and runs an application that transfers funds to the USB memory device. The user then removes the USB memory device from the PC. The user can then shop with the USB memory device and pay for goods/services by inserting the USB memory device into a USB port on a POS terminal. The process on the POS terminal deducts the cost of goods and services and updates the information on the USB memory device.

The advantages of adopting this approach for POS applications are numerous:

1. USB memory devices, and PC's with USB port connected to the internet for download are common worldwide, so practical implementation of this process would be quite easy.
2. USB memory devices come in all shapes and sizes. A user can select the device that suits them best.
3. The user may download funds from any PC equipped wi...