17986963. Multi-Computer System for Merchant-Integrated Cash Withdrawal simplified abstract (Bank of America Corporation)
Contents
- 1 Multi-Computer System for Merchant-Integrated Cash Withdrawal
- 1.1 Organization Name
- 1.2 Inventor(s)
- 1.3 Multi-Computer System for Merchant-Integrated Cash Withdrawal - A simplified explanation of the abstract
- 1.4 Simplified Explanation
- 1.5 Potential Applications
- 1.6 Problems Solved
- 1.7 Benefits
- 1.8 Potential Commercial Applications
- 1.9 Possible Prior Art
- 1.10 Original Abstract Submitted
Multi-Computer System for Merchant-Integrated Cash Withdrawal
Organization Name
Inventor(s)
Kumarakuruparan Moorthy of Neelangaral (IN)
Multi-Computer System for Merchant-Integrated Cash Withdrawal - A simplified explanation of the abstract
This abstract first appeared for US patent application 17986963 titled 'Multi-Computer System for Merchant-Integrated Cash Withdrawal
Simplified Explanation
Arrangements for providing merchant-integrated cash withdrawal functions are provided in this patent application. A request to withdraw an amount of cash is received, triggering an API call to one or more merchant systems to check for funds availability. Once funds availability is confirmed, a user interface is generated with options from different merchant systems that can provide the requested cash. The user selects a merchant system, a machine-readable code is generated and transmitted to the user's device, the code is scanned, cash is dispensed, and the user's account is debited.
- API call initiated to merchant systems for funds availability
- User interface generated with merchant options for cash withdrawal
- Machine-readable code generated for cash dispensing
- User account debited after cash withdrawal
Potential Applications
The technology described in this patent application could be applied in various industries such as banking, retail, and e-commerce to offer convenient cash withdrawal options to customers.
Problems Solved
This technology streamlines the cash withdrawal process by integrating merchant systems, providing users with multiple options for withdrawing cash, and simplifying the transaction through a machine-readable code.
Benefits
The benefits of this technology include increased convenience for users, faster cash withdrawal transactions, and a seamless integration of merchant systems for enhanced user experience.
Potential Commercial Applications
"Integrated Cash Withdrawal Technology for Merchant Systems" could be used in banks, retail stores, and online platforms to offer customers a convenient way to withdraw cash from their accounts.
Possible Prior Art
One possible prior art for this technology could be the integration of ATMs with banking systems to provide cash withdrawal services to customers.
Original Abstract Submitted
Arrangements for providing merchant-integrated cash withdrawal functions are provided. A request to withdraw an amount of cash may be received. In response to receiving the request, an application programming interface (API) call may be initiated to one or more merchant systems to obtain funds availability from the merchant systems. Funds availability may be received from the merchant systems and a user interface may be generated including at least one merchant system having sufficient funds to provide the requested cash to the requesting user. The user interface may be transmitted to the user computing device and selection of a merchant system to complete the transaction may be received. In response to receiving the selection, a machine-readable code may be generated and transmitted to the user computing device. The code may be scanned, the amount of cash may be dispensed to the user and a user account may be debited.
