An automated way for sales establishments to extend point of sale (POS) cash transactions to allow consumers to save change or transfer discretionary funds into saving or donating accounts managed by a central clearinghouse. The system includes a network composed of consumers/payors with identification cards, neutral merchants who enter data and funds into remote POS terminals, central clearinghouse that offers/process accounts, and service providers for participating consumer/account holders, i.e. nonprofit giving, travel, mutual funds, savings, ets. The network provides consumers with a seamless, convenient, and painless way to save/donate every time they spend at multiple POS counter locations.
RELATED APPLICATIONS
The present application claims the benefit of U.S. application Ser. No. 08/843,424 filed Apr. 15, 1997 now U.S. Pat. No. 6,088,682 issued Jul. 11, 2000, which is a continuation-in-part of U.S. application Ser. No. 08/349,353 filed Dec. 5, 1994, now U.S. Pat. No. 5,621,640 issued Apr. 15, 1997; which is a continuation of U.S. application Ser. No. 08/018,821 filed Feb. 18, 1993, now abandoned; and a continuation of application Ser. No. 08/429,758 filed Apr. 27, 1995, now U.S. Pat. No. 6,112,191 issued Aug. 29, 2000; and a continuation of U.S. application Ser. No. 08/493,396 filed Jun. 22, 1995, now abandoned. The present application also claims the benefit of the aforementioned U.S. application Ser. No. 08/429,758 filed Apr. 27, 1995 now U.S. Pat. No. 6,112,191 issued Aug. 29, 2000; which is a continuation-in-part of U.S. application Ser. No. 08/349,353 filed Dec. 5, 1994, now U.S. Pat. No. 5,621,640 issued Apr. 15, 1997; which is a continuation of the aformentioned Ser. No. 08/018,821 filed Feb. 18, 1993, now abandoned.
REFERENCE TO CO-PENDING APPLICATIONS
This is a Continuation In Part of my application Ser. No. 08/018,821 filed on Feb. 18, 1993, now abandoned, Ser. No. 08/172,221 filed Dec. 23, 1993, now abandoned, Ser. No. 08/429,758 filed Apr. 27, 1995, U.S. Pat. No. 6,112,191, and Ser. No. 08/493,396 filed Jun. 22, 1995, now abandoned.
An automated way for sales establishments to extend point of sale (POS) cash transactions to allow consumers to save change or transfer discretionary funds into saving or donating accounts managed by a central clearinghouse. The system includes a network composed of consumer/payors with identification cards, neutral merchants who enter data and funds into remote POS terminals, central clearinghouse that offers/process accounts, and service providers for participating consumer/account holders, i.e. nonprofit giving, travel, mutual funds, savings, etc. The network provides consumers with a seamless, convenient, and painless way to save/donate every time they spend at multiple POS counter locations.
A money management card adapted to provide a method of saving and investing for a user of the money management card. The money management card is associated with an investment account which allows money to be pooled for the purpose of investing. The investment account allows the user to allocate the balance of the investment account in one or more investment vehicles. The user is not required to satisfy a minimum amount before placing a portion of the balance in the investment vehicle. The balance of the investment account is funded by additional amounts added to purchase amounts for purchases made with the card.
An improved system for consumer payors to save and donate whenever they use cash at a point of sale terminal, write a check, use an ATM machine, or use a credit or debit card. The POS system is a network composed of subscriber/payors, neutral merchant/collectors, a central clearinghouse, and provider accounts. The Rounder system is a network composed of subscriber/payors, payees, account managers, and provider services. The systems together provide subscriber/payors with a seamless way to save/donate every time they spend.
A data processing system and method of using said data processing system for assessing and managing risk is disclosed. The preferred embodiment of the method includes the steps of identifying a set of risk elements; determining an importance for each said risk element; identifying any subrisks associated with said risk elements; identifying one or more control procedures for each said subrisk element; assigning weights to each said control procedure; rating compliance with each said control procedure and calculating an overall weighed compliance score. The method may further include the steps of for each non-fully compliant subrisk, allowing the user to determine whether to accept the risk or generate an action plan addressing the risk. The method may further preferably include calculating future compliance scores based on said action plans. The system further provides for sorting and displaying compliance scores by a number of parameters.
A system and method for funding a collective account via aggregating usage of electronic tags is disclosed. The system and method promotes the use of electronic tags, and the funding of collective accounts that may be associated with charitable or other philanthropic causes. Further benefits may be realized by replenishing the prefunded account that serves as the source of funds for the electronic tag to an affinity account that also benefits the charitable or other philanthropic cause.
