WO2018235098A1

WO2018235098A1 - Universal payment acceptance system

Info

Publication number: WO2018235098A1
Application number: PCT/IN2018/050403
Authority: WO
Inventors: Terugu VENKATACHALAPATHI; Bhaktha Ram Keshavachar
Original assignee: Ezetap Mobile Solutions Private Limited
Priority date: 2017-06-20
Filing date: 2018-06-20
Publication date: 2018-12-27

Abstract

A universal payment acceptance system (UPAS) facilitating multiple payment modes is provided. The UPAS is a portable intelligent handheld device. The UPAS is configured to meet a plurality of payment regulatory requirements, thereby providing secure and certified closed loop payments and open loop payments. The UPAS is a hybrid device providing functions of the smart phone and a POS device. The UPAS is an integrated handheld POS device comprising a smart phone in-built with a plurality of components for facilitating payment collection. The plurality of components including speaker, mic, power buttons, docking pads and USB ports, chip card slot, card swipe slot, biometric sensor, LED indicators, a pair of display. The integrated handheld POS device facilitates multiple payment modes by establishing telephone or internet connectivity using the smart phone.

Description

UNIVERSAL PAYMENT ACCEPTANCE SYSTEM

CROSS-REFERENCETO RELATED APPLICATION

[0001] The embodiments herein claims the priority of the Indian Provisional Patent Application with the serial number 201741021537 and entitled, "UNIVERSAL PAYMENT ACCEPTANCE SYSTEM" filed on June 20, 2017 and the contents of which are included entirely as reference herein

BACKGROUND

Technical Field

[0002] The embodiments herein are generally related to a point of sale systems and universal payment systems. The embodiments herein are particularly related to a universal payment acceptance system for financial transactions. The embodiments herein are more particularly related to a single integrated point of sale device facilitating multiple payment modes.

Description of the Related Art

[0003] In the past decade, cash register in most retail shops were replaced by a more sophisticated data collection device known as point of sale (POS) device facilitating payment transactions. Typically, POS devices enables the user to perform card transactions (credit cards or debit cards), and cash payments. The POS devices generally comprises barcode scanners, a slot for reading card details, a keypad for entering PIN number, printers for printing receives, displays, telephone or computer links to obtain approval of transaction.

[0004] Most of the payment acceptance enterprises and businesses make use of POS devices at the check-out counters and cash counters. The POS devices are typically bulk and require to be installed at a counter. Further, trained personnel are required at the counter for operating the POS device. In the recent years, efforts are made to make the POS device light and portable. In some POS devices, the card reader is a potable component and is provided to the consumers to enter the PIN number. However, the card reader still needs to be connected with a telephone line to establish telephone or internet connectivity.

[0005] Further, the POS devices generally facilitate card payments or a single type of payment transaction. Therefore, a POS device enabling each type of payment mode is required for facilitating different types of payment modes available across the globe. Thus, a universal payment acceptance device for enterprise or business accepting different payment modes is required to be installed with specific components for facilitating each type of transaction. This becomes cumbersome and costly. Further, in recent years, mobile based payments have become quite popular. Most payment acceptance enterprises make use of mobile based payment collections. However, mobile based payment collections are not possible with the typical POS device.

[0006] Hence, there is a need for an integrated universal POS device for facilitating multiple payment modes. Further, there is a need for a light portable and handy universal POS device. There is still further a need for a hybrid POS device provided with a POS device functions and a smart phone functions for establishing telephone or internet connectivity for the approval of transactions.

[0007] The above-mentioned shortcomings, disadvantages and problems are addressed herein and which will be understood by reading and studying the following specification.

OBJECTS OF THE EMBODIMENTS HEREIN

[0008] The primary object of the embodiments herein is to provide an integrated point of sale (POS) device acting as a universal payment acceptance system (UPAS). [0009] Another object of the embodiments herein is to provide a UPAS offering a single stop solution for facilitating all types of payment collection using a single handheld device.

[0010] Yet another object of the embodiments herein is to provide an integrated handheld POS device for rendering the functions of a smart phone to the consumers and functions of a POS device to payment acceptance enterprises and merchants.

[0011] Yet another object of the embodiments herein is to provide a UPAS secured and certified for closed loop payments and open loop payments.

[0012] Yet another object of the embodiments herein is to provide an integrated handheld POS device that is portable across the geography and is capable of being connected to payment networks across locations covered by telephone operators and internet providers.

[0013] Yet another object of the embodiments herein is to provide a hybrid integrated solution for universal payment acceptance system.

[0014] Yet another object of the embodiments herein is to provide an integrated handheld POS device capable of making phone calls while accepting card payments for gaining approval of the payments.

[0015] Yet another object of the embodiments herein is to provide an integrated handheld POS device acting as a wallet device for consumer and a payment acceptance device for merchants.

[0016] Yet another object of the embodiments herein is to provide a UPAS complying with multiple payment regulatory standards and multiple payment methods and standards.

[0017] Yet another object of the embodiments herein is to offer convenience of payment acceptance while ensuring highest security for customer's sensitive information [0018] Yet another object of the embodiments herein is to provide a UPAS accepting biometric authentication services for payment transaction and Know Your Client (KYC) applications

[0019] Yet another object of the embodiments herein is to provide a UPAS accepting QR code based payments and applications operating under bank and regulatory guidelines

[0020] Yet another object of the embodiments herein is to enable a user of a UPAS to leverage barcode scanner capability to innovate applications on UPAS platform.

[0021] These and other objects and advantages of the embodiments herein will become readily apparent from the following detailed description taken in conjunction with the accompanying drawings.

SUMMARY

[0022] The various embodiments herein provide an integrated point of sale (POS) device acting as a universal payment acceptance system (UPAS). The integrated handheld POS device is a single handled intelligent device for facilitating a plurality of payment collection methods. The integrated handheld POS device is configured to meet a plurality of payment regulatory requirements. The integrated handheld POS device offers a wide range of services to the merchants, retailers, e-commerce deliveries, bankers, electronic payments, checkout systems and mobile payment systems. The integrated handheld POS device is capable of being portably moved across the geography for payment collection.

[0023] According to an embodiment herein, an integrated handheld point of sale (POS) device acting as a universal payment acceptance system (UPAS) for facilitating a plurality of payment collection modes is disclosed. The integrated handheld POS device comprises a main body, a chip card slot, a card swipe slot, a camera, a biometric sensor, a plurality of LED indicators and a processor. The main body is configured to act as a smart phone for enabling a user to perform a first set of payment collection modes. The main body comprises a plurality of components configured for enabling a user to access features of a smart phone. The smart phone comprises plurality of applications running on an operating system for enabling the plurality of payment collection method. The smart phone provides data connectivity required for enabling the plurality of payment collection modes. The chip card slot in-built on the main body is configured for enabling the user to perform chip card payment collection. The user is enabled to perform the chip card payment collection by inserting chip cards including Europay, MasterCard and Visa (EMV) chip cards into the chip card slot. The card swipe slot in-built on the main body is configured to enable the user to perform magnetic stripe card payment collection. The user is enabled to perform the magnetic stripe card payment collection by swiping the magnetic stripe card in the card swipe slot and entering an authentication pin number using a keypad on a second display. The camera in-built on the main body is configured for enabling bar code payment collection, wherein the barcode payment collection is performed by scanning codes such as barcodes and QR codes on products using camera. The barcode payment collection mode includes cash payments and cheque payment. The biometric sensor in-built on the main body is configured for authenticating payment collection modes based on biometric characteristics. The plurality of LED indicators in-built on the main body is configured for indicating contactless payment collection. The contactless payment collection is enabled by application running on the android platform. The processor in-built in the main body is configured to initiate a plurality of instruction stored in a memory when a plurality of payment collection method is activated.

[0024] According to an embodiment herein, the main body comprises the plurality of components including a SIM card slot, a first display, a speaker, a mic, a plurality of power buttons, a plurality of docking pads, and a plurality of USB ports. The SIM card slot is configured for inserting a SIM to the smart phone for providing data connectivity. The first display is configured for accessing features of the smart phone. The speaker is configured for receiving phone calls via smart phone. The mic is configured for amplifying voice while speaking over the phone calls. The plurality of power buttons is configured to switch ON and switch OFF the integrated POS device. The plurality of docking pads is configured for charging the integrated POS device without wired connection. The plurality of USB ports is configured for connecting the integrated handheld POS device with any other systems using a wire connection for data transfer and charging batteries.

[0025] According to an embodiment herein, the smart phone enables the first set of payment collection modes selected from a group consisting of online payment, transactions card not present (CNP) transactions, bank account transactions, loyalty payment collection and wallet payment collection.

[0026] According to an embodiment herein, the smart phone authenticates the first set of payment collection using a one-time password (OTP) received on the smart phone.

[0027] According to an embodiment herein, the integrated handheld POS device is a hybrid device with features of a smart phone and a POS device.

[0028] According to an embodiment herein, the smart phone works on an android operating system.

[0029] According to an embodiment herein, the smart phone enables the user to accept payment via different payment collection modes by establishing a data connectivity using the smart phone.

[0030] According to an embodiment herein, the smart phone enables the user to accept a plurality of payments simultaneously via different payment collection modes by establishing data connectivity through a conference call using the smart phone. [0031] According to an embodiment herein, the integrated handheld POS device supports cash registry feature and cheque registry feature on the android platform to enable a user to perform barcode payment collection.

[0032] According to an embodiment herein, the chip card payment collection performed by inserting the chip card into the chip card slot is authenticated when the chip card and the EMV component of the integrated handheld POS device engage in data exchange during insertion.

[0033] According to an embodiment herein, the second keypad on the integrated handheld POS device is a Point Of Sale Pin Transaction Security Standard (PCI-PTS) certified keypad.

[0034] According to an embodiment herein, the integrated POS device is capable of being portably moved across the geography for payment collection.

[0035] According to an embodiment herein, the plurality of contactless payment collections are selected from a group consisting of NFC/EM V contactless payment collection, Apple pay, Host Card Emulation (HCE) payment collection and Samsung pay.

[0036] According to an embodiment herein, the plurality of payment collection modes supported by the integrated handheld POS device are selected from a group consisting of Cash register, Cheque register, Magnetic stripe card payment collection, EMV chip card payment collection, EMV Contactless payment collection, Payment collections authenticated with PIN, PCI-PTS compliance payment collection, Remote payment collection, Bit coin collection, Loyalty payment collection, Aadhaar based payment collection, UPI payment collection, Mobile Number based payment collection, WhatsApp payment collection, Wallet payment collection, and other mobile phone dependent payment collection modes. [0037] According to an embodiment herein, the integrated handheld POS device meets a plurality of payment regulatory requirements including Point of Sale Pin Transaction Security Standard (PCI PTS), Europay, MasterCard and Visa (EMV), Payment Card Industry Data Security Standards (PCI-DSS), Standardization Testing and Quality Certification (STQC), Unique Identification Authority of India (UIDAI), Aadhaar Enabled Payment System (AEPS), Bharath QR.

[0038] According to an embodiment herein, the integrated handheld POS device is further connected to a plurality of devices selected from a group consisting Bluetooth printer and scanner using wired connections or wireless connections.

[0039] According to an embodiment herein, the integrated handheld POS device is operated on a Secure platform to facilitate the operation of device with the convenience of open operating system to enable the users to install their own applications without any restriction except for the compliance with OS vendor, unlike other locked devices having restriction on the apps.

[0040] According to an embodiment herein, the system is configured to perform unique integration of serial communication between various modules within the unit makes product robust and efficient with the power consumption.

[0041] According to an embodiment herein, UPAS is also a capable of inventory management for retail stores, which is configured to read the RFID tags to consolidate the store SKUs and other information provided by tags.

[0042] According to an embodiment herein, the sale transactions include financial and other related transactions like an identity transaction, loyalty transaction, credit-check transaction et al. [0043] These and other aspects of the embodiments herein will be better appreciated and understood when considered in conjunction with the following description and the accompanying drawings. It should be understood, however, that the following descriptions, while indicating the preferred embodiments and numerous specific details thereof, are given by way of an illustration and not of a limitation. Many changes and modifications may be made within the scope of the embodiments herein without departing from the spirit thereof, and the embodiments herein include all such modifications.

BRIEF DESCRIPTION OF THE DRAWINGS

[0044] The other objects, features and advantages will occur to those skilled in the art from the following description of the preferred embodiment and the accompanying drawings in which:

[0045] FIG.1A illustrates a front view of an integrated handheld Point of Sale (POS) device, according to one embodiment of the embodiments herein.

[0046] FIG. IB illustrates a rear view of an integrated handheld POS device, according to one embodiment of the embodiments herein.

[0047] FIG. 1C illustrates a first side view of the integrated handheld POS device, according to one embodiment of the embodiments herein.

[0048] FIG. ID illustrates a second side view of the integrated handheld POS device, according to one embodiment of the embodiments herein.

[0049] FIG. IE illustrates a top view of the integrated handheld POS device, according to one embodiment of the embodiments herein.

[0050] FIG. IF illustrates a bottom view of the integrated handheld POS device, according to one embodiment of the embodiments herein.

[0051] FIG. 2A illustrates a front view of an alternate design of an integrated Point of Sale (POS) device, according to one embodiment of the embodiments herein. [0052] FIG. 2B illustrates a side view of an alternate design of an integrated handheld POS device, according to one embodiment of the embodiments herein.

[0053] FIG. 2C illustrates a rear view of an alternate design of an integrated handheld POS device, according to one embodiment of the embodiments herein.

[0054] Although the specific features of the embodiments herein are shown in some drawings and not in others. This is done for convenience only as each feature may be combined with any or all of the other features in accordance with the embodiments herein.

DETAILED DESCRIPTION OF THE EMBODIMENTS

[0055] In the following detailed description, a reference is made to the accompanying drawings that form a part hereof, and in which the specific embodiments that may be practiced is shown by way of illustration. These embodiments are described in sufficient detail to enable those skilled in the art to practice the embodiments and it is to be understood that the logical, mechanical and other changes may be made without departing from the scope of the embodiments. The following detailed description is therefore not to be taken in a limiting sense.

[0056] The various embodiments of the embodiments herein provide an integrated point of sale (POS) device acting as a universal payment acceptance system (UPAS). The integrated handheld POS device is a single handled intelligent device for facilitating a plurality of payment collection methods. The integrated handheld POS device is configured to meet a plurality of payment regulatory requirements. The integrated handheld POS device offers a wide range of services to the merchants, retailers, e-commerce deliveries, bankers, electronic payments, checkout systems and mobile payment systems. The integrated handheld POS device is capable of being portably moved across the geography for payment collection. [0057] According to an embodiment herein, an integrated handheld point of sale (POS) device acting as a universal payment acceptance system (UPAS) for facilitating a plurality of payment collection modes is disclosed. The integrated handheld POS device comprises a main body, a chip card slot, a card swipe slot, a camera, a biometric sensor, a plurality of LED indicators and a processor. The main body is configured to act as a smart phone for enabling a user to perform a first set of payment collection modes. The main body comprises a plurality of components configured for enabling a user to access features of a smart phone. The smart phone comprises plurality of applications running on an operating system for enabling the plurality of payment collection method. The smart phone provides data connectivity required for enabling the plurality of payment collection modes. The chip card slot in-built on the main body is configured for enabling the user to perform chip card payment collection. The user is enabled to perform the chip card payment collection by inserting chip cards including Europay, MasterCard and Visa (EMV) chip cards into the chip card slot. The card swipe slot in-built on the main body is configured to enable the user to perform magnetic stripe card payment collection. The user is enabled to perform the magnetic stripe card payment collection by swiping the magnetic stripe card in the card swipe slot and entering an authentication pin number using a keypad on a second display. The camera in-built on the main body is configured for enabling bar code payment collection, wherein the barcode payment collection is performed by scanning codes such as barcodes and QR codes on products using camera. The barcode payment collection mode includes cash payments and cheque payment. The biometric sensor in-built on the main body is configured for authenticating payment collection modes based on biometric characteristics. The plurality of LED indicators in-built on the main body is configured for indicating contactless payment collection. The contactless payment collection is enabled by application running on the android platform. The processor in-built in the main body is configured to initiate a plurality of instruction stored in a memory when a plurality of payment collection method is activated.

[0058] According to an embodiment herein, the main body comprises the plurality of components including a SIM card slot, a first display, a speaker, a mic, a plurality of power buttons, a plurality of docking pads, and a plurality of USB ports. The SIM card slot is configured for inserting a SIM to the smart phone for providing data connectivity. The first display is configured for accessing features of the smart phone. The speaker is configured for receiving phone calls via smart phone. The mic is configured for amplifying voice while speaking over the phone calls. The plurality of power buttons is configured to switch ON and switch OFF the integrated POS device. The plurality of docking pads is configured for charging the integrated POS device without wired connection. The plurality of USB ports is configured for connecting the integrated handheld POS device with any other systems using a wire connection for data transfer and charging batteries.

[0059] According to an embodiment herein, the smart phone enables the first set of payment collection modes selected from a group consisting of online payment, transactions card not present (CNP) transactions, bank account transactions, loyalty payment collection and wallet payment collection.

[0060] According to an embodiment herein, the smart phone authenticates the first set of payment collection using a one-time password (OTP) received on the smart phone.

[0061] According to an embodiment herein, the integrated handheld POS device is a hybrid device with features of a smart phone and a POS device.

[0062] According to an embodiment herein, the smart phone works on an android operating system. [0063] According to an embodiment herein, the smart phone enables the user to accept payment via different payment collection modes by establishing a data connectivity using the smart phone.

[0064] According to an embodiment herein, the smart phone enables the user to accept a plurality of payments simultaneously via different payment collection modes by establishing data connectivity through a conference call using the smart phone.

[0065] According to an embodiment herein, the integrated handheld POS device supports cash registry feature and cheque registry feature on the android platform to enable a user to perform barcode payment collection.

[0066] According to an embodiment herein, the chip card payment collection performed by inserting the chip card into the chip card slot is authenticated when the chip card and the EMV component of the integrated handheld POS device engage in data exchange during insertion.

[0067] According to an embodiment herein, the second keypad on the integrated handheld POS device is a Point Of Sale Pin Transaction Security Standard (PCI-PTS) certified keypad.

[0068] According to an embodiment herein, the integrated POS device is capable of being portably moved across the geography for payment collection.

[0069] According to an embodiment herein, the plurality of contactless payment collections are selected from a group consisting of NFC/EM V contactless payment collection, Apple pay, Host Card Emulation (HCE) payment collection and Samsung pay.

[0070] According to an embodiment herein, the plurality of payment collection modes supported by the integrated handheld POS device are selected from a group consisting of Cash register, Cheque register, Magnetic stripe card payment collection, EMV chip card payment collection, EMV Contactless payment collection, Payment collections authenticated with PIN, PCI-PTS compliance payment collection, Remote payment collection, Bit coin collection, Loyalty payment collection, Aadhaar based payment collection, UPI payment collection, Mobile Number based payment collection, WhatsApp payment collection, Wallet payment collection, and other mobile phone dependent payment collection modes.

[0071] According to an embodiment herein, the integrated handheld POS device meets a plurality of payment regulatory requirements including Point of Sale Pin Transaction Security Standard (PCI PTS), Europay, MasterCard and Visa (EMV), Payment Card Industry Data Security Standards (PCI-DSS), Standardization Testing and Quality Certification (STQC), Unique Identification Authority of India (UIDAI), Aadhaar Enabled Payment System (AEPS), Bharath QR.

[0072] According to an embodiment herein, the integrated handheld POS device is further connected to a plurality of devices selected from a group consisting Bluetooth printer and scanner using wired connections or wireless connections.

[0073] According to one embodiment of the embodiments herein, an integrated point of sale (POS) device acting as a universal payment acceptance system (UPAS) is provided. The integrated handheld POS device is a single handheld intelligent device for facilitating a plurality of payment collection modes. The plurality of payment collection modes is performed for various financial transactions, sale transaction and other related transactions. The UPAS is a hybrid device comprising the features of both smart phone and a POS device. The integrated handheld POS device comprises a smart phone operating on an android operating system or any other operating system. Therefore, the integrated POS system enables the user to accept payment via different payment modes by establishing a data connectivity using the smart phone. Further, the integrated handheld POS device enables a user to accept multiple payments by connecting through a conference call using the smart phone. [0074] The integrated handheld POS device comprises the smart phone with a plurality of components in-built on the smart phone for facilitating payment collection. The plurality of components include speaker, mic, power buttons, docking pads and USB ports, chip card slot, card swipe slot, biometric sensor, LED indicators, a pair of display, etc.

[0075] The smart phone in the integrated handheld POS device is configured to enable a user to access the features of a (an android) smart phone. The plurality of components including speaker, mic, power buttons, docking pads and USB ports is configured to enable the user to access the features of the smart phone. The smart phone is provided with one time password (OTP) authentication type payment modes. Further, the smart phone is configured to enable the user to browse different merchant websites for initiating an online payment transaction or card not present (CNP) transaction. Furthermore, URL is sent to the smart phone from the integrated handheld POS device without additional dedicated server application. The authentication of URL is performed using mobile SIM connectivity of the smart phone.

[0076] Further, the smart phone is configured to enable the user to perform mobile number based payment collections. The mobile number based payment collections include bank account transactions linked to one of social media and mobile number of the user. The social media includes WhatsApp, Facebook, Twitter and the like. The mobile number based payment collections are performed with OTP authentication. Furthermore, the smart phone is configured to enable the user to perform wallet payment collection. The wallet payment collection is performed via a wallet payment application in the smart phone. The wallet payment is authenticated using OTP authentication.

[0077] The chip card slot is configured to enable chip card payments. The chip cards are inserted into the chip card slot. The chip card slot and the EMV element of integrated POS unit engage in data exchange to complete the authentication and payment transaction. The user is enabled to enter personal identification number (PIN) via a PCI-PTS certified keypad for authenticating magnetic stripe card payment using PIN authentication.

[0078] The biometric sensor is configured for authenticating a plurality of mutually different payment modes based on biometric characteristics. The biometric sensor enables Aadhaar based payment collection with biometric authentication. The camera acts as a scanner and is configured to read QR codes. Thus the camera is configured to enable bar code payments. Further, the integrated handheld POS device supports cash registry feature and cheque registry features on the android platform. Therefore, a user is enabled to initiate cash payments and cheque payments by reading the bar codes on the products using the camera.

[0079] The LED indicators are NFC/EMV contactless pay indicators. The integrated handheld POS device enables NFC/EMV contactless payments via applications running on android platform. The type of contactless payment also includes Apple pay and host card emulation (HCE) payment. The LED indicators blink to indicate the contactless payments. Further a built in magnetic feeder in the integrated handheld POS device supports Samsung pay. Therefore, the unique combination of android platform, biometric sensor, camera, pair of display, and data connectivity makes the integrated handheld POS device a UPAS.

[0080] FIG. 1A illustrates a front view of an integrated Point of Sale (POS) device, according to one embodiment of the embodiments herein. FIG. IB illustrates a rear view of an integrated handheld POS device, according to one embodiment of the embodiments herein. FIG. 1C illustrates a first side view of the integrated handheld POS device, according to one embodiment of the embodiments herein. FIG. ID illustrates a second side view of the integrated handheld POS device, according to one embodiment of the embodiments herein. FIG. IE illustrates a top view of the integrated handheld POS device, according to one embodiment of the embodiments herein. FIG. IF illustrates a bottom view of the integrated handheld POS device, according to one embodiment of the embodiments herein.

[0081] With respect to FIG 1A-FIG.1F, the integrated handheld point of sale (POS) device acting as a universal payment acceptance system (UPAS) is explained. The integrated handheld POS device is a hybrid device comprising features of smart phones and point of sale devices. The integrated handheld POS device comprises a smart phone 102 with a plurality of components in-built on the smart phone for facilitating a plurality of payment collection modes. The smart phone 102 operates on an android operating system. The integrated handheld POS device further comprises the plurality of components including chip card slot 104, card swipe slot 106, biometric sensor 108, camera 110, a pair of display 112a and 112b, an LED indicator 114, speaker 116 , mic 118, power buttons 120, docking pads 122, USB ports 124, and volume button 126. The integrated handheld POS device includes a plurality of applications running on the android platform facilitating the plurality of payment collection modes.

[0082] The chip card slot 104 is configured to enable chip card payments. The chip cards including Europay, MasterCard and Visa (EMV) chip cards are inserted into the chip card slot 104. The chip card slot 104 is EMV POS level 1 certified. The chip card and the EMV element of integrated handheld POS device engage in data exchange to complete the authentication and payment transaction. The card swipe slot 106 is configured to enable magnetic stripe card payments. The user is enabled to enter personal identification number (PIN) via a keypad on a second display 112b for authenticating magnetic stripe card payment using PIN authentication. The second display 112b is a pin entry device. The keypad on the second display 112b is a Point Of Sale Pin Transaction Security Standard (PCI PTS) certified keypad for entering PIN. [0083] The biometric sensor 108 is configured for authenticating different payment collection modes based on biometric characteristics of the user. The biometric sensor 108 could be any sensor for sensing biometric characteristics including but not limited to face detector, fingerprint sensor, iris detector and the like. For example the biometric sensor 108 is a Unique Identification Authority of India (UIDAI) registered fingerprint sensor for fingerprint based authentication. The biometric sensor 108 enables Aadhaar based payment collection with fingerprint authentication. The biometric sensor 108 facilitates Aadhaar Enabled Payment System (AEPS) payment through the integrated handheld POS device. The integrated handheld POS device supports different applications for performing various financial transactions such as Electronic-Know Your Customer (e-KYC) transactions.

[0084] The camera HOacts as a scanner and is configured to read QR codes. The integrated handheld POS device is configured to generate dynamic QR codes. Thus the camera 110 is configured to enable bar code payments via the integrated handheld POS device. Further, the integrated handheld POS device supports cash registry feature and cheque registry features on the android platform. Therefore, a user is enabled to initiate cash payments and cheque payments by reading the bar codes on the products using the camera 110.

[0085] The LED indicators 114 are NFC/EMV contactless pay indicators. The integrated handheld POS device enables NFC/EMV contactless payments via applications running on android platform. The type of contactless payment also includes Apple pay and Host Card Emulation (HCE) payment. The integrated handheld POS device comprises EMV Level 1 certified contactless interface for NFC contactless payment authentication. The LED indicators 114 blink to indicate the contactless payments. Further a built in magnetic feeder in the integrated handheld POS device supports Samsung pay. According to one embodiment, the contactless payment is performed by bringing the chip card near a contact- less symbol near on the second display 112b.

[0086] The integrated handheld POS device enables a user to receive phone calls and use other features of the smart phone 102. The smart phone 102 enables a user to initiate one time password (OTP) authentication payment modes. Further, the smart phone 102 enables the user to browse different merchant websites and initiate online payment transactions or card not present (CNP) transaction.

[0087] Further, the smart phone 102 enables user to perform mobile number based payment collections. The mobile number based payment collection includes bank account transactions linked to one of social media and mobile number of the user. The social media includes WhatsApp, Facebook, Twitter and the like. The mobile number based transactions are performed with OTP authentication. Furthermore, smart phone 102 enables the user to perform wallet payment collection. The wallet payment is performed via a wallet payment application in the smart phone 102. The user is enabled to initiate wallet payment by entering mobile number of the user while purchasing using the wallet payment application. On entering the mobile number, an OTP is generated and send to the smart phone 102 of the user. The user is enabled to complete the wallet payment collection by entering the OTP received on the smart phone 102 back into the integrated handheld POS device. The user is enabled to enter the OTP via a second display 112b among the pair of display.

[0088] The integrated handheld POS device enables loyalty payment collection. The cards, URLs or promotional codes issued by the supporting system are processed by the smart phone 102 by communicating with an issuer's remote server. Further, the integrated handheld POS device enables Unified Payments Interface (UPI) payments using the smart phone 102. Furthermore, the integrated handheld POS device supports cryptocurrency acceptance with dedicated applications running on the android platform. [0089] The speaker 116 is configured for receiving calls via smart phone 102. The mic 118 is configured for amplifying voice while speaking over the calls. The power buttons 120 is configured to switch ON and switch OFF the integrated handheld POS device. The volume button 126 enables the user to increase or decrease the volume. The USB port 124 is configured for connecting the device with any other systems using a wire connection. Further, the USB ports 124are used for charging the integrated handheld POS device. The docking pads 122 are also used for charging the integrated handheld POS device without wired connection. The integrated handheld POS system is further connected to a printer via wireless connection such as Bluetooth.

[0090] FIG. 2A illustrates a front view of an integrated Point of Sale (POS) device, according to one embodiment of the embodiments herein. FIG. 2B illustrates a side view of an alternate design of an integrated handheld POS device, according to one embodiment of the embodiments herein. FIG. 2C illustrates a rear view of an alternate design of an integrated handheld POS device, according to one embodiment of the embodiments herein. The different modules of the integrated handheld POS device and its working are the same as described in FIG. 1A-1F. The integrated handheld device also comprises a contact- less icon 202 on the second display 112b configured for enabling contact-less payments. The contact- less payments are made by bringing a chip card near to the contact-less icon 202. Further, the LED light indicators 114 blinks to indicate the contact-less payment is happening.

[0091] According to one embodiment of the embodiments herein, the integrated handheld POS device meets a plurality of payment regulatory requirements and a plurality of payment modes. The plurality of payment regulatory requirements includes but not limited to Point of Sale Pin Transaction Security Standard (PCI PTS), Europay, MasterCard and Visa (EMV), Payment Card Industry Data Security Standards (PCI-DSS), Standardization Testing and Quality Certification (STQC), Unique Identification Authority of India (UIDAI), Aadhaar Enabled Payment System (AEPS), Bharath QR. The plurality of payment modes supported by the integrated handheld POS device includes but not limited to Cash register, Cheque register, Magnetic stripe card payment collection, EMV chip card payment collection, EMV Contactless payment collection, Payments with second authentication factor like PIN, PCI-PTS compliance payment collection, Remote payment - URL generation to payer, Bit coin collection, Loyalty payment collection, Aadhaar based payment collection with biometric authentication, UPI payment collection, Mobile Number based payment collection, WhatsApp payment collection, Wallet payment collection, and other mobile phone dependent payment modes. Further, the integrated handheld POS device support different applications available on the Google play store. The integrated handheld POS device is also compliant to Bureau of Indian Standards (BIS) requirements.

[0092] The combination of different modules in the UPAS facilitates different types of transactions. According to one embodiment herein, the UPAS is used for different type of financial transactions other that sales transactions. Further, UPAS is used for other types of transactions including but not limited to identity transaction, loyalty transaction, credit-check transaction and the like. The UPAS is also a capable of inventory management for retail stores. The inventory management is performed by reading RFID tags to consolidate the store SKUs and other information provided by RFID tags.

[0093] According to one embodiment herein, the mechanical arrangements of different modules of the integrated handheld POS device on the main body can be different manner. The universal payment acceptance system generates a secure platform offering convenience of open operating system for the user to install applications without any restriction except for the compliance with OS vendor. Further the unique integration of serial communication between different modules of the integrated handheld POS device makes the UPAS robust and efficient in terms of power consumption. [0094] The product specification of the integrated handheld POS device, according to an exemplary embodiment is provided in table 1 below:

[0095] Therefore, the various embodiments herein provide a universal payment acceptance system (UPAS) facilitating multiple payment modes available across the globe. The UPAS is a single portable handheld device capable of accepting payments. Unlike traditional POS system requiring a POS device for facilitating payment and a mobile phone for telephone or internet connectivity, the UPAS is an integrated handheld POS device comprising a smart phone with a plurality of in-built components for facilitating the functions of a POS. Therefore the UPAS is hybrid, portable and light to handle. The smart phone in the UPAS facilitates telephone or internet connectivity. The UPAS supports features of smart phone including SIM, Wi-Fi and Bluetooth based connectivity thereby providing rich Android user experience. Further, the UPAS comprises a pair of display, where one display act as a touch sensitive user interface of the smart phone and a second display is dedicated for PIN entry of a POS device.

[0096] The UPAS enables user to accept payment by connecting to a server by making a phone call using the smart phone. Further, multiple payments care accepted via the UPAS by making a conference call using the smart phone. The UPAS acts as a wallet payee device for the consumers and a payment acceptance device for the merchant. The UPAS is configured to meet a plurality of payment regulatory requirements. Therefore the UPAS is secure and certified for both closed loop payments and open loop payments. The UPAS generates reports based on artificial intelligence or subscription.

[0097] The foregoing description of the specific embodiments will so fully reveal the general nature of the embodiments herein that others can, by applying current knowledge, readily modify and/or adapt for various applications such as specific embodiments without departing from the generic concept, and, therefore, such adaptations and modifications should and are intended to be comprehended within the meaning and range of equivalents of the disclosed embodiments.

[0098] It is to be understood that the phraseology or terminology employed herein is for the purpose of description and not of limitation. Therefore, while the embodiments herein have been described in terms of preferred embodiments, those skilled in the art will recognize that the embodiments herein can be practiced with modifications. However, all such modifications are deemed to be within the scope of the claims.

Claims

CLAIMS What is claimed is:

1. A universal payment acceptance system (UPAS) for facilitating a plurality of payment collection modes, comprises:

an integrated handheld point of sale (POS) device, and wherein the integrated handheld POS device comprising:

a main body configured to act as a smart phone for enabling a user to perform a first set of payment collection modes, wherein the main body comprises a plurality of components configured for enabling a user to access features of a smart phone, wherein the smart phone comprises plurality of applications running on an operating system for enabling the plurality of payment collection method, wherein the smart phone provides data connectivity required for enabling the plurality of payment collection modes;

a chip card slot in-built on the main body, configured for enabling the user to perform chip card payment collection, wherein the user is enabled to perform the chip card payment collection by inserting chip cards including Europay, MasterCard and Visa (EMV) chip cards into the chip card slot;

a card swipe slot in-built on the main body, and configured to enable the user to perform magnetic stripe card payment collection, wherein the user is enabled to perform the magnetic stripe card payment collection by swiping the magnetic stripe card in the card swipe slot and entering an authentication pin number using a keypad on a second display;

a camera in-built on the main body, and configured for enabling a bar code payment collection, wherein the barcode payment collection is performed by scanning codes such as barcodes and QR codes on products using camera, wherein barcode payment collection modes includes cash payments and cheque payment; a biometric sensor in-built on the main body, and configured for authenticating payment collection modes based on biometric characteristics;

a plurality of LED indicators in-built on the main body, and configured for indicating a contactless payment collection process, wherein the contactless payment collection process is enabled by application running on the android platform; and a processor in-built in the main body, and configured to initiate a plurality of instruction stored in a memory when a plurality of payment collection method is activated.

2. The system as claimed in claim 1, wherein the main body comprises the plurality of components including:

a SIM card slot configured for inserting a SIM to the smart phone for providing data connectivity;

a first display configured for accessing features of the smart phone;

a speaker configured for receiving phone calls via smart phone;

a microphone configured for amplifying voice while speaking over the phone calls;

a plurality of power buttons configured to switch ON and switch OFF the integrated POS device;

a plurality of docking pads configured for charging the integrated POS device without wired connection; and

a plurality of USB ports configured for connecting the integrated handheld POS device with any other systems using a wire connection for data transfer and charging batteries.

3. The system as claimed in claim 1, wherein the smart phone enables the first set of payment collection modes selected from a group consisting of online payment, transactions card not present (CNP) transactions, bank account transactions, loyalty payment collection and wallet payment collection.

4. The system as claimed in claim 1, wherein the smart phone is configured to authenticate the first set of payment collection using a one-time password (OTP) received on the smart phone.

5. The system as claimed in claim 1, wherein the integrated handheld POS device is a hybrid device with features of a smart phone and a POS device.

6. The system as claimed in claim 1, wherein the smart phone is configured to work on a mobile operating system.

7. The system as claimed in claim 1, wherein the smart phone is configured to enable the user to accept payment through a plurality of mutually different payment collection modes by establishing a data connectivity using the smart phone.

8. The system as claimed in claim 1, wherein the smart phone is configured to enable the user to accept a plurality of payments simultaneously through a plurality of mutually different payment collection modes by establishing a data connectivity through a conference call using the smart phone.

9. The system as claimed in claim 1, wherein the integrated handheld POS device is configured to support a cash registry feature and cheque registry feature on the mobile operating system platform to enable a user to perform a barcode payment collection.

10. The system as claimed in claim 1, wherein the chip card payment collection is performed by inserting the chip card into the chip card slot and wherein the chip card is authenticated when the chip card and the EMV component of the integrated handheld POS device are configured to engage in data exchange during insertion.

11. The system as claimed in claim 1, wherein the second keypad on the integrated handheld POS device is a Point Of Sale Pin Transaction Security Standard (PCI-PTS) certified keypad.

12. The system as claimed in claim 1, wherein the integrated handheld POS device is configured to be portably moved across the geography for payment collection.

13. The system as claimed in claim 1, wherein the plurality of contactless payment collections are selected from a group consisting of NFC/EM V contactless payment collection, Apple pay, Host Card Emulation (HCE) payment collection and Samsung pay.

14. The system as claimed in claim 1, wherein the plurality of payment collection modes supported by the integrated handheld POS device are selected from a group consisting of Cash register, Cheque register, Magnetic stripe card payment collection, EMV chip card payment collection, EMV Contactless payment collection, Payment collections authenticated with PIN, PCI-PTS compliance payment collection, Remote payment collection, Bit coin collection, Loyalty payment collection, Aadhaar based payment collection, UPI payment collection, Mobile Number based payment collection, WhatsApp payment collection, Wallet payment collection, and other mobile phone dependent payment collection modes.

15. The system as claimed in claim 1, wherein the integrated handheld POS device is configured to meet/satisfy/comply with a plurality of payment regulatory requirements, and wherein the plurality of payment regulatory requirements comprises Point of Sale Pin Transaction Security Standard (PCI PTS), Europay, MasterCard and Visa (EMV), Payment Card Industry Data Security Standards (PCI- DSS), Standardization Testing and Quality Certification (STQC), Unique Identification Authority of India (UIDAI), Aadhaar Enabled Payment System (AEPS), Bharath QR.

16. The system as claimed in claim 1, wherein the integrated handheld POS device is further capable of being connected to a plurality of devices selected from a group consisting Bluetooth printer and scanner using wired connections or wireless connections.