Patent ID: 9514343
Filing Date: 2016-12-06
CPC Classification: G06Q,G07G

Claim Text:
1. A method of inventory tracking and automatic payment for a shipped and vended commodity comprising the steps of: a) providing a product information label for said vended commodity including a bar code and an embedded barcode chip; b) programming an individual identifier for each unit of said vended commodity on said embedded barcode chip; c) programming a price for said vended commodity on said embedded barcode chip; d) programming a vendor account ID on said embedded barcode chip for each unit of said vended commodity when it is shipped to a vending entity; and e) programming bank account numbers and bank routing numbers information on said embedded barcode chip: such that when said vended commodity is purchased and scanned at a vendor location, said programmed bank account numbers and bank routing numbers information is accessed to transfer funds based on said programmed price to the programmed bank accounts.