Patent ID: 8583497

Claim:
A method for eliminating an exchange of coins that represents a fractional dollar amount in a cash transaction between a consumer and a merchant, the method comprising the steps of: providing a system for conducting a coinless transaction operated by the merchant, the system including a processor; providing a consumer storage device from the consumer; using the system for conducting the coinless transaction, comparing by the processor a sum of credits and debits incurred by the merchant to a sum of per transaction fees; one of assigning a first value if the sum of the credits and debits incurred by the merchant is greater than the sum of per transaction fees, and assigning a second value if the sum of the credits and debits incurred by the merchant is less than or equal to the sum of per transaction fees; and using the system for conducting the coinless transaction, comparing by the processor a sum of a fractional dollar amount of an original transaction amount of the cash transaction between the merchant and the consumer plus a beginning value of the consumer storage device to the one of the first value and the second value assigned; and one of decreasing the original transaction amount to the next lowest whole dollar amount, thereby providing a new transaction amount, if it is determined that the sum of the fractional dollar amount of the original transaction amount plus the beginning value of the consumer storage device is greater than the one of the first value and the second value assigned, and increasing the original transaction amount to the next highest whole dollar amount, thereby providing the new transaction amount, if it is determined that the sum of the fractional dollar amount of the original transaction amount plus the beginning value of the consumer storage device is less than or equal to the one of the first value and the second value assigned.