Credit and bank issued debit card operated system and method for controlling a prepaid card encoding/dispensing machine

A method for controlling a pre-existing vending machine to encode a prepaid card, said pre-existing vending machine includes a magnetic card writing device, comprising the steps of:

• a) retrofitting a controller, separate from said pre-existing vending machine, to said pre-existing vending machine, wherein said controller includes a memory for storing a plurality of pulse per dollar counts for a plurality of different pre-existing vending machines;
• b) obtaining a pulse per dollar count from the memory which is compatible with said pre-existing vending machine;
• c) generating, based on said obtained pulse per dollar count, a pulse code for transmission to said magnetic card writing device within said pre-existing vending machine;
• d) transmitting said pulse code from said controller to said pre-existing vending machine;
• e) receiving said pulse code at said pre-existing vending machine;
• and
• f) writing a prepaid amount to a magnetic card based on said received pulse code.

A method for controlling and monitoring credit card transactions and operation of a pre-existing vending machine for encoding prepaid cards, said pre-existing vending machine having a currency acceptor and control interface lines such that said currency acceptor generates pulses along said interface control lines to encode a value on a prepaid card, comprising the steps of:

• a) retrofitting a controller, separate from said pre-existing vending machine, to said pre-existing vending machine by way of a connection to said control interface lines at a point operationally related to said currency acceptor;
• b) reading, at said separate controller, magnetically stored information from a credit card;
• c) obtaining, at said separate controller, an approval code for a specified authorization amount for said transactions for said credit card from a credit verification source external to said separate controller and said vending machine;
• d) storing said approval code at said separate controller;
• e) selecting, at said separate controller, a prepaid amount to be encoded on a prepaid card;
• f) determining, at said separate controller, whether said selected prepaid amount selected is below a maximum allowed transaction amount;
• g) controlling, by said separate controller, the encoding of a prepaid card in response to said selected prepaid amount;
• and
• h) storing transaction information corresponding to said operation of said vending machine and said magnetic information from said credit card.