Electronic payment and authentication system with debit and identification data verification and electronic check capabilities
First Claim
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1. A computer-implemented method, implemented by at least one hardware processor, comprising:
- receiving, by an electronic processing system from a user terminal via a direct link in an electronic communications network, check data including at least one of raw MICR data and parsed MICR data associated with a user;
receiving, by the electronic processing system, from a merchant computer system bypassing the direct link, via the electronic communications network, consumer-entered transactional debit data, merchant transactional debit data, and a digital certificate;
formatting the check data, the consumer-entered transactional debit data, and the merchant transactional debit data in association with generating a transaction, and routing the formatted data to an application server of the electronic processing system;
verifying that at least one of a session, a data capture procedure, or a data storage procedure of the merchant computer system meets a preset security level based on the digital certificate;
based on the verifying, automatically calling, by the application server, at least one application to process the consumer-entered transactional debit data, and the merchant transactional debit data, to effect an electronic check transaction, at least in part, by;
accessing historical check activity information stored in a database and determining whether to accept the check data based on analyzing the historical check activity information, the historical check activity information comprising information about at least one of closed accounts, stop payments, uncollected funds, deceased payees, frozen accounts, and high-risk consumers;
receiving, from the merchant computer system, a set of search parameters;
executing one or more searches associated with the merchant computer system, among a plurality of consumer keys stored in the database, utilizing the set of search parameters, wherein at least a data attribute to be searched or an order of the one or more searches are determined based on the set of search parameters;
matching the merchant transactional debit data to a consumer key associated with debit data representative of the user;
linking the consumer-entered transactional debit data and the merchant transactional debit data to the consumer key associated with the debit data representative of the user;
updating the consumer key based on the consumer-entered transactional debit data and the merchant transactional debit data; and
determining debit worthiness of the user based on the updated consumer key;
generating, by the application server, a response indicative of acceptance or declination of the electronic check transaction, at least in part, based on the analyzing of the historical check activity information and the debit worthiness of the user;
matching the response with the consumer-entered transactional debit data;
logging the matched response and the consumer-entered transactional debit data; and
responsive to accepting the check data,transmitting an instruction to an automated clearinghouse (ACH) system, over the electronic communications network, the instruction causing the ACH system to initiate a fund transfer, andupdating the historical check activity information stored in the database with the logging information.
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Abstract
An electronic payment and authentication system that includes features to verify the authenticity of a payer, validate debit data, and facilitate debit (as opposed to credit) payment transactions. The electronic payment system allows a consumer to purchase items and services via a network while utilizing a debit transaction. The invention provides merchants with the ability to verify the identity of the consumer, determine if the consumer is a good debit transaction risk, and retrieve debit data associated with a particular consumer.
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Citations
18 Claims
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1. A computer-implemented method, implemented by at least one hardware processor, comprising:
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receiving, by an electronic processing system from a user terminal via a direct link in an electronic communications network, check data including at least one of raw MICR data and parsed MICR data associated with a user; receiving, by the electronic processing system, from a merchant computer system bypassing the direct link, via the electronic communications network, consumer-entered transactional debit data, merchant transactional debit data, and a digital certificate; formatting the check data, the consumer-entered transactional debit data, and the merchant transactional debit data in association with generating a transaction, and routing the formatted data to an application server of the electronic processing system; verifying that at least one of a session, a data capture procedure, or a data storage procedure of the merchant computer system meets a preset security level based on the digital certificate; based on the verifying, automatically calling, by the application server, at least one application to process the consumer-entered transactional debit data, and the merchant transactional debit data, to effect an electronic check transaction, at least in part, by; accessing historical check activity information stored in a database and determining whether to accept the check data based on analyzing the historical check activity information, the historical check activity information comprising information about at least one of closed accounts, stop payments, uncollected funds, deceased payees, frozen accounts, and high-risk consumers; receiving, from the merchant computer system, a set of search parameters; executing one or more searches associated with the merchant computer system, among a plurality of consumer keys stored in the database, utilizing the set of search parameters, wherein at least a data attribute to be searched or an order of the one or more searches are determined based on the set of search parameters; matching the merchant transactional debit data to a consumer key associated with debit data representative of the user; linking the consumer-entered transactional debit data and the merchant transactional debit data to the consumer key associated with the debit data representative of the user; updating the consumer key based on the consumer-entered transactional debit data and the merchant transactional debit data; and determining debit worthiness of the user based on the updated consumer key; generating, by the application server, a response indicative of acceptance or declination of the electronic check transaction, at least in part, based on the analyzing of the historical check activity information and the debit worthiness of the user; matching the response with the consumer-entered transactional debit data; logging the matched response and the consumer-entered transactional debit data; and responsive to accepting the check data, transmitting an instruction to an automated clearinghouse (ACH) system, over the electronic communications network, the instruction causing the ACH system to initiate a fund transfer, and updating the historical check activity information stored in the database with the logging information. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9)
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10. A computer system, comprising:
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at least one hardware processor; an application server comprising at least one application; and storage comprising computer software that when executed by the at least one hardware processor, cause the at least one hardware processor to perform operations comprising; receiving, from a user terminal via a direct link in an electronic communications network, check data including at least one of raw MICR data and parsed MICR data associated with a user; receiving, from a merchant computer bypassing the direct link, via the electronic communications network, consumer-entered transactional debit data, merchant transactional debit data, and a digital certificate; formatting the check data, the consumer-entered transactional debit data, and the merchant transactional debit data in association with generating a transaction, and routing the formatted data to the application server; verifying that at least one of a session, a data capture procedure, and a data storage procedure of the merchant computer meets a preset security level based on the digital certificate, wherein the application server automatically calls the at least one application to process the check data, the consumer-entered transactional debit data, and the merchant transactional debit data, to effect an electronic check transaction, at least in part, by; accessing historical check activity information stored in a database and determining whether to accept the check based on historical check activity information, the historical check activity information including information about at least one of closed accounts, stop payments, uncollected funds, deceased payees, frozen accounts, and high-risk consumers; receiving, from the merchant computer system, a set of search parameters; executing one or more searches associated with the merchant computer system, among a plurality of consumer keys stored in the database, utilizing the set of search parameters, wherein at least a data attribute to be searched or an order of the one or more searches are determined based on the set of search parameters; matching the merchant transactional debit data to a consumer key associated with debit data representative of the user; linking the consumer-entered transactional debit data and the merchant transactional debit data to a consumer key associated with debit data representative of the user; updating the consumer key based on the consumer-entered transactional debit data and the merchant transactional debit data; determining debit worthiness of the user based on the updated consumer key; and generating a response indicative of acceptance or declination of the electronic check transaction; matching the response with the consumer-entered transactional debit data; logging the matched response and the consumer-entered transactional debit data; and responsive to accepting the check data, transmitting an instruction to an automated clearinghouse (ACH) system over the electronic communications network, the instruction causing the ACH system to initiate a fund transfer; and updating the historical check activity information stored in the database with the logging information. - View Dependent Claims (11, 12, 13, 14, 15, 16, 17, 18)
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Specification