Electronic confirmation to debit or credit an account

• US 20030093368A1
• Filed: 11/14/2001
• Published: 05/15/2003
• Est. Priority Date: 11/14/2001
• Status: Active Grant

• Current Assignee: First Data Corporation (Fiserv Incorporated)
• Original Assignee: Telecheck Services Incorporated (Fiserv Incorporated)
• Inventors: Schmid, Christopher A., Manfre, Mario P.
• Granted Patent: US 7,599,888 B2
• Time in Patent Office: Days
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/042 characterized in that the payment protocol involves at least one cheque
• CPC Class Codes: G06Q 20/0425 the cheque being electronic only
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists

Abstract

A method for processing a check transaction includes receiving transaction information that is transmitted by a terminal; determining eligibility of the transaction for payment via a bank account; providing an electronic authorization response that is transmitted to the terminal, the authorization response including a unique transaction identifier if the transaction is eligible for payment via the bank account; and receiving an electronic response packet that is transmitted by the terminal if the transaction is eligible for payment via the bank account, the response packet including the unique transaction identifier and a transaction decision regarding payment via the bank account.

Claims

1. A method for processing a check transaction, the method comprising:

receiving transaction information that is transmitted by a terminal;

determining eligibility of the transaction for payment via a bank account;

providing an electronic authorization response that is transmitted to the terminal, the authorization response including a unique transaction identifier if the transaction is eligible for payment via the bank account; and

receiving an electronic response packet that is transmitted by the terminal if the transaction is eligible for payment via the bank account, the response packet including the unique transaction identifier and a transaction decision regarding payment via the bank account.

2. The method of claim 1 wherein the transaction identifier includes a number.

3. The method of claim 1 wherein the transaction identifier includes a letter.

4. The method of claim 1 wherein the transaction identifier includes a symbol.

5. The method of claim 1 further comprising storing the authorization response in an authorization response file, storing the response packet in a response packet file, and comparing the response packet file with the authorization response file prior to settling the transaction.

6. The method of claim 1 further comprising providing an electronic confirmation of receipt of the response packet that is transmitted to the terminal.

7. The method of claim 1 further comprising receiving a settlement request, and settling the transaction in response to the settlement request.

8. The method of claim 7 wherein the step of receiving a settlement request occurs simultaneously with the step of receiving an electronic response packet.

9. The method of claim 7 wherein the step of receiving a settlement request occurs after the step of receiving an electronic response packet.

10. A method of processing a check transaction, the method comprising:

providing transaction information to an authorization source using a terminal so as to determine eligibility of the transaction for payment via a bank account;

receiving at the terminal an electronic authorization response provided by the authorization source, the authorization response including a unique transaction identifier if the transaction is eligible for payment via the bank account; and

providing an electronic response packet to the authorization source using the terminal if the transaction is eligible for payment via the bank account, the response packet including the unique transaction identifier and a transaction decision regarding payment via the bank account.

11. The method of claim 10 further comprising receiving at the terminal an electronic confirmation of receipt of the response packet provided by the authorization source.

12. The method of claim 10 further comprising storing the response packet at the terminal.

13. The method of claim 12 further comprising storing the response packet at a host computer in communication with the terminal, and comparing at a predetermined time interval the response packet stored at the terminal with the response packet stored at the host computer.

14. A computer system for processing a check transaction initiated by a terminal, the computer system comprising:

instructions for determining eligibility of the transaction for payment via a bank account;

instructions for generating an electronic authorization response that is communicated to the terminal, the authorization response including a unique transaction identifier if the transaction is eligible for payment via the bank account; and

instructions for receiving an electronic response packet provided by the terminal if the transaction is eligible for payment via the bank account, the response packet including the unique transaction identifier and a transaction decision regarding payment via the bank account.

15. The computer system of claim 14 further including instructions for storing the authorization response in an authorization response file, instructions for storing the response packet in a response packet file, and instructions for comparing the response packet file with the authorization response file prior to settling the transaction.

16. The computer system of claim 14 further including instructions for providing an electronic confirmation of receipt of the response packet to the terminal.

17. A system for processing a check transaction, the system comprising:

a terminal for transmitting transaction information associated with the transaction; and

an authorization source computer system in communication with the terminal and operative to receive the transaction information from the terminal, the authorization source computer system including instructions for determining eligibility of the transaction for payment via a bank account, and instructions for generating an electronic authorization response for transmission to the terminal, the authorization response including a unique transaction identifier if the transaction is eligible for payment via the bank account;

wherein the terminal is operative to receive the authorization response from the authorization source computer system and to transmit an electronic response packet to the authorization source computer system if the transaction is eligible for payment via the bank account, the response packet including the unique transaction identifier and a transaction decision regarding payment via the bank account.