Merchant transponder systems using electronic check processing
First Claim
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1. A method of recognizing a transponder designed to act as payment for goods or services, the method comprising:
- acquiring identification information from a transponder presented as payment during a transaction for goods or services;
associating the identification information with MICR data to be used to uniquely identify a checking account; and
accepting or declining the transaction based on one or more characteristics of the transaction.
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Abstract
The present invention includes a merchant computing system that recognizes a wireless device, such as, for example, a wireless transponder, and converts the presentation of the wireless device into transaction requests for electronic debits to a checking account. The merchant computing system-enrolls users who provide MICR data identifying their checking account, and whose risk assessment falls within predetermined enrollment parameters. Moreover, the merchant computing system accepts those transactions which also fall within predetermined transaction parameters.
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Citations
30 Claims
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1. A method of recognizing a transponder designed to act as payment for goods or services, the method comprising:
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acquiring identification information from a transponder presented as payment during a transaction for goods or services;
associating the identification information with MICR data to be used to uniquely identify a checking account; and
accepting or declining the transaction based on one or more characteristics of the transaction. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12)
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13. A method of enrolling a user into a system providing for the payment of goods or services through the presentation of a transponder, the method comprising:
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acquiring information identifying a user attempting to enroll into a system providing for the payment of goods or services from a checking account of the user through the presentation of a transponder;
acquiring MICR data corresponding to the checking account;
acquiring an indication of a risk associated with accepting the user; and
enrolling the user when the indication of the risk is within at least one predetermined parameter. - View Dependent Claims (14, 15, 16, 17, 18, 19, 20)
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21. A merchant computing system comprising:
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a receiver configured to receive information from a wireless device presented by a user as payment for goods or services; and
one or more computing devices connected to the receiver, which receive the information, generate a transaction request to debit funds from a checking account of the user, receive a report relating to the transaction request, and when the transaction report is within predetermined parameters, confirm the transaction request such that the funds are debited. - View Dependent Claims (22, 23, 24, 25, 26, 27, 28, 29)
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30. A computing system comprising;
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means for determining information from the presentation by a payor of a wireless device as payment as payment for goods or services;
means for formatting a transaction request to debit funds from a checking account of the user;
means for receiving a report relating to the transaction request; and
means for confirming the transaction request such that the funds are debited when the transaction report is within predetermined parameters.
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Specification