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Merchant transponder systems using electronic check processing

  • US 20030187786A1
  • Filed: 06/26/2002
  • Published: 10/02/2003
  • Est. Priority Date: 03/26/2002
  • Status: Abandoned Application
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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