Systems and methods for identifying payor location based on transaction data

• US 20050125337A1
• Filed: 12/09/2003
• Published: 06/09/2005
• Est. Priority Date: 12/09/2003
• Status: Active Grant

• Current Assignee: First Data Corporation (Fiserv Incorporated)
• Original Assignee: First Data Corporation (Fiserv Incorporated)
• Inventors: Williams, Charles R., Wallin, Mark, Mollett, Cassandra, Tidwell, Lisa C., Swift, Amy L., Pate, Lance D.
• Granted Patent: US 7,783,563 B2
• Time in Patent Office: Days
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/042 characterized in that the payment protocol involves at least one cheque
• 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
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof

Abstract

Systems and methods are described for building, maintaining, and using a repository of information about payors of second-party checks presented at a check-cashing entity for cashing. In various embodiments, the repository comprises stored information useful for determining the location of a payor of a second-party check. In one embodiment, information from the check that identifies an account on which the check is drawn, such as magnetic ink character recognition (MICR) line information from a paycheck, is used to access a repository of employer location information. In one embodiment, the payor location information is used to determine a proximity between the payor location and the check cashing entity location. In one embodiment, when a check is presented for which stored payor location information is not available, identifying information about the payor and/or the payor location is requested and is added to the repository.

Claims

1. A method of compiling a computer-accessible repository of employer location information for use in assessing the risk of a payroll check-cashing transaction, the method comprising:

identifying employers in a desired geographical location;

obtaining from the employers identifiers for checking accounts associated with the employers, wherein the checking accounts are accounts drawn on by the employers for writing payroll checks;

compiling on a computer-accessible storage medium a repository of records, wherein a record comprises information to identify an employer location and at least one of;

an associated employer name and the associated employer checking account;

in response to receiving a request to cash a payroll check for which the repository of records does not hold associated employer information, requesting from a check-cashing entity that is processing the request information about at least one of;

an employer name, an employer bank account identification, and employer location information; and

adding the employer information received from the check-cashing entity to the repository.

2. The method of claim 1, wherein identifying employers in a desired geographical location further comprises identifying employers within a desired proximity of the check-cashing entity.

3. The method of claim 1, wherein identifying employers in a desired geographical location further comprises identifying employers within a desired region defined by at least one of the set consisting of:

zip code, city, county, state, telephone area code, and Metropolitan Statistical Area (MSA).

4. The method of claim 1, wherein requesting information from a check-cashing entity comprises displaying a prompt to an operator of a point-of-sale device at the check-cashing entity to input the requested information.

5. The method of claim 1, wherein identifying employers in a desired geographical location further comprises identifying employers of a desired size.

6. The method of claim 1, wherein compiling the records further comprises compiling records that comprise an indication of a size associated with the employer.

7. The method of claim 1, wherein compiling the records further comprises compiling records that comprise an indication of a number of employees associated with the employer.

8. The method of claim 1, further comprising:

accessing information about an employer location associated with a payroll check presented for cashing;

using the information to determine a proximity for the employer location and a location associated with the check-cashing transaction; and

assessing risk associated with the check-cashing transaction based at least in part on the proximity.

9. A method of compiling a computer-accessible repository of check issuer location information for use in check transaction risk assessment, the method comprising:

identifying check issuers in a desired geographical location;

obtaining from the check issuers identifiers for checking accounts associated with the check issuers; and

compiling on a computer-accessible storage medium a repository of records, wherein a record comprises information to identify a check issuer name, an associated check issuer'"'"'s location, and the associated check issuer'"'"'s checking account.

10. The method of claim 9, wherein identifying check issuers in a desired geographical location further comprises identifying check issuers within a desired proximity of a check-cashing entity.

11. The method of claim 9, wherein identifying check issuers in a desired geographical location further comprises identifying check issuers within a desired region defined by at least one of the set consisting of:

zip code, city, county, state, telephone area code, and Metropolitan Statistical Area (MSA).

12. The method of claim 9, wherein identifying check issuers in a desired geographical location comprises identifying check issuers from any geographical location.

13. The method of claim 9, further comprising the acts of:

in response to receiving a request to cash a check for which the repository of records does not hold associated check issuer information, requesting from a check-cashing entity that is processing the request, information about at least one of;

a check issuer name, a check issuer bank account identification, and check issuer location information; and

adding check issuer information received from the check-cashing entity to the repository.

14. The method of claim 13, wherein requesting information from a check-cashing entity comprises displaying a prompt to an operator of a point-of-sale device at the check-cashing entity to input the requested information.

15. A computer-accessible storage medium, wherein the storage medium stores records of information about check issuers and records of information about check-cashing entities, a record about a check issuer comprising a check issuer identifier and location information associated with the check issuer, a record about a check-cashing identity comprising an identifier for the check-cashing identity and location information associated with the check-cashing identity.

16. The computer-accessible storage medium of claim 15, wherein the check issuer identifier comprises at least one of:

a check issuer name and an identifier for a checking account associated with the check issuer.

17. The computer-accessible storage medium of claim 16, wherein the identifiers for checking accounts associated with the check issuers identify checking accounts from a plurality of financial institutions.

18. The computer-accessible storage medium of claim 15, further comprising information that correlates the check issuer location information and the check-cashing entity location information.

19. The computer-accessible storage medium of claim 15, wherein a portion of the records of information about check issuers comprises information obtained from check issuers and a portion of the records of information about check issuers comprises information obtained from check-cashing entities.

20. The computer-accessible storage medium of claim 19, wherein the portion of records obtained from check issuers comprise records associated with check issuers in a desired geographic location.

21. The computer-accessible storage medium of claim 19, wherein the portion of records obtained from check-cashing entities comprise records obtained during check-cashing transactions for which associated check issuer information was not available in the storage medium prior to the check-cashing transaction.

22. A method of accessing location information for a check transaction, the method comprising:

obtaining from a check information about an account associated with the check; and

using the account information to access stored information about a payor associated with the account and about a payor location.

23. The method of claim 22, wherein obtaining information about an account comprises reading magnetic ink character recognition (MICR) line information from the face of the check and extracting an identifying number for the account from the MICR line information.

24. A method of compiling a computer-accessible repository of location information about issuers of negotiable instruments, the method comprising:

identifying issuers of negotiable instruments in a desired geographical location;

obtaining from the issuers of negotiable instruments identifiers associated with the negotiable instruments; and

compiling on a computer-accessible storage medium a repository of records, wherein a record comprises information to identify a name associated with an issuer of negotiable instruments, an associated issuer location, and the associated identifiers associated with the negotiable instruments.

25. The method of claim 24, wherein identifying issuers of negotiable instruments in a desired geographical location further comprises identifying issuers within a desired proximity of a check-cashing entity.

26. The method of claim 24, wherein identifying issuers of negotiable instruments in a desired geographical location further comprises identifying issuers of negotiable instruments within a desired region defined by at least one of the set consisting of:

zip code, city, county, state, telephone area code, and Metropolitan Statistical Area (MSA).

27. The method of claim 24, wherein identifying issuers of negotiable instruments in a desired geographical location comprises identifying issuers of negotiable instruments from any geographical location.

28. A computer-accessible storage medium, wherein the storage medium stores records of information about issuers of negotiable financial instruments and records of information about check-cashing entities, a record about an issuer of a negotiable financial instrument comprising an issuer identifier and location information associated with the issuer, a record about a check-cashing identity comprising an identifier for the check-cashing identity and location information associated with the check-cashing identity.

29. A system for compiling a computer-accessible repository of check issuer location information for use in check transaction risk assessment, the system comprising:

means for identifying check issuers in a desired geographical location; and

means for compiling on a computer-accessible storage medium a repository of records, wherein a record comprises information to identify a check issuer name, an associated check issuer location, and an associated check issuer checking account, and wherein the checking account is an account drawn on by the check issuer for issuing checks.

30. A computer-accessible storage medium comprising information that associates check issuer bank account information with check issuer location information and check-cashing entity location information.