Methods for transaction processing

• US 20050203857A1
• Filed: 03/25/2005
• Published: 09/15/2005
• Est. Priority Date: 03/09/2004
• Status: Abandoned Application

• Current Assignee: Easycheck Incorporated
• Original Assignee: Easycheck Incorporated
• Inventors: Friedman, Lawrence J.
• Application Number:
  US11/089,618
• Publication Number:
  US 20050203857A1
• Time in Patent Office: Days
• US Class Current: 705/78
• CPC Class Codes: G06Q 20/042 characterized in that the payment protocol involves at least one cheque
• CPC Class Codes: G06Q 20/0855 involving a third party
• CPC Class Codes: G06Q 20/3276 using a pictured code, e.g. barcode or QR-code, being read by the M-device
• CPC Class Codes: G07F 7/0833 Card having specific functional components

Abstract

A method for transaction processing is presented. In particular, the present invention discloses a method for transaction processing which includes receiving a third party transaction, receiving financial information of the third party transaction where the financial transaction further includes a Magnetic Ink Character Recognition (MICR) data and a representation of the third party transaction; and settling the third party transaction.

Claims

1. A method of transaction processing comprising:

receiving a third party transaction;

receiving financial information of said third party transaction, wherein said financial information comprises at least a Magnetic Ink Character Recognition (MICR) data and a representation of said third party transaction; and

settling said third party transaction.

2. The method of claim 1, wherein said third party transaction is selected from the group consisting of a payroll check, a refund check, a rebate check, a redeemable coupon, a personal check, a federal government check, a state government check, a municipal government check, a money order, a bank deposit check, a third party check, a third party payment, a financially negotiable item, and combinations thereof.

3. The method of claim 2, wherein said third party payment is selected from the group consisting of payments consisting of cable, telephone, water, electric, gas, mortgage, credit card, bank withdrawals, and combinations thereof.

4. The method of claim 1, wherein receiving financial information of said third party transaction occurs at one selected from the group consisting of a Point of Sales (POS) system, a Point of Banking (POB) terminal, and combinations thereof.

5. The method of claim 4, wherein the POB terminal includes devices selected from the group consisting of a computer, software, electronically controlled cash drawer, a receipt printer, a bar code scanning device, a magnetic card reading device, a check reading device, hardware and software for Internet access and communication, hardware and software for communication with wireless devices, docking bays and ports for communication with flash/temporary memory devices, a display, and combinations thereof.

6. The method of claim 1, wherein the financial information includes information is selected from the group consisting of a name, an address, a phone number, an e-mail address, a Personal Identification Number (PIN), a bank account number, an account routing number, a check number, a signature, an image of said signature, a physical check, an image of a blank check, an image of a completed check, a check amount, informational elements, and combinations thereof.

7. The method of claim 6, wherein said information elements are selected from the group consisting of a representation of an individual, a representation of a fingerprint, a representation of an individual'"'"'s iris, a representation of an individual'"'"'s DNA, a retinal scan, a Host Based Smart Card, and combinations thereof.

8. The method of claim 1, wherein said representation is selected from the group consisting of a physical, a digital, an electronic, an analog, and a visual or tangible rendering of someone or something that accurately depicts the individual or an object being represented, and combinations thereof.

9. The method of claim 1, wherein settling said third party transaction includes resolving said third party transaction with a financial institution.

10. The method of claim 9, wherein said financial institution is selected from the group consisting a bank of deposit, an Automated Clearing House (ACH), a Clearing Network, a National Automated Clearing House Association (NACHA), a Federal Reserve bank, and combinations thereof.

11. The method of claim 1, wherein said third party transaction is a third party check.

12. The method of claim 1, wherein said third party transaction is a third party payment.

13. A method of transaction processing comprising:

providing a Magnetic Ink Character Recognition (MICR) reader operably adaptable to a Point of Banking (POB) terminal;

providing a scanner operably adaptable to said POB terminal;

receiving a third party transaction at said POB terminal;

receiving financial information of said third party transaction, wherein said financial information comprises at least said MICR data and a representation of said third party transaction; and

settling said third party transaction.

14. The method of claim 13, wherein said third party transaction is selected from the group consisting of a payroll check, a refund check, a rebate check, a redeemable coupon, a personal check, a federal government check, a state government check, a municipal government check, a money order, a bank deposit check, a third party payment, a financially negotiable item, and combinations thereof.

15. The method claim 14, wherein said third party payment is selected from the group of payments consisting of cable, telephone, water, electric, gas, mortgage, credit card, a bank withdrawal, and combinations thereof.

16. The method of claim 13, wherein receiving financial information of said third party transaction occurs one selected from the group consisting of at a Point-of Sales (POS) system, a POB terminal, and combinations thereof.

17. The method of claim 16, wherein the POB terminal includes devices selected from the group comprising of a computer, software, electronically controlled cash drawer, a receipt printer, a bar code scanning device, a magnetic card reading device, a check reading device, hardware and software for Internet access and communication, hardware and software for communication with wireless devices, docking bays and ports for communication with flash/temporary memory devices, a display, and combinations thereof.

18. The method of claim 13, wherein the financial information includes information selected from a group consisting of a name, an address, a phone number, an e-mail address, a Personal Identification Number (PIN), a bank account number, an account routing number, a check number, a signature, an image of said signature, a physical check, an image of a blank check, an image of a completed check, a check amount, informational elements, and combinations thereof.

19. The method of claim 18, wherein said information elements are selected from the group consisting of a representation of an individual, a representation of a fingerprint, a representation of an individual'"'"'s iris, a of an individual'"'"'s DNA, a retinal scan, a Host Based Smart Card, and combinations thereof.

20. The method of claim 13, wherein said representation is selected from the group consisting of a physical, a digital, an electronic, an analog, and a visual or tangible rendering of someone or something that accurately depicts the individual or an object being represented, and combinations thereof.

21. The method of claim 13, wherein settling said third party transaction includes resolving said third party transaction with a financial institution.

22. The method of claim 21, wherein said financial institution is selected from the group consisting a bank of deposit, an Automated Clearing House (ACH), a Clearing Network, a National Automated Clearing House Association (NACHA), a Federal Reserve bank, and combinations thereof.

23. The method of claim 13, wherein said third party transaction is a third party check.

24. The method of claim 13, wherein said third party transaction is a third party payment.

25. A method of transaction processing comprising:

providing a third party transaction;

providing financial information of said third party transaction, wherein said financial information comprises at least a Magnetic Ink Character Recognition (MICR) data and a representation of said third party transaction; and

settling said third party transaction.

26. The method of claim 25, wherein said third party transaction is selected from the group consisting of a payroll check, a refund check, a rebate check, a redeemable coupon, a personal check, a federal government check, a state government check, a municipal government check, a money order, a bank deposit check, a third party payment, a financially negotiable item, and combinations thereof.

27. The method claim 26, wherein said third party payment is selected from the group of payments consisting of cable, telephone, water, electric, gas, mortgage, credit card, a bank deposit, a bank withdrawal, and combinations thereof.

28. The method of claim 25, wherein receiving financial information of said third party transaction occurs one selected from the group consisting of at a Point-of Sales (POS) system, a Point of Banking terminal, and combinations thereof.

29. The method of claim 25, wherein the POB terminal includes devices selected from the group consisting of a computer, software, electronically controlled cash drawer, a receipt printer, a bar code scanning device, a magnetic card reading device, a check reading device, hardware and software for Internet access and communication, hardware and software for communication with wireless devices, docking bays and ports for communication with flash/temporary memory devices, a display, and combinations thereof.

30. The method of claim 25, wherein said financial information includes information selected from the group consisting of a name, an address, a phone number, an e-mail address, a Personal Identification Number (PIN), a bank account number, an account routing number, a check number, a signature, an image of said signature, a physical check, an image of a blank check, an image of a completed check, a check amount, informational elements, and combinations thereof.

31. The method of claim 30, wherein said information elements are selected from a group consisting of a representation of an individual, a representation of a fingerprint, a representation of an individual'"'"'s iris, a representation of an individual'"'"'s DNA, a retinal scan, a Host Based Smart Card, and combinations thereof.

32. The method of claim 25, wherein said representation is selected from the group consisting of a physical, a digital, an electronic, an analog, and a visual or tangible rendering of someone or something that accurately depicts the individual or an object being represented, and combinations thereof.

33. The method of claim 25, wherein settling said third party transaction includes resolving said third party transaction with a financial institution.

34. The method of claim 33, wherein said financial institution is selected from the group consisting of bank of deposit, an Automated Clearing House (ACH), a Clearing Network, a National Automated Clearing House Association (NACHA), a Federal Reserve bank, and combinations thereof.

35. The method of claim 25, wherein said third party transaction is a third party check.

36. The method of claim 25, wherein said third party transaction is a third party payment.