SYSTEM AND METHOD OF CREDIT DATA COLLECTION AND VERIFICATION
First Claim
Patent Images
1. A system for verifying and reporting payment data, the system comprising:
- a user terminal;
a payment data repository terminal connected to the user terminal;
a payment data database connected to the payment data repository terminal;
a verifier terminal connected to the payment data repository terminal; and
a recipient terminal connected to the payment data repository terminal;
wherein the payment data repository terminal is configured to perform the steps ofreceiving from a user via the user terminal a request for verification of a plurality of payments in a stream of payments, the request including an identification of a payee to whom the payments were made;
transmitting to a verifier via the verifier terminal the request for verification of the plurality of payments and the identification of the payee;
receiving from the verifier an indication that the payments have been verified through contact with the payee;
storing an indication of the verification in the payment data database; and
outputting a verification report to a recipient via the recipient terminal;
wherein the user has no knowledge of an identity of the verifier when the request for verification is made.
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Accused Products
Abstract
A system and method for verifying a stream of payments includes accepting a request for verification and, optionally, supporting documentation relating to the payments from a user such as a consumer and transmitting the request and the supporting documentation to a verifier who is unknown to the consumer at the time the request is made. The verifier directly contacts the payee to verify the payment stream. If the verifier indicates that the payment stream has been verified, the consumer is notified and given the opportunity to designate a third party recipient to whom the verification will be sent.
125 Citations
22 Claims
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1. A system for verifying and reporting payment data, the system comprising:
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a user terminal; a payment data repository terminal connected to the user terminal; a payment data database connected to the payment data repository terminal; a verifier terminal connected to the payment data repository terminal; and a recipient terminal connected to the payment data repository terminal; wherein the payment data repository terminal is configured to perform the steps of receiving from a user via the user terminal a request for verification of a plurality of payments in a stream of payments, the request including an identification of a payee to whom the payments were made; transmitting to a verifier via the verifier terminal the request for verification of the plurality of payments and the identification of the payee; receiving from the verifier an indication that the payments have been verified through contact with the payee; storing an indication of the verification in the payment data database; and outputting a verification report to a recipient via the recipient terminal; wherein the user has no knowledge of an identity of the verifier when the request for verification is made. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11)
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12. A method for verifying and reporting payment data, the method comprising:
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receiving a request from a user for verification of a plurality of payments in a stream of payments, the request including an identification of a payee to whom the plurality of payments were made; transmitting the request and the identification of the payee to a verifier, without revealing an identity of the verifier to the user when the request is made; receiving from the verifier an indication that the plurality of payments has been verified through contact with the payee; storing an indication of the verification in a payment data database; and communicating a report including an indication of the verification to a recipient; wherein the user has no knowledge of an identity of the verifier when the request for verification has been made. - View Dependent Claims (13, 14, 15, 16, 17, 18, 19, 20, 21, 22)
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Specification