CHECK CONVERSION PLUS
First Claim
Patent Images
1. A computerized method for merchants to accept authorized checks and receive payment on the same electronically from a third-party service provider comprising the following steps:
- scanning a check from a check writer at a merchant location to acquire a check image;
transmitting the image of the check to a third party service provider, wherein the third party service provider processes the check using the following steps;
retrieving statistical data related to the check writer from the check image;
validating the statistical data against a database of check writer data to determine a probability that the check will be honored;
notifying the merchant that the check is declined when the probability is low, and providing the merchant with an option to override the decline and accept the check;
storing the check image in an image repository;
printing a sight draft of the check; and
depositing the image of the check in a bank account for processing.
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Abstract
A system for merchants to electronically process statistically-analyzed checks and receive payment on the same electronically from a third-party service provider while the image of the check writer'"'"'s check is stored electronically and the payment itself is presented through the normal check-processing system.
45 Citations
4 Claims
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1. A computerized method for merchants to accept authorized checks and receive payment on the same electronically from a third-party service provider comprising the following steps:
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scanning a check from a check writer at a merchant location to acquire a check image; transmitting the image of the check to a third party service provider, wherein the third party service provider processes the check using the following steps; retrieving statistical data related to the check writer from the check image; validating the statistical data against a database of check writer data to determine a probability that the check will be honored; notifying the merchant that the check is declined when the probability is low, and providing the merchant with an option to override the decline and accept the check; storing the check image in an image repository; printing a sight draft of the check; and depositing the image of the check in a bank account for processing. - View Dependent Claims (2, 3, 4)
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Specification