SECURITY SYSTEMS AND METHODS FOR DIGITAL PAYMENTS
First Claim
Patent Images
1. A method for securing digital payments, comprising:
- authenticating a payor comprising a verification of the payor'"'"'s identity;
creating a digital payment responsive to payment instructions from the payor, wherein the digital payment comprises security mechanisms, a globally unique identifier, and payment instructions;
notifying a payee of the digital payment;
providing the digital payment to the payee through secure transmission mechanisms; and
cashing the digital payment.
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Abstract
The present invention provides security mechanisms for digital payments, such as a digitally originated check (DOC). The security mechanisms prevent fraud, tampering, counterfeiting, and the like of a digital payment. In an exemplary embodiment, the present invention utilizes an electronic payment system (EPS) to provide DOCs which can be utilized as Check 21 items, and which include the security mechanisms described herein to provide superior security over existing paper check-based mechanisms.
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Citations
20 Claims
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1. A method for securing digital payments, comprising:
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authenticating a payor comprising a verification of the payor'"'"'s identity; creating a digital payment responsive to payment instructions from the payor, wherein the digital payment comprises security mechanisms, a globally unique identifier, and payment instructions; notifying a payee of the digital payment; providing the digital payment to the payee through secure transmission mechanisms; and cashing the digital payment. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
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11. A secure method for receiving a digital payment, comprising:
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receiving a notification of a digital payment, wherein the notification comprises one of an electronic notification and a paper item comprising a Check 21 compliant substitute check printed from the digital payment; retrieving the digital payment if the notification comprises the electronic notification; determining a globally unique identifier associated with the digital payment, wherein the globally unique identifier is located in the notification; inputting the globally unique identifier in a verification system; and receiving a status of the digital payment from the verification system, wherein the status comprises validity of the digital payment. - View Dependent Claims (12, 13)
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14. A method for providing a secure image of a digital payment, comprising:
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receiving payment instructions; formatting the payment instructions in a secure digital payment file; generating a secure image from the payment instructions, wherein the secure image comprises security configured to prevent tampering and counterfeiting of the image; and providing the secure image to a payee, wherein the payee is defined in the payment instructions. - View Dependent Claims (15, 16, 17, 18, 19, 20)
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Specification