Monetary Transaction Control Code System

• US 20120209777A1
• Filed: 02/16/2011
• Published: 08/16/2012
• Est. Priority Date: 02/16/2011
• Status: Abandoned Application

• Current Assignee: Todd Tredeau, Vasil Kostov
• Original Assignee: Todd Tredeau, Vasil Kostov
• Inventors: Tredeau, Todd, Kostov, Vasil
• Application Number:
  US13/028,818
• Publication Number:
  US 20120209777A1
• Time in Patent Office: Days
• US Class Current: 705/64
• CPC Class Codes: G06Q 20/042 characterized in that the payment protocol involves at least one cheque
• CPC Class Codes: G06Q 20/3821 Electronic credentials

Abstract

A payment system is provided having an internet interface. In one embodiment, the payment system issues instruments having control codes. The system may issue a first portion of the control code, and retain a second portion of the control code for later issuance. Such later issuance activates the instrument. Some embodiments have a role-based security access scheme. For example, one embodiment provides a security verification score to be used in assigning user permissions on the payment system. Customer service representatives having different security permissions complete different portions of the security scoring and permission assignment process. Some embodiments have automated processing of security verification items submitted by users.

Claims

1. A payment system comprising:

an internet server programmed to host an interface;

a database communicatively coupled to the internet server, the database containing account data to be used in creating transactional instruments;

a control code generator communicatively coupled to the database, the control code generator programmed to generate a first portion of a control code and a second portion of the control code;

the first portion of the control code for delivery with a selected transactional instrument;

the second portion of the control code for inclusion with the selected transactional instrument, after delivery;

a control code verifier communicatively coupled to the database, the control code verifier programmed to receive requests for verification and send responses to the requests for verification of the first portion and the second portion of the control code; and

a negotiable instrument, the negotiable instrument created by verification of the first and second portions of the control code.

2. The payment system of claim 1 in which the control code generator generates the first and second portions of the control code simultaneously.

3. The payment system of claim 1 further comprising a security verification screen module for receiving a security verification confidence ranking relating to each of one or more user-submitted security verification items.

4. The payment system of claim 3 further comprising a security verification score calculated by summing one or more weighted confidence rankings each relating to a selected one of one or more user-submitted security verification items, the weighted confidence rankings each being calculated by multiplying a security verification confidence ranking of the selected user-submitted security verification items times a security verification item weight of each security verification item, the security verification item weight being determined from a category of each security verification item.

5. The payment system of claim 1 in which the internet server hosts a world wide web interface.

6. The payment system of claim 1 in which the control code verifier receives an indication of an instrument number, an indication of the control code, and an indication of the amount of the instrument.

7. The payment system of claim 1 in which the control code verifier is programmed to receive an indication of a reason for validation.

8. The payment system of claim 1 in which the control code verifier is programmed to provide a history of validation to an authorized user.

9. The payment system of claim 1 wherein the transaction instrument is printed.

10. The payment system of claim 9 wherein the transaction instrument is printed using magnetic image character recognition (MICR) font characters.

11. The payment system of claim 1 wherein the transaction instrument is electronic.

12. A payment system comprising:

an internet server programmed to host an interface;

a database communicatively coupled to the internet server, the database containing account data to be used in creating transactional instruments;

a control code generator communicatively coupled to the database, the control code generator programmed to generate a first portion of a control code and a second portion of the control code;

the first portion of the control code for delivery with a selected transactional instrument;

the second portion of the control code for inclusion with the selected transactional instrument, after delivery;

a control code verifier communicatively coupled to the database, the control code verifier programmed to receive requests for verification and send responses to the requests for verification of the first portion and the second portion of the control code; and

a security verification screen module communicatively coupled to the interface, the security verification screen module programmed to receive a security verification confidence ranking relating to each of one or more user-submitted security verification items

a negotiable instrument, the negotiable instrument created by verification of the first and second portions of the control code.

13. The payment system of claim 12 in which the control code generator generates the first and second portions of the control code simultaneously.

14. The payment system of claim 12 further comprising a security verification score calculated by summing one or more weighted confidence rankings each relating to a selected one of one or more user-submitted security verification items, the weighted confidence rankings each being calculated by multiplying a security verification confidence ranking of the selected user-submitted security verification items times a security verification item weight of each security verification item, the security verification item weight being determined from a category of each security verification item.

15. The payment system of claim 12 in which the internet server hosts a world wide web interface.

16. The payment system of claim 12 in which the control code verifier receives an indication of an instrument number, an indication of the control code, and an indication of the amount of the instrument.

17. The payment system of claim 12 in which the control code verifier is programmed to receive an indication of a reason for validation.

18. The payment system of claim 12 in which the control code verifier is programmed to provide a history of validation to an authorized user.

19. The payment system of claim 12 wherein the transaction instrument is printed.

20. The payment system of claim 12 wherein the transaction instrument is electronic.