PAYMENT IDENTIFICATION CODE AND PAYMENT SYSTEM USING THE SAME

• US 20130262296A1
• Filed: 01/23/2013
• Published: 10/03/2013
• Est. Priority Date: 04/23/2002
• Status: Abandoned Application

• Current Assignee: The Clearing House Payments Company LLC (The Clearing House LLC)
• Original Assignee: The Clearing House Payments Company LLC (The Clearing House LLC)
• Inventors: Thomas, George F., Wood, Albert G., Pawelczyk, Joseph S., Friedman, Kenneth H., Palmese, Paul
• Application Number:
  US13/748,448
• Publication Number:
  US 20130262296A1
• Time in Patent Office: Days
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/02 involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
• CPC Class Codes: G06Q 20/023 the neutral party being a clearing house
• CPC Class Codes: G06Q 20/027 involving a payment switch or gateway
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 20/108 Remote banking, e.g. home banking
• CPC Class Codes: G06Q 20/14 specially adapted for billing systems
• CPC Class Codes: G06Q 20/382 insuring higher security of transaction
• CPC Class Codes: G06Q 20/385 using an alias or single-use codes
• CPC Class Codes: G06Q 20/4012 Verifying personal identification numbers [PIN]
• CPC Class Codes: G06Q 20/407 Cancellation of a transaction
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes

Abstract

A payment method including determining whether a first routing identifier included in a payment instruction has routing information for a financial institution. The payment instruction also includes a payee-related identifier. If the first routing identifier is determined to include routing information for a financial institution, then a payment message is transmitted based on the first routing identifier, wherein the payment message includes the payee-related identifier. If the first routing identifier is determined to not include routing information for a financial institution, then (a) payee-related account identification information and a second routing identifier are retrieved based on the payee-related identifier, and (b) a payment message including the payee-related account identification information is transmitted to a payee-related destination, based on the second routing identifier. The payment message does not include at least one of the payee-related identifier and the first routing identifier.

Claims

1-15. -15. (canceled)

16. A payment method, comprising:

determining whether a first routing identifier included in a payment instruction has routing information for a financial institution, the payment instruction also including a payee-related identifier;

if the first routing identifier is determined to include routing information for a financial institution, then transmitting a payment message based on the first routing identifier, the payment message including the payee-related identifier; and

if the first routing identifier is determined to not include routing information for a financial institution, then;

retrieving payee-related account identification information and a second routing identifier based on the payee-related identifier, and

transmitting a payment message including the payee-related account identification information to a payee-related destination, based on the second routing identifier, the payment message not including at least one of the payee-related identifier and the first routing identifier;

wherein the steps above are performed by at least one computer processor.

17. A method according to claim 16, wherein at least one of the determining and transmittings is performed by a payment system.

18. A method according to claim 17, wherein the payment system is an automated clearing house (ACH).

19. A method according to claim 17, wherein the payment system is a funds-transfer system.

20. A method according to claim 16, further comprising:

managing data stored at a database, the data including at least one of a name and the second routing identifier; and

generating an access request to the database for at least the second routing identifier.

21. A method according to claim 20, wherein the database is a secure database of a trusted third party.

22. A method according to claim 16, further comprising providing an instruction to debit an account of a payor.

23. A method according to claim 16, wherein the payee-related destination is a first financial institution, and wherein a payee account is credited at at least one second financial institution.

24. A method according to claim 23, further comprising communicating between the first financial institution and the at least one second financial institution to effect crediting of the payee account.

25. A method according to claim 23, wherein each payment message also specifies a value representing an amount to be paid, and wherein a payee account is credited based on the value.

26. A method according to claim 16, wherein the retrieving is performed at a third party entity.

27. A method according to claim 16, wherein at least one of the determining and transmittings is performed electronically.

28. A method according to claim 16, further comprising validating the payee-related identifier against a database of codes.

29. A method according to claim 16, wherein the account identification information includes at least an account number of a payee account.

30. A method according to claim 16, wherein the first routing identifier does not identify a financial institution.

31. A method according to claim 16, wherein the second routing identifier does not identify a payee financial institution.

32. A method according to claim 16, wherein the payment instruction is initiated from a payor.

33. A method according to claim 16, wherein the payment instruction is initiated from a financial institution.

34. A method according to claim 16, further comprising a payor providing the payee-related identifier to initiate the payment instruction.

35. A method according to claim 16, further comprising:

if the first routing identifier is determined to not include routing information for a financial institution, then replacing the payee-related identifier included in the payment instruction with the retrieved payee-related account identification information and replacing the first routing identifier with the second routing identifier.

36. A method according to claim 16, wherein the first routing identifier is a unique pseudo-code, and the payee-related identifier is a further unique pseudo-code.

37. A system comprising:

a determining unit that determines whether a first routing identifier included in a payment instruction has routing information for a financial institution, the payment instruction also including a payee-related identifier; and

a transmitting unit configured to

if the first routing identifier is determined to include routing information for a financial institution, transmit a payment message based on the first routing identifier, the payment message including the payee-related identifier, and

if the first routing identifier is determined to not include routing information for a financial institution, then;

retrieve payee-related account identification information and a second routing identifier based on the payee-related identifier, and

transmit a payment message including the payee-related account identification information to a payee-related destination, based on the second routing identifier, the payment message not including at least one of the payee-related identifier and the first routing identifier,

wherein the units above are included in at least one computer.

38. A non-transitory computer readable medium having stored thereon sequences of instructions, the sequences of instructions including instructions which, when executed by a computer system, cause the computer system to perform a method comprising:

determining whether a first routing identifier included in a payment instruction has routing information for a financial institution, the payment instruction also including a payee-related identifier;

if the first routing identifier is determined to include routing information for a financial institution, then transmitting a payment message based on the first routing identifier, the payment message including the payee-related identifier; and

if the first routing identifier is determined to not include routing information for a financial institution, then;

retrieving payee-related account identification information and a second routing identifier based on the payee-related identifier, and

transmitting a payment message including the payee-related account identification information to a payee-related destination, based on the second routing identifier, the payment message not including at least one of the payee-related identifier and the first routing identifier.

39. An apparatus comprising:

at least one memory storing a computer program; and

at least one computer processor coupled to the at least one memory, and operating under control of the computer program stored in the at least one memory, to;

determine whether a first routing identifier included in a payment instruction has routing information for a financial institution, the payment instruction also including a payee-related identifier,

if the first routing identifier is determined to include routing information for a financial institution, then transmit a payment message based on the first routing identifier, the payment message including the payee-related identifier, and

if the first routing identifier is determined to not include routing information for a financial institution, then;

retrieve payee-related account identification information and a second routing identifier based on the payee-related identifier, and

transmit a payment message including the payee-related account identification information to a payee-related destination, based on the second routing identifier, the payment message not including at least one of the payee-related identifier and the first routing identifier.

40. An apparatus according to claim 39, wherein the at least one processor is associated with an automated clearing house (ACH).

41. An apparatus according to claim 39, wherein the at least one processor is associated with a funds-transfer system.

42. An apparatus according to claim 39, wherein the at least one computer processor also operates under control of the computer program to:

manage data stored at a database, the data including at least one of a name and the second routing identifier; and

generate an access request to the database for at least the second routing identifier.

43. An apparatus according to claim 42, wherein the database is a secure database of a trusted third party.

44. An apparatus according to claim 39, wherein the at least one computer processor also operates under control of the computer program to provide an instruction to debit a payor account.

45. An apparatus according to claim 39, wherein the payee-related destination is a first financial institution, and wherein a payee account is credited at at least one second financial institution.

46. An apparatus according to claim 45, wherein the first financial institution and the second financial institution communicate to effect crediting of the payee account.

47. An apparatus according to claim 45, wherein each payment message also specifies a value representing an amount to be paid, and wherein a payee account is credited based on the value.

48. An apparatus according to claim 39, wherein retrieval of the payee-related account identification information includes accessing such information via a third party entity.

49. An apparatus according to claim 39, wherein the at least one computer processor also operates under control of the computer program to validate the payee-related identifier against a database of codes.

50. An apparatus according to claim 39, wherein the payee-related account identification information includes at least a payee-related account number.

51. An apparatus according to claim 39, wherein the first routing identifier does not identify a financial institution.

52. An apparatus according to claim 39, wherein the second routing identifier does not identify a payee-related financial institution.

53. An apparatus according to claim 39, wherein the at least one computer processor also operates under control of the computer program to:

replace the payee-related identifier included in the payment instruction with the payee-related account identification information and replace the first routing identifier with the second routing identifier, if the first routing identifier is determined to not include routing information.

54. An apparatus according to claim 39, wherein the first routing identifier is a pseudo-routing number, and the payee-related identifier is a pseudo-account number.