Electronic funds transfer instruments
First Claim
1. A computer-based method comprisingcreating an electronic instrument for effecting a transfer of funds from an account of a payer in a funds-holding institution to a payee, the instrument including an electronic signature of the payer, andappending, to the electronic instrument, digital representations of a verifiable certificate by the institution of the authenticity of the account or the account holder.
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Accused Products
Abstract
An electronic instrument is created in a computer-based method for effecting a transfer of funds from an account of a payer in a funds-holding institution to a payee. The electronic instrument includes an electronic signature of the payer, digital representations of payment instructions, the identity of the payer, the identity of the payee, and the identity of the funds-holding institution. A digital representation of a verifiable certificate by the institution of the authenticity of the instrument is appended to the instrument. This enables a party receiving the instrument, e.g., the payee or a bank, to verify the authenticity of the account or account holder. The invention may be generally applied to any financial electronic document.
1861 Citations
51 Claims
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1. A computer-based method comprising
creating an electronic instrument for effecting a transfer of funds from an account of a payer in a funds-holding institution to a payee, the instrument including an electronic signature of the payer, and appending, to the electronic instrument, digital representations of a verifiable certificate by the institution of the authenticity of the account or the account holder.
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2. A computer-based method comprising
effecting a transfer of funds from an account of a payer in a funds-holding institution to a payee in accordance with instructions of the payer, by creating an electronic instrument which includes digital representations of (a) the instructions, (b) the identity of the payer, (c) the identity of the payee, and (d) the identity of the funds-holding institution, including with the electronic instrument, digital representations of (a) a verifiable signature of the payer, and (b) a verifiable certificate by the institution of the authenticity of the payer and of a public signature verification key of the payer, electronically delivering the electronic instrument to the institution at least in part via a publicly accessible data communication medium, and at the institution, verifying the signature of the payer and the certificate in connection with transmitting the funds to the payee.
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27. Apparatus comprising
a token having a memory, a processor, and a port for communication with a computer, and in which the memory contains a private encryption key associated with an account in a funds-holding institution and which is usable to append a secure, verifiable signature to an electronic payment instrument drafted on the account, and certification information provided by the institution and which is usable to append a secure, verifiable certificate to the instrument to certify a relationship between an owner of the signature and a public key of the owner.
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40. A computer-based method of creating an electronic payment instrument comprising
forming digital payment data which represents the identity of the payer, the identity of the payee, and the amount to be paid, in a secure hardware token, appending a digital signature and a verifiable certificate by a funds-holding institution of the authenticity of the payer to the data.
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41. A computer-based method of endorsing a payment instrument comprising
entering information included in the payment instrument in digital form into a secure hardware token, and in the token, appending a digital signature and a verifiable certificate by a funds-holding institution of the authenticity of the payer to the digital information.
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42. A computer-based method for regulating use of account numbers with respect to accounts in a funds-holding institution, comprising
assigning digital account numbers for use by account holders in creating electronic instruments, the digital account numbers being distinct from non-electronic account numbers used by account holders with respect to non-electronic instruments, at the fund-holding institution, accepting electronic instruments from account holders only if the electronic instruments include one of the digital account numbers.
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44. A computer-based method of attaching a document to a related electronic payment instrument comprising,
forming a cryptographic hash of the document, and appending the hash to the electronic payment instrument.
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45. A computer-based method for reducing fraud with respect to deposit of an electronic instrument with a funds-holding institution, comprising
including with the electronic instrument a key-encrypted signature of the payee and a public key of the payee, and at the institution, automatically checking a routing code and an account number to which the electronic instrument relates before accepting the electronic instrument.
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46. A computer-based method for reducing fraud associated with an electronic payment instrument comprising
appending to the electronic payment instrument a cryptographic signature associated with a party to the instrument and a digital representation of a verifiable certificate by a funds-holding institution of the authenticity of the party, and upon receipt of the electronic payment instrument, automatically checking the cryptographic signature and the certificate against cryptographic signature information of other electronic payment instruments previously received.
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47. A computer-based method for use with an electronic payment instrument comprising
including in the electronic payment instrument, a serial number, a payment amount, a payer, a payee, and a date, transmitting the electronic payment instrument via a communication network from an inquiring party to a funds-holding institution having an account associated with the payer, at the funds-holding institution determining whether another electronic payment instrument having the same payer and the same serial number had previously been issued, electronically advising the inquiring party based on the determination.
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48. A computer-based method for use with an electronic payment instrument comprising
printing a paper version of the electronic payment instrument with digital signatures and digital certificates by an issuing bank of the authenticity of an account or an account holder to which the instrument relates, passing the paper version through the check clearing system to the issuing bank, at the issuing bank, scanning the paper version to derive a digital version, and at the issuing bank electronically verifying the digital version based on the signatures and the certificates.
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49. Apparatus for maintaining bank account information electronically comprising
a portable token holding information for enabling a user to add signatures and certifications by a funds-holding institution of the authenticity of the account or an account holder to an electronic banking instrument drawn on the account, and a separate portable token holding a register of transactions associated with the account.
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51. A method for regulating the use of an electronic financial document comprising
including with the document an electronic signature and an electronic certification by a funds-holding institution of the validity of an account to which the document relates, accepting the electronic financial document as valid only if the signature and certification are electronically determined to be valid.
Specification