Method and apparatus for making payments and delivering payment information
First Claim
1. An improved method of making payments from a plurality of payor entities to a plurality of payee entities through the coordinated operation of a service provider and a trusted intermediary financial institution, comprising the method steps of:
- utilizing at least one data processing system to sort and format payment information separately for each of said plurality of payor entities concerning a plurality of payment obligations;
communicating said payment information separately from each of said plurality of payor entities to said service provider and said trusted intermediary financial institution;
utilizing at least one data processing system under control of said service provider to consolidate said plurality of payment obligations from said plurality of payor entities in accordance with at least one predetermined consolidation criterion;
directing a plurality of negotiable instruments from said service provider to said plurality of payees in order to satisfy said plurality of payment obligations;
utilizing at least one data processing system under control of said trusted intermediary financial institution to transfer automatically funds in order to honor said plurality of negotiable instruments.
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Abstract
When characterized as an improved method of making payments from a plurality of payor entities to a plurality of payee entities through a service provider, a number of method steps which will now be described. First, authorization is obtained from a plurality of payor entities which allows a service provider to make payments, on behalf of the plurality of payor entities, to a plurality of payee entities. Then at least one trusted intermediary financial institution is selected. The trusted intermediary financial institution periodically receives payment information and payment authorization from the plurality of payor entities. The trusted intermediary financial institution automatically transfers funds, in amounts only consistent with at least the payment information, to the service provider. Preferably, the payment information includes at least (1) an identification of each of the plurality of payee entities; (2) an identification of payment amounts for each of the plurality of payee entities; (3) a payment record identifier which is uniquely associated with each payment; and (4) an authorization code which is uniquely associated with each payment record identifier.
365 Citations
70 Claims
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1. An improved method of making payments from a plurality of payor entities to a plurality of payee entities through the coordinated operation of a service provider and a trusted intermediary financial institution, comprising the method steps of:
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utilizing at least one data processing system to sort and format payment information separately for each of said plurality of payor entities concerning a plurality of payment obligations;
communicating said payment information separately from each of said plurality of payor entities to said service provider and said trusted intermediary financial institution;
utilizing at least one data processing system under control of said service provider to consolidate said plurality of payment obligations from said plurality of payor entities in accordance with at least one predetermined consolidation criterion;
directing a plurality of negotiable instruments from said service provider to said plurality of payees in order to satisfy said plurality of payment obligations;
utilizing at least one data processing system under control of said trusted intermediary financial institution to transfer automatically funds in order to honor said plurality of negotiable instruments. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13)
communicating data processing system readable payment authorization information from said plurality of payor entities to said trusted intermediary financial institution; and
utilizing said at least one data processing system under control of said trusted intermediary financial institution to verify said data processing system readable payment authorization information from said plurality of payor entities prior to honoring said plurality of negotiable instruments.
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4. An improved method of making payments according to claim 3, wherein said data processing system readable payment authorization information includes:
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(a) a payment record identifier for each payment obligation of said plurality of payment obligations;
(b) an identification of payment amount for each payment obligation of said plurality of payment obligations; and
(c) an authorization code uniquely associated with each payment record identifier.
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5. An improved method of making payments according to claim 1, further comprising:
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communicating data processing system readable payment verification information from said service provider to said trusted intermediary financial institution;
utilizing said at least one data processing system under control of said trusted intermediary financial institution to verify said plurality of negotiable instruments utilizing at least said data processing system readable payment verification information from said service provider.
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6. An improved method of making payments according to claim 5, wherein said data processing system readable payment verification information includes:
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(a) an identification of each of said plurality of negotiable instruments;
(b) an identification of the payment amount of each of said plurality of negotiable instruments; and
(c) an identification of each payment obligation satisfied by each of said plurality of negotiable instruments.
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7. An improved method of making payments according to claim 1, further comprising the method steps of:
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communicating data processing system readable payment authorization information from said plurality of payor entities to said trusted intermediary financial institution;
communicating data processing system readable payment verification information from said service provider to said trusted intermediary financial institution;
utilizing said at least one data processing system under control of said trusted intermediary financial institution to verify said plurality of negotiable instruments utilizing both of (1) said data processing system readable payment authorization information from said plurality of payor entities, and (2) said data processing system readable payment verification information from said service provider.
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8. An improved method of making payments according to claim 1, further comprising the method step of:
communicating data processing system readable payment confirmation information from at least one of (1) said service provider and (2) said trusted intermediary financial institution to said plurality of payors.
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9. An improved method of making payments according to claim 8, wherein said data processing system readable payment information includes:
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(a) a payment record identifier for each payment obligation of said plurality of payment obligations which has been satisfied;
(b) an identification of each negotiable instrument utilized by said service provider to satisfy said plurality of payment obligations.
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10. An improved method of making payments according to claim 1 further comprising the method steps of:
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establishing a payor banking account for each of said plurality of payors;
allowing predefined access to said payor banking account for each said plurality of payors by said trusted intermediary financial institution;
establishing a service provider banking account;
allowing predefined access to said service provider banking account by said trusted intermediary financial institution;
utilizing at least one data processing system under control of said trusted intermediary financial institution to transfer automatically funds between particular ones of said payor banking accounts for each of said plurality of payors and said service provider banking account in order to honor verified ones of said plurality of negotiable instruments.
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11. An improved method of making payments according to claim 10, wherein said step of utilizing at least one data processing system under control of said trusted intermediary financial institution to transfer automatically funds comprises:
utilizing at least one data processing system under control of said trusted intermediary financial institution to transfer automatically funds between particular ones of said payor banking accounts for each of said plurality of payors and said service provider banking account utilizing electronic funds transfers in order to honor verified ones of said plurality of negotiable instruments.
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12. An improved method of making payments according to claim 11, further comprising:
grouping electronic funds transfer operations for a predefined time interval for particular ones of said payor banking accounts in order to minimize the number of electronic funds transfers.
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13. An improved method of making payments according to claim 1, further comprising:
providing with each of said plurality of negotiable instruments a report which provides detailed information relating to each of said plurality of payment obligations satisfied by said negotiable instruments.
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14. A means for making payments from a plurality of payor entities to a plurality of payee entities through the coordinated operation of said plurality of payor entities, a service provider, and a trusted intermediary financial institution, comprising:
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means for utilizing at least one data processing system to sort and format payment information separately for each of said plurality of payor entities concerning a plurality of payment obligations;
means for communicating said payment information separately from each of said plurality of payor entities to said service provider and said trusted intermediary financial institution;
means for utilizing at least one data processing system under control of said service provider to consolidate said plurality of payment obligations from said plurality of payor entities in accordance with at least one predetermined consolidation criterion;
means for directing a plurality of negotiable instruments from said service provider to said plurality of payees in order to satisfy said plurality of payment obligations;
means for utilizing at least one data processing system under control of said trusted intermediary financial institution to transfer funds automatically in order to honor said plurality of negotiable instruments. - View Dependent Claims (15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26)
means for communicating data processing system readable payment authorization information from said plurality of payor entities to said trusted intermediary financial institution; and
means for utilizing said at least one data processing system under control of said trusted intermediary financial institution to verify said data processing system readable payment authorization information from said plurality of payor entities.
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17. A means for making payments according to claim 14, wherein said data processing system readable payment authorization information includes:
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(a) a payment record identifier for each payment obligation of said plurality of payment obligations;
(b) an identification of payment amounts for each payment obligation of said plurality of payment obligations; and
(c) an authorization code uniquely associated with each payment record identifier.
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18. A means for payments according to claim 14, further comprising:
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means for communicating data processing system readable payment verification information from said service provider to said trusted intermediary financial institution;
means for utilizing said at least one data processing system under control of said trusted intermediary financial institution to verify said plurality of negotiable instruments utilizing at least said data processing system readable payment verification information from said service provider.
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19. A means for making payments according to claim 18, wherein said data processing system readable payment verification information includes:
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(a) an identification of each of said plurality of negotiable instruments;
(b) an identification of the payment amount of each of said plurality of negotiable instruments; and
(c) an identification of each payment obligations satisfied by each of said plurality of negotiable instruments.
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20. A means for making payments according to claim 14, further comprising:
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means for communicating data processing system readable payment authorization information from said plurality of payor entities to said trusted intermediary financial institution;
means for communicating data processing system readable payment verification information from said service provider to said trusted intermediary financial institution;
means for utilizing said at least one data processing system under control of said trusted intermediary financial institution to verify said plurality of negotiable instruments utilizing both of (1) said data processing system readable payment authorization information from said plurality of payor entities, and (2) said data processing system readable payment verification information from said service provider.
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21. A means for making payments according to claim 14, further comprising:
means for communicating data processing system readable payment confirmation information from at least one of (1) said service provider and (2) said trusted intermediary financial institution to said plurality of payors.
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22. A means for making payments according to claim 21, wherein said data processing system readable payment information includes:
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(a) a payment record identifier for each payment obligation of said plurality of payment obligations which has been satisfied;
(b) an identification of each negotiable instrument utilized by said service provider to satisfy said plurality of payment obligation.
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23. A means for making payments according to claim 14, further comprising:
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establishing a payor banking account for each of said plurality of payors;
allowing predefined access to said payor banking account for each of said plurality of payors by said trusted intermediary financial institution;
establishing a service provider banking account;
allowing predefined access to said service provider banking account by said trusted intermediary financial institution;
utilizing at least one data processing system under control of said trusted intermediary financial institution to transfer automatically funds between particular ones of said payor banking accounts for each of said plurality of payors and said service provider banking account in order to honor verified ones of said plurality of negotiable instruments.
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24. A means for making payments according to claim 23, wherein said step of utilizing at least one data processing system under control of said trusted intermediary financial institution to transfer automatically funds comprises:
means for utilizing at least one data processing system under control of said trusted intermediary financial institution to transfer automatically funds between particular ones of said payor banking accounts for each of said plurality of payors and said service provider banking account utilizing electronic funds transfers in order to honor verified ones of said plurality of negotiable instruments.
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25. A means for making payments according to claim 24, further comprising:
means for grouping electronic funds transfer operations for a predefined time interval for particular ones of said payor banking accounts in order to minimize the number of electronic funds transfers.
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26. A means for making payments according to claim 24, further comprising:
means for providing with each of said plurality of negotiable instruments a report which provides detailed information relating to each payment obligation satisfied by said negotiable instruments.
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27. An improved method of making payments from a plurality of payor entities to a plurality of payee entities through the coordinated operation of said plurality of payor entities, a service provider, and a trusted intermediary financial institution, comprising the method steps of:
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utilizing at least one data processing system to sort and format payment information from said plurality of payor entities concerning a plurality of payment obligations;
communicating said payment information to said service provider and said trusted intermediary financial institution;
utilizing at least one data processing system under control of said service provider to consolidate said plurality of payment obligations from said plurality of payor entities in accordance with at least one predetermined consolidation criterion;
directing a plurality of negotiable instruments from said service provider to said plurality of payees in order to satisfy said plurality of payment obligations;
utilizing at least one data processing system under control of said trusted intermediary financial institution to (1) verify said plurality of negotiable instruments, and (2) automatically transfer funds in order to honor verified ones of said plurality of negotiable instruments. - View Dependent Claims (28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39)
communicating data processing system readable payment authorization information from said plurality of payor entities to said trusted intermediary financial institution; and
utilizing said at least one data processing system under control of said trusted intermediary financial institution to verify said plurality of said payment authorization information from said plurality of payor entities.
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30. An improved method of making payments according to claim 29, wherein said data processing system readable payment authorization information includes:
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(a) a payment record identifier for each payment obligation of said plurality of payment obligations;
(b) an identification of payment amounts for each payment obligation of said plurality of payment obligations; and
(c) an authorization code uniquely associated with each payment record identifier.
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31. An improved method of making payments according to claim 27, further comprising:
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communicating data processing system readable payment verification information from said service provider to said trusted intermediary financial institution;
utilizing said at least one data processing system under control of said trusted intermediary financial institution to verify said plurality of negotiable instruments utilizing at least said data processing system readable payment verification information from said service provider.
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32. An improved method of making payments according to claim 31, wherein said data processing system readable payment verification information includes:
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(a) an identification of each of said plurality of negotiable instruments;
(b) an identification of the payment amount of each of said plurality of negotiable instruments; and
(c) an identification of each payment obligation satisfied by each of said plurality of negotiable instruments.
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33. An improved method of making payments according to claim 27, further comprising the method steps of:
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communicating data processing system readable payment authorization information from said plurality of payor entities to said trusted intermediary financial institution;
communicating data processing system readable payment verification information from said service provider to said trusted intermediary financial institution;
utilizing said at least one data processing system under control of said trusted intermediary financial institution to verify said plurality of negotiable instruments utilizing both of (1) said data processing system readable payment authorization information from said plurality of payor entities, and (2) said data processing system readable payment verification information from said service provider.
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34. An improved method of making payments according to claim 27, further comprising the method step of:
communicating data processing system readable payment confirmation information from at least one of (1) said service provider and (2) said trusted intermediary financial institution to said plurality of payors.
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35. An improved method of making payments according to claim 34, wherein said data processing system readable payment information includes:
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(a) a payment record identifier for each payment obligation of said plurality of payment obligations which has been satisfied;
(b) an identification of each negotiable instrument utilized by said service provider to satisfy said plurality of payment obligations.
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36. An improved method of making payments according to claim 27, further comprising the method steps of:
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establishing a payor banking account for each of said plurality of payors;
allowing predefined access to said payor banking account for each of said plurality of payors by said trusted intermediary financial institution;
establishing a service provider banking account;
allowing predefined access to said service provider banking account by said trusted intermediary financial institution;
utilizing at least one data processing system under control of said trusted intermediary financial institution to transfer automatically funds between particular ones of said payor banking accounts for each of said plurality of payors and said service provider banking account in order to honor verified ones of said plurality of negotiable instruments.
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37. An improved method of making payments according to claim 36, wherein said step of utilizing at least one data processing system under control of said trusted intermediary financial institution to transfer automatically funds comprises:
utilizing at least one data processing system under control of said trusted intermediary financial institution to transfer automatically funds between particular ones of said payor banking accounts for each of said plurality of payors and said service provider banking account utilizing electronic funds transfers in order to honor verified ones of said plurality of negotiable instruments.
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38. An improved method of making payments according to claim 37, further comprising:
grouping electronic funds transfer operations for a predefined time interval for particular ones of said payor banking accounts in order to minimize the number of electronic funds transfers.
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39. An improved method of making payments according to claim 27, further comprising:
providing with each of said plurality of negotiable instruments a printed report which provides detailed information relating to each of said plurality of payment obligations satisfied by said negotiable instruments.
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40. An improved method of making payments from a plurality of payor entities to a plurality of payee entities through a service provider, comprising the method steps of:
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(a) obtaining authorization from said plurality of payor entities which allows said service provider to make payments on behalf of said plurality of payor entities to said plurality of payee entities;
(b) arranging for at least one trusted intermediary financial institution to periodically receive data processing system readable payment information and payment authorization from said plurality of payor entities, and to transfer automatically funds in amounts consistent with at least said payment information to said service provider;
(c) said payment information and payment authorization including at least;
(1) a payment record identifier uniquely associated with each payment obligation;
(2) an identification of payment amounts for each of said plurality of payment obligations; and
(3) an authorization code uniquely associated with each payment record identifier;
(d) periodically communicating data processing system readable payment instructions from said plurality of payor entities to said service provider;
(e) said data processing system readable payment instructions including at least;
(1) an identification of each of said plurality of payee entities;
(2) an identification of payment amounts for each of said plurality of payee entities; and
(3) a payment record identifier uniquely associated with payment obligation;
(f) utilizing said service provider to (1) consolidate payment instructions from said plurality of payor entities utilizing at least one data processing system, (2) direct a negotiable instrument to each of said plurality of payee entities, (3) generate payment verification information for said negotiable instruments, and (4) communicate said payment verification information to said trusted intermediary financial institution; and
(g) upon receipt of a negotiable instrument from any of said plurality of payee entities, utilizing said trusted intermediary financial institution to (1) verify said request for payment, and (2) transfer funds between said plurality of payor entities and said service provider to effect payment;
(h) obtaining authorization from said plurality of payor entities, which allows said service provider to make payments on behalf of said payor entities to said plurality of payee entities, substantially concurrently with said step of periodically communicating payment instructions from said plurality of payor entities to said service provider. - View Dependent Claims (41, 42, 43, 44, 45, 46, 47, 48, 49)
arranging for at least one trusted intermediary financial institution to (1) periodically receive payment information and payment authorization from said plurality of payor entities, with said payment information and payment authorization comprising an electronic record which is transmittable within a distributed data processing system, and (2) automatically transfer funds in amounts consistent with at least said payment information to said service provider.
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44. An improved method of making payments according to claim 40, wherein each of said payment record identifiers comprise a transaction identifier established by a particular one of said plurality of payor entities to represent a particular payment transaction.
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45. An improved method of making payments according to claim 40, wherein said payment information is arranged in a data block with a plurality of predefined data fields provided to define at least:
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(1) a payment record identifier uniquely associated with each payment obligation;
(2) an identification of payment amounts for each of said plurality of payment obligations; and
(3) an authorization code uniquely associated with each payment record identifier.
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46. An improved method of making payments, according to claim 40:
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wherein payment obligations arise from relationships monitored at least by said plurality of payor entities;
said method further including;
for each of said plurality of payor entities;
(1) searching at least one data base for at least one particular payment obligation for a preselected time interval; and
(2) grouping payment obligations by at least identity of said plurality of payee entities.
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47. An improved method of making payments according to claim 40, further including:
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(i) automatically generating a summary of payment information for said plurality of payor entities; and
(j) periodically communicating said summary of payment information from said plurality of payor entities to said service provider.
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48. An improved method of making payments according to claim 47, further including:
(k) utilizing said summary of payment to automatically perform a data integrity verification operation.
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49. An improved method of making payments, according to claim 40, wherein said trusted intermediary financial institution is utilized to verify a request for payment by comparing information from said negotiable instrument with positive pay reports provided by said service provider, and then verifying payments with payment information and payment authorization data communicated by said plurality of payors.
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50. An improved means for making payments from a plurality of payor entities to a plurality of payee entities through a service provider, comprising:
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(a) means for obtaining authorization from said plurality of payor entities which allows said service provider to make payments on behalf of said plurality of payor entities to said plurality of payee entities;
(b) means for periodically communicating payment information and payment authorization from said plurality of payor entities to at least one trusted intermediary financial institution, (c) means for automatically transferring funds in amounts only consistent with said payment information to said service provider;
(d) said payment information including at least;
(1) a payment record identifier uniquely associated with each payment obligation; and
(2) an identification of payment amounts for each of said plurality of payment obligations; and
(3) an authorization code uniquely associated with each payment record identifier;
(e) means for periodically communicating payment instructions from said plurality of payor entities to said service provider;
(f) said payment instructions including at least;
(1) an identification of each of said plurality of payee entities;
(2) an identification of payment amounts for each of said plurality of payee entities; and
(3) a payment record identifier uniquely associated with each payment obligation;
(g) means for utilizing said service provider to (1) consolidate payment instructions from said plurality of payor entities, (2) direct a negotiable instrument to each of said plurality of payee entities, (3) generate payment verification information for said negotiable instruments, and (4) communicate said payment verification information to said trusted intermediary financial institution; and
(h) means for receiving a negotiable instrument from any of said plurality of payee entities, and utilizing said trusted intermediary financial institution to (1) verify said request for payment, and (2) automatically transfer funds between said plurality of payor entities and said service provider in amounts necessary to allow payment;
(i) means for obtaining authorization from said plurality of payor entities, which allows said service provider to make payments on behalf of said payor entities to said plurality of payee entities, substantially concurrently with said step of periodically communicating payment instructions from said plurality of payor entities to said service provider. - View Dependent Claims (51, 52, 53, 54, 55, 56)
(1) a payment record identifier uniquely associated with each record payment;
(2) an identification of payment amounts for each of said plurality of payee entities; and
(3) an authorization code uniquely associated with each payment record identifier.
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53. An improved means for making payments, according to claim 50:
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wherein payment obligations arise from relationships monitored at least by said plurality of payor entities;
said improved means for making payments further including;
(j) means for searching at least one data base for at least one particular relationship for a preselected time interval; and
(k) grouping payment obligations by at least identity of said plurality of payee entities.
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54. An improved means for making payments according to claim 51, further including:
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(i) means for automatically generating a summary of payment information for each of said plurality of payor entities; and
(j) means for periodically communicating said summary of payment information from said plurality of payor entities to said service provider.
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55. An improved means for making payments according to claim 54, further including:
(l) means for utilizing said summary of payment to perform automatically a data integrity verification operation.
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56. An improved method of making payments, according claim 50, wherein said trusted intermediary financial institution is utilized to verify a request for payment by comparing information from said negotiable instrument with payment authorization data communicated by said service provider.
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57. An improved means for making payments from a plurality of payor entities to a plurality of payee entities through a service provider, comprising:
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(a) means for obtaining authorization from said plurality of payor entities which allows said service provider to make payments on behalf of said plurality of payor entities to said plurality of payee entities;
(b) means for periodically communicating payment information and payment authorization from said plurality of payor entities to at least one trusted intermediary financial institution, (c) data processing implemented means for automatically transferring funds in amounts only consistent with said payment information to said service provider;
(d) said payment information and payment authorization including at least;
(1) a payment record identifier uniquely associated with each payment obligation;
(2) an identification of payment amounts for each of said plurality of payment obligations; and
(3) an authorization code uniquely associated with each payment record identifier;
(e) means for periodically communicating payment instructions from said plurality of payor entities to said service provider;
(f) said payment instructions including at least;
(1) an identification of each of said plurality of payee entities;
(2) an identification of payment amounts for each of said plurality of payee entities; and
(3) a payment record identifier uniquely associated with each payment obligation;
(g) data processing implemented means for utilizing said service provider to (1) consolidate payment instructions from said plurality of payor entities, (2) direct a negotiable instrument to each of said plurality of payee entities, (3) generate payment verification information for said negotiable instruments, and (4) communicate said payment verification information to said trusted intermediary financial institution; and
(h) data processing implemented means for receiving a negotiable instrument from any of said plurality of payee entities, and utilizing said trusted intermediary financial institution to (1) verify said request for payment, and (2) support the automatic transfer of funds between said plurality of payor entities and said service provider in amounts necessary to allow payment. - View Dependent Claims (58, 59, 60, 61, 62, 63, 64, 65)
means for obtaining authorization from said plurality of payor entities, which allows said service provider to make payments on behalf of said payor entities to said plurality of payee entities, substantially concurrently with said step of periodically communicating payment instructions from said plurality of payor entities to said service provider.
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59. An improved means for making payments according to claim 57, wherein each of said payment record identifier comprises a payment record identifier established by a particular one of said plurality of payor entities to represent a particular payment transaction.
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60. An improved means for making payments according to claim 57, wherein said payment information is arranged in a data block with a plurality of predefined data fields provided to define at least:
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(1) a payment record identifier uniquely associated with each payment obligation;
(2) an identification of payment amounts for each of said payment obligations; and
(3) an authorization code uniquely associated with each payment record identifier.
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61. An improved means for making payments, according to claim 57:
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wherein payment obligations arise from relationships monitored at least by said plurality of payor entities;
said improved means for making payments further including;
(i) data processing implemented means for searching at least one data base for at least one particular payment for a preselected time interval; and
(j) grouping payment obligations by at least identity of said plurality of payee entities.
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62. An improved means for making payments according to claim 57, further including:
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(i) data processing implemented means for automatically generating a summary of payment information for each of said plurality of payor entities; and
(j) data processing implemented means for periodically communicating said summary of payment information from said plurality of payor entities to said service provider.
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63. An improved means for making payments according to claim 62, further including:
(k) data processing implemented means for utilizing said summary of payment information to perform automatically a data integrity verification operation.
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64. An improved method of making payments, according to claim 57, wherein said trusted intermediary financial institution utilizes a data processing system to compare payment verification information with said negotiable instrument, and then verify a request for payment by comparing information from said negotiable instrument with payment information and payment authorization data communicated by said plurality of payor entities.
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65. An improved means for making payments according to claim 57, further including:
data processing implemented means for correlating said negotiable instruments generated by said service provider and said payment information and payment authorization which was communicated by said plurality of payors to said at least one trusted intermediary financial institution.
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66. An improved method in a distributed data processing system of making payments from a plurality of payor entities to a plurality of payee entities through a service provider, comprising the method steps of:
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(a) obtaining authorization from said plurality of payor entities which allows said service provider to make payments on behalf of said plurality of payor entities to said plurality of payee entities;
(b) arranging for at least one trusted intermediary financial institution to periodically receive through said distributed data processing system (1) payment identification information (2) payment information and (3) payment authorization from said plurality of payor entities, and automatically transfer funds through said distributed data processing system in amounts only consistent with said payment information to said service provider;
(c) said payment information including at least;
(1) a payment record identifier uniquely associated with payment obligation;
(2) an identification of payment amounts for each of said payment obligations; and
(3) an authorization code uniquely associated with each payment record identifier;
(d) periodically communicating through said distributed data processing system payment instructions from said plurality of payor entities to said service provider;
(e) said payment instructions including at least;
(1) an identification of each of said plurality of payee entities;
(2) an identification of payment amounts for each payment obligation; and
(3) a payment record identifier uniquely associated with each payment amount;
(f) utilizing said service provider to (1) consolidate payment instructions from said plurality of payor entities, (2) direct a negotiable instrument to each of said plurality of payee entities, (3) generate payment verification information for said negotiable instruments, and (4) communicate said payment verification information to said trusted intermediary financial institution through said distributed data processing system; and
(g) upon receipt of a negotiable instrument from any of said plurality of payee entities, utilizing said trusted intermediary financial institution to (1) verify said request for payment, and (2) automatically transfer funds through said distributed data processing system between said plurality of payor entities and said service provider, necessary to allow payment. - View Dependent Claims (67, 68, 69, 70)
(1) a payment record identifier uniquely associated with each payment obligation;
(2) an identification of payment amounts for each of said payment obligations; and
(3) an authorization code uniquely associated with each payment record identifier.
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68. An improved method of making payments, according to claim 66:
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wherein payment obligations arise from relationships monitored at least by said plurality of payor entities;
said improved method of making payments further including;
for each of said plurality of payor entities;
(1) utilizing said distributed data processing system for searching at least one data base for at least one particular payment obligation for a preselected time interval; and
(2) utilizing said distributed data processing system for grouping payment obligations by at least identity of said plurality of payee entities.
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69. An improved method of making payments according to claim 66, further including:
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(h) utilizing said distributed data processing system for automatically generating a summary of payment information for each of said plurality of payor entities; and
(i) utilizing said distributed data processing system for periodically communicating said summary of payment information from said plurality of payor entities to said service provider.
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70. An improved method of making payments according to claim 69, further including:
(j) utilizing said distributed data processing system for utilizing said summary of payment to automatically perform a data integrity verification operation.
Specification