Method and apparatus for online check processing
First Claim
1. A computer-implemented method for processing an online payment from a user, the online payment being for an item that is purchasable through a website of a merchant, the method comprising:
- receiving information from the user corresponding to the online payment for the item, the information from the user being received through a graphical user interface associated with the website of the merchant, the information from the user including a name of the user, bank data associated with the user, and an authorization to pay for the item using an electronic check;
creating an electronic image of an authorized demand draft based on the authorization received from the user, the electronic image of the authorized demand draft being created directly from the information provided by the user through the graphical user interface associated with the website of the merchant, the electronic image of the authorized demand draft including the name of the user, the bank data associated with the user;
transmitting the electronic image of the authorized demand draft to a financial institution corresponding to the bank data associated with the user; and
receiving funds from the financial institution based on the electronic image of the authorized demand draft to provide payment for the items,wherein creating an electronic image of an authorized demand draft, transmitting the electronic image of the authorized demand draft to the financial institution, and receiving funds from the financial institution based on the electronic image of the authorized demand draft are rerformed in substantially real-time.
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Abstract
Methods and apparatus for processing an online payment for an item. In one implementation, the method includes receiving information from a user corresponding to online payment for an item. The information from the user is received through a graphical user interface, and includes an authorization to pay for the item using an electronic check. The method further includes creating an electronic image of an authorized demand draft based on the authorization received from the user. The electronic image of the authorized demand draft is created directly from the information provided by the user through the graphical user interface.
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Citations
29 Claims
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1. A computer-implemented method for processing an online payment from a user, the online payment being for an item that is purchasable through a website of a merchant, the method comprising:
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receiving information from the user corresponding to the online payment for the item, the information from the user being received through a graphical user interface associated with the website of the merchant, the information from the user including a name of the user, bank data associated with the user, and an authorization to pay for the item using an electronic check; creating an electronic image of an authorized demand draft based on the authorization received from the user, the electronic image of the authorized demand draft being created directly from the information provided by the user through the graphical user interface associated with the website of the merchant, the electronic image of the authorized demand draft including the name of the user, the bank data associated with the user; transmitting the electronic image of the authorized demand draft to a financial institution corresponding to the bank data associated with the user; and receiving funds from the financial institution based on the electronic image of the authorized demand draft to provide payment for the items, wherein creating an electronic image of an authorized demand draft, transmitting the electronic image of the authorized demand draft to the financial institution, and receiving funds from the financial institution based on the electronic image of the authorized demand draft are rerformed in substantially real-time. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9)
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10. A computer-implemented method for processing an online payment for an item, the method comprising:
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receiving information from a user corresponding to the online payment for the item, the information from the user being received through a graphical user interface, the information from the user including an authorization to pay for the item using an electronic check; creating an electronic image of an authorized demand draft based on the authorization received from the user, the electronic image of the authorized demand draft being created directly from the information provided by the user through the graphical user interfaces, wherein the electronic image of the authorized demand draft allows a financial institution to transmit funds in substantially real-time, upon receipt of the electronic image of the authorized demand draft. - View Dependent Claims (11, 12, 13, 14, 15, 16, 17, 18)
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19. A check processing system for processing an online payment from a user, the online payment being for an item that is purchasable through a website of a merchant, the system comprising:
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a first engine to receive information from the user corresponding to the online payment for the item, the information from the user being received through a graphical user interface associated with the website of the merchant, the information from the user including a name of the user, bank data associated with the user, and an authorization to pay for the item using an electronic check; a second engine to create an electronic image of an authorized demand draft based on the authorization received from the user, the electronic image of the authorized demand draft being created directly from the information provided by the user through the graphical user interface associated with the website of the merchant, the electronic image of the authorized demand draft including the name of the user, the bank data associated with the user; a third engine to transmit the electronic image of the authorized demand draft to a financial institution corresponding to the bank data associated with the user; and a fourth engine to receive funds from the financial institution based on the electronic image of the authorized demand draft to provide payment for the item, wherein the fourth engine is operable to receive the funds from the financial institution in substantially real-time relative to when the electronic image of the authorized demand draft is created and transmitted to the financial institution. - View Dependent Claims (20, 21, 22, 23, 24, 25, 26, 27)
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28. A computer-implemented method for processing an online payment for an item, the method comprising:
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receiving information from a user corresponding to the online payment for the item, the information from the user being received through a graphical user interface, the information from the user including an authorization to pay for the item using an electronic check; creating an electronic (X9.37) image file of an authorized demand draft based on the authorization received from the user, the electronic (X9.37) image file of the authorized demand draft being created directly from the information provided by the user through the graphical user interface; transmitting the electronic (X9.37) image file directly to the Federal Reserve; and receiving funds from the Federal Reserve based on the electronic (X9.37) image file, wherein the funds are received from the Federal Reserve substantially in real-time relative to a time of the transmission of the electronic (X9.37) image file to the Federal Reserve. - View Dependent Claims (29)
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Specification