Enhanced Check 21 financial payment systems and methods
First Claim
Patent Images
1. A digitally originated check system, comprising:
- an electronic payment system that is accessed by users remotely through a network connection;
a data storage device connected to the electronic payment system containing a metadata file defining a digitally originated check, wherein the digitally originated check is created without an original paper check, the metadata file comprises a payment instruction, a globally unique identifier, tracking information, and security information, and wherein the metadata file is stored, accessed, and modified electronically in the data storage device;
wherein the electronic payment system is configured to;
create the metadata file defining the digitally originated check;
distribute the metadata file defining the digitally originated check;
track the metadata file defining the digitally originated check;
clear the metadata file defining the digitally originated check, wherein clearing the metadata file is compliant with electronic check clearing methods;
verify the metadata file defining the digitally originated check prior to deposit or cashing of the digitally originated check;
secure the metadata file defining the digitally originated check; and
receive a request to cancel the digitally originated check and immediately cancel the digitally originated check responsive to the request.
3 Assignments
0 Petitions
Accused Products
Abstract
The present invention provides a digitally originated check (DOC) through an electronic payment system (EPS) which captures payor metadata instructions regarding the intended payment to a payee. The metadata is stored in a database or the like for further processing instead of printing a paper check. The DOC can be cleared either electronically or through a paper substitute check through Check 21 clearing methods. The present invention further provides a true check card operable to provide DOCs at point-of-sale terminals.
-
Citations
8 Claims
-
1. A digitally originated check system, comprising:
-
an electronic payment system that is accessed by users remotely through a network connection; a data storage device connected to the electronic payment system containing a metadata file defining a digitally originated check, wherein the digitally originated check is created without an original paper check, the metadata file comprises a payment instruction, a globally unique identifier, tracking information, and security information, and wherein the metadata file is stored, accessed, and modified electronically in the data storage device; wherein the electronic payment system is configured to; create the metadata file defining the digitally originated check; distribute the metadata file defining the digitally originated check; track the metadata file defining the digitally originated check; clear the metadata file defining the digitally originated check, wherein clearing the metadata file is compliant with electronic check clearing methods; verify the metadata file defining the digitally originated check prior to deposit or cashing of the digitally originated check; secure the metadata file defining the digitally originated check; and receive a request to cancel the digitally originated check and immediately cancel the digitally originated check responsive to the request. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8)
-
Specification