Systems and methods for identifying payor location based on transaction data

• US 7,783,563 B2
• Filed: 12/09/2003
• Issued: 08/24/2010
• Est. Priority Date: 12/09/2003
• Status: Active Grant

• Current Assignee: First Data Corporation (Fiserv Incorporated)
• Original Assignee: First Data Corporation (Fiserv Incorporated)
• Inventors: Pate, Lance D., Williams, Charles R., Wallin, Mark, Mollett, Cassandra, Tidwell, Lisa C., Swift, Amy L.
• Primary Examiner(s): CHEUNG, MARY DA ZHI WANG
• Application Number:
  US10/730,859
• Publication Number:
  US 20050125337A1
• Time in Patent Office: 2,450 Days
• Field of Search: 705/35, 705 38- 44, 705/64, 705 67- 69, 705 74- 76, 707705-708, 707722-723, 713175-180
• US Class Current: 705/38
• CPC Class Codes: G06Q 20/042 characterized in that the payment protocol involves at least one cheque
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof

Abstract

Systems and methods are described for building, maintaining, and using a repository of information about payors of second-party checks presented at a check-cashing entity for cashing. In various embodiments, the repository comprises stored information useful for determining the location of a payor of a second-party check. In one embodiment, information from the check that identifies an account on which the check is drawn, such as magnetic ink character recognition (MICR) line information from a paycheck, is used to access a repository of employer location information. In one embodiment, the payor location information is used to determine a proximity between the payor location and the check cashing entity location. In one embodiment, when a check is presented for which stored payor location information is not available, identifying information about the payor and/or the payor location is requested and is added to the repository.

Claims

1. A method of compiling a computer-accessible repository of check issuer location information for use in check transaction risk assessment and conducting a check transaction assessment, the method comprising:

a check authorization system identifying two or more check issuers in a desired geographical location;

the check authorization system obtaining, from two or more check issuers, identifiers for checking accounts associated with the two or more check issuers;

the check authorization system compiling on a computer-accessible storage medium a repository of records, wherein a record comprises information to identify a check issuer name, an associated check issuer'"'"'s location, and the associated check issuer'"'"'s checking account identifier; and

in response to receiving a request to authorize a check, calculating a risk score, the risk score at least partially based on the associated check issuer'"'"'s location stored in the repository of records and the check-cashing entity'"'"'s location.

2. The method of claim 1, wherein identifying check issuers in a desired geographical location further comprises identifying check issuers within a desired proximity of a check-cashing entity.

3. The method of claim 1, wherein identifying check issuers in a desired geographical location further comprises identifying check issuers within a desired region defined by at least one of the set consisting of:

zip code, city, county, state, telephone area code, and Metropolitan Statistical Area (MSA).

4. The method of claim 1, wherein identifying check issuers in a desired geographical location comprises identifying check issuers from any geographical location.

5. The method of claim 1, further comprising the acts of:

in response to receiving a request to cash a check for which the repository of records does not hold associated check issuer information, requesting from a check-cashing entity that is processing the request, information about at least one of;

a check issuer name, a check issuer bank account identification, and check issuer location information; and

adding check issuer information received from the check-cashing entity to the repository.

6. The method of claim 5, wherein requesting information from a check-cashing entity comprises displaying a prompt to an operator of a point-of-sale device at the check-cashing entity to input the requested information.

7. A method of compiling a computer-accessible repository of location information about issuers of negotiable instruments and conducting a check transaction assessment, the method comprising:

a check authorization system identifying issuers of negotiable instruments in a desired geographical location;

the check authorization system obtaining, from two or more issuers of negotiable instruments, identifiers associated with the negotiable instruments;

the check authorization system compiling on a computer-accessible storage medium a repository of records, wherein a record comprises information to identify a name associated with an issuer of negotiable instruments, an associated issuer location, and the associated identifiers associated with the negotiable instruments; and

in response to receiving a request to authorize a check, calculating a risk score, the risk score at least partially based on the associated check issuer'"'"'s location stored in the repository of records and the check-cashing entity'"'"'s location.

8. The method of claim 7, wherein identifying issuers of negotiable instruments in a desired geographical location further comprises identifying issuers within a desired proximity of a check-cashing entity.

9. The method of claim 7, wherein identifying issuers of negotiable instruments in a desired geographical location further comprises identifying issuers of negotiable instruments within a desired region defined by at least one of the set consisting of:

zip code, city, county, state, telephone area code, and Metropolitan Statistical Area (MSA).

10. The method of claim 7, wherein identifying issuers of negotiable instruments in a desired geographical location comprises identifying issuers of negotiable instruments from any geographical location.

11. A system for compiling a computer-accessible repository of check issuer location information for use in check transaction risk assessment and conducting check transaction risk assessments, the system comprising:

means for identifying two or more check issuers in a desired geographical location;

means for compiling on a computer-accessible storage medium a repository of records, wherein a record comprises information to identify a check issuer name, an associated check issuer location, and an associated check issuer checking account, and wherein the checking account is an account drawn on by the check issuer for issuing checks; and

means for calculating a risk score in response to receiving a request to authorize a check, wherein the risk score is at least partially based on the associated check issuer'"'"'s location stored in the repository of records and the check-cashing entity'"'"'s location.