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Virtual check

  • US 9,619,789 B1
  • Filed: 04/06/2015
  • Issued: 04/11/2017
  • Est. Priority Date: 04/22/2009
  • Status: Active Grant
First Claim
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1. A method comprising:

  • receiving, from a mobile device comprising a position sensor and associated with a payor, information for a virtual check created in real-time in the mobile device associated with the payor, the information including an amount of the virtual check and a location indicating where the virtual check was created or sent from;

    associating the amount of the virtual check and the location with information associated with the payor stored at a computing system;

    determining, by the computing system, whether there are sufficient funds to cover the amount of the virtual check; and

    placing, by the computing system, funds in the amount of the virtual check in reserve when the funds are sufficient to cover the amount of the virtual check.

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