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ELECTRONIC LOCKBOX USING DIGITALLY ORIGINATED CHECKS

  • US 20100161466A1
  • Filed: 03/10/2010
  • Published: 06/24/2010
  • Est. Priority Date: 10/10/2006
  • Status: Active Grant
First Claim
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1. An electronic lockbox method, comprising:

  • receiving a digitally originated check from a payor, wherein the digitally originated check comprises metadata containing a payment instruction from the payor to a payee, and wherein the digitally originated check comprises a check created without an original paper check;

    updating an accounting system with the payment instruction; and

    clearing the digitally originated check through an electronic payment system with one of paper and electronic clearing methods associated with check clearing systems.

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