System and method for processing checks and check transactions
First Claim
1. A method for processing paper checks, comprising:
- a) receiving at a computer over a computerized network, a first merchant data file containing a first identifier, the first merchant data file describing a first set of transactions including an amount for each transaction and raw MICR information in a first MICR format for the check used in each transaction;
b) receiving at the computer over the computerized network, a second merchant data file containing a second identifier, the second merchant data file describing a second set of check transactions including an amount for each transaction and raw MICR information in a desired MICR format for the check used in each transaction, wherein the desired MICR format is different than the first MICR format;
wherein the raw MICR information in the merchant data files was created by point of sale systems of the merchants, with different point of sale systems creating different formats for raw MICR information;
c) using the first identifier in the first merchant data file to identify a first predefined translation for the first MICR format;
d) for the first merchant data file, applying via the computer the first predefined translation to convert the raw MICR information in the first merchant data file from the first MICR format into MICR data that is formatted in the desired format;
e) receiving at the computer a plurality of digital images created by scanning the paper checks; and
f) for each of the paper checks, associating at the computer said digital image with transactions in the first and second merchant data files using the MICR data in the desired format.
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Accused Products
Abstract
A method of processing paper checks that divides into two independent paths the processing of a data file representing a check and the digital image of the check. The data files and image files are separated both in time and in space, with the data files being used to promptly initiate the transfer of funds to and from appropriate accounts, while the paper checks, at a remote location and typically lagging in time, are scanned to create digital image files and deposited as an image or substitute check if deemed ACH ineligible. The method provides for the comparison of data files to image files, based on MICR information, to find any unmatching or mismatched items for exception processing and a process to manage ACH-ineligible items as an image or substitute check. A process for translating raw MICR data to a desired format, and for identifying the proper translation to be applied, is described.
112 Citations
18 Claims
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1. A method for processing paper checks, comprising:
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a) receiving at a computer over a computerized network, a first merchant data file containing a first identifier, the first merchant data file describing a first set of transactions including an amount for each transaction and raw MICR information in a first MICR format for the check used in each transaction; b) receiving at the computer over the computerized network, a second merchant data file containing a second identifier, the second merchant data file describing a second set of check transactions including an amount for each transaction and raw MICR information in a desired MICR format for the check used in each transaction, wherein the desired MICR format is different than the first MICR format;
wherein the raw MICR information in the merchant data files was created by point of sale systems of the merchants, with different point of sale systems creating different formats for raw MICR information;c) using the first identifier in the first merchant data file to identify a first predefined translation for the first MICR format; d) for the first merchant data file, applying via the computer the first predefined translation to convert the raw MICR information in the first merchant data file from the first MICR format into MICR data that is formatted in the desired format; e) receiving at the computer a plurality of digital images created by scanning the paper checks; and f) for each of the paper checks, associating at the computer said digital image with transactions in the first and second merchant data files using the MICR data in the desired format. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9)
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10. A method for processing paper checks, comprising:
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a) receiving at a computer over a computerized network, a first merchant data file containing a first identifier, the first merchant data file describing a first set of transactions including an amount for each transaction and raw MICR information in a first MICR format for the check used in each transaction; b) receiving at the computer over the computerized network, a second merchant data file containing a second identifier, the second merchant data file describing a second set of check transactions including an amount for each transaction and raw MICR information in a second MICR format for the check used in each transaction;
wherein the raw MICR information in the merchant data files was created by point of sale systems of the merchants, with different point of sale systems creating different formats for raw MICR information;c) using the first identifier in the first merchant data file to identify a first predefined translation for the first MICR format; d) for the first merchant data file, applying via the computer the first predefined translation to convert the raw MICR information in the first merchant data file from the first MICR format into MICR data that is formatted in a desired format; e) using the second identifier in the second merchant data file to identify a second predefined translation for the second MICR format; f) for the second merchant data file, applying via the computer the second predefined translation to convert the raw MICR information in the second merchant data file from the second MICR format into MICR data that is formatted in the desired format; g) receiving at the computer a plurality of digital images created by scanning the paper checks; and h) for each of the paper checks, associating at the computer said digital image with transactions in the first and second merchant data files using the MICR data in the desired format. - View Dependent Claims (11, 12, 13, 14, 15, 16, 17, 18)
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Specification