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WO2002019208A3 - Method and system for electronic payment and check guarantee - Google Patents

Method and system for electronic payment and check guarantee Download PDF

Info

Publication number
WO2002019208A3
WO2002019208A3 PCT/US2001/026295 US0126295W WO0219208A3 WO 2002019208 A3 WO2002019208 A3 WO 2002019208A3 US 0126295 W US0126295 W US 0126295W WO 0219208 A3 WO0219208 A3 WO 0219208A3
Authority
WO
WIPO (PCT)
Prior art keywords
check
party
information
merchant
electronic settlement
Prior art date
Application number
PCT/US2001/026295
Other languages
French (fr)
Other versions
WO2002019208A2 (en
Inventor
Rony Natanzon
Original Assignee
Ern Llc
Rony Natanzon
Priority date (The priority date is an assumption and is not a legal conclusion. Google has not performed a legal analysis and makes no representation as to the accuracy of the date listed.)
Filing date
Publication date
Application filed by Ern Llc, Rony Natanzon filed Critical Ern Llc
Priority to AU2001285221A priority Critical patent/AU2001285221A1/en
Publication of WO2002019208A2 publication Critical patent/WO2002019208A2/en
Publication of WO2002019208A3 publication Critical patent/WO2002019208A3/en

Links

Classifications

    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/02—Payment architectures, schemes or protocols involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/02—Payment architectures, schemes or protocols involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
    • G06Q20/023—Payment architectures, schemes or protocols involving a neutral party, e.g. certification authority, notary or trusted third party [TTP] the neutral party being a clearing house
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/04—Payment circuits
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/04—Payment circuits
    • G06Q20/042—Payment circuits characterized in that the payment protocol involves at least one cheque

Landscapes

  • Business, Economics & Management (AREA)
  • Engineering & Computer Science (AREA)
  • Accounting & Taxation (AREA)
  • Strategic Management (AREA)
  • Physics & Mathematics (AREA)
  • General Business, Economics & Management (AREA)
  • General Physics & Mathematics (AREA)
  • Theoretical Computer Science (AREA)
  • Computer Security & Cryptography (AREA)
  • Financial Or Insurance-Related Operations Such As Payment And Settlement (AREA)
  • Management, Administration, Business Operations System, And Electronic Commerce (AREA)

Abstract

One method of the present invention includes presenting a prepared bank check, in relation to a point-of-sale transaction, to the merchant. The merchant, using a point-of-sale terminal (10), scans the prepared bank check to retrieve consumer bank account information and using the terminal may enter transaction information. The information is then transmitted to a third party's central database (20) for authorization or rejection of the check transaction. The third party may thereafter present the information to an originating depository financial institution (25) for electronic settlement. The merchant further retains the paper check and forwards it to the third party to secure the electronic settlement. If the consumer cnacels the electronic settlement in bad faith, the third party may thereafter present the paper check as a negotiable instrument to the originating depository financial institution (25).
PCT/US2001/026295 2000-08-29 2001-08-22 Method and system for electronic payment and check guarantee WO2002019208A2 (en)

Priority Applications (1)

Application Number Priority Date Filing Date Title
AU2001285221A AU2001285221A1 (en) 2000-08-29 2001-08-22 Method and system for electronic payment and check guarantee

Applications Claiming Priority (4)

Application Number Priority Date Filing Date Title
US22884600P 2000-08-29 2000-08-29
US60/228,846 2000-08-29
US23235900P 2000-09-14 2000-09-14
US60/232,359 2000-09-14

Publications (2)

Publication Number Publication Date
WO2002019208A2 WO2002019208A2 (en) 2002-03-07
WO2002019208A3 true WO2002019208A3 (en) 2003-03-13

Family

ID=26922732

Family Applications (1)

Application Number Title Priority Date Filing Date
PCT/US2001/026295 WO2002019208A2 (en) 2000-08-29 2001-08-22 Method and system for electronic payment and check guarantee

Country Status (2)

Country Link
AU (1) AU2001285221A1 (en)
WO (1) WO2002019208A2 (en)

Citations (6)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
US4321672A (en) * 1979-11-26 1982-03-23 Braun Edward L Financial data processing system
GB2238415A (en) * 1989-09-12 1991-05-29 Unisys Corp Financial terminal
US5484988A (en) * 1992-11-13 1996-01-16 Resource Technology Services, Inc. Checkwriting point of sale system
US5703344A (en) * 1995-06-30 1997-12-30 Visa International Service Association Electronic funds confirmation at point of transaction
US5832463A (en) * 1996-03-28 1998-11-03 Electronic Data Systems Corporation Automated system and method for checkless check transaction
EP0984410A1 (en) * 1998-07-07 2000-03-08 Citibank, N.A. System and method for image depositing, image presentment and deposit taking in a commercial environment

Family Cites Families (1)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
US6164528A (en) 1996-12-31 2000-12-26 Chequemark Patent, Inc. Check writing point of sale system

Patent Citations (6)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
US4321672A (en) * 1979-11-26 1982-03-23 Braun Edward L Financial data processing system
GB2238415A (en) * 1989-09-12 1991-05-29 Unisys Corp Financial terminal
US5484988A (en) * 1992-11-13 1996-01-16 Resource Technology Services, Inc. Checkwriting point of sale system
US5703344A (en) * 1995-06-30 1997-12-30 Visa International Service Association Electronic funds confirmation at point of transaction
US5832463A (en) * 1996-03-28 1998-11-03 Electronic Data Systems Corporation Automated system and method for checkless check transaction
EP0984410A1 (en) * 1998-07-07 2000-03-08 Citibank, N.A. System and method for image depositing, image presentment and deposit taking in a commercial environment

Non-Patent Citations (1)

* Cited by examiner, † Cited by third party
Title
FRANCA V ET AL: "A station for capture, processing and storing of documents", ELECTROTECHNICAL CONFERENCE, 1991. PROCEEDINGS., 6TH MEDITERRANEAN LJUBLJANA, SLOVENIA 22-24 MAY 1991, NEW YORK, NY, USA,IEEE, US, 22 May 1991 (1991-05-22), pages 1264 - 1267, XP010040092, ISBN: 0-87942-655-1 *

Also Published As

Publication number Publication date
AU2001285221A1 (en) 2002-03-13
WO2002019208A2 (en) 2002-03-07

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