WO2001099072A3 - Secure check processing system and method - Google Patents

Secure check processing system and method Download PDF

Info

Publication number
WO2001099072A3
WO2001099072A3 PCT/US2001/041041 US0141041W WO0199072A3 WO 2001099072 A3 WO2001099072 A3 WO 2001099072A3 US 0141041 W US0141041 W US 0141041W WO 0199072 A3 WO0199072 A3 WO 0199072A3
Authority
WO
WIPO (PCT)
Prior art keywords
credit card
account
check
central processing
information
Prior art date
Application number
PCT/US2001/041041
Other languages
French (fr)
Other versions
WO2001099072B1 (en
WO2001099072A2 (en
Inventor
David M Goldenberg
Original Assignee
David M Goldenberg
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 David M Goldenberg filed Critical David M Goldenberg
Priority to AU2002215494A priority Critical patent/AU2002215494A1/en
Priority to JP2002503839A priority patent/JP2003536182A/en
Priority to EP01984044A priority patent/EP1297507A2/en
Publication of WO2001099072A2 publication Critical patent/WO2001099072A2/en
Publication of WO2001099072A3 publication Critical patent/WO2001099072A3/en
Publication of WO2001099072B1 publication Critical patent/WO2001099072B1/en

Links

Classifications

    • G—PHYSICS
    • G07—CHECKING-DEVICES
    • G07F—COIN-FREED OR LIKE APPARATUS
    • G07F7/00—Mechanisms actuated by objects other than coins to free or to actuate vending, hiring, coin or paper currency dispensing or refunding apparatus
    • G07F7/08—Mechanisms actuated by objects other than coins to free or to actuate vending, hiring, coin or paper currency dispensing or refunding apparatus by coded identity card or credit card or other personal identification means
    • 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
    • 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
    • G06Q20/38—Payment protocols; Details thereof
    • G06Q20/40—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
    • G06Q20/403—Solvency checks
    • G06Q20/4037—Remote solvency checks

Landscapes

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

Abstract

An apparatus and a method for countering fraudulent check cashing and/or credit card transaction schemes includes a central processing center that is connected to a plurality of participating financial institutions and merchant establishments. Each check drawn or credit card transaction against the financial institutions has information stored therein, with that information corresponding to a plurality of digits/characters for the central processing center, a plurality of digits/characters for the financial institution for which the check is to be drawn against, and an account at the financial institution for which the check or credit card charge is to be drawn against. When a check is presented at a financial institution or merchant establishment, account information is sent through a secure communication channel to the central processing system, which determines whether or not the account has sufficient funds. If the check can be drawn against the account, the central processing system provisionally debits the account, so that all future requests to draw against the account will be checked against the current balance of the account, even though the check has not cleared through the financial institution system as yet. When a credit card is presented, the information on the credit card is sent to the central processing center, which determines whether the current credit card balance is sufficiently below the credit card limit to accept the pending credit card transaction. The central processing center is communicatively connected to a plurality of credit car institutions that provide it with current credit card balance information, and is optionally connected to a plurality of credit card accounts and checking accounts of the same party.
PCT/US2001/041041 2000-06-20 2001-06-20 Secure check processing system and method WO2001099072A2 (en)

Priority Applications (3)

Application Number Priority Date Filing Date Title
AU2002215494A AU2002215494A1 (en) 2000-06-20 2001-06-20 Secure check processing system and method
JP2002503839A JP2003536182A (en) 2000-06-20 2001-06-20 Secure check processing system and method
EP01984044A EP1297507A2 (en) 2000-06-20 2001-06-20 Secure check processing system and method

Applications Claiming Priority (2)

Application Number Priority Date Filing Date Title
US59716300A 2000-06-20 2000-06-20
US09/597,163 2000-06-20

Publications (3)

Publication Number Publication Date
WO2001099072A2 WO2001099072A2 (en) 2001-12-27
WO2001099072A3 true WO2001099072A3 (en) 2002-08-29
WO2001099072B1 WO2001099072B1 (en) 2002-10-10

Family

ID=24390362

Family Applications (1)

Application Number Title Priority Date Filing Date
PCT/US2001/041041 WO2001099072A2 (en) 2000-06-20 2001-06-20 Secure check processing system and method

Country Status (4)

Country Link
EP (1) EP1297507A2 (en)
JP (1) JP2003536182A (en)
AU (1) AU2002215494A1 (en)
WO (1) WO2001099072A2 (en)

Families Citing this family (2)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
AUPS087602A0 (en) * 2002-03-04 2002-03-28 Ong, Yong Kin (Michael) Electronic fund transfer system
US7753268B1 (en) 2002-05-10 2010-07-13 Phoenix Check Cashing, Inc. System and method for negotiable instrument cashing transaction assistance procedures

Citations (6)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
US4851650A (en) * 1984-06-15 1989-07-25 Omron Tateisi Electronics Co. Transaction processing apparatus having a plurality of bank account numbers
US5649116A (en) * 1995-03-30 1997-07-15 Servantis Systems, Inc. Integrated decision management system
US5783808A (en) * 1996-01-11 1998-07-21 J. D. Carreker And Associates, Inc. Electronic check presentment system having transaction level reconciliation capability
WO1999005633A1 (en) * 1997-07-25 1999-02-04 Main Street Marketing Automated credit card payment system
WO1999030294A1 (en) * 1997-12-10 1999-06-17 The Chase Manhattan Bank Method and apparatus to process combined credit and debit card transactions
US6036344A (en) * 1998-06-10 2000-03-14 Goldenberg; David Milton Secure check processing system and method

Family Cites Families (2)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
US4109238A (en) 1975-10-06 1978-08-22 1St Natl. Bank Of Atlanta Apparatus for verifying checks presented for acceptance
GB2146815A (en) 1983-09-17 1985-04-24 Ibm Electronic fund transfer systems

Patent Citations (6)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
US4851650A (en) * 1984-06-15 1989-07-25 Omron Tateisi Electronics Co. Transaction processing apparatus having a plurality of bank account numbers
US5649116A (en) * 1995-03-30 1997-07-15 Servantis Systems, Inc. Integrated decision management system
US5783808A (en) * 1996-01-11 1998-07-21 J. D. Carreker And Associates, Inc. Electronic check presentment system having transaction level reconciliation capability
WO1999005633A1 (en) * 1997-07-25 1999-02-04 Main Street Marketing Automated credit card payment system
WO1999030294A1 (en) * 1997-12-10 1999-06-17 The Chase Manhattan Bank Method and apparatus to process combined credit and debit card transactions
US6036344A (en) * 1998-06-10 2000-03-14 Goldenberg; David Milton Secure check processing system and method

Also Published As

Publication number Publication date
EP1297507A2 (en) 2003-04-02
JP2003536182A (en) 2003-12-02
WO2001099072B1 (en) 2002-10-10
WO2001099072A2 (en) 2001-12-27
AU2002215494A1 (en) 2002-01-02

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