WO2012104872A1

WO2012104872A1 - E-cheque based transaction system and method

Info

Publication number: WO2012104872A1
Application number: PCT/IN2012/000074
Authority: WO
Inventors: John COPPING; Andrew Milner; Ajith Kumar Padmalayam Narayana Kurup
Original assignee: Logica Private Limited
Priority date: 2011-01-31
Filing date: 2012-01-31
Publication date: 2012-08-09

Abstract

The present invention provides a method and system for generating and processing an electronic cheque. In one embodiment, a server generates an e-cheque containing a matrix barcode by encrypting transaction information in the matrix barcode and stores the transaction information along with other information associated with the e-cheque in a central database. Also, the server transmits the e-cheque containing the matrix barcode to a computing device associated with a payer. When a payee presents the e-cheque to associated bank, the server reads information in the matrix barcode in the e-cheque using a bank's computing device and validates the e-cheque by matching the information in the matrix barcode with the transaction information. Furthermore, the server authorizes or rejects a transaction associated with the e-cheque based on whether the e-cheque is valid or not. Moreover, the server processes the transaction associated with the e-cheque if the e-cheque is valid.

Description

RECORD COPY

E-CHEQUE BASED TRANSACTION SYSTEM AND METHOD

RELATED APPLICATION Benefit is claimed to India Provisional Application No. 290/CHE/2010, titled "Two-Dimensional Bar Code Payment Processing System and Method" by COPPING, John, et Al., filed on 31^st January 2011 , which is herein incorporated in its entirety by reference for all purposes. FIELD OF THE INVENTION

The present invention relates to the field of banking and payments, and more particularly relates to e-cheque based transaction system and method. BACKGROUND OF THE INVENTION

The existing banking payment transaction system revolves around a few methods such as online transfer for instant transfer of funds, making payment through banking instruments namely a cheque, demand draft, etc. In the case of banking instruments where the payment order is a deferred payment order, the preferred transaction mode is through a cheque where the payer's account is not debited until the cheque is presented to the drawing Bank.

Today, most of the account holders carry cheques and cheque books for making transactions. The existing system requires numerous pieces of paper to be passed from bank to customer, in blank, and then from customer to payee and then from payee to their own bank for processing through the inter-bank clearing system for subsequent proofing and payment. These steps are inefficient and resource intensive and value exchange can be better undertaken through more innovative methods.

Moreover, these existing cheque payment methods require the payer and the payee to exchange bank account details in order to facilitate the payment. Many

l consumers do not wish to reveal their bank account details, mostly due to the banks themselves advising them to keep their banking details confidential in order to avoid theft of secret identifier. This has resulted in consumers being reluctant to use the existing alternative bank payment services, as they require all the financial details to be shared.

Therefore, there exists a need for e-cheque based transaction system and method to overcome the above cited limitations. BRIEF DESCRIPTION OF THE ACCOMPANYING DRAWINGS

Figure 1 is a schematic diagram illustrating an exemplary e-cheque transaction environment for generating and processing an electronic cheque (e-cheque), according to one embodiment.

Figure 2 is a schematic diagram illustrating an exemplary e-cheque transaction environment for generating and processing an e-cheque, according to another embodiment. Figure 3 is a schematic diagram illustrating an exemplary e-cheque transaction environment for generating and processing an e-cheque, according to yet another embodiment.

Figure 4 is a schematic diagram illustrating an exemplary e-cheque transaction environment for generating and processing an e-cheque, according to further another embodiment.

Figure 5 is a schematic diagram illustrating an exemplary e-cheque transaction environment for generating and processing an e-cheque, according to yet a further embodiment.

Figure 6A is a screenshot view of an e-cheque generation wizard for generating an e-cheque, according to one embodiment. Figure 6B is a schematic representation of an e-cheque generated using the e- cheque generation wizard, according to one embodiment. Figure 7 is a process flowchart 700 illustrating an exemplar method of generating an e-cheque performed by a server such as those shown in Figures 1-5, according to one embodiment.

Figure 8 is a process flowchart illustrating an exemplary method of processing the e-cheque performed by the server such as those shown in Figures 1-5, according to one embodiment.

Figure 9 is a block diagram illustrating various components of a server such as those shown in Figures 1-5 for implementing embodiments of the present subject matter.

The drawings described herein are for illustration purposes only and are not intended to limit the scope of the present disclosure in any way. DETAILED DESCRIPTION OF THE EMBODIMENTS OF THE INVENTION

The present invention provides a method and system for generating and processing an electronic cheque. In the following detailed description of the embodiments of the invention, reference is made to the accompanying drawings that form a part hereof, and in which are shown by way of illustration specific embodiments in which the invention may be practiced. These embodiments are described in sufficient detail to enable those skilled in the art to practice the invention, and it is to be understood that other embodiments may be utilized and that changes may be made without departing from the scope of the present invention. The following detailed description is, therefore, not to be taken in a limiting sense, and the scope of the present invention is defined only by the appended claims. Figure 1 is a schematic diagram illustrating an exemplary e-cheque transaction environment 100 for generating and processing electronic cheque (e-cheque), according to one embodiment. In Figure 1, the e-cheque transaction environment 100 includes a computing device 104 associated with a payer 102, a remote server 106, a central database 108, a mobile device 114 associated with a payee 116, and a computing device associated with a payee's bank.

The computing device 104 may include a laptop, a tablet, a cell phone, a smart phone, personal digital assistant wirelessly connected to the remote server 106. The remote server 106 refers to a single server computer or a group of server computers associated with a bank(s) and capable of executing banking transactions. The computing device 118 may include a matrix barcode reader wirelessly connected to the remote server 106. Consider that, the payer 102 wishes to pay a certain amount to the payee 116 using an e-cheque. In such case, the payer 102 logs into an online bank portal using the computing device 104 and selects an 'e-cheque' option. Upon selecting the 'e-cheque' option, an e-cheque generation wizard is displayed on the graphical user interface of the computing device 104. Exemplary e-cheque generation wizard 600 is depicted in Figure 6A. For generating an e-cheque, the payer 104 enters transaction information, such as payee name, payee account number, transaction amount, and issue date, in the e-cheque generation wizard 600 of the online banking portal and clicks on a 'generate' option in the e- cheque generation wizard 600.

Thus, the computing device 104 transmits a request to generate an e-cheque along with the transaction information to the server 106. Accordingly, the server 106 encrypts the transaction information and a unique authorization identifier in a matrix barcode and generates the e-cheque 110 containing the matrix barcode based on the transaction information provided by the payer 102. Exemplary e- cheque 110 containing a quick response (QR) code 652 is shown in Figure 6B. As shown in Figure 6B, the e-cheque 110 also includes written matter such as payee name, issue date and transaction amount. The e-cheque creation wizard 600 enables the payer 102 to mark the e-cheque 110 as 'account payable' or 'non-account payable'. Also, the e-cheque generation wizard 600 may enable the payer 104 to select type of information to be displayed on the e-cheque 110. For example, the payer 104 may not wish to display 'payee name'. In such case, the e-cheque 110 will not display the 'payee name'.

The server 106 also stores the transaction information and information associated with the payer 102, such as payer name, e-cheque creation time and date, and payer account number, in the central database 108. Additionally, the server 106 also assigns a cheque number and an unique authorization identifier to the e-cheque 110 and stores the cheque number and authorization identifier in the central database 108. The server 106 may encrypt the cheque number and the unique authorization identifier in the QR code. Upon generating the e-cheque, the server 106 transmits the e-cheque 110 containing the QR code to the computing device 104. The payer 102 can transmit the e-cheque 110 containing the QR code on the mobile device 114 to the payee 116 using the computing device 104. In some embodiment, the payer 102 may transmit the e-cheque 110 on the mobile device 114 of the payee 116 via the e-cheque generation wizard 600. In other embodiments, the payer 102 may transmit the e-cheque 110 on the mobile device 114 of the payee 1 6 via an email or multi-media message service (MMS) message. Upon receiving the e-cheque 110, the payee 116 visits a bank, in which he/she has an account, for realizing amount in the e-cheque 110 and displays the e-cheque 110 received on the mobile device 114. The barcode reader 118 reads the information encrypted in the QR code on the e-cheque 110 which is displayed on the mobile device 114 of the payee 116 and transmits the read information to the server 106 for authorizing the transaction. Accordingly, the server 106 validates the e-cheque 110 issued to the payee 116 by matching the information read from the QR code with the information stored in the central database 108. If the match is found, the server 106 authorizes the transaction associated with the e-cheque 110 and honours the e-cheque to the payee 116. In one embodiment, the bank can honour the e-cheque 110 by paying the amount indicated in the e-cheque 110 through cash. In another embodiment, the bank can honour the e-cheque 110 through electronic fund transfer in which the amount in the e-cheque 110 is directly credited in the account associated with the payee 116. If no match is found, the server 106 rejects the transaction associated with the e-cheque 110. Additionally, the server 106 instantaneously displays the authorization status (success or failure) on the computing device 118. Also, the server 106 may send an authorization status (success or failure) associated with the e-cheque 110 on the computing device 104 associated with the payer 102 and the mobile device 114 associated with the payee 116. Furthermore, the server 106 may update the authorization status in the central database 108.

Figure 2 is a schematic diagram illustrating an exemplary e-cheque transaction environment 200 for generating and processing the e-cheque 110, according to another embodiment. It is appreciated that, the steps of generating the e- cheque 110 and transmitting the e-cheque 110 to the mobile device 114 are same as explained in description of Figure 1, except for reading the information encrypted in the QR code using the barcode reader 118. When the e-cheque 110 is received on the mobile device 114, the mobile device 118 reads the information encrypted in the QR code on the e-cheque 110 and transmits the read information to the server 106 for authorizing the transaction. This eliminates the need for the payee 116 to visit the bank and display the e-cheque 110 in front of the barcode reader 118 for authorizing the transaction.

The server 106 validates the e-cheque 110 issued to the payee 116 by matching the information encrypted in the QR code with the transaction information stored in the central database 108. If the match is found, the server 106 authorizes the transaction associated with the e-cheque 110 and honours the e-cheque 110 to the payee 116. If no match is found, the server 106 rejects the transaction associated with the e-cheque 110. Figure 3 is a schematic diagram illustrating an exemplary e-cheque transaction environment 300 for generating and processing the e-cheque 110, according to yet another embodiment. It is appreciated that, the steps of generating the e- cheque 110 is same as explained in description of Figure 1, except for transmitting the e-cheque 110 and reading the information encrypted in the e- cheque HO.

When the e-cheque 110 is received from the server 106, the computing device 104 prints the e-cheque 110 using a printer 302 connected to it. The payer 102 then transfers the printed e-cheque 110 to the payee 116 through mutual transfer or postal/courier services.

The payee 116 visits a bank, in which he/she has an account, for realizing amount in the printed e-cheque 110 and displays the printed e-cheque 110 to a bank personal. The bank personal displays the printed e-cheque 110 in front of the barcode reader 118. As a result, the barcode reader 118 reads the information encrypted in the QR code on the printed e-cheque 110 and transmits the read information to the server 106 for authorizing the transaction. The server 106 validates the printed e-cheque 110 issued to the payee 116 by matching the information encrypted in the QR code with the transaction information stored in the central database 108. If the match is found, the server 106 authorizes the transaction associated with the printed e-cheque 110 and honours the printed e-cheque 110 to the payee 116. If no match is found, the server 106 rejects the transaction associated with the printed e-cheque 110.

Figure 4 is a schematic diagram illustrating an exemplary e-cheque transaction environment 400 for generating and processing the e-cheque 110, according to further another embodiment. It is appreciated that, the steps of generating the e- cheque 110 and transferring the printed e-cheque 110 to the payee are same as explained in description of Figure 3, except for reading the information encrypted in the printed e-cheque 110. The payee 116 visits an automated teller machine (ATM) having a barcode reader 118 and displays the printed e-cheque 110 in front of the barcode reader in the ATM 118. As a result, the barcode reader reads the information encrypted in the QR code on the printed e-cheque 110 and transmits the read information to the server 106 for authorizing the transaction.

The server 106 validates the printed e-cheque 110 issued to the payee 116 by matching the information encrypted in the QR code with the transaction information stored in the central database 108. If the match is found, the server 106 authorizes the transaction associated with the printed e-cheque 110 and honours the printed e-cheque 110 to the payee 116 and provides a notification signal to the ATM 118 authorizing the transaction. Accordingly, the ATM 118 honours the printed e-cheque 110 by dispensing money written in the printed e- cheque 110. If no match is found, the server 106 rejects the transaction associated with the printed e-cheque 110 and provides a notification signal to the ATM 118 indicating that the validation of the printed e-cheque 110 failed. Accordingly, the ATM 118 displays an error mess age indicating that the e- cheque is invalid. One can envision that, the payee can display the mobile device 114 containing the e-cheque 110 in front of the barcode reader in the ATM 118 so that the barcode reader in the ATM 118 reads and transmits the information encrypted in the QR code to the server 106. Figure 5 is a schematic diagram illustrating an exemplary e-cheque transaction environment 500 for generating and processing the e-cheque 110, according to yet a further embodiment. It is appreciated that, the e-cheque transaction environment 500 is an exemplary embodiment of the e-cheque transaction environment 100 of Figure 1. In Figure 5, the e-cheque transaction environment 500 includes servers 106 and 502 connected to the central database 108. The server 106 is associated with payer's bank and the server 502 is associated with payee's bank which is different from the payer's bank. Consider that, the payer 102 wishes to pay a certain amount to the payee 116 using an e-cheque. In such case, the payer 102 logs into an online bank portal using the computing device 104 and selects a 'generate e-cheque' option. The computing device 104 transmits a request to generate an e-cheque along with transaction information to the server 106. Accordingly, the server 106 encrypts the transaction information and a unique authorization identifier in a QR code and generates an e-cheque 110 containing the matrix barcode based on the transaction information provided by the payer 102. The server 106 also stores the transaction information and information associated with the payer 102, such as payer name, e-cheque creation time and date, and payer account number, in the central database 108. Additionally, the server 106 transmits the e-cheque 110 containing the QR code to the computing device 104.

The payer 102 then transmits the e-cheque 110 containing the QR code on the mobile device 114 to the payee 116 using the computing device 104. Upon receiving the e-cheque 110, the payee 116 visits his/her bank f or realizing amount in the e-cheque 110 and displays the e-cheque 110 received on the mobile device 114. The barcode reader 118 reads the information encrypted in the QR code on the e-cheque 110 which is displayed on the mobile device 114 of the payee 116 and transmits the read information to the server 502 f or authorizing the transaction. Accordingly, the server 502 communicates the information read from the e- cheque 110 to the server 106 such that the server 106 validates the e-cheque 110 issued to the payee 116 by matching the information read from the QR code with the transaction information stored in the central database 108. If the match is found, the server 106 authorizes the transaction associated with the e-cheque 110 and sends an authorization success message to the server 502 for honouring the e-cheque to the payee 116. If no match is found, the server 106 rejects the transaction associated with the e-cheque 110 and sends an authorization failure message to the server 502. Accordingly, the server 502 sends the authorization success message or authorization failure message to the mobile device 114 and the computing device 118.

Figure 7 is a process flowchart 700 illustrating an exemplary method of generating an e-cheque performed by the server 106 such as those shown in Figures 1-5, according to one embodiment. At step 702, a request to generate an e-cheque (e.g., an e-cheque 110) and transaction information is received from a computing device associated with the payee 116. At step 704, an e- cheque containing a matrix barcode is generated by encrypting the transaction information in the matrix barcode. At step 706, the transaction information along with other information associated with the e-cheque 110 is stored in the central database 110.

At step 708, the e-cheque 110 containing the matrix barcode is transmitted to the computing device 104. At step 710, the e-cheque 110 containing the matrix barcode is displayed on the graphical interface of the computing device 104. In one embodiment, the payer 102 can electronically transmits the e-cheque 110 to the mobile device 114 associated with the payee 116. In another embodiment, the payer 102 can print the e-cheque 110 with the matrix barcode and transfer the printed e-cheque 110 to the payee 116.

Figure 8 is a process flowchart 800 illustrating an exemplary method of processing the e-cheque 110 performed by the server 106 such as those shown in Figures 1-5, according to one embodiment. At step 802, the matrix barcode in the e-cheque 110 is scanned using the computing device 118. At step 804, the e-cheque 110 is validated by matching the information in the matrix barcode with the transaction information. At step 806, it is determined whether the information read from the matrix barcode is compared with the transaction information stored in the central database 108. If match is found, then at step 808, a transaction associated with the e-cheque 110 is authorized. Accordingly, a transaction associated with the e-cheque 110 is performed, at step 810. As discussed above, the transaction is performed through electronic fund transfer or cash payment (including dispensing of cash through an automatic teller machine). If no match is found, then at step 812, a transaction associated with the e-cheque 110 is rejected.

Figure 9 is a block diagram illustrating various components of the server 106 such as those shown in Figures 1-5 for implementing embodiments of the present subject matter. In Figure 9, the server 106 includes a processor 902, memory 904, a transceiver 906, communication interfaces 908, and a bus 910.

The processor 902, as used herein, means any type of computational circuit, such as, but not limited to, a microprocessor, a microcontroller, a complex instruction set computing microprocessor, a reduced instruction set computing microprocessor, a very long instruction word microprocessor, an explicitly parallel instruction computing microprocessor, a graphics processor, a digital signal processor, or any other type of processing circuit. The processor 902 may also include embedded controllers, such as generic or programmable logic devices or arrays, application specific integrated circuits, single-chip computers, smart cards, and the like.

The memory 904 may be volatile memory and non-volatile memory. The memory 904 includes an e-cheque generation module 912, an e-cheque validation module 914, an e-cheque authorization module 916, and a transaction module 918, according to the embodiments of the present subject matter. A variety of computer-readable storage media may be stored in and accessed from the memory elements. Memory elements may include any suitable memory device(s) for storing data and machine-readable instructions, such as read only memory, random access memory, erasable programmable read only memory, electrically erasable programmable read only memory, hard drive, removable media drive for handling memory cards, Memory Sticks™, and the like. Embodiments of the present subject matter may be implemented in conjunction with modules such as the e-cheque generation module 912, the e-cheque validation module 914, the e-cheque authorization module 916, and the transaction module 918 for performing tasks or defining abstract data types or low-level hardware contexts. These modules 912 through 918 are stored in the memory 904 in the form of machine-readable instructions which when executed by the processor 902, cause the processor 902 to generate an e-cheque and process the e-cheque issued to a payee, according to the teachings and herein described embodiments of the present subject matter.

For example, the e-cheque generation module 912 generates an e-cheque (e.g., e-cheque 110) containing a matrix barcode by encrypting transaction information in the matrix barcode and stores the transaction information along with other information associated with the e-cheque 110 in the central database 110. Also, the e-cheque generation module 912 transmits the e-cheque 110 containing the matrix barcode to the computing device 104. The e-cheque validation module 914 scans the matrix barcode in the e-cheque 110 using the computing device 118 and validates the e-cheque by matching the information in the matrix barcode with the transaction information.

The e-cheque authorization module 916 authorizes a transaction associated with the e-cheque 110 if the information in the matrix barcode matches with the transaction information. The e-cheque authorization module 916 rejects the e- cheque 110 if the information in the matrix barcode does not match with the transaction information. The transaction module 918 processes the transaction associated with the e-cheque 110 if the e-cheque 110 is valid.

In one embodiment, the machine readable instructions may be included on a storage medium as a computer program and loaded from the storage medium to a hard drive in the non-volatile memory. The components such as the transceiver 908 and the communication interfaces 912 are well known to the person skilled in the art and hence the explanation is thereof omitted. The present embodiments have been described with reference to specific example embodiments, it will be evident that various modifications and changes may be made to these embodiments without departing from the broader spirit and scope of the various embodiments. Furthermore, the various devices, modules, and the like described herein may be enabled and operated using hardware circuitry, for example, complementary metal oxide semiconductor based logic circuitry, firmware, software and/or any combination of hardware, firmware, and/or software embodied in a machine readable medium. For example, the various electrical structure and methods may be embodied using transistors, logic gates, and electrical circuits, such as application specific integrated circuit.

Claims

We Claim:

1. A computer-implemented method of generating and processing an electronic cheque, comprising:

generating an electronic cheque containing a matrix barcode via a first computing device, wherein the matrix barcode includes transaction information; storing the transaction information associated with the electronic cheque in a central database;

scanning the matrix barcode in the electronic cheque using a second computing device;

validating the electronic cheque by a remote server connected to the second computing device by matching the information in the matrix barcode with the transaction information stored in the central database; and

authorizing a transaction associated with the electronic cheque if the information in the matrix barcode matches the transaction information stored in the central database.

2. The method of claim 1 , further comprising:

performing a transaction associated with the electronic cheque based on the transaction information stored in the central database.

3. The method of claim 1 , wherein the transaction information includes at least one of payee information, payer information, and transaction amount.

4. The method of claim 1 , wherein the transaction information includes transaction amount and a unique authorization identifier.

5. The method of claim 1 , further comprising:

rejecting a transaction associated with the electronic cheque if the information in the matrix barcode does not match with the transaction information stored in the central database.

6. The method of claim 1 , further comprising: transmitting the electronic cheque containing the matrix barcode to a mobile device associated with a payee via a communication channel.

7. The method of claim 1 , further comprising:

printing the electronic cheque containing the matrix barcode using a printer.

8. The method of claim 1 , wherein generating the electronic cheque containing the matrix barcode via the first computing device comprises:

receiving a request to generate an electronic cheque from the first computing device by the remote server, wherein the request includes transaction information;

generating, via the remote server, the electronic cheque containing a matrix barcode through encrypting the transaction information in the matrix barcode; and

transmitting the electronic cheque containing the matrix barcode to the first computing device.

9. The method of claim 5, wherein transmitting the electronic cheque containing the matrix barcode to the first computing device comprises:

displaying the electronic cheque containing the matrix barcode on the graphical interface of the first computing device.

10. The method of claim 1 , wherein the matrix barcode is a quick response (QR) code.

11. An apparatus comprising:

a processor; and

memory coupled to the processor, wherein the memory comprises:

an e-cheque generation module configured for generating an electronic cheque with a matrix barcode containing transaction information, and storing the transaction information associated with the electronic cheque in a central database; an e-cheque validation module configured for reading information encrypted in the matrix barcode via the second computing device, and validating the electronic cheque by matching the information in the matrix barcode with the transaction information stored in the central database; and an e-cheque authorization module configured for authorizing a transaction associated with the electronic cheque if the information in the matrix barcode matches the transaction information stored in the central database.

12. The apparatus of claim 11 , wherein the memory further comprises:

a transaction module configured for performing a transaction associated with the electronic cheque based on the transaction information stored in the central database.

13. The apparatus of claim 11 , wherein the transaction information includes at least one of payee information, payer information, and transaction amount.

14. The apparatus of claim 11 , wherein the transaction information includes transaction amount and a unique authorization identifier.

15. The apparatus of claim 11 , wherein the e-cheque authorization module is further configured for rejecting a transaction associated with the electronic cheque if the information in the matrix barcode does not match with the transaction information stored in the central database.

16. The apparatus of claim 11, wherein the e-cheque generation module is configured for transmitting the electronic cheque containing the matrix barcode to a computing device associated with a payer.

17. The apparatus of claim 11 , wherein the matrix barcode is a quick response (QR) code.

18. A system comprising: a first computing device associated with a payer;

a second computing device associated with a payee's bank;

a server communicatively connected to the first computing device and the second computing device; and

a central database communicatively connected to the server, wherein the server is configured for generating an electronic cheque containing a matrix barcode, wherein the matrix barcode includes transaction information, and wherein the server is configured for storing the transaction information associated with the electronic cheque in a central database, and wherein the server is configured for scanning the matrix barcode in the electronic cheque using the second computing device, wherein the server is configured for validating the electronic cheque by matching the information in the matrix barcode with the transaction information stored in the central database, and wherein the server is configured for authorizing a transaction associated with the electronic cheque if the information in the matrix barcode matches the transaction information stored in the central database.

19. The system of claim 18, wherein the server is configured for performing a transaction associated with the electronic cheque based on the transaction information stored in the central database.

20. The system of claim 18, wherein the server is configured for rejecting a transaction associated with the electronic cheque if the information in the matrix barcode does not match with the transaction information stored in the central database.

21. The system of claim 18, wherein the transaction information includes at least one of payee information, payer information, and transaction amount.

22. The system of claim 18, wherein the transaction information includes transaction amount and a unique authorization identifier.

23. The system of claim 18, wherein the matrix barcode is a quick response (QR) code.

24. The system of claim 18, wherein the server is configured for transmitting the 5 electronic cheque containing the matrix barcode to the first computing device.

25. The system of claim 24, wherein the first computing device is configured for displaying the electronic cheque containing the matrix barcode on a graphical interface.

o

26. The system of claim 24, wherein the first computing device is configured for transmitting the electronic cheque containing the matrix barcode to a mobile device associated with a payee via a communication channel. 5 27. The system of claim 24, wherein the first computing device is configured for printing the electronic cheque containing the matrix barcode using a printer.