Alternative payment devices using electronic check processing as a payment mechanism
US7543736B2 · kind B2 · utility
8Cited by
35References
20Claims
0Family size
Assignee
Inventors
Key dates
| Filing date | Feb 4, 2008 |
| Grant date | Jun 9, 2009 |
| Priority date | — |
| Expiry date | Feb 20, 2028 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG07F7/04
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
The present invention includes a merchant system that recognizes virtually any payment device or technology that uses electronic check processing as a payment mechanism. For example, the merchant system associates presentation of the payment device with information used to electronically debit a checking account, such as MICR data, and submits the same to a transaction processor capable of settling electronic debit transactions.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.