Systems and methods for identifying payor location based on transaction data
US7783563B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Dec 9, 2003 |
| Grant date | Aug 24, 2010 |
| Priority date | — |
| Expiry date | Apr 18, 2028 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/03
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
Systems and methods are described for building, maintaining, and using a repository of information about payors of second-party checks presented at a check-cashing entity for cashing. In various embodiments, the repository comprises stored information useful for determining the location of a payor of a second-party check. In one embodiment, information from the check that identifies an account on which the check is drawn, such as magnetic ink character recognition (MICR) line information from a paycheck, is used to access a repository of employer location information. In one embodiment, the payor location information is used to determine a proximity between the payor location and the check cashing entity location. In one embodiment, when a check is presented for which stored payor location information is not available, identifying information about the payor and/or the payor location is requested and is added to the repository.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.