Electronic payment and authentication system with debit and identification data verification and electronic check capabilities

US8060441B2 · kind B2 · utility

Assignee

• EFunds Corporation · US

Inventors

• Whitney Hilton Stewart · Cave Creek, US
• Matthew Lacey Petersen · Scottsdale, US
• Brian John Gallmeier · Lino Lakes, US
• Teresa Marie Crews · Shoreview, US
• Mark Andrew Nipe · Lino Lakes, US
• James Michael Haire · Eagan, US
• Robert Lawrence Hill · Mill Creek, US
• Michael R. Bates · Sheboygan, US

Key dates

• Filing date: May 24, 2010
• Grant date: Nov 15, 2011
• Expiry date: May 24, 2030

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/03
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

An electronic payment and authentication system that includes features to verify the authenticity of a payer, validate debit data, and facilitate debit (as opposed to credit) payment transactions. The electronic payment system allows a consumer to purchase items and services via a network while utilizing a debit transaction. The invention provides merchants with the ability to verify the identity of the consumer, determine if the consumer is a good debit transaction risk, and retrieve debit data associated with a particular consumer.