Electronic payment interchange concentrator

Details Electronic payment interchange concentrator Electronic payment interchange concentrator

1995-03-07

1998-02-10

Trammell, James P.

395239, G06F 1760

Patent

active

057178682

ABSTRACT:
An apparatus, system and process for effecting one or more of the reception, transmission, translation and storage of data files containing information relating to financial instruments among and between multiple institutions wherein a data file in a first file format is received from an originating institution, the file is translated into a second data file format selected by an institution that is to receive the information, the information is stored in memory which is uniquely accessible to the receiving institution and transmitted to the receiving institution. Information derived from the financial instrument information contained in the second data file format may be transmitted to a settlement mechanism. The transmission to the receiving institution and to a settlement mechanism may occur on demand, based on instructions by the originating institution and within a prearranged time period.

REFERENCES:
patent: 4742457 (1988-05-01), Leon et al.
patent: 4972463 (1990-11-01), Danielson et al.
patent: 5050078 (1991-09-01), Sansone
patent: 5237500 (1993-08-01), Perg et al..
patent: 5265007 (1993-11-01), Barnhard, Jr. et al.
patent: 5526409 (1996-06-01), Conrow et al.

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