Image based positive pay checking system

Details Image based positive pay checking system Image based positive pay checking system

2011-04-12

2011-04-12

Apple, Kirsten S (Department: 3694)

Data processing: financial, business practice, management, or co

Automated electrical financial or business practice or...

Finance

C705S035000, C705S038000, C705S039000, C705S040000, C705S041000, C705S042000, C705S043000, C705S044000

Reexamination Certificate

active

07925588

ABSTRACT:
A method of processing a check issued by a payor includes creating a check image at a payor location, obtaining positive pay data from the image at the payor location using OCR and transmitting the positive pay data to a payor bank of the payor. Alternatively, the positive pay data may be generated by the payor bank from the check image received from the payor. The positive pay data includes at least a name of a payee of the check and a payment dollar amount of the check, but may also include one or more of a date of the check, a serial number of the check, and an account number of the account on which the check is drawn. The positive pay data is stored by the payor bank and used to detect potential fraud when the check is later presented to the bank for payment.

REFERENCES:
patent: 6697512 (2004-02-01), Simonoff
patent: 2006/0282383 (2006-12-01), Doran
patent: 2007/0214086 (2007-09-01), Homoki
Pisani, Joseph “Coming Soon: take photo of checks, deposit it in bank”, Thursday, Mar. 18, 2010, CNBC News Associate.

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