Method and apparatus for online check processing

A check processing system for processing an online payment from a user, the online payment being for an item that is purchasable through a website of a merchant, the system comprising:

• a first engine configured to receive information from the user corresponding to the online payment for the item, the information from the user being received through a graphical user interface associated with the website of the merchant, the information from the user including a name of the user, bank data associated with the user, and an authorization to pay for the item using an electronic check;
• a second engine, coupled to the first engine, the second engine configured to create an electronic image of an authorized demand draft based on the authorization received from the user, the electronic image of the authorized demand draft including the name of the user, the bank data associated with the user, wherein the second engine further comprises:
• a print engine configured to generate a printed version of the electronic image of the authorized demand draft to the financial institution, and
• a scan engine to create an electronic image of the printed version of the authorized demand draft to the financial institution;
• a third engine, coupled to the second engine, the third engine configured to transmit the electronic image of the authorized demand draft to a financial institution corresponding to the bank data associated with the user;
• and
• a fourth engine, coupled to the third engine, the fourth engine configured to receive funds from the financial institution based on the electronic image of the authorized demand draft to provide payment for the item,
• wherein the fourth engine is operable to receive the funds from the financial institution in substantially real-time relative to when the electronic image of the authorized demand draft is created and transmitted to the financial institution.

A computer-implemented method for processing an online payment from a user, the online payment being for an item that is purchasable through a website of a merchant, the method comprising:

• receiving information from the user corresponding to the online payment for the item, the information from the user being received through a graphical user interface associated with the website of the merchant, the information from the user including a name of the user, bank data associated with the user, and an authorization to pay for the item using an electronic check;
• creating an electronic image of an authorized demand draft based on the authorization received from the user, the electronic image of the authorized demand draft including the name of the user, the bank data associated with the user;
• generating a printed version of the electronic image of the authorized demand draft to a financial institution;
• creating an electronic image of the printed version of the authorized demand draft to the financial institution;
• transmitting the electronic image of the printed version of the authorized demand draft to a check processing system corresponding to the bank data associated with the user;
• and
• wherein creating the electronic image of the authorized demand draft, and transmitting the electronic image of the printed version of the authorized demand draft to the financial institution, are performed in substantially real-time.