Payment System For Issuing And Depositing Paperless Checks
AssigneeBank of America Corporation
InventorSanjay D. Pillay
Life of this patent
Estimating the term…
Abstract
A method for issuing paperless checks includes receiving a check request from a first computing device associated with a payer. The check request identifies a payee to receive a monetary amount but does not include any account information associated with the payee. In response to the check request, a paperless check is transmitted to the payee. A deposit request is received from a second computing device associated with the payee. The deposit request includes account information associated with the payee and requests deposit of the paperless check. The deposit request is validated and the monetary amount is electronically transferred from a first account associated with the payer to a second account associated with the payee.
Claims30
A method, comprising:
- receiving, by a issuing bank server, a check request from a first computing device associated with a payer, the check request identifying a payee to receive monetary amount, the check request not including any account information associated with the payee;
- transmitting, by the issuing bank server, a paperless check to the payee;
- receiving, by the issuing bank server, a deposit request from a second computing device associated with the payee, the deposit request comprising account information associated with the payee and requesting deposit of the paperless check;
- validating the deposit request received from the payee;
- and
- electronically transferring, by the issuing bank server, the monetary amount from a first account associated with the payer to a second account associated with the payee.
A system for issuing a paperless check, comprising:
- a network interface operable to receive a check request from a first computing device associated with a payer, the check request identifying a payee to receive monetary amount, the check request not including any account information associated with the payee;
- a memory operable to store data relating to the check request in an account associated with the payer;
- a processor communicatively coupled to the network interface and the memory and operable to:
- transmit a paperless check to the payee;
- receive a deposit request from a second computing device associated with the payee, the deposit request comprising account information associated with the payee and requesting deposit of the paperless check;
- validate the deposit request received from the payee;
- and
- electronically transfer the monetary amount from a first account associated with the payer to a second account associated with the payee.
Logic embedded in a non-transitory computer readable storage medium and operable, when executed by a processor, to:
- receive a check request from a first computing device associated with a payer, the check request identifying a payee to receive monetary amount, the check request not including any account information associated with the payee;
- transmit a paperless check to the payee;
- receive a deposit request from a second computing device associated with the payee, the deposit request comprising account information associated with the payee and requesting deposit of the paperless check;
- validate the deposit request received from the payee;
- and
- electronically transfer a monetary amount from a first account associated with the payer to a second account associated with the payee.
Dependencies are inferred from the claim text.