Check authorization system

A system for verifying and authorizing payment of a draft having a fixed amount comprising:

• a card having unique number for identifying and locating stored credit reference information,
• a data entry device for entering a personal identification number that uniquely identifies a customer presenting said card,
• a computer for correlating said unique number on said card with said personal identification number for accessing said stored credit reference information and approving payment of the draft by assigning a unique bar code for said draft presented by said customer,
• a UPC printer controlled by said computer for printing said UPC code in machine-readable form on said draft presented by said customer,
• a MICR printer controlled by said computer for printing MICR coded information on said draft, and
• a checkout stand having a UPC code reading scanner for reading said UPC code on said draft and feeding said information to said computer for verifying approval of payment of said draft.

A system for processing a check comprising:

• means for establishing and accessing a data base in a remote computer containing background and credit information for all potential customers,
• means for uniquely identifying a customer with the information contained in the data base of said remote computer,
• means for customer requesting and establishing a transaction limit,
• means for assigning a unique machine-readable bar code to said customer and storing said code with said customer information,
• means for determining a credit limit offered to said customer and storing said information,
• means for printing said stored bar code on a customer prefered check in machine-readable form, and
• means for machine-reading said bar code on said check for correlating said bar code with said stored bar code as contained in said remote computer for releasing said credit limit information, and
• means for comparing said credit limit information with the amount of credit requested by said customer for verifying that the requested transaction is within said approved credit limit.

A system for verifying and authorizing payment of a voucher comprising:

• means for uniquely identifying a customer to a computer having stored credit reference information in memory,
• means for accessing said computer and requesting a transaction amount limit,
• means in said computer for correlating the requested transaction amount limit with the credit reference information on file and assigning a unique bar code for each request that is approved,
• means controlled by said computer for printing said bar code on a voucher proffered by the customer if approved, and
• means controlled by said computer for printing MICR coded information on the voucher corresponding to the requested transaction amount limit requested and approved.

A method for verifying and authorizing payment of a voucher comprising the steps of:

• uniquely identifying the customer to a computer having stored credit reference information in memory,
• accessing the computer and requesting a transaction amount limit,
• correlating the requested transaction amount limit with the credit reference information on file and assigning a unique bar code for each request that is approved,
• printing the bar code on the voucher proffered by the customer if the request is approved, and
• printing MICR coded information on the voucher corresponding to the requested transaction amount limit requested and approved.