United States Patent & Trademark

The Patent No. issued by the United States Patent & Trademark Office is 7,389,913 and was issued on 06/24/2008, entitled: 

“METHOD AND APPARATUS FOR ONLINE CHECK PROCESSING”.

Methods and Abstract apparatus for processing an online payment for an item. In one implementation, the method includes receiving information from a user corresponding to online payment for an item. The information from the user is received through a graphical user interface, and includes an authorization to pay for the item using an electronic check. The method further includes 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 is created directly from the information provided by the user through the graphical user interface.

In general, the patent describes a computer-implemented method for processing an online payment for an item. The item can comprise one of a physical product, a service, digital media, or digital content. The financial institution can be one of a bank, savings and loan (S&L), credit union, or implementations may provide one or more of the following advantages. In one implementation, a fully integrated online check processing system is provided that functions much like credit card authorization and settlement, but is much more universally available to consumers or other users. Unlike transactions involving credit cards or a funds transfer system associated with the ACH network, the electronic images of authorized demand drafts created by the check payment/processing system cannot be easily or readily reversed, and are acceptable at every U.S. bank. Moreover, the check processing system is not subject to NACHA rules and/or other regulatory oversight.

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