초록 ▼

A method and system for providing a fully automated electronic bill processing capability that is integrated with banking institutions and their customers is herein disclosed. The electronic bill payment system includes a community of payors, payees, payor banks, and payee banks that are associated

A method and system for providing a fully automated electronic bill processing capability that is integrated with banking institutions and their customers is herein disclosed. The electronic bill payment system includes a community of payors, payees, payor banks, and payee banks that are associated with computing systems-that are interconnected by a computer network. A payor bank receives electronic bills specifying payment requests from one or more payors having an account at the payor bank. The payor bank places a hold on the funds in the payor's account and then generates an electronic check that is transmitted to the payee. The payee receives an electronic check envelope that contains a number of electronic checks that are encrypted and digitally signed by the payor bank. The payee generates an electronic deposit including one or more endorsed electronic checks and a deposit slip. The electronic deposit is encrypted and digitally signed by the payee. The electronic deposit is transmitted to a payee bank that the payee is associated with. The payee bank authenticates the endorsed check and credits the payee's account accordingly.

대표청구항 ▼

[ What is claimed:] [1.] An electronic financial transaction server, associated with a financial institution, comprising:a memory for storing a plurality of client account data, each of a first subset of said client account data representing a payee associated with a payee client computer in communi

[ What is claimed:] [1.] An electronic financial transaction server, associated with a financial institution, comprising:a memory for storing a plurality of client account data, each of a first subset of said client account data representing a payee associated with a payee client computer in communication with said electronic financial transaction server, each of a second subset of said client account data representing a payor associated with a payor client computer in communication with said electronic financial transaction server;a communications interface for receiving one or more electronic bills from one or more of said payee client computers, each of said electronic bills having associated therewith a payor and a payee; anda bill processing mechanism that processes each of said electronic bills with respect to an associated client account data, said bill processing mechanism including instructions to automatically determine if said associated client account data for each of said electronic bills indicates a sufficient payor account balance to pay said electronic bill, to generate an electronic check for each of said electronic bills for which a sufficient payor account balance is available and to transmit each said electronic check to a payee client computer associated with the payee of a respective electronic bill.