Abstract: The present invention includes transaction processing systems that process transactions from merchant systems designed to convert the presentation of a transponder device into electronic debits from a checking account. The transaction processing systems also can provide risk assessment, validation or user data and/or MICR data, and/or transaction guarantee services.

Abstract: The present invention includes a merchant computing system that recognizes a wireless device, such as, for example, a wireless transponder, and converts the presentation of the wireless device into transaction requests for electronic debits to a checking account. The merchant computing system-enrolls users who provide MICR data identifying their checking account, and whose risk assessment falls within predetermined enrollment parameters. Moreover, the merchant computing system accepts those transactions which also fall within predetermined transaction parameters.

Abstract: The present invention includes a merchant system that recognizes virtually any payment device or technology that uses electronic check processing as a payment mechanism. For example, the merchant system associates presentation of the payment device with information used to electronically debit a checking account, such as MICR data, and submits the same to a transaction processor capable of settling electronic debit transactions.

Abstract: The present invention includes transaction processing systems that process transactions from merchant systems designed to convert the presentation of virtually any payment device or technology into electronic debits from a checking account. For example, the payment device can include a transponder, a loyalty card, one or more smart cards, a computing device, a personal digital assistant, a wireless telephone, one or more biometric elements, and one or more devices using biometric information.