Abstract: The present disclosure provides a digitally originated check (DOC) through an electronic payment system (EPS) which captures payor metadata instructions regarding the intended payment to a payee. The metadata is stored in a database or the like for further processing instead of printing a paper check. The DOC can be cleared either electronically or through a paper substitute check through Check 21 clearing methods. The present invention enables both payors and payees to participate with the EPS as well as the EPS may provide electronic lock box services to payees. The DOC may be used in an electronic lockbox application where in addition to the payment information; the DOC further includes remittance data that may be used to update accounting systems or the like.

Abstract: The present invention provides a digitally originated check (DOC) through an electronic payment system (EPS) which captures payor metadata instructions regarding the intended payment to a payee. The metadata is stored in a database or the like for further processing instead of printing a paper check. The EPS is operable to clear the DOC through either paper or electronic Check 21 mechanisms.

Abstract: A computer implemented method, a system, and software provides a new processing origination model allowing a new 6th party in payment processing systems and networks, to inspect transactions before they are authorized, enabled or further processed by the payment or settlement network. This new processing delivery system and method may limit or reduce the service operators risk exposure to a defined limit, thereby improving the service providers' ability to manage a known and quantifiable risk level per merchant while limiting the system implementer's total amount of risk and improving both the speed of underwriting and merchant approval process.

Abstract: The present invention provides a digitally originated check (DOC) through an electronic payment system (EPS) which captures payor metadata instructions regarding the intended payment to a payee. The metadata is stored in a database or the like for further processing instead of printing a paper check. The DOC can be cleared either electronically or through a paper substitute check through Check 21 clearing methods. The present invention further provides a true check card operable to provide DOCs at point-of-sale terminals.

Abstract: The disclosure describes a digitally originated check (DOC) through an electronic payment system (EPS) which captures payor metadata instructions regarding the intended payment to a payee. The metadata is stored in a database or the like for further processing instead of printing a paper check. The DOC can be cleared either electronically or through a paper substitute check through Check 21 clearing methods.

Abstract: Exemplary embodiments provide a digitally originated check (DOC) through an electronic payment system (EPS) which captures payor metadata instructions regarding the intended payment to a payee. The metadata may be stored in a database or the like for further processing instead of printing a paper check. An output of the metadata can be used to clear the DOC through either paper or electronic clearing mechanisms under Check 21.