Patents Assigned to Primary Payment Systems, Inc.
  • Database for check risk decisions populated with check activity data from banks of first deposit
    Publication number: 20030217003
    Abstract: A plurality of banks of first deposit provide checking account activity data for both transit items (checks received for deposit that need to be cleared) and incoming returns (bounced checks) to a statistical model which determines from the data the likelihood that a check from a specific checking account will be returned. This data is used to populate a database of checking accounts to be used for making check risk decisions, such as check hold policy decisions, check acceptance decisions, and open to buy decisions.
    Type: Application
    Filed: May 14, 2002
    Publication date: November 20, 2003
    Applicant: Primary Payment Systems, Inc.
    Inventors: Laura E. Weinflash, Larry W. Spooner