Method for authenticating financial instruments and financial transaction requests

Patent metadata

Field	Value
Publication number	US-10672009-B2
Application number	US-201715655971-A
Country	US
Kind code	B2
Filing date	Jul 21, 2017
Priority date	Apr 28, 2010
Publication date	Jun 2, 2020
Grant date	Jun 2, 2020

Abstract

A method for authenticating a check of a plurality of checks where the check was previously issued from a first party to a second party, including receiving first information from the first party, storing the first information in a file of a third party and receiving the check. The check has first party identifying information, a unique pseudorandom number of a pseudorandom sequence, and an amount. A status of activating the plurality of checks is determined. At least a portion of the first party identifying information included with the check, the unique pseudorandom number included with the check and the check amount included with the check are authenticated. The received check is authenticated if the first party, the unique pseudorandom number included with the check and the amount included with the check are authenticated and if the plurality of checks have been activated.

First claim

What we claim is:

1. A method for authenticating a check, the check being one of a plurality of checks, the check being previously issued from a payor to a payee, the method comprising:
receiving, at a third party processor, an amount of the check and information for identifying the check from the payor;
storing the amount of the check and information for identifying the check in non-volatile memory associated with the third party processor, wherein said stored an amount of the check and information for identifying the check is accessible to an online banking interface;
receiving, at the third party processor, the check having information for identifying the payor, a unique pseudorandom code of a pseudorandom sequence, wherein the pseudorandom sequence is generated via a random number processor using a secret key as an initial seed, and wherein the unique pseudorandom code is of a variable length for each check in the plurality of checks, and an amount;
determining, via the third party processor, a status of activating the plurality of checks using the information for identifying the payor included with the check, a stored activation code specific to the plurality of checks generated using a pseudorandom alphanumeric generator that generates each alphanumeric character of the activation code independently, and stored information for identifying the payor, the stored information for identifying the payor being stored with the pseudorandom sequence;
the online banking interface authenticating the at least a portion of the information for identifying the payor included with the check with the stored information for identifying the payor;
the online banking interface authenticating the unique pseudorandom code included with the check using at least a portion of the information for identifying the payor included with the check, the stored information for identifying the payor and the stored pseudorandom sequence;
the online banking interface authenticating the amount included with the check using the stored amount of the check and information for identifying the check; and
authenticating, at the third party processor, the received check if the payor, the unique pseudorandom code included with the check and the amount included with the check are authenticated and if the plurality of checks have been activated.

2. The method of claim 1 , further comprising:
the online banking interface authenticating the amount included with the check with the stored amount of the check; and
notifying the payor if the amount included with the check is unauthentic; and
receiving a request to cancel the check based on the notification.

3. The method of claim 2 , further comprising notifying the payor of the canceled check.

4. The method of claim 1 , further comprising:
providing the online banking interface to the payor for entering amount of the check and
information for identifying the check; and receiving the amount of the check and
information for identifying the check via the online banking interface.

5. The method of claim 4 , wherein the online banking interface is provided at a website or a web portal of the third party processor.

6. The method of claim 1 , wherein the information for identifying the check further comprises at least one of a name of a second party, an address of the second party, a check date, a time the check was drafted, or a check description.

7. The method of claim 1 , further comprising:
associating the activation code with each unique pseudorandom code of the pseudorandom sequence included with each check of the plurality of checks;
associating the activation code with additional for identifying the payor; and
storing the activation code with each unique pseudorandom code and the associated additional information.

8. The method of claim 5 , further comprising dynamically displaying stored information associated with the check to the payor, the stored information including the stored amount of the check and information for identifying the check, the stored unique pseudorandom code of the check, and the stored additional information.

9. The method of claim 6 , wherein the stored information associated with the check is dynamically displayed in the online banking interface.

10. The method of claim 7 , further comprising:
storing information associated with each check of the plurality of checks in a database accessible to the online banking interface, wherein said database resides on the non-volatile memory of the third party processor;
updating information associated with each check of the plurality of checks in the online banking interface using information received from the payor;
storing the updated information in the database accessible to the online banking interface; and
dynamically displaying the updated information in the online banking interface.

11. A method for authenticating a financial transaction request, the financial transaction request being representative of a check, the check being previously issued from a payor to a payee, the method comprising:
providing a third party financial transaction computer processor, the third party financial transaction computer processor having a computer readable storage medium, the computer readable storage medium comprising instructions stored therein for executing on said processor, the instructions when read and executed, for:
receiving a check amount and information for identifying the check from the payor;
storing the check amount and information for identifying the check in non-volatile memory of one or more third party financial transaction computer processors, wherein the stored check amount and information for identifying the check is accessible to an online banking interface;
receiving additional information including information for identifying the payor, a unique pseudorandom code associated with of the check, and the check amount, the unique pseudorandom code of the check comprising a portion of a pseudorandom sequence associated with a plurality of checks, wherein the pseudorandom sequence is generated via a pseudorandom generator using a secret key as an initial seed, and wherein the unique pseudorandom code is of a variable length for each check in the plurality of checks;
determining a status of activating the plurality of checks using at least a portion of the information for identifying the payor included with the additional information, a stored activation code specific to the plurality of checks generated using a pseudorandom alphanumeric generator that generates each alphanumeric character of the activation code independently, and stored information for identifying the payor, the stored information for identifying the payor being stored with the pseudorandom sequence and being accessible to the online banking interface;
the online banking interface authenticating the at least a portion of the information for identifying the payor included with the additional information with stored information for identifying the payor;
the online banking interface authenticating the unique pseudorandom code included with the additional information using at least a portion of the information for identifying the payor included with the additional information, the stored information for identifying the payor and the stored pseudorandom sequence;
the online banking interface authenticating the check amount included with the additional information using the stored check amount and information for identifying the check; and
authenticating the additional information if the at least a portion of the information for identifying the payor included with the additional information, the unique pseudorandom code included wi

Assignees

• Capital One Financial Corp
• Capital One Services Llc

Inventors

• Kelly James John
• Rowley Iii Robert Dean
• Sandler Todd Adam
• Struble Daniel Lloyd
• Wolfs Rudolph Christian
• Deliberis Joseph

Classifications

• G06Q20/042

  characterized in that the payment protocol involves at least one cheque · CPC title

• G06Q20/354

  Card activation or deactivation · CPC title

• G06Q30/0185 Primary

  Product, service or business identity fraud · CPC title

• G06Q20/105

  involving programming of a portable memory device, e.g. IC cards, "electronic purses" · CPC title

• G06Q20/40

  Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists · CPC title