Patent ID: 6644546
Filing Date: 2003-11-11
Classification: G06Q,G07G

Abstract:
A system for electronic check conversion (ECC) at a point-of-sale, said system comprising:a point-of-sale (POS) terminal; a verification system electronically coupled to said POS terminal an electronic settlement network electronically coupled to said POS terminal and said verification system; means for receiving a total for a transaction at said POS terminal; means, responsive to a receipt of a negotiable instrument as tender for said transaction, for automatically reading at least a first indicia on said negotiable instrument, wherein said first indicia includes contact information of a purchaser associated with said transaction; and means for automatically preparing an agreement for execution by said purchaser, wherein said agreement includes a printed image of said first indicia and authorizes debiting an account associated with said negotiable instrument by said total value, wherein further, execution of said agreement by said purchaser completes said transaction.