Patent ID: 7611046
Filing Date: 2009-11-03
Classification: G06Q

Abstract:
1. A method of using a point of sale device to convert a promissory transaction into a direct debit transaction, the method comprising: transmitting with a point of sale device data associated with a promissory transaction to a check acceptance service computer; performing, by the check acceptance service computer, a risk assessment based at least in part on the promissory transaction data to determine a projected risk associated with the check transaction; communicating an accept promissory payment message to the point of sale device when the projected risk meets an acceptance threshold; determining, by the check acceptance service computer, when the projected risk meets a secondary threshold, that the check transaction will be converted to a direct debit transaction, and displaying with the point of sale device an indication of a decision received from the check acceptance service computer to obtain an authorization from a check writer associated with the promissory transaction to convert the promissory transaction to a direct debit transaction, wherein the decision indicates that a deposit demand account associated with the promissory transaction has at least an amount associated with the promissory transaction; and communicating a decline promissory payment message to the point of sale device when the projected risk does not meet the acceptance threshold or the secondary threshold or when the deposit demand account does not have at least the amount associated with the promissory transaction.