Patent Publication Number: US-2005131834-A1

Title: E-commerce by check

Description:
CROSS-REFERENCES TO RELATED APPLICATIONS  
      This application is related to U.S. patent application Ser. No. ______ entitled “E-CHECK AND E-COMMERCE”, attorney docket number AUS920030906US1, filed on the same day, the disclosure of which is incorporated herein in its entirety for all purposes.  
      This application is related to U.S. patent application Ser. No. ______ entitled “E-COMMERCE TRANSACTION AGGREGATION AND PROCESSING”, attorney docket number AUS920030904US1, filed on the same day, the disclosure of which is incorporated herein in its entirety for all purposes. 
    
    
     FIELD OF INVENTION  
      The present invention is in the field of e-commerce. More particularly, the present invention relates to methods, systems, and media to facilitate payment via check for electronic transactions, such as Web commerce transactions over the Internet.  
     BACKGROUND  
      Current web business processes for Point of Sale (POS) and checkout systems tend to prefer or to only accept payment for merchandise by credit card since payments via credit card can be cleared immediately and prior to providing the purchaser with the merchandise. For example, a customer may purchase a product with a credit card from a merchant electronically via the merchant&#39;s web site. The merchant will process the credit card payment, electronically communicating with the credit card company to verify that the credit card company is willing to pay the amount of currency described by the merchant for the transaction. Once the transaction is authorized, an approval code is provided to the merchant and the merchant completes the transaction by providing the customer with a receipt that includes the product and some description to identify the form of payment like the credit card utilized for payment.  
      Unlike credit cards, however, transactions that involve payment by check involve delays in processing, collectively referred to as a ‘float’ period, which prevent the merchant from immediately determining whether the bank associated with the check agrees to fund the transaction. More specifically, processing a check currently takes about 36-72 hours from the time a check is written until the check is actually paid out of the purchaser&#39;s account. One of the reasons for the delay is that the paper checks must be sent to a check clearinghouse like the Federal Reserve Bank/Clearinghouse where the amount of the check is manually entered and printed on the bottom right edge of the check. Then, the check is sent to the purchaser&#39;s bank where the check is sorted, scanned, and recorded for the monthly statement. After the purchaser&#39;s bank processes the check, the funds are deducted from the purchaser&#39;s account and transferred to the merchant&#39;s account. Thus, during the 36-72 hour ‘float’ period, the merchant can either send the merchandise or perform the service requested by the purchaser, e.g., risking the payment for the goods, services, cash, etc.  
      The merchant&#39;s bank is also disadvantaged because the merchant&#39;s bank will show the balance of the check in the merchant&#39;s bank account for the ‘float’ period. In particular, after the merchant receives the check and the merchant transmits the check to the merchant&#39;s bank. The merchant&#39;s bank, having received a negotiable instrument in the amount indicated on the check, credits the merchant&#39;s account by the amount on the check. However, the merchant will not know during the delay period of 36-72 hours, whether the check will actually clear, i.e., whether the purchaser actually has sufficient funds available for the transaction. A solution for the merchant&#39;s bank is to place a hold on the funds until the funds are actually received or for some standard number of days to make sure that the funds are transferred before the merchant can use the funds, effectively discouraging the merchant from accepting checks over credit cards.  
      One solution to this dilemma, currently the prominent solution, is to refuse to accept payment by check or to restrict payment for e-commerce transactions to credit cards or payment services, such as PayPal™. Thus, the purchaser, using a credit card, will receive the merchandise more quickly, tending to satisfy the purchaser at least from the stand point of convenience, and the merchant doesn&#39;t realize additional risks by shipping merchandise before a check clears.  
      At the same time, many purchasers are more reluctant to give out their credit card numbers to merchants for web commerce, or e-commerce, transactions over, e.g., the Internet, One reason for reluctance by purchasers to use their credit card for e-commerce transactions via the Internet, is that credit card companies tend to allow purchasers to spend to their credit limit, which is typically inflated to encourage spending. Such purchaser&#39;s prefer to pay by check, since they feel that payment by check provides them with more control over their funds.  
     SUMMARY OF THE INVENTION  
      The problems identified above are in large part addressed by methods, systems, and media to facilitate payment via check for electronic transactions, such as Web commerce transactions over the Internet. One embodiment provides a method for e-commerce with a check. The method generally includes providing a purchaser with an encoded personal identification number (PIN); receiving the encoded PIN in response to an offer of payment by the purchaser to a merchant by check; decoding the encoded PIN; and comparing the decoded PIN with information associated with the purchaser to authenticate the purchaser and to verify that sufficient funds are available to the purchaser for the transaction.  
      Another embodiment provides an apparatus for e-commerce with a check. The apparatus contemplates a PIN module to provide a purchaser with an encoded personal identification number (PIN); a purchaser database to maintain information associated with the purchaser and an account associated with the purchaser; and a PIN processor to receive the encoded PIN in response to an offer of payment by the purchaser to a merchant by check, decode the encoded PIN, and compare the decoded PIN with the information associated with the purchaser to authenticate the purchaser and to verify that sufficient funds are available to the purchaser for the transaction.  
      A further embodiment provides a machine-accessible medium containing instructions, which when executed by a machine, cause said machine to perform operations. The operations can involve providing a purchaser with an encoded personal identification number (PIN); receiving the encoded PIN in response to an offer of payment by the purchaser to a merchant by check; decoding the encoded PIN; and comparing the decoded PIN with information associated with the purchaser to authenticate the purchaser and to verify that sufficient funds are available to the purchaser for the transaction. 
    
    
     BRIEF DESCRIPTION OF THE DRAWINGS  
      Other objects and advantages of the invention will become apparent upon reading the following detailed description and upon reference to the accompanying drawings in which, like references may indicate similar elements:  
       FIG. 1  depicts an embodiment of a system including a purchaser, a purchaser&#39;s bank, and a merchant coupled via a LAN and/or WAN to facilitate payment by check for a web commerce transaction;  
       FIG. 2  depicts an embodiment of a PIN module and a PIN processor to facilitate payment by check for a web commerce transaction;  
       FIG. 3  depicts an example of a flow chart to facilitate payment by check for a web commerce transaction; and  
       FIG. 4  depicts an example of a payment page having a payment by e-check option. 
    
    
     DETAILED DESCRIPTION OF EMBODIMENTS  
      The following is a detailed description of example embodiments of the invention depicted in the accompanying drawings. The example embodiments are in such detail as to clearly communicate the invention. However, the amount of detail offered is not intended to limit the anticipated variations of embodiments, but on the contrary, the intention is to cover all modifications, equivalents, and alternatives falling within the spirit and scope of the present invention as defined by the appended claims. The detailed descriptions below are designed to make such embodiments obvious to a person of ordinary skill in the art.  
      Generally speaking, methods, systems, and media to facilitate payment by check for a web commerce transaction are contemplated. Embodiments include hardware and/or software for providing a purchaser with an encoded personal identification number (PIN); receiving the encoded PIN in response to an offer of payment by the purchaser to a merchant by check; decoding the encoded PIN; and comparing the decoded PIN with information associated with the purchaser to authenticate the purchaser and to verify that sufficient funds are available to the purchaser for the transaction. Many embodiments include encryption systems to encode a PIN or password to generate the encoded PIN. Further embodiments encourage Web Commerce merchants to accept personal, electronic checks on a regular basis for e-commerce transactions by providing a method for clearing checks immediately or practically as fast as clearing credit card payments. In other words, it is very important for the merchant to know that there is money available in the purchaser&#39;s account to fund the transaction as indicated by the check, and that the funds will be transferred to the merchant in a timely manner, ideally in real-time.  
      When a Web customer makes a purchase from an e-commerce Web site, the customer, or purchaser, provides the check information such as the routing number for the bank, account number, and check number on a Web checkout form. In addition, the purchaser provides an encoded, personal identification number (PIN) such as a password to validate that the purchaser is the owner of the checking account and has authority to write the check. The merchant then requests validation or clearance of the check and transference of the funds from the purchaser&#39;s account to the merchant&#39;s account.  
      To protect the purchaser and encourage the purchaser to use checks for payment of e-commerce transactions, the PIN is not processed by the merchant, but instead it is encrypted prior to being sent to the merchant or is sent directly to the customer&#39;s bank rather than to the merchant. The encryption of the security PIN can be made by a shopping cart plug-in or other similar software. When the purchaser submits a check, the merchant in turn, submits that encrypted security PIN to the purchaser&#39;s bank for authorization along with the rest of the checking account information. When the purchaser&#39;s bank clears the check and the funds are transferred to the merchant&#39;s account, an acknowledgement is sent to the merchant from the merchant&#39;s bank to authorize the transaction.  
      Turning now to the drawings,  FIG. 1  depicts an embodiment of a system  100  to facilitate payment for a web commerce transaction by check. More specifically, system  100  may include a purchaser  110 , a local area and/or wide area network (LAN/WAN)  135 , a merchant  140 , an intermediary  150 , and a purchaser&#39;s bank  160 . Purchaser  110  may include a customer operating any microprocessor-based device such as a laptop computer, a desktop computer, a personal digital assistant (PDA), a cellular phone, and the like, that have capabilities of executing a program such as pin module  115 , or, in some embodiments, interacting with an application program interface (API) of purchaser&#39;s bank  160  to generate an encoded, personal identification number (PIN)  132  such as an encrypted password. For example, purchaser  110  may search for the best price for a printer via the Internet and find that merchant  140  offers payment by check as well as the best combination of price and shipping costs. Purchaser  110 , given the opportunity by merchant  140  and preferring to purchase the printer by check, enters check information such as a routing number, an account number, and a check number for a check that purchaser  110  wants to use for the transaction.  
      In addition to supplying the routing number, account number, and check number, purchaser  110  generates encoded PIN  132  via PIN module  115  and uploads encoded PIN  132  to merchant  140 , wherein merchant  140  transmits encoded PIN  132  along with the routing number, account number and check number and the amount to purchaser&#39;s bank  160  via intermediary  150 . Purchaser&#39;s bank  160  approves the transaction for the amount based upon encoded PIN  132  being a valid PIN for purchaser&#39;s account  172  and sufficient funds being available to purchaser  110  in purchaser&#39;s account  172 . Purchaser&#39;s bank  160  then transmits the approval to merchant  140 .  
      Purchaser  110  may include PIN module  115  and encoded PIN  132 . PIN module  115  may comprise client-side logic such as hardware and/or software to generate and encode a PIN for purchaser  110  to create encoded PIN  132 . In some embodiments, PIN module  115 , or part thereof, may be supplied to purchaser  110  by purchaser&#39;s bank  160  so encoded PIN  132  is predictable or partially predictable by PIN processor  162  of purchaser&#39;s bank  160 . In particular, PIN module  115  may include a PIN generator  120  and an encoder  125 . In some embodiments, PIN generator  120  may generate a code based upon facts such as the date and time, embedding an expiration into the code; the purchaser&#39;s name; a password known by or communicated to purchaser&#39;s bank  160  by purchaser  110 ; the routing number of purchaser&#39;s bank, etc. In several embodiments, the combination of facts selected to generate the code may be based upon the date and/or time of the generation of the code as a PIN so that the PIN can be generated by purchaser&#39;s bank  160  to verify the identity of purchaser  110 . In other embodiments, the PIN may simply be a password known by both purchaser  110  and purchaser&#39;s bank  160 . In further embodiments, a unique transaction number, like a check number, may be incorporated into the PIN to uniquely identify the transaction so encoded PIN  132  may not be used more than once to verify a transaction.  
      After the PIN is generated, encoder  125  may encode the PIN, including encrypting the PIN in the present embodiment, to create encoded PIN  132 . Encoder  125  may, for instance replace repetitive portions of the PIN with common blocks or replace typical patterns of bits, such as ‘1011’, ‘1111’, ‘0011’, or other shorter or longer patterns of bits with a representation of the pattern. For example, a row of 4 consecutive zeros ‘0000’ may be replaced with a bit pattern like ‘110’ indicating a count of four as well as a zero.  
      Encoder  125  may also include an encrypter  130 . Encrypter  130  may encrypt the PIN. In one embodiment, encrypter  130  may use a secret key, such as the Data Encryption Standard (DES) and Advanced Encryption Standard (AES) algorithms. With these algorithms, the sender, such as purchaser  110 , and the receiver, like purchaser&#39;s bank  160 , use the same key to encrypt and decrypt the PIN.  
      In a further embodiment, a public key cryptography is utilized. For instance, Rivest-Shamir-Adleman (RSA), a highly secure cryptography method by RSA Security, Inc., uses both a private and a public key. More specifically, the receiver, purchaser&#39;s bank  160 , maintains the private key and the sender, purchaser  110 , utilizes a public key for that purchaser&#39;s bank  160  to encrypt the PIN. Purchaser&#39;s bank  160  can then use the private key to decrypt encoded PIN  132  to obtain the PIN.  
      In some embodiments, both cryptographic methods may be used together, such as the DES secret key and the RSA public key algorithms. The secret key method provides the fastest decryption, and the public key method provides a convenient way to transmit the secret key, often referred to as a “digital envelope”.  
      In other embodiments, PIN module  115  may reside on a remote server from purchaser  110  such as purchaser&#39;s bank  160  and purchaser  110  may access PIN module  115  via LAN/WAN  135 .  
      LAN/WAN  135  is a network connection to couple purchaser  110  with servers such that merchant  140 , intermediary  150 , and/or purchaser&#39;s bank  160  can transmit encoded PIN  132  between the computers. In some embodiments, LAN/WAN  135  may include a network in an office coupled via Ethernet, optical media like OptiConnect, or the like. In several embodiments, LAN/WAN  135  also couples with the Internet via a cable modem, a digital subscriber line (DSL), a T1 line, a T3 line, or the like. In further embodiments, LAN/WAN  135  may include a network of temporary connections such as connections via a telephone system.  
      Merchant  140  may include a merchant&#39;s Internet storefront, or web site, on a server or other type of computer. Merchant  140  may include funds verifier  142  to determine whether the payment from purchaser  110  clears and the funds are transferred to the merchant&#39;s bank account. More specifically, upon receipt of the routing number from purchaser  110 , merchant  140  may facilitate transmittal of encoded PIN  132  from purchaser  110  to purchaser&#39;s bank  160  along with a request to clear a check from merchant  140  for an amount disclosed. After purchaser&#39;s bank decodes and verifies that the PIN from encoded PIN  132  is valid for purchaser  110  and purchaser&#39;s account  172 , purchaser&#39;s bank  160  may transmit an indication that the check is cleared or that funds will be transferred to the merchant&#39;s bank. In other embodiments, purchaser&#39;s bank  160 , upon verifying the transaction, immediately begins to transfer the funds in the amount indicated by the merchant and/or encoded PIN  132  to the merchant&#39;s bank. In further embodiments, encoded PIN  132  is transmitted directly to purchaser&#39;s bank  160  rather than being routed via merchant  140  and/or intermediary  150 .  
      In some embodiments, the merchant&#39;s bank transmits the transaction or checking information, such as the routing number, account number of purchaser&#39;s account  172 , check number, amount of currency represented by the check, and encoded PIN  132  to purchaser&#39;s bank  160  via an intermediary  150 . Intermediary  150  may be, e.g., a check clearinghouse or the merchant&#39;s bank and may include PIN router  152  and routing number database  154  to identify an electronic address for purchaser&#39;s bank  160  based upon the routing number supplied by purchaser  110 . For example, upon receipt of check information from purchaser  110 , merchant  140  may transmit encoded PIN  132 , the routing number, the account number, the check number, and the amount of the check to intermediary  150 . Pin router  152  then looks up an electronic address such as an IP address and possibly a port number for purchaser&#39;s bank  160  via routing number database  154 . Upon determining the electronic address, intermediary  150  routes the transaction information to purchaser&#39;s bank  160  via LAN/WAN  135 .  
      Purchaser&#39;s bank  160  may be a bank and a server for the bank coupled with LAN/WAN  135  to clear electronic check transactions and, possibly, to credit the bank account of merchant  140 . Purchaser&#39;s bank  160  may include PIN processor  162  and purchaser&#39;s account  172 . PIN processor  162  may be related to PIN module  115  in that PIN processor  162  can determine or predict encoding of the PIN to create encoded PIN  132 . For example, upon receipt of a request to clear a check of purchaser  110  from merchant  140 , PIN processor  162  may decrypt encoded PIN  132  and decode the PIN to determine the date and time of generation of the PIN. If the date and time indicate that encoded PIN  132  is more than two hours old, then PIN processor  162  may reject the transaction based upon expiration of encoded PIN  132 .  
      On the other hand, if encoded PIN  132  has not expired, PIN processor  162  may compare information from the PIN with information associated with purchaser&#39;s account  172  to determine whether the PIN verifies the identity of purchaser  110 . In some of these embodiments, for instance, a PIN generator  164  may generate a PIN based upon the date and time information included within encoded PIN  132  and generate a PIN in the same manner as the PIN generated by PIN module  115 . Then, comparator  166  may compare the PIN generated by PIN generator  164  against the PIN generated by PIN generator  120 . When the PINs match, purchaser  110  may be verified as the owner of purchaser&#39;s account  172  and authorized to electronically sign and submit the e-check. Otherwise, the transaction may be rejected.  
      PIN processor also includes decoder  168 . Decoder  168  is designed to decode PINs encoded by encoder  125 . In some embodiments, decoder  168  may be designed to decode PINs encoded by different account holders by utilizing information associated with the corresponding accounts to perform the decoding. For instance, decoder  168  may be adapted to decode encoded PIN  132  by supplying decoder  168  with information, or at least giving decoder  168  access to information related to purchaser&#39;s account  172 .  
      Decoder  168  may include decrypter  170 . Decrypter  170  may decrypt encoded PIN  132  to determine the PIN, or at least facilitate access to information represented by the PIN. For example, decrypter  170  may decrypt encoded PIN  132  first with a public key and then with a secret key. After being decrypted, encoded PIN  132  may include encoded checking information such as the routing number, account number, check number or a unique transaction number, as well as the date and time for creation of the PIN and the date and time associated with expiration of the PIN.  
       FIG. 2  depicts an embodiment of a device  200  including a PIN module and a PIN processor to facilitate payment by check for a web commerce transaction. Device  200  may be integrated with software on a server for a bank such as purchaser&#39;s bank  160  from  FIG. 1 . Device  200  includes hardware and software adapted to interact with a purchaser  205  to generate an encoded PIN and interact with a merchant  207  to clear an electronic check transaction with purchaser  205  via the encoded PIN. For example, purchaser  205  may interact with PIN module  210  to generate an encoded PIN and pass that encoded PIN to merchant  207  along with information to pay by check for a transaction with merchant  207 . Then, PIN processor  240  may receive the encoded PIN from merchant  207  and verify that the transaction is trustworthy by authenticating the encoded PIN.  
      In the present embodiment, device  200  may include PIN module  210 , an encoder/decoder  220 , a database  230 , and a PIN processor  240 . PIN module  210  may provide a purchaser  205  with an encoded PIN. For example, when purchaser  205  desires to pay for an e-commerce transaction via check, purchaser  205  may log into PIN module  210 . Logging into PIN module  210  may initiate a purchaser interface  212  designed to interact with purchaser  205  and database  230  to generate the encoded PIN. More specifically, purchaser interface  212  may establish access to purchaser account  232  based upon the login information supplied by purchaser  205  and PIN generator  214  may utilize some or all of the information contained by purchaser account  232  to generate a PIN. In some embodiments, purchaser  205  may supply a password that is included in the encoded PIN.  
      Once the PIN is generated, encoder/decoder  220  may encode the PIN to prevent access to the information included in the PIN by others. In many embodiments, in fact, purchaser  205  may not have the ability to decode the PIN. Encoder/decoder  220  may include a data encrypter/decrypter  222 . Data encrypter/decrypter  222  may both encrypt and decrypt PINs depending upon whether the PIN is received with PIN module  210  or PIN processor  240 . For example, after generating a PIN, purchaser interface  212  may forward the PIN to encoder/decoder  220  to encrypt the PIN prior to transmitting the PIN to purchaser  205 . Once encrypted, the PIN is transmitted to purchaser  205  so purchaser  205  can upload the encoded PIN to the merchant selected by purchaser  205 .  
      After receiving the encoded PIN, merchant  207  transmits the encoded PIN to PIN processor  240 . Advantageously, merchant  207  is unable to decode the encoded PIN so purchaser can feel comfortable about transmission of the checking account information to merchant  207 . PIN processor  240  then processes the PIN to verify the trustworthiness of the transaction forwarded by merchant  207  and if PIN processor  240  determines that the transaction is trustworthy based upon verification of the encoded PIN, PIN processor  240  may clear the electronic check, allowing funds to transfer from purchaser account  232  if purchaser account  232  has sufficient funds and/or credit to cover the amount of the transaction.  
      Database  230  may maintain information associated with the purchaser and the purchaser&#39;s account. More specifically, database  230  may include purchaser account  232 . Purchaser account  232  may be data describing the balance  236  in the purchaser&#39;s account and include an e-check transaction number monitor  234 . E-check transaction number monitor  234  may track, e.g., check numbers associated with electronic check transactions to prevent clearance of two transactions with the same transaction number. For instance, merchant  207  may receive an encoded PIN along with electronic check information to pay for merchandise ordered by purchaser  205 . Merchant  207  may transmit the encoded PIN to PIN processor  240  to clear the electronic check and, after a short period of time has elapsed without acknowledgement of receipt of the encoded PIN by PIN processor  240 , transmit the encoded PIN again along with the electronic check information. PIN processor  240  may compare the electronic check number, a unique transaction number, with e-check transaction number monitor  234  to determine whether the electronic check number is valid and if the number was used before. If the electronic check number has not been used and is a valid number, the electronic check may be cleared. In some embodiments, valid electronic check numbers are numbers within, e.g., five consecutive check numbers from the last check number processed. Further, the check numbers may be consecutive only in the sense that they are generated in order by PIN generator  214  and not necessarily in an ascending or a descending alphanumeric order.  
      PIN processor  240  may receive the encoded PIN in response to an offer of payment by purchaser  205  to merchant  207  by check. Then, pin processor may decode the encoded PIN and compare the decoded PIN with the information associated with purchaser  205  to authenticate purchaser  205  and to verify that sufficient funds are available to purchaser  205  for the transaction. In particular, PIN processor  240  includes PIN receiver  242  and comparator  250 . PIN receiver  242  may receive an encoded PIN from merchant  207  in conjunction with a request to clear an electronic check, or e-check transaction and interact with encoder/decoder  220  to decrypt and/or decode the encoded PIN.  
      After decoding the encoded PIN, comparator  250  may include transaction authenticator  252  to compare a password embedded in the decoded PIN against a password received from purchaser  205  for the transaction. Transaction authenticator  252  may be designed to verify the authenticity of the encoded PIN. Further, comparator  250  may include a funds verifier  254  that, after verifying the authenticity of the e-check transaction, compares the amount of the transaction to the balance  236  in purchaser account  232 . When balance  236  is insufficient to cover the amount of the transaction, taking into consideration any overdraft credit that purchaser  205  may have, PIN processor  240  will reject the transaction. Similarly, if the transaction is not determined to be trustworthy as a result of a failure to verify some information related to the encoded PIN, or because the encoded PIN expired before being received by PIN processor  240 , PIN processor  240  may reject the transaction.  
      Referring now to  FIG. 3 , there is shown an example of a flow chart  300  to facilitate payment by check for a web commerce, or on-line transaction. Flow chart  300  begins with generating a PIN for the purchaser (element  310 ). For example, an e-commerce merchant system supports the routing of check clearing information to specific banks. The routing number is used to contact the customer&#39;s bank. Looking at  FIG. 4 , after a web-based customer selects items for his shopping basket and checks out on an e-commerce site, the e-commerce site may present a payment page  400  with a form that includes the option of paying for the purchase with a credit card  410  or an electronic check, such as e-check  420 .  
      The customer, or purchaser, enters a bank routing number, optional check number, and account number on the form for an account having the purchaser as an authorized signatory. In addition, the purchaser enters a private e-check PIN. The PIN, or checking account password, is encrypted prior to submitting the e-check to the merchant. For instance, e-check  420  may include a browse to upload button like button  425  to allow the purchaser to identify the encrypted PIN, e.g., on the purchaser&#39;s local hard drive. The merchant then accepts the encrypted PIN, and transfers the encrypted PIN along with the check information to the purchaser&#39;s bank for payment, using the routing code submitted by the customer. In some embodiments, the form for e-check  420 , or at least the password field, is provided through a trusted third party, the purchaser&#39;s bank, or another bank. The form can then encrypt the password or ensure that the merchant has no access to the password or PIN.  
      The purchaser&#39;s bank receives the encrypted PIN from the merchant (element  315 ) along with the check information and the purchaser&#39;s bank uses the customer&#39;s assigned PIN to authorize the submitted e-check request. More specifically, the encrypted PIN is decrypted and the encoded information in the PIN is decoded (element  320 ). The decoded PIN is then compared with the expected PIN (element  325 ), comparing, for example, information such as data associated with the purchaser&#39;s account or the purchaser.  
      When the PIN does not match the expected PIN (element  330 ) or the purchaser&#39;s account has insufficient funds to cover the transaction (element  335 ), a disapproval of the requested transaction is transmitted to the merchant in response to the transaction request (element  337 ). In some embodiments, when the PIN, password or other security information is invalid, the purchaser may be given a predetermined number of retries before the transaction is cancelled. Further, if the number of invalid PIN or password security retries is exceeded, the merchant may then reject the e-check transaction with the purchaser and the purchaser is notified by either the purchaser&#39;s bank or the merchant. Notification may be through e-mail, a Web page, or other suitable mechanism.  
      On the other hand, when the PIN does match the expected PIN (element  330 ) and the purchaser&#39;s account has sufficient funds to cover the transaction (element  335 ), the transaction is approved and the approval is transmitted to the merchant (element  340 ). In many embodiments, if the funds are available, they can be transferred immediately to the merchant&#39;s account and the merchant is notified to complete the transaction.  
      One embodiment of the invention is implemented as a program product for use with a computer system such as, for example, the system  100  shown in  FIG. 1 . The program(s) of the program product defines functions of the embodiments (including the methods described herein) and can be contained on a variety of signal-bearing media. Illustrative signal-bearing media include, but are not limited to: (i) information permanently stored on non-writable storage media (e.g., read-only memory devices within a computer such as CD-ROM disks readable by a CD-ROM drive); (ii) alterable information stored on writable storage media (e.g., hard-disk drive or floppy disks within a diskette drive); and (iii) information conveyed to a computer by a communications medium, such as through a computer or telephone network, including wireless communications. The latter embodiment specifically includes information downloaded from the Internet and other networks. Such signal-bearing media, when carrying computer-readable instructions that direct the functions of the present invention, represent embodiments of the present invention.  
      In general, the routines executed to implement the embodiments of the invention, may be part of an operating system or a specific application, component, program, module, object, or sequence of instructions. The computer program of the present invention typically is comprised of a multitude of instructions that will be translated by the native computer into a machine-readable format and hence executable instructions. Also, programs are comprised of variables and data structures that either reside locally to the program or are found in memory or on storage devices. In addition, various programs described hereinafter may be identified based upon the application for which they are implemented in a specific embodiment of the invention. However, it should be appreciated that any particular program nomenclature that follows is used merely for convenience, and thus the invention should not be limited to use solely in any specific application identified and/or implied by such nomenclature.  
      It will be apparent to those skilled in the art having the benefit of this disclosure that the present invention contemplates methods, systems, and media to implement a personal identification number (PIN) to facilitate payment for electronic transactions via check. It is understood that the form of the invention shown and described in the detailed description and the drawings are to be taken merely as examples. It is intended that the following claims be interpreted broadly to embrace all the variations of the example embodiments disclosed.