Patent ID: 7331514

Claim:
A method of conducting a financial transaction, comprising: obtaining information about a financial transaction to allow at least a portion of subsequent processing of the financial transaction to be performed electronically wherein the information is obtained via an electronic device associated with a merchant involved in the financial transaction; determining whether the financial transaction is a corporate type transaction based on the presence of a field associated with the information, wherein the determination is performed at the electronic device associated with the merchant; applying selected merchant-defined rules to the financial transaction when the financial transaction is the corporate type transaction, wherein the merchant-defined rules comprise at least one of the group consisting of chosen check acceptance level and corporate check transaction capability; performing a risk assessment of the financial transaction to authorize or decline the financial transaction when the financial transaction passes the merchant-defined rules; and processing the financial transaction as a cash concentration disbursement (CCD) transaction via an automated clearing house (ACH) when the financial transaction is authorized.