Patent ID: 8600898

Claim:
An electronic payment system, comprising: a data store configured to store a digital payment file; a network interface configured to connect to a plurality of users; and one or more processors connected to the data store and the network interface, wherein the one or more processors are configured to: receive input from a payor; create a digitally originated check to one or more payees responsive to the input from the payor; store the digitally originated check in the data store created based on the input of the payor in the data store as metadata in the digital payment file for further processing of the digitally originated check by the electronic payment system instead of printing a paper check or a check image file, wherein the digitally originated check comprises a legal check item created without an original paper check that is maintained electronically from creation to clearing in the electronic payment system; notify the one or more payees associated with the created digitally originated check after the digitally originated check is created and stored that the digitally originate check is available in the data store of the electronic payment system; track the digitally originated check for activity associated with the digitally originated check; and process the digitally originated check by the one or more payees, wherein the one or more payees access the digitally originated check through the electronic payment system; wherein the digitally originated check is created by the payor, and wherein the metadata comprises the payment instruction, a globally unique identifier, tracking information, and security information; and wherein an output from the metadata in the digital payment file is interoperable with both paper and electronic clearing methods associated with check clearing systems; wherein the electronic payment system further comprising: accepting by both the payor and the payee a full set of warranties and indemnities applicable to banks of first deposit and clearing banks thereby enabling electronic presentment from payor to payee of the digital originated check under the Uniform Commercial Code and extending existing check clearing regulations between payor to payee and through associated banks of first deposit and clearing banks.