Systems and methods for identifying payor location based on transaction data
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United States of America Patent
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Aug 24, 2010
Grant Date -
Jun 9, 2005
app pub date -
Dec 9, 2003
filing date -
Dec 9, 2003
priority date (Note) -
In Force
status (Latency Note)
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Abstract
Systems and methods are described for building, maintaining, and using a repository of information about payors of second-party checks presented at a check-cashing entity for cashing. In various embodiments, the repository comprises stored information useful for determining the location of a payor of a second-party check. In one embodiment, information from the check that identifies an account on which the check is drawn, such as magnetic ink character recognition (MICR) line information from a paycheck, is used to access a repository of employer location information. In one embodiment, the payor location information is used to determine a proximity between the payor location and the check cashing entity location. In one embodiment, when a check is presented for which stored payor location information is not available, identifying information about the payor and/or the payor location is requested and is added to the repository.
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