Method and system for processing payment items at a central processor
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United States of America Patent
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N/A
Issued Date -
Dec 8, 2005
app pub date -
Jun 4, 2004
filing date -
Jun 4, 2004
priority date (Note) -
Abandoned
status (Latency Note)
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Abstract
A method and system of the present invention are directed to processing payment items at a central processing facility for a merchant with multiple merchant locations. A computer implemented method for processing payment items may involve receiving an envelope with a label wherein the envelope comprises payment items from a merchant location; wherein the label indicates to a sorter at a mail facility that the envelope is destined for a central processor and the envelope skips regular mail channels; encoding one or more of the payment items at the central processor; depositing the payment items into a single national account associated with a merchant entity, wherein the merchant entity comprises a plurality of merchant locations; clearing the payment items through one or more payor entities; and providing funds availability information to the merchant entity through an online interface.
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