Importance

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Abstract

The purchase and redemption of virtual traveler's checks is managed. A purchase request is received, which includes purchasing customer identification information and a request for one or more virtual traveler's checks. Each of the one or more virtual traveler's checks has one of a predetermined set of fixed denominations. A check number is issued for each of the one or more virtual traveler's checks. Each check number is associated with the purchasing customer identification information. A redemption request is then received, which includes redeeming customer identification information and a request to redeem at least one of the one or more virtual traveler's checks. The release of funds is approved in an amount equal to the denominations of the requested virtual traveler's checks if the redeeming customer identification information matches the purchasing customer identification information.

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First Claim