International negotiable instrument payment
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United States of America Patent
Stats
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Mar 26, 2013
Grant Date -
Oct 2, 2003
app pub date -
Mar 27, 2002
filing date -
Mar 27, 2002
priority date (Note) -
In Force
status (Latency Note)
Importance
Abstract
According to the invention, a method for purchasing a negotiable instrument from an online payment system by a payor to compensate a payee in relation to a listing on a vending site is disclosed. In one step, a payment currency and/or a drawee bank nationality is selected for the online payment system to use when issuing the payment instrument. Payment information is received from the payor and comprises at least two of: a payee identifier, a payee name, a payee address, and a payment amount. A money handler associated with the payor is debited for at least the payment amount. The payment instrument payable to the payee name for the payment amount is generated. That payment instrument is based on at least one of the payment currency and the drawee bank nationality. The payment currency is different from a currency used by the money handler. The payment instrument is delivered to the payee.
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