A method for effecting electronic payment, safeguarding banking and account information, while utilizing existing payment systems. The method comprises generating a system routing number and a payment identification code (PIC) relating to the beneficiary's account information, distributing payment identification codes to the existing payment system and financial institutions owning the account related to the payment identification codes, and the originator receiving a system routing number and the beneficiary's PIC number. The method also includes the originator communicating a payment instruction to a financial institution of the originator, wherein the payment instruction includes the system routing number beneficiary's payment identification code, the originator's financial institution receiving the payment instruction from the originator, wherein if the received PIC matches the originator's financial institution internal list of PICs, the originator's financial institution performs an “on us” transaction, and transmitting a payment instruction to an existing payment system in a case where the received PIC does not match originator's financial institution internal list of PICs. The method also includes the existing payment system validating the received PIC, wherein if the PIC is invalid, the payment instruction is returned to the originator's financial institution, converting the PIC and system routing number to a receiving payment instruction in a case where the PIC is a valid PIC, wherein the receiving payment instruction includes the beneficiary's financial institution's routing number and the beneficiary's account number. The existing payment system transmits the receiving payment instruction to a financial institution of the beneficiary, that financial institution credits the beneficiary's account if no problem exists, and otherwise returns a receiving payment instruction to the existing payment system. Upon receipt of the returned receiving payment instruction, the existing payment system translates the receiving payment instruction into the payment instruction prior to transmitting the payment instruction back to originator's financial institution.

Payment identification code and payment system using the same

A system and corresponding method are provided. The system includes a plurality of first entities (such as banks), each first entity communicatively connected to at least one distributed traffic agent (DTA), a second entity (such as a central facility) communicatively connected to a DTA, and a communication network communicatively connecting the DTAs. A payload containing a data file (such as electronic check presentment data, electronic payment data, or any other data type) is communicated from one first entity to another through their respective DTAs via the communication network. In addition, a transmittal containing control information corresponding to the payload is communicated from the one first entity to the second entity through their respective DTAs via the communication network.

Electronic payment clearing and check image exchange systems and methods

A method for a bank to obtain an electronically-stored financial document is disclosed. The financial document includes a specific document parameter, such as a record date. The bank maintains the financial document in an off-site storage system when the record date is later than a pre-selected date and in an on-site storage system when the record date is earlier than or equal to the pre-selected date. The off-site storage system is remotely-located from the on-site storage system. The bank receives a request for the financial document from a client and compares the record date to the pre-selected date to determine if the record date is later than, earlier than, or equal to the pre-selected date. In processing the request, the bank utilizes a computer terminal connected to the off-site and on-site storage systems to access one of the storage systems in response to the comparison of the record date to the pre-selected date. After accessing the appropriate storage system, the bank inputs data into the computer terminal to identify the requested financial document and then retrieves the requested financial document. The bank then reproduces the requested financial document and distributes the requested financial document to the requesting client, or some other end user of the bank.

Method of obtaining an electronically-stored financial document

A method, system, apparatus, and computer program for conducting a real-time payment transaction. The method includes receiving a request for payment from a creditor financial institution (FI), and forwarding it to a debtor (FI). A payment transaction message is received from the debtor financial institution, specifying an amount of payment requested in the request, and is forwarded to the creditor FI such that the amount of payment is credited to an account in real-time. The debtor FI can request a return of the payment, in which case the creditor FI can comply therewith or refuse to return the payment. Also, an unsettled financial position of the debtor FI can be settled where that position does not exceed a combination of a pre-funded balance in a settlement account and a net debit cap value, and multiple settlements can be performed depending on a relationship between the position and combination.

Real-time payment system, method, apparatus, and computer program

Storage space, loss of documents, misfiled and misplaced documents, and document retrieval are just a few of the problems of processing large volumes of paper. High storage costs, lost productivity, personnel costs, and poor responsiveness are some of the results. Until recently, technology could not provide a cost-effective method for reducing this paper flow. IBM designed its midrange ImagePlus™ system to provide an effective and comprehensive solution to both the paper and the work-flow problems. The AS/400™ ImagePlus system provides an imaging environment for departmental installations of up to 256 workstations. This system combines the image-handling capabilities of the IBM ImagePlus Workstation Program, the user interface and case/folder processing of the AS/400 Workfolder Application Facility, with the image storage and retrieval capabilities of the optical storage support subsystem. All together, these facilities provide a high configurable system capable of handling high volumes of transactions.

AS/400 ImagePlus system view

IBM's ImagePlus™ system is designed to permit the capture, storage, management, and retrieval of documents through digital imaging. The ImagePlus Workstation Program is that portion of the ImagePlus system that controls the user's workstation. This paper describes the challenges that were posed in designing an ImagePlus Workstation, and the approach taken by the development group to solve them. The primary design goal was to deliver operational performance for image processing in a cost-effective workstation, while permitting the user maximal control in viewing and manipulating scanned documents. The solution chosen implemented a Personal System® workstation that operates with a System/36, Application System/400®, or System/370 Multiple Virtual Storage host.

B. P. Gross

Papers

ImagePlus workstation program