Electronic Funds Transfer Consumer Authorization Verification System

摘要

An electronic funds transfer consumer authorization verification system for efficiently proving that a consumer authorized a financial transaction via an ACH network. The electronic funds transfer consumer authorization verification system generally includes accepting by a business an authorization from a consumer to debit and/or credit the consumer's financial account in a specified amount via an ACH network, communicating the ACH detailed record for the ACH transaction along with a transaction data file from the business to a third-party payment processor, and communicating to the business a transaction key associated with both the ACH detailed record and the transaction data file. The transaction data file is an image data file that may be comprised of an ACH authorization signature or statement by the consumer authorizing the ACH transaction, a copy of the identification documents for the consumer and/or state licensing information for the business.

主权项

1. A method of verifying an electronic funds transfer, said method comprising:
receiving by a business from a consumer a transaction data for a financial transaction to debit and/or credit said consumer's financial account via a financial network; receiving by said business from said consumer an authorization for said financial transaction; creating a funds transfer file by said business that includes a detail record having financial information relating to said financial transaction; creating at least one transaction data file that includes said authorization for said financial transaction; transmitting said funds transfer file from a business computer to a payment processor computer for a third-party payment processor via a telecommunications network; transmitting said transaction data file from a business computer to said payment processor computer for a third-party payment processor via a telecommunications network; generating a transaction key by said third-party payment processor; and storing said transaction key in a database that includes information for said detail record and information for said at least one transaction data file related to said detail record, wherein said transaction key relates to both said detail record and said at least one transaction data file, wherein said transaction key is unique for said detail record, and wherein said transaction key is utilized to access said at least one transaction data file.