Universal payment module and system

摘要

Methods, systems and instructions stored on computer-readable media for receiving an invoice associated with a buyer from a vendor that includes an invoice amount. The invoice is sent to the buyer. A buyer financial institution and a buyer account are determined. A check is received from the buyer to pay the invoice. A vendor financial institution and a vendor account is determined. A custodian financial institution and a custodian account is determined. An ICL is created based in part on the received check. The ICL includes the buyer account, the buyer financial institution, the custodian account, and the payment amount to transfer into the vendor account. The ICL is sent to the custodian financial institution to transfer the payment amount from the buyer account into the custodian account. An ACH transfer of funds in the amount of the payment amount from the custodian account to the vendor account is initiated.

主权项

1. A method for operating a universal payment system comprising one or more processors and a data repository, the method comprising:
accessing the data repository, the data repository storing:
vendor financial account data associated with vendor financial institutions for a first plurality of vendors that are registered with the universal payment system, including data on an ability of the vendor financial institutions to receive or not to receive image cash letters (ICLs) from the universal payment system;buyer financial account data associated with buyer financial institutions for a first plurality of buyers that are registered with the universal payment system; andnetwork transfer data for a network of financial institutions where image cash letter (ICL) transfers have been approved for direct ICL transfer from the universal payment system to a respective one of the financial institutions, the network transfer data including an account for each of the respective financial institutions in the network for receiving an ICL, wherein the network of financial institutions includes a custodian financial institution that holds a respective custodian account for receiving an ICL from the universal payment system therein, wherein the custodian financial institution may or may not be the same as the vendor financial institution for a given one of the vendors; receiving, at the universal payment system, a request from one of the buyers to send an approved payment amount on behalf of the one buyer to one of the vendors; accessing, by the one or more processors via the data repository, a buyer account associated with the financial institution for the one buyer; accessing, by the one or more processors via the data repository, a vendor account associated with the vendor financial institution for the one vendor; generating, by the one or more processors, an image of a check drawn on the one buyer account with a payee that is the one vendor based at least in part on the request from the one buyer and listing the approved payment amount and affixing a signature of the one buyer to the check, or receiving, by the one or more processors, an image of a check with a signature from the one buyer drawn on the one buyer account with a payee that is the one vendor; determining, by the one or more processors accessing the data repository, an ability of the vendor financial institution to receive or not to receive ICLs from the universal payment system; determining, by the one or more processors, based on the determination that the vendor financial institution for the one vendor cannot receive the ICL, the custodian financial institution from the network of financial institutions, wherein the custodian financial institution is not the vendor financial institution of the one vendor; creating, at the universal payment system, an ICL based in part on the check, wherein the image cash letter includes the buyer account and the buyer financial institution of the one buyer, the respective custodian account in the determined custodian financial institution, and the approved payment amount; sending, from the universal payment system, the ICL created to the custodian financial institution to transfer the approved payment amount from the buyer account at the buyer financial institution into the respective custodian account at the custodian financial institution; and initiating, by the universal payment system, an electronic transfer of the approved payment amount from the respective custodian account of the custodian financial institution to the vendor account at the vendor financial institution.