Check guarantee, verification, processing, credit reports and collection system and method awarding purchase points for usage of checks

摘要

In response to a buyer submitting a check as payment for a transaction with a seller, a check guarantee service determines whether to guarantee the check as payment for the transaction, and offers a membership in the guarantee service to the buyer. Members are issued a user identification number to the buyer and are prompted to select a personal identification number. In subsequent transactions, the member provides his/her user identifier number to the seller for the automatic guaranteeing by the guaranteeing service of the check as payment for the transaction. Members can be awarded points each time the member uses the guaranteeing service to guarantee a check. The points can be converted into digital currency usable for purchasing goods and services.