Bar coded bill payment system and method

Abstract

A system and method for payment is provided, wherein consumers pay their bills at supermarkets, large retail chain, or other stores and receive immediate credit from billers for their payments. Payments are made using a bar code printed on the bill or sent to the consumer, e.g., by fax or email. The biller receives good payment funds, deposited directly into his bank account, and error-free electronic payment data for consumer bill payments by the very next business day. The biller backdates the received bill payments to the time and date the consumer actually paid, regardless of the time that the payment data takes to post to the biller's accounts receivable system. In another aspect, a method for person-to-person money transfers is provided, wherein a bar coded deposit slip, card, or other printout permits a sender to remit finds directly into a receiver's bank account, and such funds are quickly accessible for withdrawal at a nearby automated teller machine, or for a debit card purchase.

What is claimed is:  
     
         1 . A bill payment system comprising: 
 a payee transmitting or transferring to at least one payor a unique bar code comprising data identifying at least said payee and said payor; and    a scanning apparatus configured to scan a printed representation of said bar code, said scanning apparatus being capable, based on information stored in said bar code and a payment made by said payor, of transmitting funds or initiating a funds transfer to said payee in a predetermined amount and transmitting data or initiating a data transfer to said payee regarding said payment.    
     
     
         2 . A system as claimed in  claim 1 , wherein said funds are transmitted or transferred as an electronic funds transfer or via the Automated Clearing House.  
     
     
         3 . A system according to  claim 1 , wherein said apparatus is adapted to print a receipt evidencing said payment.  
     
     
         4 . A system as claimed in  claim 1 , wherein said bar code comprises a plurality of validation levels.  
     
     
         5 . A system as claimed in  claim 1 , wherein said data comprises the date and time said payor makes said payment.  
     
     
         6 . A system as claimed in  claim 1 , wherein said apparatus is integrated into a point-of-sale system.  
     
     
         7 . A system as claimed in  claim 1 , wherein said apparatus is in a location selected from the group consisting of: grocery store, convenience store, supermarket, chain store, post office, drug store, government office, location where goods are sold, location where services are sold, bank, and retail store.  
     
     
         8 . A system as claimed in  claim 1 , wherein said payee transmits or transfers said bar code to said payor by at least one method selected from the group consisting of: via facsimile transmission to or from a computer, via facsimile machine, via email, via file transfer protocol (FTP), via hypertext markup language (HTML), via extended markup language (XML), via hypertext transport protocol (HTTP), via modem, via the Internet, via a wide-area network (WAN), via a local-area network (LAN), via diskette, and via removable storage medium.  
     
     
         9 . A system as claimed in  claim 1 , further comprising an automatic caller response system and/or Internet access to said data by said payee and/or said payor.  
     
     
         10 . A system as claimed in  claim 1 , wherein said system is adapted to transmit or initiate transfer of notification to said payee of said payment by said payor via facsimile, email, and/or custom electronic procedure.  
     
     
         11 . A system as claimed in  claim 1 , wherein said payment is made by cash, check, debit card or credit card; and wherein said predetermined amount of funds transmitted or transferred to said payee is not dependent on whether payment is made by cash, check, debit card or credit card.  
     
     
         12 . A system as claimed in  claim 1 , wherein said payee further comprises accounting software, wherein said system is adapted to transmit or initiate transfer of said data to said payee via said accounting software.  
     
     
         13 : A bill payment method comprising: 
 transmitting or transferring to at least one payor a unique bar code comprising data identifying at least said payee and said payor; and    permitting a third party to scan a printed representation of said bar code and, based on the identifying information of said bar code and a payment made by said payor, to transmit funds or initiate a funds transfer to said payee in a predetermined amount and transmit data or initiate a data transfer to said payee regarding said payment.    
     
     
         14 . A method as claimed in  claim 13 , wherein said transmission or transfer of funds is an electronic funds transfer or via the Automated Clearing House.  
     
     
         15 . A method as claimed in  claim 13 , further comprising printing a receipt evidencing said payment.  
     
     
         16 . A method as claimed in  claim 13 , wherein said bar code comprises a plurality of validation levels.  
     
     
         17 . A method as claimed in  claim 13 , wherein said data comprises the date and time said payor makes said payment.  
     
     
         18 . A method as claimed in  claim 13 , wherein said third party scanning and/or transmitting or transferring funds and data is performed via an apparatus integrated into a point-of-sale system.  
     
     
         19 . A method as claimed in  claim 13 , wherein said third party is in a location selected from the group consisting of: grocery store, convenience store, supermarket, chain store, post office, drug store, government office, location where goods are sold, location where services are sold, bank, and retail store.  
     
     
         20 . A method as claimed in  claim 13 , wherein said step of transmitting or transferring said bar code to said payor occurs by at least one method selected from the group consisting of: via facsimile transmission to or from a computer, via facsimile machine, via email, via file transfer protocol (FTP), via hypertext markup language (HTML), via extended markup language (XML), via hypertext transport protocol (HTTP), via modem, via the Internet, via a wide-area network (WAN), via a local-area network (LAN), via diskette, and via removable storage medium.  
     
     
         21 . A method as claimed in  claim 13 , further comprising permitting access to said data by said payee and/or said payor via an automatic caller response system and/or the Internet.  
     
     
         22 . A method as claimed in  claim 13 , wherein said system is adapted to transmit or initiate transfer of notification to said payee of said payment by said payor via facsimile, email, and/or custom electronic procedure.  
     
     
         23 . A method as claimed in  claim 13 , wherein said payment is made by cash, check, debit card or credit card; and wherein said predetermined amount of funds transmitted or transferred to said payee is not dependent on whether payment is made by cash, check, debit card or credit card.  
     
     
         24 . A method as claimed in  claim 13 , wherein said payee further comprises accounting software, wherein said step of transmitting or transferring said data to said payee occurs via said accounting software.  
     
     
         25 . A money transfer system comprising: 
 a printed bar code comprising data identifying at least an account number corresponding to an account to which a deposit can be made and a destination payment network corresponding to said account; and    a scanning apparatus configured to scan said bar code, said scanning apparatus being capable, based on information stored in said bar code and a payment made by a payor, of transmitting funds or initiating a funds transfer in a predetermined amount to said account.    
     
     
         26 . A money transfer system as claimed in  claim 25 , wherein said apparatus is further capable of transmitting data or initiating a data transfer to a payee regarding said payment.  
     
     
         27 . A money transfer system as claimed in  claim 25 , wherein said destination payment network comprises a plurality of organizations having a common account numbering scheme.  
     
     
         28 . A money transfer system as claimed in  claim 27 , wherein at least one said organization is identified in said bar code by an American Bankers Association (ABA) number.  
     
     
         29 . A money transfer system as claimed in  claim 25 , wherein said printed bar code is printed on at least one medium selected from the group consisting of: deposit slip, debit card, credit card, bank card, affinity card, smart card, card bearing a magnetic stripe, card bearing at least one name corresponding to said account number, identification card, plastic or paper card, or sheet of paper.  
     
     
         30 . A money transfer system as claimed in  claim 25 , wherein said funds are transmitted or transferred as an electronic funds transfer or via the Automated Clearing House.  
     
     
         31 . A money transfer system as claimed in  claim 25 , wherein said apparatus is adapted to print a receipt evidencing said payment.  
     
     
         32 . A money transfer system as claimed in  claim 25 , wherein said bar code comprises a plurality of validation levels.  
     
     
         33 . A money transfer system as claimed in  claim 26 , wherein said data comprises the date and time said payor makes said payment.  
     
     
         34 . A money transfer system as claimed in  claim 25 , wherein said apparatus is integrated into a point-of-sale system.  
     
     
         35 . A money transfer system as claimed in  claim 25 , wherein said apparatus is in a location selected from the group consisting of: grocery store, convenience store, supermarket, chain store, post office, drug store, government office, location where goods are sold, location where services are sold, bank, and retail store.  
     
     
         36 . A money transfer system as claimed in  claim 25 , wherein said payor receives said bar code by at least one method selected from the group consisting of: via facsimile transmission to or from a computer, via facsimile machine, via email, via file transfer protocol (FTP), via hypertext markup language (HTML), via extended markup language (XML), via hypertext transport protocol (HTTP), via modem, via the Internet, via a wide-area network (WAN), via a local-area network (LAN), via diskette, and via removable storage medium.  
     
     
         37 . A money transfer system as claimed in  claim 26 , further comprising an automatic caller response system and/or Internet access to said data by said payee and/or said payor.  
     
     
         38 . A money transfer system as claimed in  claim 25 , wherein said system is adapted to transmit or initiate transfer of notification to a payee of said payment by said payor via facsimile, email, and/or custom electronic procedure.  
     
     
         39 . A money transfer system as claimed in  claim 25 , wherein said payment is made by cash, check, debit card or credit card; and wherein said predetermined amount of funds transmitted or transferred to the account corresponding to said account number is not dependent on whether payment is made by cash, check, debit card or credit card.  
     
     
         40 . A money transfer system as claimed in  claim 26 , further comprising accounting software, wherein said system is adapted to transmit or initiate transfer of said data to said payee via said accounting software.  
     
     
         41 . A method of transferring money, said method comprising: 
 scanning a printed bar code comprising data identifying at least an account number corresponding to an account to which a deposit can be made and a destination payment network corresponding to said account; and    transmitting finds or initiating a funds transfer, based on information stored in said bar code and a payment made by a payor, in a predetermined amount to said account.    
     
     
         42 . A method as claimed in  claim 41 , further comprising transmitting data or initiating a data transfer to a payee regarding said payment.  
     
     
         43 . A method as claimed in  claim 41 , wherein said destination payment network comprises a plurality of organizations having a common account numbering scheme.  
     
     
         44 . A method as claimed in  claim 43 , wherein at least one said organization is identified in said bar code by an American Bankers Association (ABA) number.  
     
     
         45 . A method as claimed in  claim 41 , wherein said printed bar code is printed on at least one medium selected from the group consisting of: deposit slip, debit card, credit card, bank card, affinity card, smart card, card bearing a magnetic stripe, card bearing at least one name corresponding to said account number, identification card, plastic or paper card, or sheet of paper.  
     
     
         46 . A method as claimed in  claim 41 , wherein said funds are transmitted or transferred as an electronic funds transfer or via the Automated Clearing House.  
     
     
         47 . A method as claimed in  claim 41 , further comprising printing a receipt evidencing said payment.  
     
     
         48 . A method as claimed in  claim 41 , wherein said bar code comprises a plurality of validation levels.  
     
     
         49 . A method as claimed in  claim 42 , wherein said data comprises the date and time said payor makes said payment.  
     
     
         50 . A method as claimed in  claim 41 , wherein said apparatus is integrated into a point-of-sale system.  
     
     
         51 . A method as claimed in  claim 41 , wherein said apparatus is in a location selected from the group consisting of: grocery store, convenience store, supermarket, chain store, post office, drug store, government office, location where goods are sold, location where services are sold, bank, and retail store.  
     
     
         52 . A method as claimed in  claim 41 , wherein said payor receives said bar code by at least one method selected from the group consisting of: via facsimile transmission to or from a computer, via facsimile machine, via email, via file transfer protocol (FTP), via hypertext markup language (HTML), via extended markup language (XML), via hypertext transport protocol (HTTP), via modem, via the Internet, via a wide-area network (WAN), via a local-area network (LAN), via diskette, and via removable storage medium.  
     
     
         53 . A method as claimed in  claim 42 , further comprising providing an automatic caller response system and/or Internet access to said data for use by said payee and/or said payor.  
     
     
         54 . A method as claimed in  claim 41 , further comprising transmitting or initiating transfer of notification to a payee of said payment by said payor via facsimile, email, and/or custom electronic procedure.  
     
     
         55 . A method as claimed in  claim 41 , wherein said payment is made by cash, check, debit card or credit card; and wherein said predetermined amount of funds transmitted or transferred to the account corresponding to said account number is not dependent on whether payment is made by cash, check, debit card or credit card.  
     
     
         56 . A method as claimed in  claim 42 , further comprising transmitting or initiating a transfer of said data to said payee via accounting software.  
     
     
         57 . A deposit slip comprising: 
 a printed account number; and    a unique bar code comprising data identifying at least said account number and a destination payment network corresponding to said account number.    
     
     
         58 . A deposit slip as claimed in  claim 57 , wherein said bar code comprises a plurality of validation levels.  
     
     
         59 . A printed bar code comprising: 
 data identifying at least an account number and a destination payment network corresponding to said account number.    
     
     
         60 . A printed bar code as claimed in  claim 59 , wherein said bar code comprises a plurality of validation levels.  
     
     
         61 . A method for performing an Internet financial transaction, said method comprising: 
 transmitting or transferring to a payor a unique bar code comprising data identifying at least a payee and a destination payment network corresponding to said payee.    
     
     
         62 . A method as claimed in claim  61 , wherein said bar code is transmitted or transferred to said payor by at least one method selected from the group consisting of: via facsimile transmission to or from a computer, via facsimile machine, via email, via file transfer protocol (FTP), via hypertext markup language (HTML), via extended markup language (XML), via hypertext transport protocol (HTTP), via modem, via the Internet, via a wide-area network (WAN), via a local-area network (LAN), via diskette, and via removable storage medium.  
     
     
         63 . A method of providing for payment from a payor to a payee, comprising: 
 making available to one or more payees a standard format for representing on a printed document data including at least a payee and a destination payment network corresponding to said payee;    providing at one or more locations of one or more third parties one or more scanning apparatus adapted to read data in said standard format;    receiving by electronic transmission data comprising said destination payment network identification, payee identification and payment amount; and    providing information to said destination payment network to effect transmission of funds to an account of said payee in an amount identified by said payment amount and concurrently effecting or initiating transmission of payment information to said payee.    
     
     
         64 . A method as claimed in claim  63 , wherein said payment information comprises the date and time said payment is made.