US 5,717,868 A
Electronic payment interchange concentratorGeneral
US 5,717,868 A
Electronic payment interchange concentrator
Tech Center:
2800 Semiconductors/Memory, Circuits/Measuring and Testing, Optics/Photocopying, Printing/Measuring and Testing
Examiner:
James P. Trammell
Art Unit:
2857 Printing/Measuring and Testing
Inventors:
DAVID L. JAMES
Assignee:
Priority:
03/07/95
Filed:
03/07/95
Granted:
02/10/98
Expiration:
03/07/15
Abstract
An apparatus, system and process for effecting one or more of the reception, transmission, translation and storage of data files containing information relating to financial instruments among and between multiple institutions wherein a data file in a first file format is received from an originating institution, the file is translated into a second data file format selected by an institution that is to receive the information, the information is stored in memory which is uniquely accessible to the receiving institution and transmitted to the receiving institution. Information derived from the financial instrument information contained in the second data file format may be transmitted to a settlement mechanism. The transmission to the receiving institution and to a settlement mechanism may occur on demand, based on instructions by the originating institution and within a prearranged time period.