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A system and method for facilitating financial transactions between a payer and a payee

A technology for payees and payers, applied in the field of promoting electronic check transmission between payers and payees, which can solve problems such as improper and fraudulent electronic copy management

Active Publication Date: 2021-10-01
HONG KONG R&D CENT FOR LOGISTICS & SUPPLY CHAIN MANAGEMENT ENABLING TECH
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  • Summary
  • Abstract
  • Description
  • Claims
  • Application Information

AI Technical Summary

Problems solved by technology

On the other hand, due to the possible presence of electronic copies of electronic checks, mismanagement of electronic copies can lead to fraud

Method used

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  • A system and method for facilitating financial transactions between a payer and a payee
  • A system and method for facilitating financial transactions between a payer and a payee
  • A system and method for facilitating financial transactions between a payer and a payee

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Experimental program
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Embodiment Construction

[0086] refer to figure 1 , shows an embodiment of the invention. The embodiment is configured to provide a system for facilitating financial transactions between a payer and a payee comprising:

[0087] - a gateway configured to receive from the payer the electronic financial instrument encrypted by the first key; and

[0088] - a processing module configured to re-encrypt the electronic financial instrument to allow the re-encrypted electronic financial instrument to be accessible by the payee.

[0089] In this embodiment, the processing module and / or the controller module are adapted to be implemented or operated by a computer with a suitable user interface. A computer can be implemented by any computing architecture, including a standalone PC, a client / server architecture, a dumb terminal / mainframe architecture, or any other suitable architecture. Computing devices are suitably programmed to implement the invention.

[0090] refer to figure 1 , according to an embodime...

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PUM

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Abstract

The present invention discloses a system and method for facilitating a financial transaction between a payer and a payee comprising the steps of: receiving from the payer an electronic financial instrument encrypted by a first key, re-encrypting the electronic financial instrument so that Allowing the re-encrypted electronic financial instrument to be accessible by the payee upon decryption of the re-encrypted electronic financial instrument by the second key, and re-encrypting the electronic financial instrument to permit decryption of the re-encrypted electronic financial instrument by the third key , the re-encrypted electronic financial instrument is accessible by the payee financial order processor.

Description

technical field [0001] The present invention relates to a system and method for facilitating financial transactions between a payer and a payee, and in particular, though not exclusively, to facilitating electronic check transmissions between a payer and a payee via a secure electronic check box system systems and methods. Background technique [0002] Checks are often used as a financial instrument to facilitate the instruction of financial transactions between two parties. The check can include the payer's transaction account information, the payee's name added by the payer, the transaction amount, and the transaction date, and the check can only be used if the payer has signed it. When the payee presents a valid check to the clearing house, the payee can debit the amount from the payer's transaction account. [0003] Checks may be in paper or electronic form. Paper checks are unique and no copies are possible. Electronic checks are more environmentally friendly and pr...

Claims

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Application Information

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Patent Type & Authority Patents(China)
IPC IPC(8): G06Q40/02
CPCG06Q20/0425G06Q20/3829
Inventor 何毅俊岑松德许志光邹锦沛
Owner HONG KONG R&D CENT FOR LOGISTICS & SUPPLY CHAIN MANAGEMENT ENABLING TECH