System and method for producing and verifying secure negotiable instruments
The present invention relates to producing and presenting negotiable instruments and, more specifically, to printing and presenting checks, which are resistant to forgery or fraud. The negotiable instrument comprises a numeric sequence printed in MICR font upside down across the top face of the negotiable instrument for electronic reading by a MICR reader. The numeric sequence provides for authentication of the payee name and the payment amount by a secure authentication server.
1. A method of printing a negotiable instrument, the method comprising: printing a payee name printed on the negotiable instrument;
printing a payment amount printed on the negotiable instrument;
printing a first line of MICR characters printed across the bottom of the negotiable instrument comprising a routing number and an account number;
printing a second line of MICR characters printed across the top of the negotiable instrument in an inverted relationship to the first line of MICR characters, the second line of MICR characters comprising a numeric sequence selected from the group consisting of:
a numeric sequence representing the result of operating a hash function on at least a portion of the payee name and the payment amount;
a numeric sequence representing an encrypted representation of at least a portion of the payee name and the payment amount; and
a numeric sequence representing a compressed representation of at least a portion of the payee name and the payment amount.
2. The negotiable instrument of claim 1 , wherein:
the numeric sequence represents the result of operating a hash function on at least a portion of the payee name and the payment amount; and
the result of operating a hash function on at least a portion of the payee name and the payment amount consists of a hashed number representing the result of operating a hash function on a truncated portion of the payee name and the payment amount.
3. The negotiable instrument of claim 2 , wherein the numeric sequence further represents:
a compressed representation of the truncated portion of the payee name and the payment amount.
4. The negotiable instrument of claim 3 , wherein the compressed representation of the truncated portion of payee name consists of a limited character set payee name resulting from mapping each character of the truncated portion to a limited character set.
5. The negotiable instrument of claim 4 , further comprising an identification of an authentication server printed on the negotiable instrument, whereby alteration of the payee name and the payment amount printed on the negotiable instrument may be detected by:
reporting the compressed representation of the truncated portion of the payee name and the payment amount to the authentication server which operates the hash function to calculate a second hashed number; and
comparing the hashed number with the second hashed number.
6. The negotiable instrument of claim 1 , wherein
the numeric sequence represents an encrypted representation of at least a portion of the payee name and the payment amount; and
and wherein the encrypted representation of at least a portion of the payee name and the payment amount comprises an encrypted representation of a compressed representation of the payee name.
7. The negotiable instrument of claim 6 , wherein the compressed representation of the payee name consists of a truncated portion of the payee name.
8. The negotiable instrument of claim 7 , wherein the compressed representation of the payee name consists of a limited character set payee name resulting from mapping each character of the truncated payee name to a limited character set.
9. The negotiable instrument of claim 8 , further comprising an identification of an authentication server printed on the negotiable instrument, whereby alteration of the payee name and the payment amount printed on the negotiable instrument may be detected by:
reporting the numeric sequence to the authentication server which deciphers the numeric sequence to yield the at least a portion of the payee name and the payment amount; and
comparing the deciphered at least a portion of the payee name and the payment amount to the payee name and payment amount printed on the negotiable instrument.
10. The negotiable instrument of claim 1 , wherein:
the numeric sequence represents a compressed representation of at least a portion of the payee name and the payment amount; and
the compressed representation of at least a portion of the payee name consists of a truncated portion of the payee name.
11. The negotiable instrument of claim 10 , wherein the compressed representation of at least a portion of the payee name consists of a limited character set payee name resulting from mapping each character of the truncated portion of the payee name to a limited character set.
12. The negotiable instrument of claim 11 , further comprising an identification of an authentication server printed on the negotiable instrument, whereby alteration of the payee name and the payment amount printed on the negotiable instrument may be detected by:
identifying the negotiable instrument to the authentication server;
comparing the authenticated payee name and payment amount from a database to the payee name and payment amount printed on the negotiable instrument.
13. A method of printing a negotiable instrument the method comprising:
printing a payee name on the negotiable instrument; printing a payment amount on the negotiable instrument; printing a numeric sequence on the negotiable instrument, the numeric sequence comprising a hashed number representing the result of operating a hash function on at least a portion of the payee name and the payment amount; printing an identification of an authentication server on the negotiable instrument whereby alteration of the payee name and the payment amount printed on the negotiable instrument may be detected by: recording least a portion of the payee name and the payee amount printed on the negotiable instrument to the authentication server which operates the hash function to calculate a second hashed number; and comparing the hashed number with the second hashed number; wherein: the hashed number represents result of operating a hash function a truncated portion of the payee name and the payment amount: and the numeric sequence further comprises a representation of the truncated portion of the payee name and the payment amount.
14. The negotiable instrument of claim 13 , wherein the numeric sequence is a machine readable number printed in MICR characters and MICR ink in a MICR zone across the top of the negotiable instrument in an inverted relationship to a routing number and an account number printed in MICR characters and MICR ink in a MICR zone across the bottom of the negotiable instrument.
15. A method of printing a negotiable instrument the method comprising:
printing a payee name on the negotiable instrument;
printing a payment amount on the negotiable instrument;
printing a numeric sequence on the negotiable instrument, the numeric sequence comprising an encrypted number representing the result of operating an encryption function on at least a portion of the payee name and the payment amount; printing an identification of an authentication server, that deciphers the encrypted number on the negotiable instrument whereby alteration of the payee name and the payment amount printed on the negotiable instrument may be detected by:
reporting the encrypted number to the authentication server which recovers the at least a portion of the payee name and the payment amount; and
comparing the at least a portion of the payee name and payment amount recovered by the authentication server with the payee name and the payee amount on the negotiable instrument;
wherein: the encrypted number represents result of operating the encryption function on a truncated portion of the payee name and the payment amount; and
the numeric sequence is a machine readable number printed in MICR characters and MICR ink in a MICR zone across the top of the negotiable instrument in an inverted relationship to a routing number and an account number printed in MICR characters and MICR ink in a MICR zone across the bottom of the negotiable instrument.
16. A method of printing a negotiable instrument the method comprising:
printing a Payee name on the negotiable instrument;
printing a payment amount on the negotiable instrument;
printing a numeric sequence on the negotiable instrument, the numeric sequence comprising a compressed number representing the result of operating a compression function on at least a portion of the payee name and the Payment amount;
printing an identification of an authentication server, that stores an authenticated payee name and an authenticated amount, printed on the negotiable instrument whereby alteration of the payee name and the payment amount printed on the negotiable instrument may be detected by:
identifying the negotiable instrument to the authentication server; and
comparing the authenticated payee name and the authenticated amount to the payee name and the payee amount on the negotiable instrument wherein: the compressed number represents result of operating the encryption function on a truncated portion of the payee name and the payment amount; and
the numeric sequence is a machine readable number printed in MICR characters and MICR ink in a MICR zone across the top of the negotiable instrument in an inverted relationship to a routing number and an account number printed in MICR characters and MICR ink in a MICR zone across the bottom of the negotiable instrument.