ELECTRONIC PAYMENT AND AUTHENTICATION SYSTEM WITH DEBIT AND IDENTIFICATION DATA VERIFICATION AND ELECTRONIC CHECK CAPABILITIES
An electronic payment and authentication system that includes features to verify the authenticity of a payer, validate debit data, and facilitate debit (as opposed to credit) payment transactions. The electronic payment system allows a consumer to purchase items and services via a network while utilizing a debit transaction. The invention provides merchants with the ability to verify the identity of the consumer, determine if the consumer is a good debit transaction risk, and retrieve debit data associated with a particular consumer.
1 - 76 . (canceled)
77 . A computer-implemented method, implemented by at least one hardware processor, comprising:
receiving, by an electronic processing system from a user terminal, a transaction request including requester data comprising a first field and a second field;
initiating a first search and a second search based on the requester data, wherein
the first search includes querying a user information database, and
the second search includes querying a formatting database;
determining, based on results from the first search, correspondence between the first field and the second field;
analyzing, based on results of the second search, a format associated with at least one of the first field and the second field to determine whether data matches a required data format;
generating, based on the determined correspondence and the analyzed format, a score indicating a validity of the requester data; and
initiating, based on the score, an instruction to process the transaction request.
78 . The method of claim 77 , wherein the first field includes a name.
79 . The method of claim 78 , wherein the second field includes at least one of: an address, a date of birth, a telephone number, a driver's license number, a social security number, or a magnetic ink character recognition number.
80 . The method of claim 77 ,
further comprising: receiving, in response to the first search, a key profile; and
wherein determining, based on results from the first search, correspondence between the first field and the second field comprises:
determining that the first field and the second field match corresponding fields of the key profile.
81 . The method of claim 80 , further comprising: performing a fuzzy match algorithm with the key profile to determine that the first field corresponds to the second field.
82 . The method of claim 77 , further comprising: receiving, in response to the second search, the required data format.
83 . The method of claim 82 , wherein
at least one of the first field and the second field is a telephone number, and
the required data format includes a format associated with a list of valid area codes for the telephone number.
84 . The method of claim 77 ,
wherein at least one of the first field and the second field includes a street address; and
further comprising: receiving, in response to the second search, an indication that the street address corresponds to a residential building.
85 . The method of claim 77 ,
wherein the first field includes a telephone number and the second field includes a ZIP code; and
further comprising: receiving, in response to the second search, an indication that the ZIP code corresponds to an area code of the telephone number.
86 . The method of claim 77 , wherein generating the score comprises: weighting the determined correspondence and the analyzed format based on a likelihood of fraud.
87 . The method of claim 77 , wherein transmitting the instruction to process the transaction request is further based on a threshold score of a party involved in the transaction request.
88 . An electronic processing system comprising:
at least one memory device storing instructions; and
at least one process that executes the instructions to perform operations comprising:
receiving, from a user terminal, a transaction request including requester data comprising a first field and a second field;
initiating a first search and a second search based on the requester data, wherein
the first search includes querying a user information database, and
the second search includes querying a formatting database;
determining, based on results from the first search, correspondence between the first field and the second field;
analyzing, based on results of the second search, a format associated with at least one of the first field and the second field to determine whether data matches a required data format;
generating, based on the determined correspondence and the analyzed format, a score indicating a validity of the requester data; and
initiating, based on the score, an instruction to process the transaction request.
89 . The system of claim 88 , wherein the first field includes a name.
90 . The system of claim 89 , wherein the second field includes at least one of: an address, a date of birth, a telephone number, a driver's license number, a social security number, or a magnetic ink character recognition number.
91 . The system of claim 88 , wherein
the operations further comprise: receiving, in response to the first search, a key profile; and
determining, based on results from the first search, correspondence between the first field and the second field comprises:
determining that the first field and the second field match corresponding fields of the key profile.
92 . The system of claim 91 , the operations further comprising: performing a fuzzy match algorithm with the key profile to determine that the first field corresponds to the second field.
93 . The system of claim 88 , the operations further comprising: receiving, in response to the second search, the required data format.
94 . The system of claim 93 , wherein
at least one of the first field and the second field is a telephone number, and
the required data format includes a format associated with a list of valid area codes for the telephone number.
95 . The system of claim 88 , wherein
at least one of the first field and the second field includes a street address; and
the operations further comprise: receiving, in response to the second search, an indication that the street address corresponds to a residential building.
96 . A non-transitory computer-readable medium storing instructions that, when executed by at least one processor, cause the processor to perform a method comprising:
receiving, by an electronic processing system from a user terminal, a transaction request including requester data comprising a first field and a second field;
initiating a first search and a second search based on the requester data, wherein
the first search includes querying a user information database, and
the second search includes querying a formatting database;
determining, based on results from the first search, correspondence between the first field and the second field;
analyzing, based on results of the second search, a format associated with at least one of the first field and the second field to determine whether data matches a required data format;
generating, based on the determined correspondence and the analyzed format, a score indicating a validity of the requester data; and
initiating, based on the score, an instruction to process the transaction request.