Method and apparatus for preparing and assessing payment...

Details Method and apparatus for preparing and assessing payment... Method and apparatus for preparing and assessing payment...

G - Physics

07

D

354/40

G07D 7/00 (2006.01) G07F 1/06 (2006.01)

Patent

CA 1060995

A B S T R A C T A method and apparatus is described for preparing and assessing machine readable payment documents such as bank or postal cheques to avoid fraud. The cheques are prepared by digitizing the serial number and the amount for which the cheque is made out with secret code data to provide a crypto number which is printed on the cheque with the serial number and the amount. The cheque is assessed as valid by reading out the printed data and digitizing the amount and serial number with the same secret code data as used when preparing the cheque to provide a crypto number which is compared with the crypto number read from the cheque. If the two crypto numbers are the same the cheque is assessed as valid. The crypto number can be derived from additional data such as the credit card number of the person making out the cheque, the time and date and the number of the machine preparing the document.

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