From: frissell@panix.com (Duncan Frissell)
Date: Wed, 20 Jul 94 20:23:25 PDT
To: cypherpunks@toad.com
Subject: Re: Voice/Fax Checks
Message-ID: <199407210323.AA23357@panix.com>
MIME-Version: 1.0
Content-Type: text/plain


At 09:19 AM 7/20/94 UTC, j.hastings6@genie.geis.com wrote:

>"Attention Businesses...Accept Personal and Business Checks Over The
>Telephone (or by fax) for Your Orders, Payments, Collections and
>Donations!"
> 
>If you want more details about this, drop me a note. I have no
>other connection with the company besides the fax from a sales guy,
>so far. Does anyone out there know something about this concept?
>Could this be useful for a digital cash bank interface?

Say that you're selling something and someone says "I'll mail you a check
today."  This lets you say:

"Don't bother.  Take out the check you were going to send me, read me the
routing code and check number on the bottom.  Give me your name and address
and the bank's name and address as they appear on the check, the amount you
will pay and the date.  I'll collect that check electronically without you
having to bother to send it."

They reconstruct the check as an electronic payment order and submit it.  Works.
Even easier if they have a fax of the check.

DCF

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