VALID Systems Claims New Check Cashing Patent

Published May 07, 2009, 7:33 p.m. EDT

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Updated August 27, 2020, 12:41 a.m. EDT

1 Min Read

FORT WORTH, Texas – VALID Systems reported yesterday it has been issued a new patent for check cashing innovation.

Processing Content

The patent covers VALID’s process that enables business to safely cash checks for non-account holders. The proprietary engine includes information gathering, risk assessment and transaction processing and is currently deployed in top banks, financial services companies and retailers across the country. The system applies thousands of risk rules against every transaction instantaneously.

VALID markets an Internet-based decisionmaking system for check cashing to financial institutions and retailers.

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