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Electronic Checks

Electronic Checks

Electronic checks are another from of electronic tokens.They are designed to accommodate the many individuals and entities that might prefer to pay on credit or through some mechanism other than cash.These checks may be sent using e-mail  or other transport methods .When deposited,the check authorizes the transfer of account balances from the account against which the check was drawn to the account to which the check was deposited.

The specifics of the technology work in the following manner:On receiving the check, the seller presents it to the accounting sever for verification and payment.The accounting server verifies the digital signature on the check.Subsequent endorsers add successive layers of information onto the tickets, precisely as a large number of bank may wind up stamping the back of a check along its journey through the system.  
 
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