Web based system and method for managing business to business online transactions

• US 20020120537A1
• Filed: 02/28/2001
• Published: 08/29/2002
• Est. Priority Date: 02/28/2001
• Status: Abandoned Application

• Current Assignee: Velosant LP
• Original Assignee: Velosant LP
• Inventors: Talwar, Keshav, Campbell, Julia, Morea, Dominic, Zirkel, George S.
• Application Number:
  US09/795,958
• Publication Number:
  US 20020120537A1
• Time in Patent Office: Days
• US Class Current: 705/35
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes

Abstract

A Business to Business (B2B) online registration method to manage transactions over the Internet is disclosed. The B2B system implements the online registration method utilizing a web-enabled interactive database to automate the processing of online registrations of buyers and sellers, verifying credits of the buyers and sellers, generating online account numbers for transactions processing, finalizing the procedural details to manage the transactions between willing buyers and sellers over the Internet and tracking/reporting status of the transactional details as necessary to effectively manage the business.

Claims

1. A method for online registration of buyers and sellers to participate in an e-commerce marketplace, using a web-based system including a server system coupled to a centralized interactive database and at least one client system, said method comprising the steps of:

receiving user information into a centralized database;

storing the user information in the centralized database to create a user profile and cross-referencing the user profile against a unique identifier for easy retrieval and update;

approving the users for online transactions; and

retrieving the user profile from the centralized database in response to an inquiry to facilitate electronic payments online for products or services sold as part of online transactions.

2. A method according to claim 1 wherein said step of receiving user information further comprises the step of receiving information on buyers and sellers into various sub-sections of the database.

3. A method according to claim 2 wherein said step of receiving information on buyers and sellers further comprises the step of receiving buyer information including at least one of a Business name, a Business Legal Name, a Business address including a City, a State, and a Zip Code, a Name of an Authorized Signer, a Title of the Authorized Signer, a Business Phone Number, a Business Fax Number, an “

Attention to”

identifying where the communication must be send to, an Email address, an URL address, a Domain Name, a State of Incorporation, a Date of Incorporation, a Number of Employees, Product being Sold or Marketed, Location of the Business and It'"'"'s Various Divisions, a Total Annual Sales of Business, an Estimated Annual Credit Card Purchases, an Expected Average Credit Card Transaction, a Sales Tax Rate, a Percentage of Credit Card Purchases for Products, a Percentage of Credit Card Purchases for Services, a Method of Advertising, and information whether the party registering currently using the credit card as a preferred method of payment, and other related information.

4. A method according to claim 2 wherein said step of receiving information on buyers and sellers further comprises the step of receiving seller information including at least one of a Business name, a Business Legal Name, a Business address including a City, a State, and a Zip Code, a Name of an Authorized Signer, a Title of the Authorized Signer, a Business Phone Number, a Business Fax Number, an “

Attention to”

identifying where the communication must be send to, an Email address, an URL address, a Domain Name, a State of Incorporation, a Date of Incorporation, a Number of Employees, Product being Sold or Marketed, Location of the Business and It'"'"'s Various Divisions, a Total Annual Sales of Business, an Estimated Annual Credit Card Sales, an Expected Average Credit Card Transaction, a Sales Tax Rate, a Refund policy, a Percentage of Credit Card Sales for Products, a Percentage of Credit Card Sales for Services, a Method of Advertising, and information whether the party registering currently using the credit card as a preferred acceptance mode of payment.

5. A method according to claim 1 wherein said step of storing the user information further comprises the steps of:

storing buyer information including at least one of a Business name, a Business Legal Name, a Business address including a City, a State, and a Zip Code, a Name of an Authorized Signer, a Title of the Authorized Signer, a Business Phone Number, a Business Fax Number, an “

Attention to”

identifying where the communication must be send to, an Email address, an URL address, a Domain Name, a State of Incorporation, a Date of Incorporation, a Number of Employees, Product being Sold or Marketed, Location of the Business and It'"'"'s Various Divisions, a Total Annual Sales of Business, an Estimated Annual Credit Card Purchases, an Expected Average Credit Card Transaction, a Sales Tax Rate, a Percentage of Credit Card Purchases for Products, a Percentage of Credit Card Purchases for Services, a Method of Advertising, and information whether the party registering currently using the credit card as a preferred method of payment, and other related information; and

storing seller information including at least one of a Business name, a Business Legal Name, a Business address including a City, a State, and a Zip Code, a Name of an Authorized Signer, a Title of the Authorized Signer, a Business Phone Number, a Business Fax Number, an “

Attention to”

identifying where the communication must be send to, an Email address, an URL address, a Domain Name, a State of Incorporation, a Date of Incorporation, a Number of Employees, Product being Sold or Marketed, Location of the Business and It'"'"'s Various Divisions, a Total Annual Sales of Business, an Estimated Annual Credit Card Sales, an Expected Average Credit Card Transaction, a Sales Tax Rate, a Refund policy, a Percentage of Credit Card Sales for Products, a Percentage of Credit Card Sales for Services, a Method of Advertising, and information whether the party registering currently using the credit card as a preferred acceptance mode of payment.

6. A method according to claim 5 wherein said step of storing the user information further comprises the step of updating information comprising adding, deleting, and editing the transactions and transactions related information.

7. A method according to claim 6 wherein said step of updating the user information into the centralized database further comprises the step of entering the user information online.

8. A method according to claim 6 wherein said step of updating the user information further comprises the step of entering information at least through one of a voice activation command and a device connected to the client system.

9. A method according to claim 1 wherein said step of storing the user information further comprises the steps of:

tracking the user information on a real time basis; and

storing the user information on a real time basis by updating stored information by adding the new information to the centralized database on a real time basis to provide up-to-date deal information instantaneously to the user upon a request.

10. A method according to claim 1 wherein said step of approving the users for online transactions further comprises the step of investigating credit rating of the users by utilizing at least one of a domestic and International bureau interfaces that provide personal and commercial credit information, external service organization to assist in credit review process, US Government Edgar reports, Better Business Bureau reports, industry specific score cards, systematic inquiries to positive and negative database files, verification of business references, Performing detailed Risk Assessment Analysis, Create credit rating, Create Business rating, and Account queuing.

11. A method according to claim 10 wherein said step of step of investigating credit rating of the users further comprises the step of conducting in-depth credit officer review and evaluation.

12. A method according to claim 1 wherein said step of investigating credit rating of the users further comprises the steps of:

making credit decisions; and

notification of credit decisions.

13. A method according to claim 12 wherein said step of investigating credit rating of the users further comprises the steps of:

evaluating certification authentication requirements; and

issuing digital certificate after authenticity.

14. A method according to claim 13 wherein said step of evaluating certification authentication requirements further comprises the steps of:

receiving a Letter of Authorization on company letterhead;

confirming Articles of Incorporation to verify the company'"'"'s registration status;

confirming ownership of domain names in the United States and Foreign Countries;

confirming employment of technical contact via email; and

confirming employment of a designated Super Administration User.

15. A method according to claim 1 wherein said step of approving the users for online transactions further comprises the step of providing credit approval of all payments from a buyer to a seller with instant credit decision and a certificate issuance.

16. A method according to claim 1 wherein said step of approving the users for online transactions further comprises the step of generating an account number for at least one of a buyer and a seller.

17. A method according to claim 1 wherein said method further allows buyers and sellers access to various payment options without having to take the transaction off-line.

18. A method according to claim 1 wherein said method further allows buyers and sellers access to operate in a trusted environment integrated into business to business marketplace to access a cash register over the Internet to initiate the transaction.

19. A method according to claim 1 wherein said method further allows buyers and sellers access to operate in a trusted environment integrated into business to business marketplace to access a cash register over the Internet to complete the transaction.

20. A method according to claim 1 wherein said step of retrieving the user profile information further comprises the step of printing requested information in a pre-determined format.

21. A method according to claim 1 wherein said step of retrieving the user profile information further comprises the step of providing the user profile information to at least one of a buyer and a seller depending on where the request originated from.

22. A method according to claim 1 wherein said step of retrieving the user profile information further comprises the step of receiving an inquiry from the client system, said step of receiving an inquiry further includes the step of submitting a request through at least one of pull down menus, check boxes, and hypertext links.

23. The method according to claim 23 further includes the step of displaying an HTML document downloaded by the server system.

24. A method according to claim 1 wherein said step of retrieving the user profile information in response to an inquiry further comprises the steps of:

downloading requested information from a server system; and

displaying the requested information on a client system in response to the inquiry.

25. A method according to claim 24 wherein said step of downloading further comprises the steps of:

accessing the centralized database;

searching the database regarding the specific inquiry;

retrieving information from the database; and

transmitting the retrieved information to the client system for display by the client system.

27. The process according to claim 26 wherein said step of approving the users for online transactions further comprises the steps of:

allowing customers an on-line cash register access;

allowing a buyer to enter at least one of a personal credit card and other forms of personal payment information for transmission to the payment processor via a secured gateway for an online transaction; and

transmitting funds electronically as specified by the buyer to the supplier via the Internet to complete the online transaction and retaining an application fee on all credit decision requests.

28. The online process according to claim 27 further comprises the steps of issuing an Internet Commerce Account, activating payment processing, and triggering an issuance of digital authentication certificates via the online.

29. The online process according to claim 28 further capable of collecting demographic information about buyers and sellers.

30. The online process according to claim 29 further comprising the step of providing online help to the user by downloading a user manual on to a client device.

31. The online process according to claim 26 wherein the client system and the server system are connected via a network and wherein the network is one of a wide area network, a local area network, an intranet and the Internet.

26. An online process for buyers and sellers to participate in an e-commerce marketplace after completing the regisatration, using a web-based system including a server system coupled to a centralized interactive database and at least one client system, said method comprising the steps of:

receiving user information into a centralized database; and

approving the users for online transactions.

32. A computer to facilitate an online transaction between a buyer and a seller, said computer programmed to:

receive user information into a centralized database;

store the user information into various sub-sections of the centralized database to create a user profile and cross-reference the user profile against a unique identifier for easy retrieval and update;

approve the users for online transactions;

generate an Internet Commerce Account upon successful completion of credit evaluation of the user; and

provide notification via e-mail to the user.

33. A computer according to claim 32 wherein said users comprise at least one buyer and one seller, willing to enter into a commercial transaction over the Internet, said computer displaying and recording different pricing structures for sellers.

34. A computer according to claim 32 further programmed to serve multiple Net marketplaces.

35. A computer according to claim 32 further programmed to collect information necessary for approval of traditional as well as non-traditional payments.

36. A computer according to claim 32 further programmed to handle payment via utilizing at least one of a credit card, ACH, International Money Transfer, Payment Scheduling, Net Settlement, Financing, Letters of Credit, Lines of Credit, and Authentication of Digital Certificates.

37. A computer according to claim 32 further programmed to provide flexibility to an administrator to make changes to the user information by at least one of adding, modifying and deleting the information.

38. A computer according to claim 32 wherein online transactions comprises at least one of a transaction between a willing buyer and a willing seller, an auction type transaction, a transaction originating from online catalogs, and trading exchanges transaction.

39. A computer according to claim 32 wherein online transactions comprises a reverse auction transaction between a willing seller and a willing buyer.

40. Apparatus for tracking and managing online transactions between willing buyers and willing sellers, said apparatus comprising:

a centralized database, a registration processing component, a digital certificate management component, a transaction processing component, and an administration component, said apparatus further comprising;

means for setting up at least one of a buyer and a seller profile through registration process;

means for maintaining database by adding, deleting and updating information;

means for tracking online transactions according to assigned priorities;

means for generating management reports; and

means for providing flexibility to an administrator to modify user profile information.

41. Apparatus according to claim 40 wherein said means for maintaining database further comprising at means for at least one of changing company profile option, changing payment information option, changing organization structure option, updating users option, changing administrator option, and updating product table option.

42. Apparatus according to claim 40 further comprising:

means for storing buyer information including at least one of a Business name, a Business Legal Name, a Business address including a City, a State, and a Zip Code, a Name of an Authorized Signer, a Title of the Authorized Signer, a Business Phone Number, a Business Fax Number, an “

Attention to”

identifying where the communication must be send to, an Email address, an URL address, a Domain Name, a State of Incorporation, a Date of Incorporation, a Number of Employees, Product being Sold or Marketed, Location of the Business and It'"'"'s Various Divisions, a Total Annual Sales of Business, an Estimated Annual Credit Card Purchases, an Expected Average Credit Card Transaction, a Sales Tax Rate, a Percentage of Credit Card Purchases for Products, a Percentage of Credit Card Purchases for Services, a Method of Advertising, and information whether the party registering currently using the credit card as a preferred method of payment, and other related information; and

means for storing seller information including at least one of a Business name, a Business Legal Name, a Business address including a City, a State, and a Zip Code, a Name of an Authorized Signer, a Title of the Authorized Signer, a Business Phone Number, a Business Fax Number, an “

Attention to”

identifying where the communication must be send to, an Email address, an URL address, a Domain Name, a State of Incorporation, a Date of Incorporation, a Number of Employees, Product being Sold or Marketed, Location of the Business and Its Various Divisions, a Total Annual Sales of Business, an Estimated Annual Credit Card Sales, an Expected Average Credit Card Transaction, a Sales Tax Rate, a Refund policy, a Percentage of Credit Card Sales for Products, a Percentage of Credit Card Sales for Services, a Method of Advertising, and information whether the party registering currently using the credit card as a preferred acceptance mode of payment.

43. Apparatus according to claim 40 wherein said means for tracking online transactions further means for ensuring that goods are delivered to the buyer and payments are received for said goods from the seller and credited to the seller'"'"'s account after pre-determined fee for the online transaction has been deducted.

44. Apparatus according to claim 40 wherein said registration processing component further comprising means for managing at least one of Central Registration Process, Credit Review &

Rating Process, Account Activation Process, and a Digital Certificate Application Process.

45. Apparatus according to claim 40 wherein said client component further comprising means for managing at least one of a Client Profile, Signatory Privileges, multi level Users, Fee Structure, and various Settlement Options.

46. Apparatus according to claim 40 wherein said digital certificate management component further comprising means for handling Digital Certificate Management, SurePay PKI, Issuance of Digital Certificates, Management of Digital Certificates, Authentication of Digital Certificates, and Revocation of Digital Certificates.

47. Apparatus according to claim 40 wherein said transaction processing component further comprising means for managing a Central Integration Toolkit, a Transaction Switch, Transaction messaging, a Payment scheduler, Recurring Payments, Escrow Management, Financing, and Money Transfer.

48. Apparatus according to claim 40 wherein said administration component further comprising means for managing Digital Certificate Administration, Data Import, Data Export, Online Queries, Online Statements, Integrated Billings, and User Profile Administration.

49. Apparatus according to claim 40 wherein said administration component further comprising means for allowing an administrator to import and export data from other commercial software.

50. Apparatus according to claim 49 wherein said administration component further comprising means for permitting the administrator to change the user profile information including the users payment information, company'"'"'s payment information, adding new users, editing user profiles, and deleting inactive users.

51. A web-based system for managing and tracking online transactions among buyers and a sellers, said system comprising:

a client system comprising a browser;

a storage device for storing information; and

a server system configured to be coupled to said client system and said database, said server system further configured to;

receive user information into a centralized database;

store the user information into various sub-sections of the centralized database and cross-reference the user information against an unique identifier for easy retrieval and update;

approve the users for online transactions; and

retrieve the user profile from the centralized database in response to an inquiry to facilitate electronic payments online for products or services sold as part of online transactions.

52. A system according to claim 51 wherein said server system further configured to receive information on buyers as well as sellers into various subsections of the database.

53. A system according to claim 52 wherein said server system further configured to receive buyer information including at least one of a Business name, a Business Legal Name, a Business address including a City, a State, and a Zip Code, a Name of an Authorized Signer, a Title of the Authorized Signer, a Business Phone Number, a Business Fax Number, an “

Attention to”

identifying where the communication must be send to, an Email address, an URL address, a Domain Name, a State of Incorporation, a Date of Incorporation, a Number of Employees, Product being Sold or Marketed, Location of the Business and It'"'"'s Various Divisions, a Total Annual Sales of Business, an Estimated Annual Credit Card Purchases, an Expected Average Credit Card Transaction, a Sales Tax Rate, a Percentage of Credit Card Purchases for Products, a Percentage of Credit Card Purchases for Services, a Method of Advertising, and information whether the party registering currently using the credit card as a preferred method of payment, and other related information.

54. A system according to claim 52 wherein said server system further configured to receive seller information including at least one of a Business name, a Business Legal Name, a Business address including a City, a State, and a Zip Code, a Name of an Authorized Signer, a Title of the Authorized Signer, a Business Phone Number, a Business Fax Number, an “

Attention to”

identifying where the communication must be send to, an Email address, an URL address, a Domain Name, a State of Incorporation, a Date of Incorporation, a Number of Employees, Product being Sold or Marketed, Location of the Business and It'"'"'s Various Divisions, a Total Annual Sales of Business, an Estimated Annual Credit Card Sales, an Expected Average Credit Card Transaction, a Sales Tax Rate, a Refund policy, a Percentage of Credit Card Sales for Products, a Percentage of Credit Card Sales for Services, a Method of Advertising, and information whether the party registering currently using the credit card as a preferred acceptance mode of payment.

55. A system according to claim 51 wherein said server system further configured to:

store buyer information including at least one of a Business name, a Business Legal Name, a Business address including a City, a State, and a Zip Code, a Name of an Authorized Signer, a Title of the Authorized Signer, a Business Phone Number, a Business Fax Number, an “

Attention to”

identifying where the communication must be send to, an Email address, an URL address, a Domain Name, a State of Incorporation, a Date of Incorporation, a Number of Employees, Product being Sold or Marketed, Location of the Business and It'"'"'s Various Divisions, a Total Annual Sales of Business, an Estimated Annual Credit Card Purchases, an Expected Average Credit Card Transaction, a Sales Tax Rate, a Percentage of Credit Card Purchases for Products, a Percentage of Credit Card Purchases for Services, a Method of Advertising, and information whether the party registering currently using the credit card as a preferred method of payment, and other related information; and

store seller information including at least one of a Business name, a Business Legal Name, a Business address including a City, a State, and a Zip Code, a Name of an Authorized Signer, a Title of the Authorized Signer, a Business Phone Number, a Business Fax Number, an “

Attention to”

identifying where the communication must be send to, an Email address, an URL address, a Domain Name, a State of Incorporation, a Date of Incorporation, a Number of Employees, Product being Sold or Marketed, Location of the Business and It'"'"'s Various Divisions, a Total Annual Sales of Business, an Estimated Annual Credit Card Sales, an Expected Average Credit Card Transaction, a Sales Tax Rate, a Refund policy, a Percentage of Credit Card Sales for Products, a Percentage of Credit Card Sales for Services, a Method of Advertising, and information whether the party registering currently using the credit card as a preferred acceptance mode of payment.

56. A system according to claim 51 wherein said client system is further configured with:

a displaying component for displaying various user interfaces;

a displaying component for displaying at least one of a home page user interface, a General Information user interface, a Funding user interface, a Payment Type user interface, a Service Fees user interface, an Application Review user interface, a Help user interface, a FAQ user interface, a Glossary user interface, a Contact Us user interface, a Merchant Agreement user interface; and

a sending component for sending an inquiry to the server system so that the server system can process and download the requested information to the client system.

57. A system according to claim 56 wherein the sending component functions in response to a click of a mouse button.

58. A system according to claim 56 wherein the sending component functions in response to a voice command.

59. A system according to claim 51 wherein said system further configured to be protected from access by unauthorized individuals.

60. A system according to claim 51 wherein said server system is further configured with:

a collection component for collecting information from users into the centralized database;

a tracking component for tracking information on an on-going basis;

a displaying component for displaying at least one of a home page user interface, a General Information user interface, a Funding user interface, a Payment Type user interface, a Service Fees user interface, an Application Review user interface, a Help user interface, a FAQ user interface, a Glossary user interface, a Contact Us user interface, a Merchant Agreement user interface;

a receiving component for receiving an inquiry from the client system regarding at least one of a home page user interface, a General Information user interface, a Funding user interface, a Payment Type user interface, a Service Fees user interface, an Application Review user interface, a Help user interface, a FAQ user interface, a Glossary user interface, a Contact Us user interface, a Merchant Agreement user interface; and

an accessing component for accessing the centralized database and causing the retrieved information to be displayed on the client system.

61. A system according to claim 60 wherein said server system further configured with a receiving component for receiving an inquiry to provide information from one of a plurality of users.

62. A system according to claim 60 wherein said server system further configured with a processing component for searching and processing received inquiries against the data storage device containing a variety of information collected by the collection component.

63. A system according to claim 60 wherein said server system further configured with a retrieving component to retrieve information from the data storage device.

64. A system according to claim 60 wherein said server system further configured with an information fulfillment component that downloads the requested information after retrieving from the data storage device to the plurality of users in the order in which the requests were received by the receiving component.

65. A system according to claim 60 wherein said server system further configured to:

receive buyer information including at least one of a Business name, a Business Legal Name, a Business address including a City, a State, and a Zip Code, a Name of an Authorized Signer, a Title of the Authorized Signer, a Business Phone Number, a Business Fax Number, an “

Attention to”

identifying where the communication must be send to, an Email address, an URL address, a Domain Name, a State of Incorporation, a Date of Incorporation, a Number of Employees, Product being Sold or Marketed, Location of the Business and It'"'"'s Various Divisions, a Total Annual Sales of Business, an Estimated Annual Credit Card Purchases, an Expected Average Credit Card Transaction, a Sales Tax Rate, a Percentage of Credit Card Purchases for Products, a Percentage of Credit Card Purchases for Services, a Method of Advertising, and information whether the party registering currently using the credit card as a preferred method of payment, and other related information;

update buyer information including at least one of a Business name, a Business Legal Name, a Business address including a City, a State, and a Zip Code, a Name of an Authorized Signer, a Title of the Authorized Signer, a Business Phone Number, a Business Fax Number, an “

Attention to”

identifying where the communication must be send to, an Email address, an URL address, a Domain Name, a State of Incorporation, a Date of Incorporation, a Number of Employees, Product being Sold or Marketed, Location of the Business and It'"'"'s Various Divisions, a Total Annual Sales of Business, an Estimated Annual Credit Card Purchases, an Expected Average Credit Card Transaction, a Sales Tax Rate, a Percentage of Credit Card Purchases for Products, a Percentage of Credit Card Purchases for Services, a Method of Advertising, and information whether the party registering currently using the credit card as a preferred method of payment, and other related information; and

store buyer information including at least one of a Business name, a Business Legal Name, a Business address including a City, a State, and a Zip Code, a Name of an Authorized Signer, a Title of the Authorized Signer, a Business Phone Number, a Business Fax Number, an “

Attention to”

identifying where the communication must be send to, an Email address, an URL address, a Domain Name, a State of Incorporation, a Date of Incorporation, a Number of Employees, Product being Sold or Marketed, Location of the Business and It'"'"'s Various Divisions, a Total Annual Sales of Business, an Estimated Annual Credit Card Purchases, an Expected Average Credit Card Transaction, a Sales Tax Rate, a Percentage of Credit Card Purchases for Products, a Percentage of Credit Card Purchases for Services, a Method of Advertising, and information whether the party registering currently using the credit card as a preferred method of payment, and other related information.

66. A system according to claim 60 wherein said server system further configured to enter information at least through one of a voice activation command and a device connected to the client system.

67. A system according to claim 60 wherein said server system further configured to:

track the online transaction information on a real time basis; and

store the online transaction information against an identifier on a real time basis by updating stored information by adding the new information to the centralized database on a real time basis to provide up-to-date deal information instantaneously to the user upon a request.

68. A system according to claim 67 wherein said server system further configured to:

download requested information from a server system; and

display requested information on a client system in response to the inquiry.

69. A system according to claim 68 wherein said server system further configured to print the requested information in a pre-determined format.

70. A system according to claim 51 wherein said server system further configured to accept an inquiry from a user.

71. A system according to claim 70 wherein said server system further configured to:

receiving an inquiry from the client system; and

display information on the client system.

72. A system according to claim 71 wherein said server system further configured to submit a request through at least one of pull down menus, check boxes, and hypertext links.

73. A system according to claim 71 wherein said server system further configured to display an HTML document downloaded by the server system.

74. A system according to claim 71 wherein said server system further configured to display at least one alternative from various alternatives available to the user.

75. A system according to claim 71 wherein said server system further configured to:

access the centralized database;

search the database regarding the specific inquiry;

retrieve information from the database; and

transmit the retrieved information to the client system for display by the client system.

76. A system according to claim 71 wherein said server system further configured to extract transaction details tracking data into at least one of a database software and a financial spread sheet software.

77. A system according to claim 71 wherein said server system further configured to receive data extracts from at least one of a database software and a financial spread sheet software.

79. A database according to claim 79 further comprising data corresponding to at least one of Service Bureaus, FD Solutions, OC/PC Data, ACH Money Transfer, Buyer Services Data, and other Services Data.

80. A database according to claim 79 further comprising data corresponding to buyers preferences for products and services.

81. A database according to claim 79 further comprising data corresponding to sellers preferences for payment processing methods.

82. A database according to claim 79 further comprising data corresponding to buyers and sellers preferences for future sales projections.

78. A database comprising:

data corresponding to buyers and cross referencing the buyers data against unique identifiers;

data corresponding to sellers and cross referencing the sellers data against unique identifiers; and

data corresponding to various registration service providers.

83. A computer program embodied on a computer readable medium for managing online transactions, comprising:

a code segment that sets up user profiles of buyers and sellers and issues a user account number through an online registration process;

a code segment that maintains a database by adding, deleting and updating information;

a code segment that tracks transaction details according to assigned priorities;

a code segment that approves online transactions; and

a code segment that generates management reports to inform buyers and sellers.

84. The computer program according to claim 83 further includes a code segment that provides flexibility to an administrator to modify the user profile information.

85. The computer program according to claim 83 further includes a code segment that provides online help to the user by downloading a user manual on to a client device.

86. The computer program according to claim 83 further including a code segment that provides an option to the administrator which includes at least one of changing company profile option, changing payment information option, changing organization structure option, updating users option, changing administrator option, and updating product table option.

87. A computer program embodied on a computer readable medium for managing online transactions between buyers and sellers said program comprising:

a code segment that processes registration;

a code segment that manages client information;

a code segment that handles digital certificate management;

a code segment that processes transactions; and

a code segment that manages administrative functions.

88. The computer program according to claim 87 wherein the network is a wide area network operable using a protocol including at least one of TCP/IP and IPX.

89. The computer program according to claim 87 wherein the data is received from the user via a graphical user interface.

90. The computer program according to claim 87 further includes a code segment that assigns priority to transactions based on system'"'"'s capability.

91. The computer program according to claim 90 further includes a code segment that provides overwriting authority to a manager having a supervisory authority to reset the transactional priority assigned by the system.

92. The computer program according to claim 87 further includes a code segment that monitors work load and manages performance of administrative staff.

93. The computer program according to claim 87 includes a code segment that displays information through an HTML document downloaded by the server system.

94. The computer program according to claim 87 further comprising:

a code segment that accesses the centralized database;

a code segment that searches the database regarding the specific inquiry;

a code segment that retrieves information from the database; and

a code segment that causes the retrieved information to be displayed on the client system.

95. The computer program according to claim 87 further comprising a code segment that tracks online transactions.

96. The computer program according to claim 95 further comprising a code segment that ensures that goods are delivered to the buyer and payments are received for said goods from the seller and credited to the seller'"'"'s account after pre-determined fee for the online transaction has been deducted.

97. The computer program in accordance with claim 87 wherein the process registration code segment further includes a code segment that manages at least one of Central Registration Process, Credit Review &

Rating Process, Account Activation Process, and a Digital Certificate Application Process.

98. The computer program in accordance with claim 87 wherein the client information code segment further includes a code segment that manages at least one of a Client Profile, Signatory Privileges, multi level Users, Fee Structure, and various Settlement Options.

99. The computer program in accordance with claim 87 wherein the digital certificate management code segment further includes a code segment that handles Digital Certificate Management, SurePay PKI, Issuance of Digital Certificates, Management of Digital Certificates, Authentication of Digital Certificates, and Revocation of Digital Certificates.

100. The computer program in accordance with claim 87 wherein the computer program in accordance with claim 87 further includes a code segment that manages a Central Integration Toolkit, a Transaction Switch, Transaction messaging, a Payment scheduler, Recurring Payments, Escrow Management, Financing, and Money Transfer.

101. The computer program in accordance with claim 87 wherein the administrative functions code segment further includes a code segment that manages Digital Certificate Administration, Data Import, Data Export, Online Queries, Online Statements, Integrated Billings, and User Profile Administration.

102. The computer program in accordance with claim 87 wherein the administrative functions code segment further includes a code segment that allows an administrator to import and export data from other commercial software.

103. The computer program in accordance with claim 87 wherein the administrative functions code segment of the computer program further includes a code segment that permits the administrator to change the user profile information including the users payment information, company'"'"'s payment information, adding new users, editing user profiles, and deleting inactive users.

104. The computer program according to claim 87 wherein the client system and the server system are connected via a network and wherein the network is one of a wide area network, a local area network, an intranet and the Internet.

105. The computer program according to claim 87, and further comprising a code segment that monitors the security of the system by restricting access to unauthorized individuals.