System and method for varying electronic settlements between buyers and suppliers with dynamic discount terms
First Claim
1. A method of making payment comprising:
- receiving a request to effect payment between a buyer and a seller for a transaction having established terms, the terms including a payment amount and a settlement date;
exchanging messages between the buyer and seller that include an offer and acceptance of new terms for payment other than the established terms, wherein the new terms include an adjusted amount of payment to be made at a particular time after an event associated with the transaction;
receiving an electronic notification that the event has occurred; and
after the notification, effecting payment between the buyer and seller under the new terms.
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Accused Products
Abstract
A method of making payment. A request is received to effect payment between a buyer and a seller for a transaction having established terms. The terms include a payment amount and a settlement date. Messages are exchanged between the buyer and the seller that include an offer and acceptance of new terms for payment other than the established terms. The new terms include an adjusted amount of payment to be made at a particular time after an event associated with the transaction. An electronic notification that the event has occurred is received, and after the notification, payment between the buyer and seller is effected under the new terms. In one implementation, a digital signature indicating acceptance of the new terms is received. Another embodiment of the invention is directed to a method of effecting payment that includes receiving requests to effect a set of transactions with a set of entities. Requests for offers of terms different than the established terms are sent to the entities, and the different terms are to apply to payment made at a particular time after the event. Offers are received in response to the requests, and a set of offers among the offers is selected based on a set of one or more criteria. Requests for offers and selection of the offers may be made based on a goal seeking process. Another embodiment of the invention is directed to a method of making payment involving a buyer, seller and a third party, such as a financial institution. A system for making payment is also described.
196 Citations
43 Claims
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1. A method of making payment comprising:
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receiving a request to effect payment between a buyer and a seller for a transaction having established terms, the terms including a payment amount and a settlement date;
exchanging messages between the buyer and seller that include an offer and acceptance of new terms for payment other than the established terms, wherein the new terms include an adjusted amount of payment to be made at a particular time after an event associated with the transaction;
receiving an electronic notification that the event has occurred; and
after the notification, effecting payment between the buyer and seller under the new terms. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
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11. A method of making payment comprising:
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receiving a request to effect payment between a buyer and a seller for a transaction having established terms, the terms including a payment amount and a settlement date;
exchanging messages between the buyer and seller that include an offer and acceptance of new terms for payment other than the established terms, wherein the new terms include an adjusted amount of payment to be made at a particular time after an event associated with an invoice for the transaction;
receiving the invoice from the seller;
receiving an electronic notification that the event associated with the invoice has occurred; and
after the notification, effecting payment between the buyer and seller under the new terms. - View Dependent Claims (12, 13)
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14. A method of effecting payment comprising:
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receiving requests to effect a set of transactions with a set of entities, the transactions having established terms;
receiving a set of electronic notifications of events associated with the transactions;
sending to the entities a set of requests for offers of terms different than the established terms, the different terms to applying to payment made at a particular time after the event;
receiving offers in response to the requests;
selecting a set of offers from among the offers based on a set of one or more criteria; and
after the respective events, effecting payment to the respective entities associated with the selected offers under terms in the respective offers. - View Dependent Claims (15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28)
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29. A method of making payment comprising:
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receiving notification regarding the existence of a transaction between a buyer and a seller, the transaction having established terms, the terms including a payment amount and a settlement date;
exchanging messages between the buyer, seller and a third party that include an offer and acceptance of new terms for payment other than the established terms, wherein the new terms include an amount of payment to be made by the third party to the seller at a particular time after an event associated with the transaction;
receiving an electronic notification that the event has occurred;
after the notification, effecting payment of the adjusted payment from the third party to the seller under the new terms; and
after the payment by the third party, effecting payment between the buyer and the financial institution under the new terms. - View Dependent Claims (30, 31, 32, 33, 34, 35, 36, 37)
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38. A system for making payment comprising:
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a first system associated with a seller, the first system including, logic that generates an invoice and sends the invoice to a buyer, the invoice having an associated set of terms; and
logic that, in response to a request for an offer from the buyer, sends at least an offer to the buyer for a new set of terms other than the associated set of terms, the offer applying to payment after an event associated with processing of the invoice;
a second system associated with a buyer, the second system including, logic that receives the invoice from the seller;
logic that generates and sends to the seller the request for an offer;
logic that receives the offer from the seller;
logic that sends an electronic indication to the seller accepting the offer from the seller;
logic that generates electronic indications of events associated with processing of the invoice; and
logic that effects payment from the buyer to the seller according to the new terms after receipt of electronic indication of the event associated with the processing of the invoice. - View Dependent Claims (39, 40, 41, 42, 43)
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Specification