Transaction processing with core and distributor processor implementations

• US 20050278251A1
• Filed: 06/09/2005
• Published: 12/15/2005
• Est. Priority Date: 06/09/2004
• Status: Active Grant

• Current Assignee: Syncada LLC (US Bancorp)
• Original Assignee: Syncada LLC (US Bancorp)
• Inventors: Hahn-Carlson, Dean W.
• Granted Patent: US 8,560,439 B2
• Time in Patent Office: Days
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/02 involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/12 specially adapted for electronic shopping systems
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

Transaction processing for distributor-based transactions is facilitated. According to an example embodiment of the present invention, a transaction management approach involves the processing of aspects of a transaction between contracting parties using transaction rules associated with an administrator and at least one distributor sponsoring the transaction. In some applications, the administrator finances the transaction. Fees are assessed as a function of the transaction processing on behalf of the administrator and, in come instances, the distributor.

Claims

1. An automated transaction processing system for processing and financing transactions between contracting parties on behalf of a plurality of distributors, each distributor entering into an agreement with a controller party for processing and financing the transactions, with sets of transaction rules defined as a function a transaction agreement between each distributor and contracting parties sponsored by the distributor, the system comprising:

for each of the plurality of distributors, a distributor processor configured and arranged to audit transaction data for each transaction according to a set of transaction rules for at least one of the contracting parties involved in the transaction;

a core processor configured and arranged to control an implementation of each distributor processor on behalf of the plurality of distributors as a function of the transaction agreement between each distributor and the controller party;

a transaction-finance processor implemented by the controller party and configured and arranged to facilitate the financing of each transaction as a function of the audit thereof; and

a use-fee processor configured and arranged to assess a fee as a function of transactions processed on behalf of each distributor.

2. The system of claim 1, wherein the distributor processor and the core processor are implemented on a common processing arrangement.

3. The system of claim 2, wherein the distributor processor is configured and arranged to implement programming code proprietary to each of the plurality of distributors when respectively processing transactions on behalf of a particular one of the distributors.

4. The system of claim 1, wherein the distributor processor includes a plurality of distributor processors, each distributor processor programmed exclusively for processing of transaction information on behalf of a particular distributor.

5. The system of claim 1, further comprising a remote processor, for at least one of the plurality of distributors, located at a remote distributor location, adapted for interfacing with contracting parties and adapted to provide transaction data from the contracting parties to the distributor processor.

6. The system of claim 5, wherein the distributor processor for the at least one of the plurality of distributors includes an auditing processor and the remote processor, the auditing processor being adapted to audit said transaction data provided by the remote processor.

7. The system of claim 6, wherein the remote processor is adapted to authenticate transaction data received from contracting parties as a function of user profiles for the contracting parties, and wherein the auditing processor is adapted to authenticate transaction data received from the remote processor as a function of user profiles for the at least one of the plurality of distributors.

8. The system of claim 1, wherein the distributor processor is configured and arranged to provide data to the core processor for use in processing selected transaction aspects, and to maintain integrity of other data used in the audit by limiting access to the data via the core processor.

9. The system of claim 8, wherein the distributor processor is configured and arranged to provide data to the core processor by providing data authorizing payment for transactions.

10. The system of claim 9, wherein the data authorizing payment for the transaction includes at least one of:

a payment source;

a payment destination;

credit authorization; and

currency conversion terms.

11. The system of claim 1, wherein the distributor processor is configured and arranged to provide data authorizing payment for the transaction to the core processor as a function of the audit.

12. The system of claim 11, wherein the data authorizing payment for the transaction includes at least one of:

a payment source;

a payment destination;

credit authorization; and

currency conversion terms.

13. The system of claim 1, wherein the transaction-finance processor is configured and arranged to facilitate a funds transfer in the amount of the fee assessed by the use-fee processor.

14. The system of claim 13, wherein the transaction-finance processor is configured and arranged to facilitate a funds transfer in the amount of the fee assessed by the use-fee processor by assessing the fee against a credit account for the distributor.

15. The system of claim 1, wherein the distributor processor is implemented at least in part at the core processor.

16. The system of claim 15, further comprising a processing isolation function configured and arranged for inhibiting the controller party from accessing distributor processor functions implemented at the core processor.

17. The system of claim 1, wherein the transaction-finance processor is configured and arranged to facilitate payment for each audited transaction as a function of the audit of each transaction and information in the transaction rules pertaining to the business relationship between the distributor and a contracting party involved in the payment.

18. The system of claim 1, wherein the transaction-finance processor is configured and arranged to facilitate payment for each audited transaction by extending trade credit to at least one of the contracting parties.

19. The system of claim 18, wherein the transaction-finance processor is configured and arranged to extend trade credit to the at least one of the contracting parties as a function of a credit term relating to the distributor.

20. The system of claim 1, further comprising:

a data storage arrangement configured and arranged to store the sets of transaction rules provided by each distributor institution.

21. The system of claim 1, wherein the use-fee processor is configured and arranged to assess a fee as a function of transactions processed on behalf of each distributor by assessing a fee against each distributor on behalf of the controller party as a function of transactions processed on behalf of each distributor.

22. An automated transaction processing system for processing and financing transactions between contracting parties on behalf of a plurality of distributors, each distributor entering into an agreement with a controller party for processing and financing the transactions, with sets of transaction rules defined as a function a transaction agreement between each distributor and contracting parties sponsored by the distributor, the system comprising:

for each of the plurality of distributors, means for auditing transaction data for each transaction according to a set of transaction rules for at least one of the contracting parties involved in the transaction;

means for controlling an implementation of each distributor processor on behalf of the plurality of distributors as a function of the transaction agreement between each distributor and the controller party;

means for facilitating the financing of each transaction as a function of the audit thereof; and

means for assessing a fee as a function of transactions processed on behalf of each distributor.

23. A controller-operated distributor-based transaction processing system for processing and financing transactions between buyers and sellers on behalf of a plurality of distributors, the system comprising:

an association processor configured and arranged to associate, for each transaction involving a buyer and a seller, payment data with one of the plurality of distributors;

a transaction auditor configured and arranged, for each said transaction, to audit the payment data according to a set of transaction rules for the associated one of the plurality of distributors; and

a finance processor configured and arranged, for each said transaction, to fmance payment for the transaction as a function of the audit and of an agreement between the associated one of the plurality of distributors and the controller operating the distributor-based transaction processing system.

24. The system of claim 23, wherein the transaction auditor is configured and arranged to audit the transaction payment data according to a set of transaction rules for the associated one of the plurality of distributors by auditing the transaction as a function of transaction rules for the one of the buyer and the seller.

25. The system of claim 23, wherein the finance processor is configured and arranged, for each said transaction, to assess a transaction processing fee against at least one of the buyer, the seller and the associated one of the plurality of distributors.

26. A method for processing and financing transactions between contracting parties on behalf of a plurality of distributors, each distributor entering into an agreement with a controller party for processing and financing the transactions, with sets of transaction rules defined as a function a transaction agreement between each distributor and contracting parties sponsored by the distributor, the method comprising:

for each of the plurality of distributors, auditing transaction data for each transaction according to a set of transaction rules for at least one of the contracting parties involved in the transaction;

controlling an implementation of each distributor processor on behalf of the plurality of distributors as a function of the transaction agreement between each distributor and the controller party;

financing each transaction as a function of the audit thereof; and

assessing a fee as a function of transactions processed on behalf of each distributor.