Pre-funding system and method
First Claim
1. A method for pre-funding, the method comprising:
- sending a plurality of pre-fund authorization requests to a buyer financial institution;
receiving a plurality of responses to the pre-fund authorization requests from the buyer financial institution, wherein each response either accepts or declines a pre-fund authorization request;
sending a funds transfer request to the buyer financial institution, wherein the funds transfer request corresponds to a total value of the accepted pre-fund authorization requests; and
authorizing the sending of funds to a supplier financial institution after the funds have transferred from the buyer financial institution to an account in response to the funds transfer request.
1 Assignment
0 Petitions
Accused Products
Abstract
A method for pre-funding is disclosed. The method includes sending a plurality of pre-fund authorization requests to a buyer financial institution, and then receiving a plurality of responses to the pre-fund authorization requests from the buyer financial institution, where each response either accepts or declines a pre-fund authorization request. A funds transfer request is sent to the buyer financial institution, where the funds transfer request corresponds to a total value of the accepted pre-fund authorization requests. Notification that funds have transferred from the buyer financial institution in response to the funds transfer request is received. Then, the sending of the funds to a supplier financial institution is authorized.
247 Citations
22 Claims
-
1. A method for pre-funding, the method comprising:
-
sending a plurality of pre-fund authorization requests to a buyer financial institution;
receiving a plurality of responses to the pre-fund authorization requests from the buyer financial institution, wherein each response either accepts or declines a pre-fund authorization request;
sending a funds transfer request to the buyer financial institution, wherein the funds transfer request corresponds to a total value of the accepted pre-fund authorization requests; and
authorizing the sending of funds to a supplier financial institution after the funds have transferred from the buyer financial institution to an account in response to the funds transfer request. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
-
-
11. A computer readable medium comprising:
-
code for sending a plurality of pre-fund authorization requests to a buyer financial institution;
code for receiving a plurality of responses to the pre-fund authorization requests from the buyer financial institution, wherein each response either accepts or declines a pre-fund authorization request;
code for sending a funds transfer request to the buyer financial institution, wherein the funds transfer request corresponds to a total value of the accepted pre-fund authorization requests; and
code for authorizing the sending of funds to a supplier financial institution after the funds have transferred from the buyer financial institution to an account in response to the funds transfer request. - View Dependent Claims (12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22)
-
Specification