×

Multi-party transaction processing system and approach

  • US 20060167791A1
  • Filed: 12/22/2005
  • Published: 07/27/2006
  • Est. Priority Date: 12/29/2004
  • Status: Abandoned Application
First Claim
Patent Images

1. An automated transaction arrangement for processing payment for transactions characterized by contract terms between a buyer and an intermediary seller and by contract terms between the intermediary seller and a performing seller, the arrangement comprising:

  • a data storage arrangement adapted to store contract terms and business rules for transaction parties, the contract terms including data for auditing and effecting payment to intermediary and performing sellers involved in a common transaction, the business rules including financial processing data for effecting funds transfer for the parties to each transaction; and

    an automatic transaction processor adapted to automatically process payment for each transaction using funds designated to the buyer in the transaction, by paying intermediary and performing seller parties as a function of the stored contract terms for the transaction and the business rules information for the buyer and at least one of the intermediary seller and the performing seller.

View all claims
  • 3 Assignments
Timeline View
Assignment View
    ×
    ×