Funds transfer method and system including payment enabled invoices
First Claim
1. A financial management method, comprising:
- receiving an input from an invoicing entity accessing a financial management system via an invoicing user interface (UI) to create a payer, wherein a payer owes an outstanding balance to the invoicing entity;
via the invoicing UI, receiving a request to create an invoice, wherein creating an invoice comprises setting payment terms on the invoice, wherein the invoice states an amount comprising at least part of the outstanding balance;
via the invoicing UI, receiving a destination account to associate with the invoice, wherein the destination account is an account designated to receive funds to be credited against the invoice;
posting the invoice to at least one payment hub, and storing the invoice in an invoice database;
receiving payer account data input from a payer accessing the at least one payment hub via a payment hub UI, wherein the payer account data includes access information for at least one payer financial account;
via the payment hub UI, receiving a selection one of the at least one payer financial account for funding payment of the invoice;
via the payment hub UI, receiving payer direction to pay the invoice;
paying the invoice, comprising executing a transfer of funds from the payment account to the destination account; and
updating the invoice to reflect payment of the invoice.
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Accused Products
Abstract
Embodiments described herein include a financial management system that transfers funds on behalf of a user. Embodiments further include a payment enabled invoice method and system including a payment application and payment hubs through which invoicing entities may create and modify invoices, and through which a payer may view and pay the invoices. The invoicing entity and the payer do not exchange financial account information, which is confidentially held by the payment enabled invoice system. Invoices are paid according to funds transfer embodiments, wherein a transfer comprises the financial management system executing a debit transaction from a first financial institution, holding the debited funds in an intermediary account owned by the financial management system at a second financial institution, and executing a credit transaction to credit the funds to an account at a third financial institution.
221 Citations
32 Claims
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1. A financial management method, comprising:
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receiving an input from an invoicing entity accessing a financial management system via an invoicing user interface (UI) to create a payer, wherein a payer owes an outstanding balance to the invoicing entity;
via the invoicing UI, receiving a request to create an invoice, wherein creating an invoice comprises setting payment terms on the invoice, wherein the invoice states an amount comprising at least part of the outstanding balance;
via the invoicing UI, receiving a destination account to associate with the invoice, wherein the destination account is an account designated to receive funds to be credited against the invoice;
posting the invoice to at least one payment hub, and storing the invoice in an invoice database;
receiving payer account data input from a payer accessing the at least one payment hub via a payment hub UI, wherein the payer account data includes access information for at least one payer financial account;
via the payment hub UI, receiving a selection one of the at least one payer financial account for funding payment of the invoice;
via the payment hub UI, receiving payer direction to pay the invoice;
paying the invoice, comprising executing a transfer of funds from the payment account to the destination account; and
updating the invoice to reflect payment of the invoice. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17)
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18. The method of 17 wherein the settlement statement comprises a payment enabled medical insurance explanation of benefits (EOB).
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19. A system, comprising:
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a financial management system coupled to a plurality of financial institutions via at least one network, the financial management system configurable to execute a debit transaction with one of the financial institutions and to execute a credit transaction with another one of the financial institutions, wherein the debit transaction and the credit transaction are parts of a same transaction;
an invoicing application module coupled to the financial management system, the invoicing application module comprising at least one invoicing user interface (UI) via which an invoicing entity registers a payer and creates an invoice for the payer;
at least one payment hub coupled to the invoicing application module and to the financial management system, the at least one payment hub comprising at least one payment hub UI via which a payer accesses and views the invoice and directs payment from an account; and
wherein the financial management system is further configurable to pay the invoice, including executing the debit transaction and executing the credit transaction, and to update the invoice to reflect payment. - View Dependent Claims (20, 21, 22, 23, 24, 25, 26)
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27. A financial management system, comprising:
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at least one coupling to a plurality of financial institutions via at least one network, wherein the financial management system is configurable to execute a debit transaction with one of the financial institutions and to execute a credit transaction with another one of the financial institutions, wherein the debit transaction and the credit transaction are parts of a same transaction;
an invoicing application module coupled to the financial management system, the invoicing application module comprising at least one invoicing user interface (UI) via which an invoicing entity registers a payer and creates an invoice for the payer;
at least one payment hub coupled to the invoicing application module and to the financial management system, the at least one payment hub comprising at least one payment hub UI via which a payer accesses and views the invoice and directs payment from an account; and
wherein the financial management system is further configurable to pay the invoice, including executing the debit transaction and executing the credit transaction, and to update the invoice to reflect payment. - View Dependent Claims (28, 29, 30)
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31. An invoicing user interface method, comprising:
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providing a plurality of invoicing user interfaces to a plurality of invoicing entities;
receiving data to create invoices from the plurality of invoicing entities, wherein the data comprises payment terms and payment amounts;
making the invoices available to a plurality of payers;
receiving data from the plurality of payers, including direction to pay invoices; and
updating the invoices in real time in response to data received from the plurality of invoicing entities and data received from the plurality of payers.
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32. A payment hub user interface method, comprising:
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providing a plurality of payment hubs to a plurality of payers, wherein the plurality of payment hubs are coupled to an invoice database storing invoices;
receiving requests via a payment hub user interface to, view invoices, comprising current and aged invoices from at least one invoicing entity; and
pay invoices; and
executing the received requests; and
updating invoices in real time based on executed requests.
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Specification