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Transaction Finance Processing System and Approach

  • US 20080086396A1
  • Filed: 10/04/2007
  • Published: 04/10/2008
  • Est. Priority Date: 10/06/2006
  • Status: Active Grant
First Claim
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1. An automated electronic payment processing arrangement for processing payment for transactions involving different buyers and sellers having respective contracts therebetween, with profile data specifying user-specific transaction processing characteristics, the arrangement including a transaction processor to:

  • associate electronic seller invoice data sets with data characterizing a particular transaction involving a buyer and a seller as a function of at least one of;

    stored contract data, buyer profile data and seller profile data;

    for each associated invoice data set, audit the invoice data set using electronically-stored contract and profile information for one of the buyer and the seller, and generate audit result data in response to the audit, and process an electronic credit-based payment to an electronic financial system for the seller on behalf of the buyer using the audit result data, stored contract data and stored profile data for at least one of the buyer and the seller;

    for transactions involving a particular buyer, maintain record data of seller payments made on behalf of the buyer, and process a funding request to the buyer for collecting settlement for payments provided to sellers on behalf of the buyer;

    selectively assess a fee against each buyer by generating computer-readable fee data for electronic payment made on behalf of the buyer, the fee data electronically associating the assessed fee and an amount of the fee with the buyer; and

    selectively assess a fee against each seller by generating computer-readable fee data for credit-based funding and electronic payment collection performed on behalf of the seller, the fee data electronically associating the assessed fee and an amount of the fee with the seller.

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