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

• Current Assignee: Syncada LLC (US Bancorp)
• Original Assignee: Syncada LLC (US Bancorp)
• Inventors: Hahn-Carlson, Dean
• Granted Patent: US 8,712,884 B2
• Time in Patent Office: Days
• US Class Current: 705/34
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 30/04 Billing or invoicing
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions

Abstract

Transaction management for processing payment-related aspects of transactions is facilitated. According to an example embodiment of the present invention, a transaction management approach involves the processing of payments on behalf of a buyer or other owing party. These payments are made, e.g., in connection with accounts payable or other functions implemented by the buyer/owing party. In some applications, the payment processing involves a trade credit approach, wherein payment is made on behalf of the buyer/owing party against a credit-type account.

Claims

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.

2. The arrangement of claim 1, wherein the transaction processor

processes electronic credit-based payment to an electronic financial system for the seller by closing the transaction and the debt owed by the buyer to the seller for the transaction, and

maintains record data of seller payments made on behalf of a buyer in a trade payables account that collectively represents funds owed by the buyer to cover payments made on behalf of the buyer.

3. The arrangement of claim 1, wherein the transaction processor is a programmed computer arrangement.

4. The arrangement of claim 1, wherein the transaction processor selectively assesses a fee against each buyer by generating computer-readable processing fee data for transaction processing fee.

5. The arrangement of claim 1, wherein the transaction processor selectively assesses a fee against each buyer by generating computer-readable credit fee data for extending credit on behalf of the buyer.

6. The arrangement of claim 1, wherein the transaction processor selectively assesses a fee against each buyer by generating computer-readable fee data to cover a fee for transaction processing and a credit extension for the buyer.

7. The arrangement of claim 1, wherein the transaction processor manages accounts payables for a particular buyer by, for seller payments made on behalf of the buyer during a payment period, electronically collecting funds from the buyer at a designated time by processing an electronic funds transfer for effecting settlement from the buyer for the payments provided to the sellers on behalf of the buyer.

8. The arrangement of claim 1, wherein the transaction processor

manages accounts receivables for a particular seller by, for electronic credit-based payment processed to an electronic financial system for the seller on behalf of a buyer in advance of payment by the buyer, extending credit to the seller for the payment, and

processes a funding request to the buyer to cover the advanced payment as recorded in the record data.

9. The arrangement of claim 1, wherein the transaction processor processes a funding request for collecting settlement from the buyer by processing electronic funds receipts from the buyer as such funds are received for a transaction as a function of terms provided in a seller invoice data set for the transaction.

10. An automated electronic payment processing arrangement for processing payment for transactions involving buyers and sellers, the arrangement including a transaction processor configured and arranged to:

associate electronic seller invoice data sets with data characterizing a transaction involving a buyer and a seller as a function of stored contract data depicting a contract between the buyer and the seller;

for each particular transaction involving a buyer and a seller,

audit invoice data associated with the transaction using electronically-stored contract information for one of the buyer and the seller, and generate audit result data in response to the audit,

process a credit-based payment to the seller on behalf of the buyer using the audit result data, stored contract data for the transaction and stored electronic profile data that indicates credit-based characteristics for at least one of the buyer and the seller, and

generate computer-readable record data characterizing seller payments made on behalf of a buyer;

use the stored contract data to selectively assess a fee against at least one of the buyer and the seller in each transaction for processed credit-based electronic payments by generating computer-readable fee data to electronically associate the assessed fee and an amount of the fee with the at least one of the buyer and the seller; and

facilitate funds transfer from each buyer to cover payments made on behalf of the buyer, using the generated computer-readable record data for at least one transaction involving the buyer.

11. The arrangement of claim 10, wherein the transaction processor facilitates, for each buyer, a funds transfer from the buyer to cover payments made on behalf of the buyer for different transactions for which payment is made during a payment period by computing a total amount of payments made during the payment period using the generated computer-readable record data for the different transactions.

12. The arrangement of claim 10, wherein the transaction processor

processes payment for transactions involving a parent buyer organization having at least two subsidiary buyers that transact with sellers,

selectively assesses a fee against at least one of a subsidiary buyer and seller involved in a transaction by selectively assessing a fee against the parent buyer for credit-based payment processed on behalf of the subsidiary buyer, and

facilitates funds transfer from each buyer by facilitating funds transfer from the parent buyer for payments made on behalf of the subsidiary buyers.

13. The arrangement of claim 10, wherein the transaction processor

processes a credit-based payment, for transactions involving a parent buyer organization having at least two subsidiary buyers that transact with sellers, to a financial system for each seller transacting with a subsidiary buyer using stored electronic profile data for the parent buyer,

selectively assesses a fee against at least one of a subsidiary buyer and seller involved in a transaction by selectively assessing a fee against the parent buyer for credit-based payment processed on behalf of the subsidiary buyer, and

facilitates funds transfer from each buyer by facilitating funds transfer from the parent buyer for payments made on behalf of the subsidiary buyers.

14. The arrangement of claim 10, wherein the transaction processor

processes a credit-based payment, for transactions involving a parent buyer organization having at least two subsidiary buyers that transact with sellers, to a financial system for each seller transacting with a subsidiary buyer using stored electronic profile data for the subsidiary buyer for which payment is processed,

selectively assesses a fee against at least one of a subsidiary buyer and seller involved in a transaction by selectively assessing a fee against the parent buyer for credit-based payment processed on behalf of the subsidiary buyer, and

facilitates funds transfer from each buyer by facilitating funds transfer from the parent buyer for payments made on behalf of the subsidiary buyers.

15. An automated electronic payment processing arrangement for processing payment for transactions involving buyers and sellers, the arrangement including a transaction processor configured and arranged to:

associate electronic seller invoice data sets with data characterizing a transaction involving a buyer and a seller as a function of stored contract data depicting a contract between the buyer and the seller;

for each particular transaction,

audit invoice data associated with the transaction using electronically-stored contract information for one of the buyer and the seller, and generate audit result data in response to the audit,

process a credit-based electronic payment to an electronic financial system for the seller on behalf of the buyer by extending credit to the seller for the payment using the audit result data, contract data for the transaction and electronic profile data indicating credit-based characteristics of the seller, and

generate computer-readable record data characterizing seller payments made on behalf of a buyer,

selectively assess a fee against the seller for processing credit-based electronic payments by generating computer-readable fee data to electronically associate the assessed fee and an amount of the fee with the seller; and

facilitate an electronic funds transfer to cover electronic payments made on behalf of each buyer, using the generated computer-readable record data for at least one transaction involving the buyer.

16. The arrangement of claim 15, wherein the transaction processor processes credit-based electronic payment to an electronic financial system for the seller by facilitating an electronic funds transfer for paying the seller an amount that is equal to an amount owed by the buyer to the seller, less a fee selectively assessed against the seller for the payment.

17. The arrangement of claim 15, wherein the transaction processor facilitates an electronic funds transfer to cover electronic payments made on behalf of a buyer by collecting funds from the buyer.

18. The arrangement of claim 15, wherein the transaction processor facilitates an electronic funds transfer to cover electronic payments made to a seller on behalf of a buyer by collecting funds from the seller.

19. The arrangement of claim 15, wherein the transaction processor facilitates an electronic funds transfer to cover electronic payments made to a seller on behalf of a buyer for a particular transaction by collecting funds from the seller, upon the seller'"'"'s receipt of funds from the buyer as payment for the particular transaction.

20. The arrangement of claim 15, wherein the transaction processor facilitates an electronic funds transfer to cover electronic payments made to a seller on behalf of a buyer by collecting funds provided by the buyer for payment to the seller by automatically re-routing funds, provided by the buyer, that are designated for electronic transfer to the seller.

21. The arrangement of claim 15, wherein the transaction processor facilitates an electronic funds transfer to cover the assessed fee using the generated computer-readable fee data.

22. A method for automated electronic payment processing for transactions involving different buyers and sellers having respective contracts therebetween, with profile data specifying user-specific transaction processing characteristics, the method comprising:

associating 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,

auditing 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

processing 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,

maintaining record data of seller payments made on behalf of the buyer, and

processing a funding request to the buyer for collecting settlement for payments provided to sellers on behalf of the buyer;

selectively assessing 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 assessing 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.

23. The arrangement of claim 22, wherein

processing electronic credit-based payment to an electronic financial system for the seller includes closing the transaction and the debt owed by the buyer to the seller for the transaction, and

maintaining record data of seller payments made on behalf of a buyer includes maintaining record data in a trade payables account that collectively represents funds owed by the buyer to cover payments made on behalf of the buyer.