METHOD AND SYSTEM FOR USING PAYMENT HISTORY FOR CONDUCTING COMMERCIAL TRANSACTIONS

• US 20080120218A1
• Filed: 11/17/2006
• Published: 05/22/2008
• Est. Priority Date: 11/17/2006
• Status: Active Grant

• Current Assignee: Visa International Service Association (Visa, Inc.)
• Original Assignee: Visa International Service Association (Visa, Inc.)
• Inventors: Swackhammer, Craig, Maslin, Fredric, Belsky, Marc, Reid, William
• Granted Patent: US 8,175,961 B2
• Time in Patent Office: Days
• US Class Current: 705/37
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 20/4016 involving fraud or risk level assessment in transaction processing
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

A method is disclosed. The method includes receiving transaction data relating to a plurality of commercial transactions conducted by a plurality of buyers and sellers conducting commercial transactions using a transaction processing system, and then receiving a request for transaction information relating to the received transaction data from an entity, wherein the transaction information also relates to a commercial transaction between a buyer and a seller. The method further includes providing the transaction information to an entity, wherein the entity thereafter makes a decision about further interacting with the buyer or the seller.

Claims

1. A method comprising:

receiving transaction data relating to a plurality of commercial transactions conducted by a plurality of buyers and sellers conducting commercial transactions using a transaction processing system;

receiving a request for transaction information relating to the received transaction data from an entity, wherein the transaction information also relates to a commercial transaction between a buyer and a seller; and

providing the transaction information to an entity, wherein the entity thereafter makes a decision about further interaction with the buyer or the seller,

wherein the transaction information comprises future receivable information and future payable information associated with the buyer or the seller, wherein the entity matches payables and receivables after the transaction information is provided to the entity.

2. The method of claim 1 wherein the transaction information comprises risk information, wherein the risk information comprises a risk rating for the buyer or the seller.

3. The method of claim 1 wherein the entity comprises a buyer bank.

4. The method of claim 1 wherein the entity comprises a seller bank.

5. The method of claim 1 further comprising receiving funds advanced by the entity, after providing the transaction information.

6. The method of claim 1 wherein a payment due date is associated with the commercial transaction, and wherein the method further comprises receiving funds advanced by the entity and then forwarding the funds to the seller on an advance payment date prior to the payment due date.

8. The method of claim 1 further comprising:

updating a payment history database after the commercial transaction is conducted.

9. The method of claim 1 wherein the entity is the seller, wherein the transaction information comprises risk information, and wherein the risk information helps the seller determine whether or not to ship goods associated with the commercial transaction.

7. A method comprising:

receiving transaction data relating to a plurality of commercial transactions conducted by a plurality of buyers and sellers conducting commercial transactions using a transaction processing system;

receiving a request for transaction information relating to the received transaction data from an entity, wherein the transaction information also relates to a commercial transaction between a buyer and a seller; and

providing the transaction information to an entity, wherein the entity thereafter makes a decision about further interaction with the buyer or the seller, wherein a payment due date is associated with the commercial transaction, and wherein the method further comprises;

receiving funds advanced by the entity and then forwarding the funds to the seller on an advance payment date prior to the payment due date; and

debiting an account of the buyer on the payment due date.

24. The method of claim 7 wherein the transaction information further comprises an average payment time associated with the buyer.

25. The method of claim 7 wherein the transaction information further comprises an average payment time associated with the seller.

26. The method of claim 7 wherein the transaction information further comprises the country of origin of the buyer or the seller.

27. The method of claim 7 wherein the transaction information further comprises an average payment time associated with the buyer.

28. The method of claim 7 wherein the transaction information further comprises average and current net positions of the buyer and the seller.

29. The metod of claim 7 further comprising performing a clearing and settlement process.

10. (canceled)

11. A computer readable medium comprising:

code for receiving transaction data relating to a plurality of commercial transactions conducted by a plurality of buyers and sellers conducting commercial transactions using a transaction processing system;

code for receiving a request for transaction information relating to the received transaction data from an entity, wherein the transaction information also relates to a commercial transaction between a buyer and a seller; and

code for providing the transaction information to an entity, wherein the entity thereafter makes a decision about further interacting with the buyer or the seller,

wherein the transaction information comprises future receivable information and future payable information associated with the buyer or the seller, wherein the entity matches payables and receivables after the transaction information is provided to the entity.

12. The computer readable medium of claim 11 wherein the transaction information comprises risk information, wherein the risk information comprises a risk rating for the buyer or the seller.

13. The computer readable medium of claim 11 wherein the entity comprises a buyer bank.

14. The computer readable medium of claim 11 wherein the entity comprises a seller bank.

15. The computer readable medium of claim 11 further comprising receiving funds advanced by the entity, after providing the transaction information.

16. The computer readable medium of claim 11 wherein a payment due date is associated with the commercial transaction, and wherein the method further comprises receiving funds advanced by the entity and then forwarding the funds to the seller on an advance payment date prior to the payment due date.

18. The computer readable medium of claim 11 further comprising:

code for updating a payment history database after the commercial transaction is conducted.

19. The computer readable medium of claim 11 wherein the entity is the seller, wherein the transaction information comprises risk information, and wherein the risk information helps the seller determine whether or not to ship goods associated with the commercial transaction.

21. A server computer comprising the computer readable medium of claim 11.

22. A system comprising:

a transaction processing system comprising the server computer of claim 21; and

a payment processing system operatively coupled to the transaction processing system.

23. The system of claim 22 further comprising a buyer bank and a seller bank operatively coupled to the payment processing system.

17. A computer readable medium comprising:

code for receiving transaction data relating to a plurality of commercial transactions conducted by a plurality of buyers and sellers conducting commercial transactions using a transaction processing system;

code for receiving a request for transaction information relating to the received transaction data from an entity, wherein the transaction information also relates to a commercial transaction between a buyer and a seller; and

code for providing the transaction information to an entity, wherein the entity thereafter makes a decision about further interacting with the buyer or the seller, wherein a payment due date is associated with the commercial transaction, and wherein the computer readable medium further comprises;

code for receiving funds advanced by the entity and then forwarding the funds to the seller on an advance payment date prior to the payment due date; and

code for debiting an account of the buyer on the payment due date.

20. (canceled)