PAYMENT ENTITY FOR ACCOUNT PAYABLES PROCESSING USING MULTIPLE PAYMENT METHODS

• US 20090112660A1
• Filed: 02/13/2008
• Published: 04/30/2009
• Est. Priority Date: 10/30/2007
• Status: Active Grant

• Current Assignee: Visa USA, Inc. (Visa, Inc.)
• Original Assignee: Visa USA, Inc. (Visa, Inc.)
• Inventors: MULLEN, MATTHEW, MARCHETTI, JOHN N.
• Granted Patent: US 8,311,914 B2
• Time in Patent Office: Days
• US Class Current: 705/7
• CPC Class Codes: G06Q 20/227 characterised in that multiple accounts are available, e.g. to the payer
• CPC Class Codes: G06Q 30/04 Billing or invoicing
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

A method begins by receiving an accounts payable data file from a client device. The method continues by determining whether a payables profile of a client associated with the client device is to be modified based on the accounts payable data file. The method continues by determining a level of service of the client when the payables profile is not to be modified. The method continues processing payment transactions for accounts payable contained in the accounts payable data file on behalf of the client in accordance with the payables profile via a wide area network when the level of service is a first level of service.

Claims

1. A method comprises:

receiving, by a payment entity device, an accounts payable data file from a client device;

determining, by the payment entity device, whether a payables profile of a client associated with the client device is to be modified based on the accounts payable data file;

when the payables profile is not to be modified, determining, by the payment entity device, a level of service of the client; and

when the level of service is a first level of service, processing, by the payment entity device, payment transactions for accounts payable contained in the accounts payable data file on behalf of the client in accordance with the payables profile via a wide area network.

2. The method of claim 1, wherein the determining whether the payables profile is to be modified comprises:

evaluating a preamble field of the accounts payable data file for an indication that the accounts payable data file includes altered associated payment data for at least one of a plurality of creditors.

3. The method of claim 1 further comprises:

when the payables profile is to be modified, accessing a section of the accounts payable data file to retrieve altered associated payment data for at least one of a plurality of creditors; and

for the at least one of the plurality of creditors, temporarily replacing associated payment data in the payables profile with the altered associated payment data, wherein the associated payment data includes at least one payment scheme for paying at least a portion of debt owed to the one of the plurality of creditors via at least one of;

a client credit card, a funds transfer, commercial paper, tangible consideration, and a debit account.

4. The method of claim 1, wherein, when the level of service is the first level of service, the processing the payment transactions comprises:

determining, from the accounts payable data file, at least some of;

invoice number, creditor information, identification of acquired goods or services, debt amount, and payment date for an account payable of the accounts payable;

accessing the payables profile based on the creditor information to retrieve associated payment data for a creditor; and

setting up a payment for the account payable in accordance with the associated payment data for the acquired goods or services to be executed on or about the payment date.

5. The method of claim 1 further comprises:

receiving payment transaction data for each of the accounts payable from one or more financial institution devices;

compiling the payment transaction data into payment categories; and

generating payment reports in accordance with the payment categories.

6. The method of claim 1, wherein, when the level of service is a second level of service, the processing the payment transactions comprises:

for a creditor of an account payable of the accounts payable, determining associated payment data from the payables profile, wherein the associated payment data includes at least one payment scheme for paying at least a portion of debt owed to the creditor of the account payable via at least one of;

a client credit card, a funds transfer, commercial paper, tangible consideration, and a debit account;

comparing the at least one payment scheme with a plurality of payment programs; and

when at least one of the plurality of payment programs compares favorably to a payment scheme of the at least one payment scheme, utilizing the at least one of the plurality of payment programs instead of the payment scheme.

7. The method of claim 6 further comprises:

determining, from the accounts payable data file, at least some of;

invoice number, creditor information, identification of acquired goods or services, debt amount, and payment date for the account payable;

accessing the payables profile based on the creditor information to retrieve associated payment data for a creditor; and

setting up a payment for the account payable in accordance with the at least one of the plurality of payment programs instead of the payment scheme and any remaining payment programs of the associated payment data for the acquired goods or services to be executed on or about the payment date.

8. The method of claim 1 further comprises:

requesting updated or new payment program information from a plurality of financial institution devices;

receiving, from one or more of the plurality of financial institution devices, updated or new payment program data; and

storing the updated or new payment program data.

9. A method comprises:

receiving, by a payment entity device, an accounts payable data file from a client device;

retrieving, by the payment entity device, a payables profile of a client associated with the client device, wherein the payables profile includes a file containing a plurality of creditors and at least one associated payment scheme for each of the plurality of creditors, wherein, for a creditor of the plurality of creditors, the at least one associated payment scheme indicates a method for paying at least a portion of debt owed to the creditor via at least one of;

a client credit card, a funds transfer, commercial paper, tangible consideration, and a debit account; and

processing, by the payment entity device, payment transactions for accounts payable contained in the accounts payable data file on behalf of the client in accordance with the payables profile.

10. The method of claim 9, wherein the retrieving the payables profile comprises:

determining whether the payables profile is to be modified;

when the payables profile is to be modified, accessing a section of the accounts payable data file to retrieve altered associated payment data for at least one of a plurality of creditors; and

for the at least one of the plurality of creditors, temporarily replacing associated payment data in the payables profile with the altered associated payment data, wherein the associated payment data includes at least one payment scheme for paying at least a portion of debt owed to the one of the plurality of creditors via at least one of;

a client credit card, a funds transfer, commercial paper, tangible consideration, and a debit account.

11. The method of claim 9, wherein the processing the payment transactions comprises:

determining, from the accounts payable data file, at least some of;

invoice number, creditor information, identification of acquired goods or services, debt amount, and payment date for an account payable of the accounts payable;

accessing the payables profile based on the creditor information to retrieve associated payment data for a creditor; and

setting up a payment for the account payable in accordance with the associated payment data for the acquired goods or services to be executed on or about the payment date.

12. The method of claim 9 further comprises:

receiving payment transaction data for each of the accounts payable from one or more financial institution devices;

compiling the payment transaction data into payment categories; and

generating payment reports in accordance with the payment categories.

13. The method of claim 9, wherein the processing the payment transactions comprises:

for a creditor of an account payable of the accounts payable, determining associated payment data from the payables profile, wherein the associated payment data includes at least one payment scheme for paying at least a portion of debt owed to the creditor of the account payable via at least one of;

a client credit card, a funds transfer, commercial paper, tangible consideration, and a debit account;

comparing the at least one payment scheme with a plurality of payment programs;

when at least one of the plurality of payment programs compares favorably to a payment scheme of the at least one payment scheme, utilizing the at least one of the plurality of payment programs instead of the payment scheme.

14. The method of claim 13 further comprises:

determining, from the accounts payable data file, at least some of;

invoice number, creditor information, identification of acquired goods or services, debt amount, and payment date for the account payable;

accessing the payables profile based on the creditor information to retrieve associated payment data for a creditor; and

setting up a payment for the account payable in accordance with the at least one of the plurality of payment programs instead of the payment scheme and any remaining payment programs of the associated payment data for the acquired goods or services to be executed on or about the payment date.

15. The method of claim 9 further comprises:

requesting updated or new payment program information from a plurality of financial institution devices;

receiving, from one or more of the plurality of financial institution devices, updated or new payment program data; and

storing the updated or new payment program data.

16. An apparatus comprises:

a processing module; and

memory coupled to the processing module, wherein the processing module, at least partially based on operational instructions stored in the memory, functions to;

receive an accounts payable data file from a client device;

determine whether a payables profile of a client associated with the client device is to be modified based on the accounts payable data file;

when the payables profile is not to be modified, determine a level of service of the client; and

when the level of service is a first level of service, process payment transactions for accounts payable contained in the accounts payable data file on behalf of the client in accordance with the payables profile via a wide area network.

17. The apparatus of claim 16, wherein the processing module further functions to:

when the payables profile is to be modified, access a section of the accounts payable data file to retrieve altered associated payment data for at least one of a plurality of creditors; and

for the at least one of the plurality of creditors, temporarily replace associated payment data in the payables profile with the altered associated payment data, wherein the associated payment data includes at least one payment scheme for paying at least a portion of debt owed to the one of the plurality of creditors via at least one of;

a client credit card, a funds transfer, commercial paper, tangible consideration, and a debit account.

18. The apparatus of claim 16, wherein, when the level of service is the first level of service, the processing module processes the payment transactions by:

determining, from the accounts payable data file, at least some of;

invoice number, creditor information, identification of acquired goods or services, debt amount, and payment date for an account payable of the accounts payable;

accessing the payables profile based on the creditor information to retrieve associated payment data for a creditor; and

setting up a payment for the account payable in accordance with the associated payment data for the acquired goods or services to be executed on or about the payment date.

19. The apparatus of claim 16, wherein the processing module further functions to:

receive payment transaction data for each of the accounts payable from one or more financial institution devices;

compile the payment transaction data into payment categories; and

generate payment reports in accordance with the payment categories.

20. The apparatus of claim 16, wherein, when the level of service is a second level of service, the processing module processes the payment transactions by:

for a creditor of an account payable of the accounts payable, determining associated payment data from the payables profile, wherein the associated payment data includes at least one payment scheme for paying at least a portion of debt owed to the creditor of the account payable via at least one of;

a client credit card, a funds transfer, commercial paper, tangible consideration, and a debit account;

comparing the at least one payment scheme with a plurality of payment programs;

when at least one of the plurality of payment programs compares favorably to a payment scheme of the at least one payment scheme, utilizing the at least one of the plurality of payment programs instead of the payment scheme;

determining, from the accounts payable data file, at least some of;

invoice number, creditor information, identification of acquired goods or services, debt amount, and payment date for the account payable;

accessing the payables profile based on the creditor information to retrieve associated payment data for a creditor; and

setting up a payment for the account payable in accordance with the at least one of the plurality of payment programs instead of the payment scheme and any remaining payment programs of the associated payment data for the acquired goods or services to be executed on or about the payment date.

21. An apparatus comprises:

a processing module; and

memory coupled to the processing module, wherein the processing module, at least partially based on operational instructions stored in the memory, functions to;

receive an accounts payable data file from a client device;

retrieve a payables profile of a client associated with the client device, wherein the payables profile includes a file containing a plurality of creditors and at least one associated payment scheme for each of the plurality of creditors, wherein, for a creditor of the plurality of creditors, the at least one associated payment scheme indicates a method for paying at least a portion of debt owed to the creditor via at least one of;

a client credit card, a funds transfer, commercial paper, tangible consideration, and a debit account; and

process payment transactions for accounts payable contained in the accounts payable data file on behalf of the client in accordance with the payables profile.

22. The apparatus of claim 21, wherein the processing module retrieves the payables profile by:

determining whether the payables profile is to be modified;

when the payables profile is to be modified, accessing a section of the accounts payable data file to retrieve altered associated payment data for at least one of a plurality of creditors; and

for the at least one of the plurality of creditors, temporarily replacing associated payment data in the payables profile with the altered associated payment data, wherein the associated payment data includes at least one payment scheme for paying at least a portion of debt owed to the one of the plurality of creditors via at least one of;

a client credit card, a funds transfer, commercial paper, tangible consideration, and a debit account.

23. The apparatus of claim 21, wherein the processing module processes the payment transactions by:

determining, from the accounts payable data file, at least some of;

invoice number, creditor information, identification of acquired goods or services, debt amount, and payment date for an account payable of the accounts payable;

accessing the payables profile based on the creditor information to retrieve associated payment data for a creditor; and

setting up a payment for the account payable in accordance with the associated payment data for the acquired goods or services to be executed on or about the payment date.

24. The apparatus of claim 21, wherein the processing module further functions to:

receive payment transaction data for each of the accounts payable from one or more financial institution devices;

compile the payment transaction data into payment categories; and

generate payment reports in accordance with the payment categories.

25. The apparatus of claim 21, wherein the processing module processes the payment transactions by:

for a creditor of an account payable of the accounts payable, determining associated payment data from the payables profile, wherein the associated payment data includes at least one payment scheme for paying at least a portion of debt owed to the creditor of the account payable via at least one of;

a client credit card, a funds transfer, commercial paper, tangible consideration, and a debit account;

comparing the at least one payment scheme with a plurality of payment programs;

when at least one of the plurality of payment programs compares favorably to a payment scheme of the at least one payment scheme, utilizing the at least one of the plurality of payment programs instead of the payment scheme;

determining, from the accounts payable data file, at least some of;

invoice number, creditor information, identification of acquired goods or services, debt amount, and payment date for the account payable;

accessing the payables profile based on the creditor information to retrieve associated payment data for a creditor; and

setting up a payment for the account payable in accordance with the at least one of the plurality of payment programs instead of the payment scheme and any remaining payment programs of the associated payment data for the acquired goods or services to be executed on or about the payment date.