INVENTORY-BASED PAYMENT PROCESSING SYSTEM AND APPROACH
First Claim
1. An automated transaction processing system for processing business transactions involving buyers and providers and pertaining to an inventory of items to which merchant offerings in the transactions apply, the system comprising:
- a data storage arrangement configured and arranged to store buyer-specific profile information and contract data for each buyer, each of the respective contracts being defined as a function of one of the plurality of buyers and a predefined business relationship between the one buyer and at least one provider; and
a transaction processor arrangement adapted to process transactions involving merchant offerings subject to an inventory according to the stored contract data and profile information, the transaction processor arrangement includingan auditing engine configured and arranged to audit a transaction involving a buyer and at least one provider using transaction data, inventory data corresponding to an inventory to which the transaction applies, and stored contract data for the transaction,a payment processor configured and arranged to process payment for a transaction on behalf of the buyer in response to the auditing function indicating that payment is appropriate for the transaction, anda fee assessment engine configured and arranged to assess a transaction processing fee against at least one of the parties to the transaction for which a payment is processed.
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Accused Products
Abstract
Transaction management for financial institution-based transactions is facilitated in various example embodiments. According to one such embodiment, a transaction management approach involves the processing of financial aspects of a transaction using transaction rules associated with a buyer for auditing the transaction and any associated invoices. A processor arrangement processes transactions for merchant offerings subject to a related set of inventory data by auditing the transactions relative to inventory data corresponding to an inventory to which the transaction applies and stored contract data for the transaction, by processing payment in response thereto, and by assessing a processing fee against one or more parties to the transaction.
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Citations
20 Claims
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1. An automated transaction processing system for processing business transactions involving buyers and providers and pertaining to an inventory of items to which merchant offerings in the transactions apply, the system comprising:
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a data storage arrangement configured and arranged to store buyer-specific profile information and contract data for each buyer, each of the respective contracts being defined as a function of one of the plurality of buyers and a predefined business relationship between the one buyer and at least one provider; and a transaction processor arrangement adapted to process transactions involving merchant offerings subject to an inventory according to the stored contract data and profile information, the transaction processor arrangement including an auditing engine configured and arranged to audit a transaction involving a buyer and at least one provider using transaction data, inventory data corresponding to an inventory to which the transaction applies, and stored contract data for the transaction, a payment processor configured and arranged to process payment for a transaction on behalf of the buyer in response to the auditing function indicating that payment is appropriate for the transaction, and a fee assessment engine configured and arranged to assess a transaction processing fee against at least one of the parties to the transaction for which a payment is processed. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14)
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15. For use in an automated transaction processing system that processes business transactions involving buyers and providers relative to an inventory of items to which merchant offerings in the transactions apply, a system comprising:
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a data storage means for storing buyer-specific profile information and contract data for each buyer, each of the respective contracts being defined as a function of one of the plurality of buyers and a predefined business relationship between the one buyer and at least one provider; and a transaction processing means for processing transactions involving merchant offerings subject to an inventory according to the stored contract data and profile information, the transaction processor processing means also for auditing a transaction involving a buyer and at least one provider using transaction data, inventory data corresponding to an inventory to which the transaction applies, and stored contract data for the transaction, processing payment for a transaction on behalf of the buyer in response to the auditing function indicating that payment is appropriate for the transaction, and assessing a transaction processing fee against at least one of the parties to the transaction for which a payment is processed.
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16. For use in an automated transaction processing system that processes business transactions involving buyers and providers relative to an inventory of items to which merchant offerings in the transactions apply, a method comprising:
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using a data storage arrangement, storing buyer-specific profile information and contract data for each buyer, each of the respective contracts being defined as a function of one of the plurality of buyers and a predefined business relationship between the one buyer and at least one provider; and using a computer processing arrangement, processing transactions involving merchant offerings subject to an inventory according to the stored contract data and profile information, auditing a transaction involving a buyer and at least one provider using transaction data, inventory data corresponding to an inventory to which the transaction applies, and stored contract data for the transaction, processing payment for a transaction on behalf of the buyer in response to the auditing function indicating that payment is appropriate for the transaction, and assessing a transaction processing fee against at least one of the parties to the transaction for which a payment is processed. - View Dependent Claims (17, 18, 19, 20)
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Specification