SYSTEM AND METHOD TO REALIZE INSTANT, GUARANTEED PAYMENTS FOR BUSINESS-To-BUSINESS (B2B)

• US 20110106704A1
• Filed: 10/29/2010
• Published: 05/05/2011
• Est. Priority Date: 10/29/2009
• Status: Abandoned Application

• Current Assignee: Mark Silbernagel, Rene Babi
• Original Assignee: Mark Silbernagel, Rene Babi
• Inventors: Babi, Rene, Silbernagel, Mark
• Application Number:
  US12/916,385
• Publication Number:
  US 20110106704A1
• Time in Patent Office: Days
• US Class Current: 705/44
• CPC Class Codes: G06Q 20/02 involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
• 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 30/04 Billing or invoicing
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

A method is disclosed for transferring funds between two business entities. The method includes the steps of including a first business entity transmitting a purchase order to a second business entity, the second business entity transmitting an authorization request to a payment processor, sequestering a first amount of money in an account associated with the first business entity, based in part on an amount indicated in the purchase order, granting preliminary access to a second amount of money in an account associated with the second business entity, and removing the sequestered first amount of money from the account associated with the first business entity and depositing the second amount of money to the account associated with the second business entity.

Claims

1. A method for transferring funds, comprising:

a first business entity transmitting a purchase order to a second business entity;

the second business entity transmitting an authorization request to a payment processor;

the payment processor sequestering a first amount of money in an account associated with the first business entity, based in part on an amount indicated in the purchase order;

the payment processor granting preliminary access to a second amount of money in an account associated with the second business entity; and

the payment processor removing the sequestered first amount of money from the account associated with the first business entity and depositing the second amount of money to the account associated with the second business entity.

2. The method according to claim 1, where the first amount of money is identical to the second amount of money.

3. The method according to claim 1, additionally comprising the second business entity fulfilling the terms associated with the purchase order.

4. The method according to claim 3, where the step of fulfilling the terms associated with the purchase order comprises:

the second business entity delivering goods to the first business entity;

the first business entity examining the goods; and

the first business entity transmitting the status of the goods to the payment processor.

5. The method according to claim 4, where the first business entity transmits data to the payment processor indicating the purchase order is fulfilled.