×

Payment entity account set up for multiple payment methods

  • US 8,311,913 B2
  • Filed: 02/13/2008
  • Issued: 11/13/2012
  • Est. Priority Date: 10/30/2007
  • Status: Active Grant
First Claim
Patent Images

1. A method for creating a payables profile in an automated accounts payable process, the method comprising:

  • receiving payable process data at a payment entity device that is configured to facilitate payment and reconciliation of accounts payable from a client device that is operated by a client that pays a plurality of creditors, wherein the payable process data includes identification information for the plurality of creditors and associated payment data for each of the plurality of creditors, wherein the associated payment data includes at least a first payment scheme for a first type of transaction with a first creditor of the plurality of creditors and a second payment scheme for a second type of transaction with a second creditor of the plurality of creditors;

    wherein the first payment scheme includes at least one of;

    a client credit card, a funds transfer, commercial paper, tangible consideration, and a debit account and the second payment scheme includes a different one of;

    a business credit card, a funds transfer, commercial paper, monetary consideration such as a rebate, refund, or exchange, and a debit account;

    wherein the first type of transaction includes individual transactions corresponding to a first category of services or goods, and wherein the second type of transaction includes individual transactions within a value threshold;

    generating a payables profile for the client by the payment entity device based on the payables process data;

    determining, by the payment entity device, whether the client device is associated with a level of service comprising a first level of service or another level of service that is not the first level of service;

    in response to a determination of the first level of service, determining by the payment entity device;

    that the payables process data identifies multiple payment methods, and in response to determining multiple methods of payment for a selected creditor, storing a payment scheme, by the payment entity device, for portions of debt owed to the selected creditor in accordance with the multiple methods of payment and repeating for each creditor identified in the payables process data;

    orthat the payables process data indentifies a single method of payment, and storing a payment scheme, by the payment entity device, for each creditor identified in the payables process data;

    in response to a determination of another level of service that is not the first level of service, performing a process by the payment entity device in which the payables profile may be changed based on payment program data that is generated by the payment entity device; and

    wherein the payment schemes are stored in the payables profile at the payment entity device, such that the payment entity device responds to payment data from the client device by generating a first payment of the first creditor by the first payment scheme for the first type of transaction and by generating a second payment of the second creditor by the second payment scheme for the second type of transaction in accordance with the payables process data.

View all claims
  • 1 Assignment
Timeline View
Assignment View
    ×
    ×