Methods and systems for discounts management

• US 8,554,673 B2
• Filed: 12/01/2004
• Issued: 10/08/2013
• Est. Priority Date: 06/17/2004
• Status: Active Grant

• Current Assignee: JP Morgan Chase Bank, N.A. (JP Morgan Chase & Co)
• Original Assignee: JP Morgan Chase Bank, N.A. (JP Morgan Chase & Co)
• Inventors: McRae, Xuan, Lam, Duc, Roland, Matthew
• Primary Examiner(s): Ebersman, Bruce I
• Application Number:
  US11/002,334
• Publication Number:
  US 20050283437A1
• Time in Patent Office: 3,233 Days
• Field of Search: 705/35, 705/36, 705/37, 705/38, 705/39
• US Class Current: 705/40
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0222 During e-commerce, i.e. online transactions
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes

Abstract

An embodiment of the invention is directed to a computer implemented business method in an electronic system in which payment information is exchanged between a buyer and a seller. Approval is received from the buyer of an electronic invoice received by the buyer. At a time when no agreed upon discount is available based on the invoice or pre-agreed terms between the buyer and the seller, a request is received from the buyer to offer the seller early payment in exchange for a discount of the amount owed. The discount is based on an annual hurdle rate provided to the system by the buyer. The offer is presented to the seller on the seller'"'"'s user interface, and a clickable button is provided for the seller to indicate selection of such offer. In another embodiment of the invention, in an electronic system in which payment information is exchanged between buyers and at least a seller, an identification of a date upon which a seller would like to receive early payment is received through a computer input associated with the seller. Another embodiment of the invention is directed to a relationship between a buyer and a seller where there is a standard discount term, and there is also a discount term in a respective invoice. Another embodiment of the invention is directed to a method related to enrollment of a new seller in the system.

Claims

1. A computer-implemented method for conducting a payment exchange between a buyer and a seller, comprising:

routing, via a computer, an electronic invoice comprising information stored in a global database from the seller to the buyer;

receiving, via the computer, approval of the electronic invoice from the buyer;

receiving, via the computer, a request from the buyer to offer the seller early payment in exchange for a discount on an amount owed at a time when no agreed upon discount is available based on the electronic invoice or pre-agreed terms between the buyer and the seller, wherein the discount is based on a daily discount rate calculated as an annual hurdle rate divided by a number of calendar days per year, wherein the discount is specified by the buyer, and wherein the early payment is to be made on one or more selected days of a week specified by the buyer;

presenting to the seller on a user interface, via the computer, the electronic invoice the buyer has offered the seller early payment in exchange for the discount on the amount owed at a time when no agreed upon discount is available;

providing to the seller on the user interface, via the computer, a first selectable option associated with the electronic invoice that, when selected by the seller, allows the seller to view the discount; and

providing to the seller on the user interface, via the computer, a second selectable option that, when selected by the seller, allows the seller to accept the discount.

2. The method of claim 1, wherein information regarding a first available payment date is initially presented to the seller, and information regarding other payment dates is not initially presented to the seller.

3. The method of claim 1, wherein the electronic invoice is approved by the buyer after expiration of a discount term.

4. The method of claim 1, wherein the electronic invoice is approved by the buyer before the expiration of a discount term.

5. The method of claim 1, further comprising:

providing a user interface window to the buyer comprising an entry cell for the annual hurdle rate and a list of days of the week in which individual days can be selected by the buyer as days for payment in an offer to the seller.

6. The method of claim 1, further comprising:

receiving the seller'"'"'s acceptance of the offer for early payment through the second selectable option and, in response to such acceptance, effecting electronic payment from the buyer to the seller.

7. The method of claim 1, wherein the first selectable option comprises an indication thereon that payment to the seller is to be made immediately.

8. The method of claim 1, wherein the early payment is effected by an enterprise resource planning (ERP) system.