Payment entity for account payables processing using multiple payment methods

• US 8,560,417 B2
• Filed: 09/26/2012
• Issued: 10/15/2013
• 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 James, Marchetti, John Nicholas
• Primary Examiner(s): NGUYEN, TIEN C
• Application Number:
  US13/627,941
• Publication Number:
  US 20130138557A1
• Time in Patent Office: 384 Days
• Field of Search: 705/35, 705/37, 705/38, 705/39, 705/40, 705/44, 705/26
• US Class Current: 705/35
• 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 performed by a computing device, the method comprising:

receiving, by the computing device, an accounts payable data file for a client that pays a plurality of creditors, wherein the accounts payable data file includes a plurality of accounts payable entries, and wherein the plurality of accounts payable entries includes associated creditor information;

determining, by the computing device, payment schemes for the plurality of accounts payable entries, wherein the payment schemes are determined based on the received accounts payable data file and a stored payables profile for the client;

determining, by the computing device, whether the client is associated with a first level of service or a second level of service;

initiating, by the computing device, payment transactions for the plurality of accounts payable entries,

wherein if the determined level of service is the first level of service, initiating the payment transactions comprises generating payment requests in accordance with the payment schemes determined based on the received accounts payable data file and the stored payables profile for the client,

wherein if the determined level of service is the second level of service, initiating the payment transactions comprises;

analyzing payment program data;

determining a more optimal payment scheme based on the payment program data; and

generating the payment requests in accordance with the more optimal payment scheme; and

transmitting, by the computing device, the payment requests to a financial institution device.

2. The method of claim 1, wherein the computing device is a payment entity device configured to facilitate payment and reconciliation of accounts payable.

3. The method of claim 1, wherein the computing device is a client device operated by the client.

4. The method of claim 1, wherein the payment schemes include one or more of:

a credit account, a debit account, a funds transfer, commercial paper, and monetary consideration.

5. The method of claim 1, wherein the first level of service corresponds to a basic account selected by the client during an enrollment process, and wherein the second level of service corresponds to an advanced account selected by the client during the enrollment process.

6. The method of claim 1, wherein the payment program data includes a list of financial institutions and corresponding payment types processed by the financial institutions.

7. The method of claim 6, wherein the payment program data further includes one or more of:

processing fees, interest rates, reward programs, and rebates associated with the payment types processed by the financial institutions.

8. The method of claim 1, wherein if the determined level of service is the second level of service, initiating the payment transactions further comprises:

providing the more optimal payment scheme to the client as a recommendation; and

receiving a selection from the client of the more optimal payment scheme before generating the payment requests in accordance with the more optimal payment scheme.

9. The method of claim 1, wherein if the determined level of service is the second level of service, the payment requests are automatically generated in accordance with the more optimal payment scheme.

10. The method of claim 1, wherein if the determined level of service is the second level of service, the stored payables profile for the client is modified to reflect the more optimal payment scheme.

11. A computing device comprising:

a processor; and

a memory coupled to the processor, wherein the memory comprises code executable by the processor for implementing a method comprising;

receiving, by the computing device, an accounts payable data file for a client that pays a plurality of creditors, wherein the accounts payable data file includes a plurality of accounts payable entries, and wherein the plurality of accounts payable entries includes associated creditor information;

determining, by the computing device, payment schemes for the plurality of accounts payable entries, wherein the payment schemes are determined based on the received accounts payable data file and a stored payables profile for the client;

determining, by the computing device, whether the client is associated with a first level of service or a second level of service;

initiating, by the computing device, payment transactions for the plurality of accounts payable entries,

wherein if the determined level of service is the first level of service, initiating the payment transactions comprises generating payment requests in accordance with the payment schemes determined based on the received accounts payable data file and the stored payables profile for the client,

wherein if the determined level of service is the second level of service, initiating the payment transactions comprises;

analyzing payment program data;

determining a more optimal payment scheme based on the payment program data; and

generating the payment requests in accordance with the more optimal payment scheme; and

transmitting, by the computing device, the payment requests to a financial institution device.

12. The computing device of claim 11, wherein the computing device is a payment entity device configured to facilitate payment and reconciliation of accounts payable.

13. The computing device of claim 11, wherein the computing device is a client device operated by the client.

14. The computing device of claim 11, wherein the payment schemes include one or more of:

a credit account, a debit account, a funds transfer, commercial paper, and monetary consideration.

15. The computing device of claim 11, wherein the first level of service corresponds to a basic account selected by the client during an enrollment process, and wherein the second level of service corresponds to an advanced account selected by the client during the enrollment process.

16. The computing device of claim 11, wherein the payment program data includes a list of financial institutions and corresponding payment types processed by the financial institutions.

17. The computing device of claim 16, wherein the payment program data further includes one or more of:

processing fees, interest rates, reward programs, and rebates associated with the payment types processed by the financial institutions.

18. The computing device of claim 11, wherein if the determined level of service is the second level of service, initiating the payment transactions further comprises:

providing the more optimal payment scheme to the client as a recommendation; and

receiving a selection from the client of the more optimal payment scheme before generating the payment requests in accordance with the more optimal payment scheme.

19. The computing device of claim 11, wherein if the determined level of service is the second level of service, the payment requests are automatically generated in accordance with the more optimal payment scheme.

20. The computing device of claim 11, wherein if the determined level of service is the second level of service, the stored payables profile for the client is modified to reflect the more optimal payment scheme.