Method and system for providing buyer bank payable discounting services
First Claim
1. A computer readable medium stored on a server computer, which executes:
- control logic on the computer readable medium for monitoring a plurality of transactions between a buyer and a seller, wherein for each transaction, a payment is owed by the buyer to the seller;
control logic on the computer readable medium for providing a payment instruction to the buyer for one or more transactions in the plurality of transactions;
control logic on the computer readable medium for receiving a request from the buyer for buyer assurance by a buyer bank for the one or more transactions in the plurality of transactions;
control logic on the computer readable medium for locking down the one or more transactions for which assurance has been requested by the buyer; and
control logic on the computer readable medium for allowing the buyer bank to offer buyer bank payable discounting (BBPD) to the seller using information collected from monitoring the plurality of transactions;
wherein the buyer bank handles processing of payables for the plurality of transactions on behalf of the buyer;
wherein the control logic configured to allow the buyer bank to offer buyer bank payable discounting (BBPD) to the seller further comprises;
control logic on the computer readable medium for displaying to the seller transactions that qualify for BBPD from the buyer bank and allow the seller to request BBPD for one or more transactions selected from the qualified transactions;
control logic on the computer readable medium for allowing the buyer bank to approve the selected one or more transactions for BBPD; and
control logic on the computer readable medium for allowing the buyer bank to identify the transactions that qualify for BBPD before they are displayed to the seller.
1 Assignment
0 Petitions
Accused Products
Abstract
A system for conducting commercial transactions between buyers and sellers is disclosed. The system includes a transaction processing system for facilitating payment for transactions between buyers and the sellers. In addition to the buyer and the seller, the transaction processing system also interacts with issuers and acquirers. The transaction processing system monitors and manages payment information relating to transactions conducted between buyers and sellers. Using such information, the transaction processing system further offers a number of additional financing services including, for example, buyer payment assurance, buyer bank payment assurance, buyer bank payable discounting, buyer bank payable discount aggregation, seller/receivable financing and seller bank receivable discount aggregation.
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Citations
23 Claims
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1. A computer readable medium stored on a server computer, which executes:
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control logic on the computer readable medium for monitoring a plurality of transactions between a buyer and a seller, wherein for each transaction, a payment is owed by the buyer to the seller; control logic on the computer readable medium for providing a payment instruction to the buyer for one or more transactions in the plurality of transactions; control logic on the computer readable medium for receiving a request from the buyer for buyer assurance by a buyer bank for the one or more transactions in the plurality of transactions; control logic on the computer readable medium for locking down the one or more transactions for which assurance has been requested by the buyer; and control logic on the computer readable medium for allowing the buyer bank to offer buyer bank payable discounting (BBPD) to the seller using information collected from monitoring the plurality of transactions; wherein the buyer bank handles processing of payables for the plurality of transactions on behalf of the buyer; wherein the control logic configured to allow the buyer bank to offer buyer bank payable discounting (BBPD) to the seller further comprises; control logic on the computer readable medium for displaying to the seller transactions that qualify for BBPD from the buyer bank and allow the seller to request BBPD for one or more transactions selected from the qualified transactions; control logic on the computer readable medium for allowing the buyer bank to approve the selected one or more transactions for BBPD; and control logic on the computer readable medium for allowing the buyer bank to identify the transactions that qualify for BBPD before they are displayed to the seller. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11)
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12. A system for providing payable discounting services, the system being used by a plurality of buyers, a plurality of sellers, and a plurality of buyer banks handling payable processing for the plurality of buyers, the system comprising:
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means for monitoring a plurality of transactions conducted between the plurality of buyers and the plurality of sellers, wherein for each transaction, a payment is owed by a buyer to a seller; means for allowing the buyer to request buyer assurance from a buyer bank for one or more transactions in the plurality of transactions; means for locking down transactions for which assurance has been requested by the buyer; means for allowing the plurality of buyer banks to offer buyer bank payable discounting (BBPD) to one or more of the plurality of sellers using information collected from monitoring the plurality of transactions; means for displaying one or more of the plurality of sellers respectively transactions that qualify for BBPD from one or more of the plurality of buyer banks; means for receiving a BBPD request from the one or more of the plurality of sellers for one or more transactions selected from the qualified transactions, wherein the seller is only able to request BBPD from the buyer bank if that buyer bank has one or more payables from corresponding transactions owed to the seller; means for receiving a BBPD approval for the selected one or more transactions from the one or more of the plurality of buyer banks; and means for receiving identification from the plurality of buyer banks regarding the transactions that qualify for BBPD before they are displayed to the one or more of the plurality of sellers. - View Dependent Claims (13, 14, 15, 16, 17, 18, 19)
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20. A system comprising:
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an invoice pre-processor configured to receive a plurality of invoices in an electronic format and generate standard invoice files for the plurality of invoices; a payment manager coupled to the invoice pre-processor and configured to receive the standard invoices files, wherein the payment manager is further configured to generate payment instructions for the standard invoice files; a pricing engine coupled to the payment manager, wherein the pricing engine is configured to receive the payment instructions and determine transaction fees associated with the payment instructions, wherein the transaction fees are based on terms and conditions stored in a database coupled to the pricing engine; an authorization and settlement interface coupled to the pricing engine and configured to communicate with a data transport and processing network; and a computer readable medium stored on a server, which executes control logic on the computer readable medium for monitoring a plurality of transactions between a buyer and a seller, wherein for each transaction, a payment is owed by the buyer to the seller; control logic on the computer readable medium for sending a payment instruction to the buyer for one or more transactions in the plurality of transactions; control logic on the computer readable medium for receiving a request from the buyer for buyer assurance from a buyer bank for the one or more transactions in the plurality of transactions; control logic on the computer readable medium for locking down transactions for which assurance has been requested by the buyer; and control logic on the computer readable medium for allowing the buyer bank to offer buyer bank payable discounting (BBPD) to the seller using information collected from monitoring the plurality of transactions; wherein the buyer bank handles processing of payables for the plurality of transactions on behalf of the buyer. - View Dependent Claims (21, 22, 23)
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Specification