Invoiceless trading and settlement method and system

  • US 10,115,098 B2
  • Filed: 11/06/2017
  • Issued: 10/30/2018
  • Est. Priority Date: 05/03/1999
  • Status: Expired due to Term
First Claim
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1. A computer implemented method, the method comprising:

  • receiving, on an authorization date and by a server, an electronic authorization, the electronic authorization relating to an invoice between a customer and a supplier, the electronic authorization authorizing payment for the invoice, the invoice comprising an invoice amount and an invoice due date, the invoice due date being after the authorization date;

    based on the electronic authorization, a funds provider electronically transferring to a supplier account, on an early payment date, the early payment date being before the invoice due date, a discounted payment amount for settlement of the invoice, the discounted payment amount discounted from the invoice amount based at least on;

    one or more fiscal attributes of the customer; and

    a credit period, the credit period being an amount of time between the early payment date and the invoice due date; and

    after the credit period, electronically debiting a customer payment from an account associated with the customer, wherein the customer payment is at least the discounted payment amount.

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