Invoiceless trading and settlement method and system

CAFC
  • US 8,515,867 B1
  • Filed: 03/15/2013
  • Issued: 08/20/2013
  • Est. Priority Date: 05/03/1999
  • Status: Expired due to Fees
First Claim
Patent Images

1. A system configured for electronic settlement of an order placed by a customer with a supplier comprising:

  • one or more bank servers, at least one of the one or more bank servers receives a message related to the order, the message comprising at least an order amount;

    a database associated with at least one of the one or more bank servers that stores the order amount;

    one or more processors associated with at least one of the one or more bank servers that determines an incentive amount, wherein the incentive amount is determined based at least in part on one or more fiscal attributes of the customer and the order amount; and

    a payment gateway associated with at least one of the one or more bank servers, the payment gateway electronically transfers to a supplier account on a first date an early payment for the order, the supplier account associated with the supplier, wherein the early payment is less than the order amount by at least the incentive amount, and the payment gateway that electronically receives a customer payment from a customer account on a second date, the customer account associated with the customer, wherein the customer payment is not less than the early payment plus an interest amount, wherein the interest amount is based at least in part on a credit period, wherein the credit period is an amount of time between the first date and the second date.

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