Invoiceless trading and settlement method and system
DC CAFCFirst Claim
1. A system comprising:
- one or more bank servers configured to electronically receive one or more messages, the one or more messages relating to an order between a customer and a supplier, the one or more messages comprising supplier data and an order amount;
storage configured to store, for the order, at least some of the supplier data and the order amount;
one or more computer processors configured to determine an incentive amount based at least in part on one or more fiscal attributes of the customer; and
a payment gateway configured to electronically transfer on a first date an early payment for the order to a bank computer associated with the suppler, wherein the early payment is less than the order amount by the incentive amount, the early payment transferred within a shortened settlement period.
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Abstract
Methods and systems consistent with the present invention overcome the shortcomings of existing trading systems by providing an invoiceless trading system that creates incentives for customers to pay suppliers within a predetermined period of time, such as a settlement period. Specifically, the invoiceless trading system enables a customer to obtain a discount on orders placed with suppliers in return for an immediate payment (e.g., within 24 hours) by the customer. The supplier receives payment within the predetermined period of time, and the customer receives additional cash benefits by providing an early payment to the supplier. To communicate with and transfer funds between customers and suppliers, the invoiceless trading system may use an electronic gateway and a settlement bank. In addition to creating an incentive to embrace e-commerce, both customers and suppliers avoid the need to manually process orders and use invoices to complete transactions.
65 Citations
21 Claims
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1. A system comprising:
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one or more bank servers configured to electronically receive one or more messages, the one or more messages relating to an order between a customer and a supplier, the one or more messages comprising supplier data and an order amount; storage configured to store, for the order, at least some of the supplier data and the order amount; one or more computer processors configured to determine an incentive amount based at least in part on one or more fiscal attributes of the customer; and a payment gateway configured to electronically transfer on a first date an early payment for the order to a bank computer associated with the suppler, wherein the early payment is less than the order amount by the incentive amount, the early payment transferred within a shortened settlement period. - View Dependent Claims (2, 3, 4, 5, 6, 7)
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8. A system comprising:
an interface configured to electronically transmit one or more messages from a customer computer to one or more bank servers, the one or more bank servers configured to electronically receive the one or more messages, the one or more messages relating to an order between a customer and a supplier, the one or more messages comprising supplier data and an order amount, wherein the at least some of the supplier data and the order amount are stored in one or more storage devices associated with at least one of the one or more bank servers, and wherein on a first date an early payment is electronically transferred to a supplier bank server associated with a bank account associated with the supplier, wherein the early payment is less than the order amount by the incentive amount, the early payment transferred within a shortened settlement period. - View Dependent Claims (9, 10, 11, 12, 13, 14)
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15. A payment message received by one or more bank servers, the payment message relating to an order between a customer and a supplier, the payment message comprising:
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supplier data; and an order amount, wherein upon confirmation of the order, the payment message enables the supplier to electronically receive an early payment for the order, the early payment received on a first date, wherein the early payment is less than the order amount by an incentive amount, the incentive amount determined by at least one processor based at least in part on one or more fiscal attributes of the customer, the early payment transferred within a shortened settlement period. - View Dependent Claims (16, 17, 18, 19, 20, 21)
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Specification