Invoiceless trading and settlement method and system

  • US 9,811,817 B2
  • Filed: 06/20/2014
  • Issued: 11/07/2017
  • Est. Priority Date: 05/03/1999
  • Status: Expired due to Term
First Claim
Patent Images

1. A computer implemented method, the method comprising:

  • receiving, on an authorization date and by a banking computer system, an electronic authorization, the electronic authorization relating to an invoice between a bank customer and a supplier, the authorization authorizing payment for an electronic invoice with an invoice amount, the electronic invoice having an electronic invoice due date, the electronic invoice due date being after the authorization date;

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

    a fiscal attribute 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 at least the discounted payment amount from an account associated with the customer.

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