System and method for invoice confirmation and funding
US7353203B1 · kind B1 · utility
95Cited by
5References
19Claims
0Family size
Assignee
Inventors
Key dates
| Filing date | Nov 15, 2000 |
| Grant date | Apr 1, 2008 |
| Priority date | — |
| Expiry date | Dec 16, 2024 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q20/24
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A system and method are disclosed for billers and payers to manage accounts receivable for business-to-business payments using a third-party intermediary. The system enables billers to be paid faster and payers to delay payment, while also minimizing the risk of default to the intermediary. The advantages of the present system and method stem from direct authorization by the payer to the intermediary, a nonrepudiable commitment by the payer, and dual recourse for the third-party intermediary, without the need for explicit payment contracts between billers and payers.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.