Programmable joint payment guarantee financial instrument set
US7599884B2 · kind B2 · utility
4Cited by
6References
3Claims
0Family size
Assignee
Inventor
Key dates
| Filing date | May 16, 2002 |
| Grant date | Oct 6, 2009 |
| Priority date | — |
| Expiry date | Feb 8, 2026 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q20/10
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A number of implementations of a transaction settlement process are illustrated. A system verifies buyer, seller, and financial institution data and instructions. The system stores buyer credit information, and the joint transaction instructions of buyers, sellers, and financial institutions. The system verifies invoice data against the transaction instructions and the buyer's acceptance instructions, and choose, based on the inputs, whether electronic credit or money is sent to either a joint electronic account of the buyer and the seller, or to the electronic account of the seller.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.