Transaction payables processing system and approach
US7725372B2 · kind B2 · utility
Assignee
Inventor
Key dates
| Filing date | Oct 4, 2007 |
| Grant date | May 25, 2010 |
| Priority date | — |
| Expiry date | Oct 4, 2027 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/12
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
Transaction management for financial institution-based transactions is facilitated. According to an example embodiment of the present invention, a transaction management approach involves the processing of financial aspects of transactions for a plurality of buyers using transaction rules associated with each buyer for automatically auditing each transaction (for each buyer) and any associated invoices. When a transaction or series of transactions are approved for payment for a particular buyer, the payment is automatically facilitated on behalf of the particular buyer. A fee is then assessed for each transaction or series of transactions, to one or more of the particular buyer, involved seller (or sellers), and a sponsor of the buyer that sponsors the buyer's participation.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.