The invention concerns a multiparty accounts receivable and accounts payable system that allows business trading partners to use a single, shared system for both accounts receivable and accounts payable management. The system of the invention forms an electronic “bridge” between a plurality of business trading partners for purposes of invoicing, dispute resolution, financing, and settlement of single and multiple currency debts. As the invoicing and settlement activities of the participants are funneled through a common system, the system allows a participant to aggregate all debts owed to other participants, aggregate all debts owed by the other participants, and net debts owed to other participants with debts owed by these participants. After aggregation and netting, the participant issues a single payment to settle numerous accounts payable items, and receives a single payment that settles numerous accounts receivable items. The system allows participants to use the substantial amount of financial and cash flow information captured by the system to borrow more efficiently by permitting lenders to view this information. Furthermore, the system provides a confirmation process to convert existing debt obligations into a new, independent payment obligation due on a date certain and free of any defenses to the underlying contract. The confirmed debt obligations provide a better source of working capital for the participants, or can be converted into electronic promissory notes. The system provides an electronic exchange for electronic promissory notes, allowing participants to raise working capital in various ways, for example, by selling them.

Electronic multiparty accounts receivable and accounts payable system

The invention provides systems and methods for managing transactions. The system includes a data input portion that communicates first information regarding a payment request, as well as a decision reference data store for communicating second information regarding parameters for use in determining a payment option for the payment request. The system also includes a processor. The processor inputs the first information and the second information. Then, the processor selectably determines the payment option to direct a transmission of funds from at least one payment source to at least one payee account based on an optimization determination performed by the processor. The optimization determination may provide savings to the institution processing the transaction, or alternatively, may provide savings to the customer initiating the transaction, for example.

System and method for optimized funding of electronic transactions

A payment service method and system involve a payment service provider, a customer/payor and a consumer provider/payee. The customer/payor enrolls in the service and is provided a unique identifier that enables the customer to conduct transactions with the payment service provider. The customer/payor interfaces with the payment service provider through various forms of communication, and can facilitate payments to the consumer providers/payees through the payment service provider while remaining anonymous.

Electronic identifier payment systems and methods

A point-of-sale device useful in relation to a variety of circumstances and/or utilization methods. Various implementations of such point-of-sale devices are disclosed. For example, one particular point-of-sale device includes a base unit adapted for performing merchant functions and a peripheral unit adapted to perform customer functions. The base unit can include a base unit housing with a processor disposed therein and capable of supporting a variety of transaction types.

Systems and methods for performing transactions at a point-of-sale

Among other things, the present invention provides a variety of systems and methods for effectuating transactions using a point-of-sale device. The present invention is applicable to a broad range of transaction types including but not limited to, money or other value transfers, value transfers, check acceptance protocols, loyalty program utilization, fraud detection, and the like. The methods of the present invention provide the ability to fulfill the various transaction types through access to one or more transaction systems accessible to the point-of-sale device. Thus, in some instances, a common point-of-sale device can be used to effectuate different transaction types depending upon which transaction systems are accessible to the point-of-sale device.

Systems and methods for utilizing a point-of-sale system

A system for facilitating customer payments to creditors from a remote site includes computer systems located at respective agent, service provider and creditor sites. The service provider or host computer system is in selective communication with the agent and creditor computer systems and processes transaction information. A customer typically visits an agent site (e.g., a retail establishment) and tenders payment, preferably manually, in response to receiving a billing statement from a creditor. The payment transaction is entered into the agent system wherein information for all payment transactions at that agent site is maintained in a transaction file. The agent system generates a receipt for the customer at the completion of the transaction. Each agent system transfers a respective transaction file to the host system daily at a specified time associated with the respective agent system, preferably at the end of a day, wherein the host system processes the transaction files to generate a closeout report and a creditor report for each creditor indicating the payment activity at the agent sites. The creditor reports are transferred to the creditor systems wherein customer accounts may be updated based on the payment information within the creditor reports. The closeout report includes information related to the payment activity at each agent site and is generated by the host system at another specified time, preferably after the transaction information has been received by the host system from each of the agent systems. The service provider typically pays the creditors via electronic fund transfer or other conventional payment methods. The agents pay the service provider in a similar fashion while remitting to the service provider a portion of a service fee charged to the customer.

Milton Mersky

Papers

Method and apparatus for facilitating customer payments to creditors from a remote site