Patent ID: 6169974
Filing Date: 2001-01-02
Classification: G06Q

Abstract:
A computer-implemented method for processing transactions between specific cost centers and an in-house supply facility of a business entity utilizing a bank card association functioning in conjunction with a financial entity's computerized processor which financial entity has both a merchant acquirer and a credit card issuer, the method comprising the steps of: generating transaction information for each transaction between said cost centers and said supply facility, said transaction information including at least data identifying the business entity cost center which initiated the transaction, the amount of the transaction, and the date of the transaction, transmitting said transaction information to a network services host computer which provides authorization data for said transactions, transferring said transaction information from said network services host computer to a merchant accounting system, transferring said transaction information from said merchant accounting system to said bank card association, transferring at least a part of said transaction information from said bank card association to said credit card issuer, after receipt of said transaction information by said credit card issuer, transferring transaction funds, which correspond to said transaction amounts transferred from said credit card issuer to said bank card association, transferring said transaction funds from said bank card association to said merchant accounting system, transferring said transaction funds from said merchant accounting system to said merchant acquirer, transferring said transaction funds from said merchant acquirer to said credit card issuer to offset said transaction funds previously transferred from said credit card issuer to said back card association, producing a report of said transactions by said credit card issuer, said report including for each said transaction at least data indicating the transaction amount and the cost center involved in the transaction, and providing said transaction report in an electronic form to said business entity.