Patent ID: 7765156
Filing Date: 2010-07-27
Classification: G06Q

Abstract:
1. A method for processing a payment having a variable payment term from a financial account, comprising: receiving, at a processing device, from a buyer having a financial account, an identification of a seller's invoice including an invoiced amount and a first payment term; receiving, at the processing device, from the buyer, an approval to pay the seller's invoice using the financial account on a first date corresponding to the first payment term, wherein the first payment term has a corresponding first financing fee; receiving, at the processing device, from the seller, a request to receive payment on the invoice on a second date corresponding to a second payment term, wherein the second payment term is shorter than the first payment term; determining, at the processing device, a second financing fee based on the second payment term, wherein the second financing fee is greater than the first financing fee; providing, at the processing device, to the supplier, a payment for the invoice from the financial account on the second date, the payment corresponding to the second financing fee; and charging, at the processing device, the buyer the invoiced amount on the first date.