Patent ID: 8571978
Filing Date: 2013-10-29
Classification: G06Q

Abstract:
1. A system comprising a server and a computer readable medium stored on the server for providing financing services, wherein the server executes: control logic on the computer readable medium configured to monitor a plurality of transactions between a buyer and a seller; control logic on the computer readable medium for sending a payment instruction to the buyer for one or more transactions in the plurality of transactions; control logic on the computer readable medium configured to provide the buyer with the ability to assign buyer-assured status to the one or more transactions after the buyer receives the payment instruction, wherein the buyer assured status indicates that payment for the one or more transactions is assured by the buyer and is an unconditional, irrevocable guarantee that payment will be made by the buyer on a specified date with certainty; control logic on the computer readable medium for storing terms and conditions relating to buyer assured status; control logic on the computer readable medium configured to provide the buyer with the ability to request assurance from a buyer bank for the one or more transactions and control logic on the computer readable medium configured to determine whether to provide assurance to the one or more transactions requested by the buyer and assign a bank-assured status to each transaction for which assurance is to be provided, wherein the buyer bank handles processing of payables for the plurality of transactions on behalf of the buyer; control logic on the computer readable medium configured to provide the buyer bank with the ability to offer buyer bank payable discounting to the seller; control logic on the computer readable medium configured to provide the buyer bank with the ability to offer buyer bank payable discounting aggregation to the seller; control logic on the computer readable medium configured to provide a seller bank with the ability to offer seller bank receivable discounting to the seller, wherein the seller bank handles processing of receivables from the plurality of transactions on behalf of the seller; and control logic on the computer readable medium configured to provide the seller bank with the ability to offer seller bank receivable discounting aggregation to the seller.