Patent ID: 8688555

Claim:
A method for use in a system that includes a server, a supplier system, a buyer system, a first account management system (FAMS), and a second account management system (SAMS), the method comprising: receiving, by the server, an electronic invoice from the supplier system; registering, by the server, the electronic invoice associated with an identification (ID) code in a database; and transmitting, by the server, a transfer request message associated with the ID code to the FAMS based on an approval of the electronic invoice by the buyer, wherein the FAMS is configured to execute payment to the SAMS using the ID code, in response to receipt by the FAMS of the transfer request message; wherein the SAMS is configured to send an electronic deposit statement associated with the ID code to at least one of the server and the supplier system, the electronic deposit statement indicating that payment has been received at the SAMS, wherein at least one of the supplier system and the server is configured to associate the ID code with the electronic invoice, and wherein at least one of the supplier system and the server is configured to settle the electronic invoice that is paid, using the ID code associated with the electronic deposit statement.