Patent ID: 7822679

Claim:
A method for processing invoices submitted by sellers to buyers, comprising: using a server in a transaction processing system, maintaining buyer accounts and seller accounts for the buyers and the sellers respectively; and using the server, maintaining a plurality of terms and conditions relating to the buyers, the sellers, issuers and acquirers; with respect to each invoice, performing the following: identifying the involved buyer, seller, issuer and acquirer; determining one or more fees based on portions of the plurality of terms and conditions relating to the involved buyer, seller, issuer and acquirer; calculating a net amount using the transaction fee; obtaining payment authorization from the involved issuer; and upon obtaining the payment authorization, settling payment of the invoice between the involved issuer and acquirer, wherein the transaction processing system comprises a variable pricing matrix, which calculates one or more transaction fees based on a set of pre-negotiated terms and conditions agreed to by at least the issuer and the acquirer.