Patent ID: 8825549

Claim:
A transaction processing system for dynamic profile-based auditing of transaction data, the transaction processing system comprising: a data storage device that stores data including profile list criteria for contracting transaction parties and sponsors that sponsor transactions, and contract data for a multitude of disparate contracts between transaction parties, and a computer arrangement programmed such that in response to each transaction data set received over a communications network, the computer arrangement: generates transaction processing information, said transaction processing information including a code to identify a performing transaction party, a code to identify a purchasing transaction party, and information identifying goods or services associated with a transaction to which the transaction data set applies; uses, at a processor of the computer arrangement, proprietary business rules to process the transaction, wherein the business rules include business rules associated with a transaction party, business rules associated with a sponsor, and business rules associated with a network manager, the transaction party is one of the performing transaction party or the purchasing transaction party, the transaction party contracts with the sponsor for processing transactions on behalf of the transaction party, and the sponsor contracts with the network manager for use of the transaction processing system, wherein the business rules associated with the network manager are used for at least two of the sponsors, and wherein using the business rules to process the transaction comprises: determining whether the transaction processing information satisfies a profile list criterion correlated with the transaction data set, the profile list criterion including information about users empowered to authorize payment; using the transaction processing information and the profile list criterion to audit the transaction to determine a condition of payment for the transaction, and in response to the audit and to receiving electronic performance data indicating performance by the performing transaction party, generating and outputting electronic payment data representing distributor-profile and party-profile criteria-based audit approval for the transaction data set.