Patent ID: 8533086

Claim:
A system for arranging for payment of a purchase comprising: a processor; a memory; an application stored in the memory of the system and executable by the processor, wherein the application functions to: receive from a supplier an agreement to accept a payment from a buyer via use of a payment card having variable payment terms; receive from the supplier a demand deposit account number associated with a demand deposit account of the supplier; enroll the supplier in a payment network; issue a unique identifier to payments issued to suppliers enrolled in the payment network; receive authorization from the supplier to either (i) authorize the payment network to act as a virtual point of sale terminal to initiate payments from buyers enrolled in the payment network or (ii) initiate payments from buyers enrolled in the payment network using the supplier's point of sale terminal; after a purchase by the buyer from the supplier, assess the supplier a standard interchange rate; receive from the buyer an approval to pay the invoice initiate payment from the buyer to the supplier; and issue a rebate to the demand deposit account of the supplier based upon when the approval to pay the invoice was received.