Citibank, N.a.

Carol A Moody

Marjorie Engber

William Joseph Krajewski

James E Nevens

James E Rouen

Cornelia Blemings

Robert R Battenfelder

John P Figliozzi

Maria M Mandler

Levi Y Orbach

Kathleen M Dixon

Keith W Luke

Ann P McLaughlin

Carol Benson

A system and method provides for enabling on-line transactional services among sellers and buyers having no previous relationship with each other. The system includes a financial clearinghouse for receiving a request for goods or services from a buyer and making a real-time determination of a risk classification of the buyer utilizing an on-line repository of credit information. The financial clearinghouse determines a risk-based discount fee as a function of the buyer's risk classification in order to establish a payment amount to the seller from the clearinghouse. If the transaction is authorized by the financial clearinghouse, the financial clearinghouse transmits the payment amount to the seller and transmits an invoice to the buyer for the purchase price of the transaction. The system can also include a broker coupled to the financial clearinghouse for providing an on-line order acceptance and processing capability between the buyers and sellers.

System and method for a risk-based purchase of goods

Growing community of inventors

Brooklyn, NY, United States of America

Carol A Moody