Visa International Service Association

Visa U.s.a. Inc.

Paulo Fernandes

Brian Triplett

Michael Dreyer

Loraine Martin Yeakle

Alistair Duncan

Jonathan Vaux

A system for conducting a commercial transaction between a buyer and a seller is disclosed. The system includes a transaction processing system for facilitating payment for a transaction between the buyer and the seller. In addition to the buyer and the seller, the transaction processing system also interacts with an issuer and an acquirer. An electronic invoice relating to the transaction is first posted to the system by the seller or another system. Upon accepting the electronic invoice, the system creates a payment instruction. Each time a payment instruction is created, the system applies certain pre-negotiated payment terms and conditions between the buyer and the seller to the payment instruction. After the payment instruction is created, the system seeks approval from the buyer. Upon approval of the payment instruction by the buyer, the system schedules the payment for the specified date in the payment instruction.

Growing community of inventors

Hayward, CA, United States of America

Paulo Fernandes