The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
Oct. 26, 2010
Filed:
Oct. 29, 2001
Jonathan Vaux, San Francisco, CA (US);
Brian Triplett, San Ramon, CA (US);
Michael Dreyer, Danville, CA (US);
Loraine Martin Yeakle, Danville, CA (US);
Alistair Duncan, Redwood City, CA (US);
Paulo Fernandes, Hayward, CA (US);
Jonathan Vaux, San Francisco, CA (US);
Brian Triplett, San Ramon, CA (US);
Michael Dreyer, Danville, CA (US);
Loraine Martin Yeakle, Danville, CA (US);
Alistair Duncan, Redwood City, CA (US);
Paulo Fernandes, Hayward, CA (US);
Visa U.S.A. Inc., Foster City, CA (US);
Visa International Service Association, San Francisco, CA (US);
Abstract
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.