Computer-based fee processing for electronic commerce

Details Computer-based fee processing for electronic commerce Computer-based fee processing for electronic commerce

1997-12-16

1999-11-16

Cosimano, Edward R.

Data processing: financial, business practice, management, or co

Automated electrical financial or business practice or...

Accounting

705 30, 705400, 707104, G06F 1760

Patent

active

059874295

ABSTRACT:
Fees due from transactions in electronic commerce are processed by building a transaction information database with transaction event objects based on events in each transaction. After retrieving fee rules from a fee rule database, a determining step detects if the fee rule applies to information in a transaction event object. Then, if the fee rule applies, a calculating step calculates the fee based on the fee rule and the information in the transaction event object. A fee object for a recipient entity is created based on the fee calculated by said calculating step and is stored in a payment database. An accumulating step sums the payments for a recipient entity from the fee objects in the payment database. The fee rules are general fee rules and specific fee rules. The general fee rules are applied to information in a transaction event object, and a calculating step calculates a general fee based on the general fee rule and the information in the transaction event object. Thereafter, the specific fee rules are applied to information in a transaction event object, and the calculating step calculates a specific fee based on the specific fee rule and the information in the transaction event object.

REFERENCES:
patent: 5819249 (1998-10-01), Dohanich et al.
patent: 5852819 (1998-12-01), Reeder

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