Electronic invoicing and collection system and method with chari

Details Electronic invoicing and collection system and method with chari Electronic invoicing and collection system and method with chari

1997-12-23

2000-04-18

MacDonald, Allen R.

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

Automated electrical financial or business practice or...

Finance

705 34, G06F 1760

Patent

active

060526742

ABSTRACT:
An electronic commerce invoicing and collection system (EICS) which provides the services of invoicing, automatic "past due" reminders in a real time recorded/registered format is described. Customers of a supplier are encouraged to pay invoices promptly via increased leverage of the supplier, public disclosure of a customer's payment behavior, and donations to charity. An integral part of this invention is accurate payment analysis statistics data that exceeds the detail and timeliness of present systems. The EICS provides a methodology to enable banks to minimize their risk when lending money and save on customer auditing fees. The system and method also provide for bank charges, bank interest payments, factoring charges, and charities to be subsidized by customers who pay their invoices late. The result of such a system and method is customer payment behavior modification.

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http://www.msfdc.com/service/ebpp.asp, Electronic Bill Presentment and Pant.
http://www.firstdata.com/terms.html, Internet Commerce-Credit Card Processing.

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