Account settlement and financing in an e-commerce environment
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United States of America Patent
Stats
-
Sep 30, 2003
Grant Date -
N/A
app pub date -
Dec 22, 1999
filing date -
Dec 22, 1999
priority date (Note) -
In Force
status (Latency Note)
Importance
Abstract
A system, method and article of manufacture are provided for account settlement utilizing a network. First, a buyer is allowed to select from a group of options in order to settle an account utilizing a network. The options include settling a minimum balance, partially settling, settling a full balance, and applying for an import loan on payment due date. The selected option is then received utilizing the network. Finance interest may then be booked against the buyer for an unpaid portion of the account if the selected option includes either settling a minimum balance or partially settling. If the selected option includes settling a full balance, the account may be reconciled. On the other hand, if the selected option includes applying for an import loan on payment due date, an import loan may be booked and a credit line may be transferred to a trade loan line.
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Cited Art Landscape
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