System And Method For Integrated Electronic Invoice Presentment And Payment
A system and method is provided for an electronic invoice presentment and payment management service. The system and method automatically link electronic purchase orders, invoices, receipt-of-goods documents, and other transaction-related information to a payment card transaction, such as a purchasing card transaction. The system may be used in conjunction with existing infrastructure and the systems currently employed by a buyer organization and a supplier organization. The system provides for the delivery of Level III data (invoice detail) with every payment card transaction and automatically inputs this Level III detailed transaction data into the buyer's accounts payable system and enterprise resource planning system.
1 . A method for presenting and payment of an electronic invoice generated in connection with a purchase transaction between a buyer and a seller, including the steps of:
receiving a purchase order from the buyer, the purchase order including payment card account information and settlement date information;
receiving an invoice from the seller related to the purchase order;
receiving an indication of approval of the invoice from the buyer; and
masking the payment card account information, in whole or in part, from the seller until the settlement date.
2 . A method for presenting and payment of an electronic invoice generated in connection with a purchase transaction between a buyer and a seller, including the steps of:
receiving an invoice from a seller;
receiving an indication of approval of the invoice from the buyer, including payment card account information and settlement date information; and
masking the payment card account information, in whole or in part, from the seller until the settlement date.
3 . A method for presenting and payment of an electronic invoice generated in connection with a purchase transaction between a buyer and a seller, including the steps of:
receiving a purchase order from the buyer, the purchase order including payment card account information;
receiving an order confirmation or invoice from the seller related to the purchase order;
validating the order confirmation or invoice against predetermined buyer-defined payment terms; and
masking the payment card account information, in whole or in part, from the seller until the order confirmation or invoice has successfully satisfied the buyer-defined payment terms.
4 . A method for presenting and payment of an electronic invoice generated in connection with a purchase transaction between a buyer and a seller, including the steps of:
receiving a purchase order from the buyer, the purchase order including payment card account information, the payment card account information being used to provide payment for the transaction through a payment card network;
receiving an order confirmation or invoice from the seller related to the purchase order; and
matching information in the purchase order, order confirmation or invoice, and payment record for the payment card transaction to provide Level III data.
5 . A method for presenting and paying an electronic invoice generated in connection with a purchase transaction between a buyer having a buyer's system and a supplier, and for capturing detailed data related to said transaction, comprising
providing an electronic invoice presentment and payment system for receiving an electronic purchase order from said buyer and transmitting said purchase order information to said supplier, said purchase order including information related to said transaction and to propose payment for said transaction using a payment card; and
masking payment card account information, in whole or in part, from the supplier until an order confirmation or invoice has successfully satisfied predefined buyer-defined payment terms.
6 . A method for presenting and paying an electronic invoice generated in connection with a purchase transaction between a buyer having a buyer's system and a supplier, and for capturing detailed data related to said transaction, comprising the steps of:
providing an electronic invoice presentment and payment system (EIPPS) for receiving an electronic purchase order from said buyer and transmitting said purchase order to said supplier, said purchase order including information related to said transaction and to proposed payment for said transaction using a payment card;
receiving from said supplier by said EIPPS an electronic invoice;
transmitting data related to said information to a payment card network for authorization of said transaction;
matching by said EIPPS at least one of said purchase order and said invoice with a record provided by said payment card network; and
storing by said EIPPS said detailed data related to said transaction and in integrating at least a portion of said detailed data into said buyer's system.
7 . The method of claim 6 , further comprising the step of presenting by said EIPPS said invoice to said buyer for approval.
8 . The method of claim 6 , further comprising the step of generating said electronic invoice by automatically extracting data from said electronic purchase order to populate data in said electronic invoice.
9 . The method of claim 6 , further comprising the step of, before receiving said invoice from said supplier, sending said purchase order to a real time process partner to establish an authorization control record.
10 . The method of claim 9 , further comprising the step of validating said transaction using said authorization control record.
11 . The method of claim 6 , further comprising the step of providing information about said supplier in a supplier directory.
12 . The method of claim 6 , wherein the payment of said invoice is completed using an electronic payment service.
13 . The method of claim 6 , wherein said detailed data comprises Level III data.
14 . A method for presenting and paying an electronic invoice generated in connection with a purchase transaction between a buyer and supplier, and for capturing detailed data related to said transaction, comprising the steps of:
facilitating generation of an electronic invoice by said supplier using an electronic invoice presentment and payment system (EIPPS);
receiving said electronic invoice from said supplier's system by said EIPPS;
transmitting said electronic invoice from said EIPPS to said buyer;
transmitting data associated with said transaction to a payment network to facilitate an electronic payment of said electronic invoice from said buyer to said supplier, wherein the payment of said electronic invoice is completed using a payment card;
matching data comprising data from said electronic invoice to a financial record of said electronic payment; and
automatically integrating said detailed data related to said transaction into said buyer's system.
15 . The method of claim 14 , further comprising the step of, before facilitating generation of an electronic invoice, receiving an electronic purchase order from said buyer by said EIPPS.
16 . The method of claim 15 , further comprising the step of, after receiving said electronic purchase order from said buyer, transmitting said purchase order to said supplier from said EIPPS.
17 . The method of claim 14 , further comprising the step of submitting said electronic invoice to said buyer for approval.
18 . The method of claim 14 , wherein the electronic invoice is an order confirmation which does not require approval of the buyer.
19 . The method of claim 14 , wherein the step of facilitating generation of said electronic invoice comprises automatically extracting data from said electronic purchase order to populate data in said electronic invoice.
20 . The method of claim 14 , further comprising the step of, after sending said purchase order to said EIPPS, sending said purchase order to a real time process partner to establish an authorization control record.
21 . The method of claim 20 , further comprising the step of validating said transaction using said authorization control record.
22 . The method of claim 14 , further comprising the step of providing information about said supplier in a supplier directory.
23 . (canceled)
24 . The method of claim 14 , wherein said electronic invoice comprises Level III data.
25 . (canceled)
26 . (canceled)
27 . A method for presenting and payment of an electronic invoice generated in connection with a purchase transaction between a buyer and a seller, including the steps of:
receiving a purchase order from the buyer, the purchase order including payment card account information and settlement date information;
receiving an invoice from the seller related to the purchase order;
associating the purchase order or invoice with a unique identifier;
receiving an indication of approval of the invoice from the buyer; and
matching, based on the unique identifier, the purchase order or invoice with a financial record of an electronic payment, the unique identifier included in data submitted to a payment network for the electronic payment.
28 . A method for presenting and payment of an electronic invoice generated in connection with a purchase transaction between a buyer and a seller, including the steps of:
receiving an invoice from a seller;
associating the invoice with a unique identifier;
receiving an indication of approval of the invoice from the buyer, including payment card account information and settlement date information; and
matching, based on the unique identifier, the invoice with a financial record of an electronic payment, the unique identifier included in data submitted to a payment network for the electronic payment.
29 . A method for presenting and payment of an electronic invoice generated in connection with a purchase transaction between a buyer and a seller, including the steps of:
receiving a purchase order from the buyer, the purchase order including payment card account information;
receiving an order confirmation or invoice from the seller related to the purchase order;
associating the purchase order, order confirmation, or invoice with a unique identifier;
validating the order confirmation or invoice against predetermined buyer-defined payment terms; and
matching, based on the unique identifier, the purchase order, order confirmation, or invoice with a financial record of an electronic payment, the unique identifier included in data submitted to a payment network for the electronic payment.
30 . A method for presenting and payment of an electronic invoice generated in connection with a purchase transaction between a buyer and a seller, including the steps of:
receiving a purchase order from the buyer, the purchase order including payment card account information, the payment card account information being used to provide payment for the transaction through a payment card network;
receiving an order confirmation or invoice from the seller related to the purchase order;
associating said purchase order, order confirmation, or invoice with a unique identifier;
transmitting data related to said information and said unique identifier to a payment card network for authorization of said transaction; and
matching, based on said unique identifier, information in said purchase order, order confirmation or invoice, with a payment record for said payment card transaction to provide Level III data.
31 . A method for presenting and paying an electronic invoice generated in connection with a purchase transaction between a buyer having a buyer's system and a supplier, and for capturing detailed data related to said transaction, comprising
providing an electronic invoice presentment and payment system for receiving an electronic purchase order from said buyer and transmitting said purchase order information to said supplier, said purchase order including information related to said transaction and to propose payment for said transaction using a payment card;
associating said purchase order with a unique identifier;
transmitting data related to said information and said unique identifier to a payment card network for authorization of said transaction; and
matching, based on the unique identifier, information in said purchase order with a payment record for said payment card transaction to provide Level III data.
32 . A method for presenting and paying an electronic invoice generated in connection with a purchase transaction between a buyer and supplier, and for capturing detailed data related to said transaction, comprising the steps of:
facilitating generation of an electronic invoice by said supplier using an electronic invoice presentment and payment system (EIPPS);
receiving said electronic invoice from said supplier's system by said EIPPS;
transmitting said electronic invoice from said EIPPS to said buyer;
associating said invoice with a unique identifier;
transmitting data associated with said transaction and said unique identifier to a payment network to facilitate an electronic payment of said electronic invoice from said buyer to said supplier, wherein the payment of said electronic invoice is completed using a payment card;
matching, based on the unique identifier, data from said electronic invoice with a financial record of said electronic payment to provide Level III data; and
automatically integrating said detailed data related to said transaction into said buyer's system.