Computer-based payment transaction system and repository
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United States of America Patent
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N/A
Issued Date -
Oct 28, 2010
app pub date -
Oct 8, 2004
filing date -
Oct 8, 2004
priority date (Note) -
Abandoned
status (Latency Note)
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Abstract
One embodiment of the invention relates, to a method of operating a payment transaction system maintained by a first party who receives an instruction for a first transaction. The instructed first transaction is directed from a second party to a third party, and includes a transaction date on which the payment transaction system is to give effect to the first transaction. The first party stores the transaction instruction into a database, and permits the third party to access those transaction instructions stored in the database that are directed to the third party. The first party then receives a request from the third party to bring forward at least in part the instructed first transaction. In response to the request, the first party re-directs the first transaction at least in part from the third party to the first party. In addition, the first party creates a new instruction for a second transaction in the system. The second transaction is directed from the first party to the third party and has a second transaction date which is prior to the first transaction date.
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