WO2021048872A1

WO2021048872A1 - A method and system of enabling printing of an invoice for payment processing

Info

Publication number: WO2021048872A1
Application number: PCT/IN2020/050782
Authority: WO
Inventors: Jay Krishna GULLAPALLI
Original assignee: Qcid Technologies Private Limited
Priority date: 2019-09-09
Filing date: 2020-09-09
Publication date: 2021-03-18

Abstract

Disclosed herein is a method and system for enabling printing of invoice of an enterprise billing system for payment processing. The system receives a request for printing invoice from the enterprise billing system, wherein the request comprises a plurality of invoice related data for one or more items purchased by a customer. The system further automatically identifies a set of invoice elements from the received invoice related data based on a predefined invoice configuration setting and dynamically generates a unique invoice payment signature based on the identified set of invoice elements. The system further embeds the unique invoice payment signature in the invoice to be printed and transmits the invoice embedded with the unique invoice payment signature to one or more payment processing systems for processing the invoice payment.

Description

Title: A METHOD AND SYSTEM OF ENABLING PRINTING OF AN INVOICE FOR PAYMENT PROCESSING

CROSS REFERENCE TO RELATED APPLICATION

This application claims the benefit of priority to Indian Provisional Patent Application Number 201941025360, filed on 09-September-2020, the entire contents of which are hereby incorporated by reference.

TECHNICAL FIELD

The present subject matter is related, to digital payment system in general and more particularly, but not exclusively related to a method and system for enabling printing of an invoice for payment processing.

BACKGROUND

In present-day scenario, computing devices like desktops, laptops, tablets, mobile phones, etc. come with multiple operating systems like Linux, windows, MacOS, Android, IOS etc. These devices are used by businesses for various purposes such as billing and tracking inventory, creating tax invoice, printing tax invoice receipt for payment and so on. Further, the capabilities of the computing devices are extended to connect with or communicate with other devices to accept digital payments. As the technology is being developed day by day to provide more ease of use, convenience and flexibility, various new methods to accept digital payments have evolved. To implement these methods in the existing billing systems or POS systems, the billing systems and/or POS systems need to be further developed and explicitly integrated to accept the new payment systems. Also, the billing systems need to be modified or developed according to specific operating systems and as per standards specific to a country which is cumbersome and incurs huge development costs and also a time-consuming process. Further, after the development process, the billing systems and the POS systems need to be tested for compatibility with each other. Also, the existing systems payments needs to be manually reconciled.

With the evolution of digital payment mechanisms in financial sector using mobile devices and internet, there is an increase in variety of cashless payment transactions. The digital payment mechanisms provide both merchants and customers with convenience and flexibility to send and receive payments instantly. Merchants can send an invoice or a bill to a customer through email or any other messaging services over the Internet and the customer can access the message from anywhere and pay the bill instantly. There are one or more different payment methods such as QR code where the customer scans a QR code and makes payment. However, the enterprises require software modification and adjustment of each of the associated printers to enable printing of such QR code on the respective invoice. Such modification and adjustment involve significant development effort depending on each type of computing environment, Operating system and the technology stack used to develop the billing/invoicing software. The development effort further incurs a recurring cost to the enterprises, thereby impacting on business profit.

Thus, there is a need for development of a method and a system that is capable of implementing new payment methods without modifying the existing billing system and the POS systems, in any kind of operating system.

SUMMARY

One or more shortcomings of the prior art are overcome, and additional advantages are provided through the present disclosure. Additional features and advantages are realized through the techniques of the present disclosure. Other embodiments and aspects of the disclosure are described in detail herein and are considered a part of the claimed disclosure.

Accordingly, the present disclosure relates to a method of facilitating payment processing for an enterprise billing system. The method includes receiving a request for printing invoice from the enterprise billing system, wherein the request comprises a plurality of invoice related data for one or more items purchased by a customer. The method comprises automatically identifying a set of invoice elements from the received invoice related data based on a predefined invoice configuration settings and dynamically generating a unique invoice payment signature based on the identified set of invoice elements. The method further comprises embedding the unique invoice payment signature in the invoice to be printed and transmitting the invoice embedded with the unique invoice payment signature to one or more payment processing systems for processing the payment of the invoice.

Further, the disclosure relates to a system for facilitating payment processing for an enterprise billing system. The system comprises a processor, and a memory communicatively coupled with the processor, wherein the memory stores processor-executable instructions, which, on execution, cause the processor to receive a request for printing invoice from the enterprise billing system. The request comprises a plurality of invoice related data for one or more items purchased by a customer. The processor is configured to automatically identify a set of invoice elements from the received invoice related data based on a predefined invoice configuration setting and dynamically generating a unique invoice payment signature based on the identified set of invoice elements. The processor is further configured to embed the unique invoice payment signature in the invoice to be printed and transmit the invoice embedded with the unique invoice payment signature to one or more payment processing systems for processing the payment of the invoice.

The foregoing summary is illustrative only and is not intended to be in anyway limiting. In addition to the illustrative aspects, embodiments, and features described above, further aspects, embodiments, and features will become apparent by reference to the drawings and the following detailed description.

BRIEF DESCRIPTION OF DRAWINGS

The accompanying drawings, which are incorporated in and constitute a part of this disclosure, illustrate exemplary embodiments and, together with the description, serve to explain the disclosed principles. In the figures, the left- most digit(s) of a reference number identifies the figure in which the reference number first appears. The same numbers are used throughout the figures to reference like features and components. Some embodiments of device or system and/or methods in accordance with embodiments of the present subject matter are now described, by way of example only, and with reference to the accompanying figures, in which:

Figure 1A illustrates an exemplary architecture of a proposed system to enable printing of an invoice for payment processing in accordance with some embodiments of the present disclosure;

Figure IB illustrates an exemplary representation of interaction of enterprise billing system with the proposed system in accordance with an embodiment of the present disclosure;

Figure 2 illustrates an exemplary block diagram of a Print-to-Pay system for enable printing of the invoice for payment processing in accordance with an embodiment of the present disclosure;

Figure 3 illustrates a flow diagram representation of configuring the proposed system in accordance with some embodiments of the present disclosure;

Figure 4A illustrates a flowchart showing a method of enabling printing of the invoice generated by an enterprise billing system for payment processing in accordance with some embodiments of the present disclosure;

Figure 4B illustrates a flowchart showing a method of generating a unique invoice payment signature of Figure 4A in accordance with some embodiments of the present disclosure;

Figure 4C illustrates a flowchart showing a method of automatic payment reconciliation for an invoice generated by the enterprise billing system in accordance with some embodiments of the present disclosure; and

Figure 5 illustrates a block diagram of an exemplary computer system for implementing embodiments consistent with the present disclosure.

It should be appreciated by those skilled in the art that any block diagrams herein represent conceptual views of illustrative systems embodying the principles of the present subject matter. Similarly, it will be appreciated that any flow charts, flow diagrams, state transition diagrams, pseudo code, and the like represent various processes which may be substantially represented in computer readable medium and executed by a computer or processor, whether or not such computer or processor is explicitly shown.

DETAILED DESCRIPTION

In the present document, the word "exemplary" is used herein to mean "serving as an example, instance, or illustration." Any embodiment or implementation of the present subject matter described herein as "exemplary" is not necessarily to be construed as preferred or advantageous over other embodiments.

While the disclosure is susceptible to various modifications and alternative forms, specific embodiment thereof has been shown by way of example in the drawings and will be described in detail below. It should be understood, however that it is not intended to limit the disclosure to the particular forms disclosed, but on the contrary, the disclosure is to cover all modifications, equivalents, and alternative falling within the spirit and the scope of the disclosure.

The terms “comprises”, “comprising”, “include(s)”, or any other variations thereof, are intended to cover a non-exclusive inclusion, such that a setup, device or method that comprises a list of components or steps does not include only those components or steps but may include other components or steps not expressly listed or inherent to such setup or device or method. In other words, one or more elements in a device or system or apparatus proceeded by “comprises... a” does not, without more constraints, preclude the existence of other elements or additional elements in the device or system or apparatus.

Embodiments of the present disclosure relates to a method and system for facilitating payment processing of an invoice using a unique invoice payment signature dynamically generated by the system. In one embodiment, the system receives a request for printing the invoice by a printing device from an enterprise billing system when a user or an authorised person of the enterprise billing system selects the system for printing the invoice. The invoice may be prepared for customer purchased goods or services, and the request may comprise invoice related data. The system automatically identifies a set of invoice elements from the received invoice related data based on predefined invoice configuration settings. The system further dynamically generates a unique invoice payment signature based on the identified set of invoice elements and embeds the unique invoice payment signature in the invoice to be printed. The system transmits the invoice embedded with the unique invoice payment signature to one or more payment processing system for processing the payment of the invoice.

The system further receives a payment notification for the invoice upon completion of the payment by the customer. In one embodiment, the payment notification comprises at least the unique invoice payment signature of the invoice for which the payment is made. The system identifies the payment notification by one or more predefined international/domestic payment schemes and the unique invoice payment signature associated with the payment notification. The system automatically reconciles the payment of the generated invoice by matching the unique invoice payment signature of the payment notification with the one or more unique invoice payment signatures stored in an invoice data repository. The ability of the system to automatically identify invoice elements and dynamically generate the unique invoice payment signature in a format acceptable to the standards of one or more payment systems for processing the payment and automatically reconcile of the received payment results in a robust and easy solution to invoice payment processing. The system further eliminated the need of explicit integration or software or hardware configuration of the billing system with multiple payment processing system.

In the following detailed description of the embodiments of the disclosure, reference is made to the accompanying drawings that form a part hereof, and in which are shown by way of illustration specific embodiments in which the disclosure may be practiced. These embodiments are described in sufficient detail to enable those skilled in the art to practice the disclosure, and it is to be understood that other embodiments may be utilized and that changes may be made without departing from the scope of the present disclosure. The following description is, therefore, not to be taken in a limiting sense.

Figure 1A illustrates an exemplary architecture of a proposed system to enable printing of an invoice for payment processing in accordance with some embodiments of the present disclosure.

As shown in Figure 1A, the exemplary system (100) comprises one or more components configured for enabling printing of an invoice of an enterprise billing system for payment processing. In one embodiment, the system (100) comprises a Print-to-Pay system (hereinafter referred to as PPS) (102), a user device (104), a POS (Point of Sale) system (106), an enterprise billing system (108), an invoice datastore (interchangeably referred to as invoice data repository) (110), and a printing device (112) communicatively coupled via a communication network (114). The communication network (114) may include, without limitation, a direct interconnection, LAN (local area network), WAN (wide area network), wireless network, point-to-point network, or another configuration. One of the most common types of network in current use is a TCP/IP (Transfer Control Protocol and Internet Protocol) network for communication between database client and database server. Other common Internet protocols used for such communication include HTTPS, FTP, AFS, and WAP and other secure communication protocols etc.

The user device (104) may be a mobile device or a personal device or a tablet or a computing device including the functionality for communicating over the communication network (114). For example, the mobile device can be a conventional web-enabled personal computer in the home, mobile computer (laptop, notebook or subnotebook), Smart Phone (iOS, Android & Windows), personal digital assistant, wireless electronic mail device, tablet computer or other device capable of communicating both ways over the Internet or other appropriate communications network. The user device (104) is configured with capabilities of payment of invoice upon receiving the printed invoice by the user of the user device. In one embodiment, the user device is configured to initiate the invoice payment by using at least one of the digital wallet platforms supported by the user device (104) and the POS system (106).

The POS system (106) may be a system that enables one or more business transaction between a customer and the enterprise. The POS system (106), may be for example, a general computing device or mobile computing device or a tablet or any other computing device which is capable of communicating with the PPS (102) or user device via POS driver, and facilitating payment transactions for invoices generated by the PPS (102). The POS system (106), may be one of on-premise POS and cloud POS. The on-premise POS system operates within internal network and uses one or more computing devices of the enterprise. The cloud POS leverages cloud technology to provide users with ability to access the POS system (106) anywhere based on the availability of internet connectivity. In one example, the POS system (106) can be a computerized network comprising of a main computer linked with one or more checkout terminals and supported by different hardware features such as card reader, NFC (Near Field Communication) reader etc. The POS system (106) comprises a processor (116) and a POS interface (118) coupled with the processor (116). The processor (116) receives the invoice embedded with a unique invoice payment signature and enables the user to make digital payments via the POS interface (118). The processor (116) receives the payment information and communicates with a payment processing backend server to complete the payment transaction. The processor (116) receives a payment notification from the payment processing backend server and transmits the payment notification to the PPS (102) and the enterprise billing system (108). The PPS (102) receives the payment notification comprising at least one unique invoice payment signature and reconciles the payment received based on the unique invoice payment signature included in the payment notification. The PPS (102) may also transmit the outcome of reconciliation to the enterprise billing system (108) and the invoice datastore (110) for storage purpose.

The enterprise billing system (108) may be a system that aids the enterprise in the process of automated invoicing the customers, tracking the payments, managing one or more accounts and other plurality of backend operations. The enterprise billing system (108) may further be integrated with plurality of POS payment terminals, existing ERP (Enterprise Resource Planning)/CRM (Customer Relationship Management) solutions, data security systems, payment gateways to process online payments and payments via credit cards, debit card, NFC, etc. The enterprise billing system (108) stores the invoices generated for the customers in the invoice datastore (110) for future references.

The invoice datastore (110) is capable of storing plurality of operational data of PPS (102) and the enterprise billing system (108) in the respective dataset. The invoice datastore (110) stores information related to the received invoice, reconciled data of the invoice payment, over which the authorized user of the enterprise billing system (108) can perform verification of plurality of reconciled invoice payment. The invoice datastore (110) further stores a plurality of invoice configuration settings and invoice template generated based on the plurality of invoice configuration settings for enabling the printing of the requested invoice. The invoice datastore (110) stores plurality of unique invoice payment signatures as generated in the past for plurality of invoices requested for printing by the enterprise billing system (108). The invoice datastore (110) can further store information related to country specific payment standards that is referred for generation of the unique invoice payment signature. In one embodiment, the invoice datastore (110) may be integrated within the PPS (102). In another embodiment, the invoice datastore (110) may be configured, for example, as a standalone datastore. In yet another example, invoice datastore (110) may be configured in a cloud environment. The invoice datastore (110) may be, for example, one of data table, flat files, spreadsheet or any document comprising one or more data elements. The PPS (102) or the enterprise billing system (108) may retrieve any invoice or invoice related data from the invoice datastore (110) for printing via the printing device (112).

The printing device (112), may be for example a personal printer, office printer, billing printer or any other printer that is designed for specific use. The printing device (112), is capable of communicating with the PPS (102) via the communication network (114) and printing the physical copy of the invoice with the embedded unique invoice payment signature so that the invoice can be paid by using at least a digital wallet installed in the user device (104). In one embodiment, the printing device (112) is communicatively coupled with the PPS (102) via a printer driver that converts the data to be printed to a format so that the printing device (112) can print the data. The printing device (112) incorporates a printer configuration and a paper configuration to enable the operator to print the desired document in different format such as varying paper size, varying printing colour tone etc., on receiving a print request from the PPS (102).

The PPS (102) may provide one or more functions or services to enterprise billing system (108). In one embodiment, the PPS (102) may be configured within a computing device having a large storage capacity, with one or more microprocessors and high-speed network connections. In one example, the PPS (102) may be a software or a web integrated application and the components of the PPS (102) may support the one or more functions or services related to invoice payment. The PPS (102) may be configured in a cloud environment or as standalone system. In one embodiment, the PPS (102) comprises a processor (120) and a memory (122) coupled to the processor (120) that stores processor-executable instructions. The processor (120) and the memory (122) are communicatively coupled to the user device (104), the POS system (106), the enterprise billing system (108), the invoice datastore (110) and the printing device (112) via the communication network (114).

The PPS (102) further comprises one or more modules configured to enable printing of an invoice for digital payment. In one embodiment, the one or more modules include a data acquisition module (124), an invoice signature generation module (126), an invoice processing module (128) and a reconciliation module (130). The invoice datastore (110) and the PPS (102) are illustrated as separate elements, however in one embodiment, the invoice datastore (110) may be combined or integrated within the PPS (102). In an embodiment, the enterprise billing system (108) determines one or more items purchased by a customer to prepare an invoice format and selects the PPS (102) as a printer to generate an invoice listing the one or more items purchased by the customer. The PPS (102) generates the invoice with a unique invoice payment signature based on one or more invoice elements identified in the invoice. The unique invoice payment signature conforms to the country specific payment standards for payment processing and enables payment of the invoice and automatic reconciliation of the payment without the need of explicit integration or configuration of the enterprise billing system (108) with one or more payment processing systems.

Figure IB illustrates an exemplary representation of interaction of the enterprise billing system (108) with the PPS (102) to enable printing of an invoice for payment processing without integrating explicitly with the POS system (106) or the printing device (112). In one embodiment, the enterprise billing system (108) is configured to perform plurality of billing related operations such as item scan, price tagging, invoice generation etc. The invoice information further flows from the enterprise billing system (108) to a printer driver (152), and a POS driver (154) via the PPS (102). The PPS (102) is configured as a printing unit or device so that the enterprise billing system (108) optionally selects the PPS (102) to print the invoice in a suitable format conforming to country specific payment standards for payment processing of the invoice. The printer driver (152) enables the communication between the PPS (102) and the printing device (112), and the POS driver (154) enables communication between the PPS (102) and the POS system (106).

The printer driver (152) is configured to transform the data to be printed to a specific format that the printing device (112) can understand and print the data. The printer driver is configured to allow the enterprise billing system (108) to do printing by using the printing device (112). The POS driver (154) also enables the PPS (102) to communicate with one or more POS system (106). In an example, the PPS (102) receives a print invoice instruction from the enterprise billing system (108) and generates an invoice embedded with a unique invoice payment signature for processing payment of the invoice amount. Upon generating the invoice embedded with the unique invoice payment signature, the PPS (102) transmits the invoice either to the printing device (112) via the printer driver (152) for physical printing of the invoice for payment. In another embodiment, the PPS (102) transmit the invoice to the POS system (106) via the POS driver (154) for enabling the customer to make the digital payment by using credit card, debit card, NFC card etc.

The PPS (102) may be a typical printing system as illustrated in Figure 2. In one embodiment, the PPS (102) includes a PPS interface (202), data (204) and modules (206). In one embodiment, the data (204) can be stored within the memory (122). In one example, the data (204) may include invoice data (208), payment data (210), printer data (212), reconciled data (214), standards data (216), and other data (218). In one embodiment, the data (204) can be stored in the memory (122) in the form of various data structures. Additionally, the aforementioned data can be organized using data models, such as relational or hierarchical data models. The other data (218) may be also referred to as reference repository for storing recommended implementation approaches as reference data. The other data (218) may also store data, including temporary data, temporary files, additional data required for generation of the unique invoice payment signature, and intermediate data for payment processing as generated by the modules (206) for performing the various functions of the PPS (102).

The modules (206) may include, for example, a configuration module (220), the data acquisition module (124), the invoice signature generation module (126), the invoice processing module (128), and the reconciliation module (130). The modules (206) may also comprise other modules (222) to perform various miscellaneous functionalities of the PPS (102). It will be appreciated that such aforementioned modules may be represented as a single module or a combination of different modules. The modules (206) may be implemented in the form of software performed by the processor, hardware and/or firmware.

In operation, an operator of the enterprise billing system (108) scans one or more goods/services purchased by the customer and generates an invoice with total amount payable by the customer, details of the purchased goods/services, and related invoice information. Upon preparing the invoice, the operator selects the PPS (102) as a printer to enable printing of the generated invoice for processing payment of the invoice. The data acquisition module (124) receives the request for printing the invoice as generated from the enterprise billing system (108) and identifies a set of invoice elements of the received invoice based on the pre-defined invoice configuration settings.

In one embodiment, the configuration module (220) enables the operator to perform a one-time invoice configuration of the PPS (102). The configuration module (220) receives a plurality of one-time invoice configuration settings as input from the operator. The plurality of one-time invoice configuration settings include but not limited to at least one or more of print paper size and width, maximum length of paper, invoice label, and line number of label location. The plurality of one-time invoice configuration settings can further include invoice data type, invoice length, invoice line number, amount label, amount data type, amount length, currency label, currency indicator, invoice date label, invoice date format, and invoice format etc. Upon receiving the plurality of one-time invoice configuration settings, the configuration module (220) generates an invoice template in accordance with the plurality of one-time invoice configuration settings. The configuration module (220) further stores the generated invoice template as the standards data (216) in the invoice datastore (110). In one embodiment, the configuration module (220) receives the operator’s place of business as input and retrieves one or more payment standards for the specific country of the operator’ place of business from the standards data (216). The information related to payment standards of plurality of countries is previously stored as standards data (216) of the invoice datastore (110). The configuration module (220) configures a payment code generation format based on country specific standards for enabling invoice payment. As an example, Unified Payments Interface (UPI) is a payments system that conforms to one or more payment standards as defined by Government of India. The UPI is an instant real time payment system that facilitates interbank transactions. The transactions via UPI can happen with a set of pre-defined methods such as virtual payment address (VPA) or UPI ID, mobile number, account number & IFSC (Indian Financial System Code), QR (Quick Response) code etc., based on the defined payment standards. In one embodiment, the configuration module (220) is also capable of enabling the operator to provide the plurality of configuration settings as input via the PPS interface (202). The PPS interface (202) reduces the complexity of configuring the PPS (102) for invoice printing by providing a guided and interactive mode of providing input.

As illustrated in Figure 3, the configuration module (220) receives plurality of configuration settings (302) as input from the operator and generates an invoice template (304) by processing the configuration settings input (302). The configuration settings input aids in determining the structure of the received invoice so that PPS (102) can automatically identify the invoice format and one or more invoice elements without performing any further processing on the received invoice information. As an example, the configuration module (220) receives configuration settings of invoice date format as MM/DD/YYYY. If the PPS (102) receives a date in the print invoice request as 10/02/2020, the PPS (102) automatically identifies the invoice date as 2^nd October, 2020. Likewise, all the other invoice elements are automatically identified by the PPS (102). The configuration module (220) also determines the country specific payment standards so as to generate a payment code generation format (306) that conforms to one or more country specific payment schemes established for payment in that country.

The data acquisition module (124) receives the request for printing the invoice as generated from the enterprise billing system (108) and identifies a set of invoice elements of the received invoice based on the pre-defined invoice configuration settings. The set of invoice elements include invoice related data such as, but not limited to an invoice number, invoice amount, pricing currency, device ID, company logo, company name, date, goods or services purchased, quantity, price, applicable taxes and total due amount etc. The data acquisition module (124) further stores the identified set of invoice elements as the invoice data (208) in the invoice datastore (110). In one embodiment, the data acquisition module (124) determines invoice format data from the received invoice and stores the invoice format data as invoice data (208) of the invoice datastore (110), wherein the invoice format data contains the layout of the generated invoice, position of different invoice elements, blank area in the invoice etc. The data acquisition module (124) further receives information related to country specific payment standards extracted from one or more sources such as input feed from plurality of payment service providers, standards laid out by plurality of payment regulatory authority etc., and stores the received payment standards information as the standards data (216) of the invoice datastore (110). The data acquisition module (124) can receive the mode of payment of the generated invoice from the operator via a respective user interface of the enterprise billing system (108), wherein the customer can choose to make the payment either by using an NFC (Near Field Communication) card, a chip card, a magnetic strip card with secured PIN etc. or by using digital payment wallet configured in the user device (104).

In another embodiment, the data acquisition module (124) retrieves information related to the specification of the printing device (112) and print paper information such as paper size, format, and related information to print the invoice embedded with the unique invoice payment signature. The data acquisition module (124) further stores the retrieved printer information and print paper information as the printer data (212) of the invoice datastore (110), wherein the printer information and print paper information combinedly enable the printing of the invoice embedded with the unique invoice payment signature by the PPS (102). Upon identifying the set of invoice elements, the PPS (102) generates the unique invoice payment signature.

In one embodiment, the invoice signature generation module (126) is configured to generate the unique invoice payment signature based on the set of invoice elements as identified by the data acquisition module (124). In one embodiment, the invoice signature generation module (126) retrieves the identified invoice elements and the pre-defined invoice template from the invoice data (208) and the standards data (216) of the invoice datastore (110) respectively. The invoice signature generation module (126) further maps the set of invoice elements onto the retrieved pre-defined invoice template and generates the invoice to be printed based on the mapping of the set of invoice elements. The invoice signature generation module (126) further retrieves the country specific pre-defined payment code generation format from the standards data (216) of the invoice datastore (110) based on the merchant provided mode of payment as received by the data acquisition module (124). Upon retrieving the information related to payment standards, the invoice signature generation module (126) computes the unique invoice payment signature based on the retrieved country specific payment code generation format, and the set of invoice elements. The computed unique invoice payment signature enables the PPS (102) to communicate with one or more payment processing systems irrespective of any explicit integration or configuration of the enterprise billing system (108) with the one or more payment processing systems.

In one example, the unique invoice payment signature can be represented as a QR code (Quick Response code) that is generated based on the one or more invoice elements and the country specific payments standard, wherein the QR code supports payments via a plurality of payment companies. The QR code can also accept payments on the unified payments interface (UPI) platforms. Thus, the invoice signature generation module (126) generates different unique invoice payment signature for each of the generated invoices based on the country specific payments standard for further processing.

The invoice processing module (128) process the generated invoice and the unique invoice payment signature for transmitting the invoice to one or more payment processing systems. In one embodiment, the invoice processing module (128) retrieves the invoice format data, printer information, and print paper information from the invoice data (208) and the printer data (212). The invoice processing module (128) determines a printable area of the received invoice to print the unique invoice payment signature based on the invoice format data, printer information, and print paper information. Upon determining the printable area, the invoice processing module (128) embeds the unique invoice payment signature in the printable area and generates a final invoice embedded with the unique invoice payment signature for payment. The invoice processing module (128) digitally transmits the final invoice embedded with the unique invoice payment signature to the POS system (106) if the customer chooses to pay the invoice amount by using credit card, debit card, NFC card etc.

The POS system (106) may be a mobile computing device or a mobile phone or a tablet or any computing device with Near Field Communication (NFC) capabilities to enable payment acceptance using card issued by a financial institution such as bank, credit agencies etc. In an example, the card may be an NFC card, chip card, magstripe card with secure PIN. The processor (116) of the POS system (106) may receive the card details of the card when swiped or placed in proximity to the card reader or the user interface (118) of the POS system (106) and verifies the customer and the card details. In one embodiment, the processor (116) communicates with the payment processing system to verify the card details of the customer. The payment processing system may be a gateway that communicates with servers of at least payment service providers like MasterCard® and financial institutions like banks that issued the card. Upon verification of the card details and sufficient balance in the customer’s account, the payment processing system completes the transaction. Once the payment transaction is complete, the processor (116) receives a payment notification with the unique invoice payment signature from the payment processing backend system and transmits the received payment notification to the PPS (102) via the POS driver (154).

In another embodiment, the invoice processing module (128) transmits the invoice embedded with the unique invoice payment signature to the printing device (112) via the printer driver (152) for printing the physical copy of the invoice. The customer receives the invoice in the physical format and initiates the payment of the invoice via the user device (104). The user device (104) may be a mobile device comprising one or more modules for scanning the unique invoice payments signature embedded in the invoice and decoding or decrypting the unique invoice payment signature to make the payment. The user device (104) device also includes one or more modules for providing various payment options such as, but not limited, debit/credit card, internet banking and digital wallets. Once the customer makes the digital payment and payment transaction is completed, the PPS (102) receives a payment notification with the unique invoice payment signature. On receiving the payment notification, the PPS (102) performs reconciliation of the received payment notification.

In one embodiment, the reconciliation module (130) receives payment notification from the one or more payment gateways for the payment made with respect to the generated invoice. The notification of payment is identified by one or more predefined international/domestic payment schemes and the unique invoice payment signature associated with the payment notification. Upon receiving the payment notification, the reconciliation module (130) determines the device ID from the embedded unique invoice payment signature to identify the invoice originating device of the enterprise billing system (108) and transmits the notification to the invoice originating device. The reconciliation module (130) further matches the unique invoice payment signature of payment notification with the one or more unique invoice payment signatures generated for one or more print invoice requests. The reconciliation module (130) reconciles the invoice payment based on matching unique invoice payment signature and comparing the invoice amount of the generated invoice with the respective payment amount as received via the payment notification. The reconciliation module (130) generates a reconciliation score and reconciliation outcome for the reconciled invoice payment. The reconciliation module (130) further stores the reconciliation score and outcome as reconciled data (214) of the invoice datastore (110). In one embodiment, the reconciliation module (130) enables the one or more operators of the enterprise billing system (108) to search for one or more generated invoices and validate the reconciliation status of such invoices by using one or more respective user interfaces of the enterprise billing system (108).

Figure 4A illustrates a flowchart showing a method of enabling printing of an invoice generated by the enterprise billing system for payment processing in accordance with an embodiment of the present disclosure.

As illustrated in Figure 4A, the method (400) comprises one or more blocks implemented by the processor (120) to facilitate printing of invoice generated the enterprise billing system (108) using PPS (102). The method (400) may be described in the general context of computer executable instructions. Generally, computer executable instructions can include routines, programs, objects, components, data structures, procedures, modules, and functions, which perform specific functions or implement specific abstract data types.

The order in which the method (400) is described is not intended to be construed as a limitation, and any number of the described method blocks can be combined in any order to implement the method (400). Additionally, individual blocks may be deleted from the method (400) without departing from the spirit and scope of the subject matter described herein. Furthermore, the method (400) can be implemented in any suitable hardware, software, firmware, or combination thereof.

At block (402), a print invoice request along with invoice related data for an invoice is received from the enterprise billing system (108). In one embodiment, the enterprise billing system (108) determines number of purchased items by the customer and prepares an invoice incorporating other details such as invoice number, tax number, company name, item price, total due amount etc. The enterprise billing system (108) further selects the PPS (102) as a printer and instruct the PPS (102) to print the invoice for payment processing. The data acquisition module (124) receives the print invoice request for the generated invoice from the enterprise billing system (108).

At block (404), invoice elements of the received invoice are identified based on pre-defined invoice configuration. In one embodiment, upon receiving the request for printing the invoice, the data acquisition module (124) identifies a set of invoice elements of the received invoice based on the pre-defined invoice configuration settings as defined by the configuration module (220). The set of invoice elements include invoice related data such as, but not limited to an invoice number, invoice amount, pricing currency, device ID, company logo, company name, date, goods or services purchased, quantity, price, applicable taxes and total due amount etc. The data acquisition module (124) further stores the identified set of invoice elements as the invoice data (208) of the invoice datastore (110).

In one embodiment, the configuration module (220) receives a plurality of one-time invoice configuration settings as input from the operator. The plurality of one-time invoice configuration settings includes but not limited to at least one or more of print paper size and width, maximum length of paper, invoice label, line number of label location. The plurality of one-time invoice configuration settings also include invoice data type, invoice length, invoice line number, amount label, amount data type, amount length, currency label, currency indicator, invoice date label, invoice date format, invoice format etc. Upon receiving the plurality of one-time invoice configuration settings, the configuration module (220) generates an invoice template in accordance with the plurality of one-time invoice configuration settings. The configuration module (220) further stores the generated invoice template as the standards data (216) of the invoice datastore (110). In one embodiment, the configuration module (220) configures a payment code generation format based on country specific standards for enabling invoice payment.

At block (406), a unique invoice payment signature is dynamically generated based on the identified invoice elements. In one embodiment, the invoice signature generation module (126) is configured to generate the unique invoice payment signature based on the set of invoice elements as identified by the data acquisition module (124). In one embodiment, the invoice signature generation module (126) retrieves the identified invoice elements and the pre-defined invoice template from the invoice data (208) and the standards data (216) of the invoice datastore (110) respectively. The invoice signature generation module (126) computes the unique invoice payment signature based on the retrieved country specific payment code generation format, and the set of invoice elements

At block (408), the unique invoice payment signature is embedded in the invoice to be printed. In one embodiment, the invoice processing module (128) processes the generated invoice and the unique invoice payment signature for transmitting the invoice to one or more payment processing systems. In one embodiment, the invoice processing module (128) retrieves the invoice format data, printer information, and print paper information from the invoice data (208) and the printer data (212) of the invoice datastore (110) respectively. The invoice processing module (128) determines a printable area of the received invoice to print the unique invoice payment code based on the invoice format data, printer information, and print paper information. Upon determining the printable area, the invoice processing module (128) embeds the unique invoice payment signature in the printable area and generates an invoice embedded with the unique invoice payment signature for payment.

At block (410), the printed invoice is transmitted for processing invoice payment. In one embodiment, the invoice processing module (128) digitally transmits the invoice embedded with the unique invoice payment signature to the POS system (106) if the customer chooses to pay the invoice amount by using credit card, debit card, NFC card etc. The POS system (106) may be a mobile computing device or a mobile phone or a tablet or any computing device with Near Field Communication (NFC) capabilities to enable payment acceptance using card issued by a financial institution such as bank, credit agencies etc. The processor (116) of the POS system (106) receives the card details of the card when swiped or placed in proximity to the card reader or the user interface (118) of the POS system (106). The processor (116) further verifies the customer and the card details and receives a payment notification with the unique invoice payment signature from the payment processing system upon completion of the invoice payment. The processor (116) transmits the received payment notification to the PPS (102) via the POS driver (154).

In another embodiment, the invoice processing module (128) transmits the invoice embedded with the unique invoice payment signature to the printing device (112) via the printer driver (152) for printing the physical copy of the invoice. The customer receives the invoice in the physical format and initiates the payment of the invoice via the user device (104). The user device (104) may be a mobile device comprising one or more modules for scanning the unique invoice payments signature embedded in the invoice and decoding or decrypting the unique invoice payment signature to make the payment. Once the customer makes the digital payment and payment transaction is completed, the PPS (102) receives a payment notification with the unique invoice payment signature.

Figure 4B illustrates a flowchart showing a process of generating a unique invoice payment signature in accordance with some embodiments of the present disclosure.

As illustrated in Figure 4B, the method (406) comprises one or more blocks implemented by the processor (120) to generate a unique invoice payment signature by using PPS (102). The method (406) may be described in the general context of computer executable instructions. Generally, computer executable instructions can include routines, programs, objects, components, data structures, procedures, modules, and functions, which perform specific functions or implement specific abstract data types.

The order in which the method (406) is described is not intended to be construed as a limitation, and any number of the described method blocks can be combined in any order to implement the method. Additionally, individual blocks may be deleted from the method (406) without departing from the spirit and scope of the subject matter described herein. Furthermore, the method (406) can be implemented in any suitable hardware, software, firmware, or combination thereof.

At block (420), the pre-defined invoice template is retrieved from the invoice datastore. In one embodiment, the invoice signature generation module (126) retrieves the identified invoice elements and the pre-defined invoice template from the invoice data (208) and the standards data (216) of the invoice datastore (110) respectively. The pre-defined invoice template is determined by the configuration module (220) based on plurality of one-time invoice configuration settings received as input from the operator. At block (422), the set of invoice elements are mapped onto the pre-defined invoice template. In one embodiment, the invoice signature generation module (126) further maps the set of invoice elements onto the retrieved pre-defined invoice template.

At block (424), the invoice to be printed is generated based on the mapping of the set of invoice elements. In one embodiment, the invoice signature generation module (126) generates the invoice to be printed based on the mapping of the set of invoice elements.

At block (426), the unique invoice payment signature is computed based on payment code generation format and mapped invoice elements. In one embodiment, the invoice signature generation module (126) further retrieves the country specific pre-defined payment code generation format from the standards data (216) of the invoice datastore (110) based on the merchant provided mode of payment as received by the data acquisition module (124). Upon retrieving the information related to payment standards, the invoice signature generation module (126) computes the unique invoice payment signature based on the retrieved country specific payment code generation format, and the set of invoice elements. The computed unique invoice payment signature enables the PPS (102) to communicate with one or more payment processing systems irrespective of any explicit integration or configuration of the enterprise billing system (108) with the one or more payment processing systems.

Figure 4C illustrates a flowchart showing a method of automatic payment reconciliation for an invoice generated by the enterprise billing system in accordance with some embodiments of the present disclosure.

As illustrated in Figure 4C, the method (450) comprises one or more blocks implemented by the processor (120) to automatically reconcile invoice payment by using PPS (102). The method (450) may be described in the general context of computer executable instructions. Generally, computer executable instructions can include routines, programs, objects, components, data structures, procedures, modules, and functions, which perform specific functions or implement specific abstract data types.

The order in which the method (450) is described is not intended to be construed as a limitation, and any number of the described method blocks can be combined in any order to implement the method. Additionally, individual blocks may be deleted from the method (450) without departing from the spirit and scope of the subject matter described herein. Furthermore, the method (450) can be implemented in any suitable hardware, software, firmware, or combination thereof. At block (452), notification of payment of the invoice is received. In one embodiment, the reconciliation module (130) receives payment notification form the one or more payment gateways for the payment made with respect to the generated invoice. The notification of payment is identified by one or more predefined intemational/domestic payment schemes and the unique invoice payment signature associated with the payment notification.

At block (454), the notification of payment of invoice is transmitted to the billing system. In one embodiment, upon receiving the payment notification, the reconciliation module (130) determines the device ID from the embedded unique invoice payment signature to identify the invoice originating computing device of the enterprise billing system (108) and transmits the notification to the invoice originating computing device.

At block (456), the unique invoice payment signature of the payment notification is matched with generated invoice payment signatures. In one embodiment, the reconciliation module (130) further matches the unique invoice payment signature of payment notification with the one or more unique invoice payment signatures generated for one or more print invoice requests.

At block (458), the reconciled output is stored upon matching unique invoice payment signature. In one embodiment, the reconciliation module (130) reconciles the invoice payment based on matching unique invoice payment signature and comparing the invoice amount of the generated invoice with the respective payment amount as received via the payment notification. The reconciliation module (130) generates a reconciliation score and reconciliation outcome for the reconciled invoice payment. The reconciliation module (130) further stores the reconciliation score and outcome as reconciled data (214) of the invoice datastore (110). In one embodiment, the reconciliation module (130) enables the one or more operators of the enterprise billing system (108) to search for one or more generated invoices and validate the reconciliation status of such invoices by using one or more respective user interfaces of the enterprise billing system.

In an example, when a customer of the enterprise purchases one or more products and places the products to an operator of the enterprises billing system for making payment, the operator interacts with the enterprise billing system via at least one user interface. The operator scans all the purchased items and receives customer choice of mode of payment. The customer chooses to make the payment with a digital wallet configured in the user device (104). The operator prepares an invoice with all the related information and request the PPS (102) to print the invoice for payment processing. The data acquisition module (124) automatically identifies the set of invoice elements from the received invoice information based on a pre-defined invoice template as generated by the configuration module (220) using the plurality of one time configuration settings. The invoice signature generation module (126) retrieves country specific payment code generation format from the invoice datastore (110) and generates a unique invoice payment signature based on the set of identified invoice elements and the payment code generation format. The invoice processing module (128) further identifies a printable area in the invoice to embed the unique invoice payment signature based on printer configuration and paper configuration of the printing device (112). Upon embedding the unique invoice payment signature, the invoice processing module (128) prints the invoice in physical format via the printing device (112) for enabling the customer to pay the invoice amount. The customer, upon receiving the physical invoice embedded with the unique invoice payment signature, scans the unique invoice payment signature via the configured digital wallet and completes the payment of the invoice amount.

In one embodiment, upon completion of the invoice payment, the reconciliation module (130) receives the payment notification containing the unique invoice payment signature and transmits the payment notification to the user interface of the respective operator. The reconciliation module (130) further automatically matches the unique invoice payment signature of the payment notification with the plurality of generated unique invoice payment signatures and reconciles the invoice payment based on matching unique invoice payment signature and paid invoice amount. The reconciliation module (130) further stores the reconciled output in the invoice datastore (110). Therefore, the operator can further verify the reconciliation status of the generated invoice by using respective user interface.

In an embodiment, the computer system (500) may be a system for facilitating digital payment (102), which is used for improving risk assessment by providing external data. The computer system (500) may include a central processing unit (“CPU” or “processor”) (508). The processor (508) may comprise at least one data processor for executing program components for executing user or system-generated business processes. The processor (508) may include specialized processing units such as integrated system (bus) controllers, memory management control units, floating point units, graphics processing units, digital signal processing units, etc. The processor (508) may be disposed in communication with one or more input/output (I/O) devices (502 and 504) via I/O interface (506). The I/O interface (506) may employ communication protocols/methods such as, without limitation, audio, analog, digital, stereo, IEEE-1394, serial bus, Universal Serial Bus (USB), infrared, PS/2, BNC, coaxial, component, composite, Digital Visual Interface (DVI), high-definition multimedia interface (HDMI), Radio Frequency (RF) antennas, S-Video, Video Graphics Array (VGA), IEEE 802.n /b/g/n/x, Bluetooth, cellular (e.g., Code-Division Multiple Access (CDMA), High-Speed Packet Access (HSPA+), Global System For Mobile Communications (GSM), Long-Term Evolution (LTE) or the like), etc.

Using the I/O interface (506), the computer system (500) may communicate with one or more I/O devices (502 and 504). In some implementations, the processor (508) may be disposed in communication with a communication network (114) via a network interface (510). The network interface (510) may employ connection protocols including, without limitation, direct connect, Ethernet (e.g., twisted pair 10/100/1000 Base T), Transmission Control Protocol/Internet Protocol (TCP/IP), token ring, IEEE 802.1 la/b/g/n/x, etc. Using the network interface (510) and the communication network (114), the computer system (500) may be connected to PPS (102), user device (104), POS system (106), enterprise billing system (108), invoice datastore (110), and printing device (112).

The communication network (114) can be implemented as one of the several types of networks, such as intranet or any such wireless network interfaces. The communication network (114) may either be a dedicated network or a shared network, which represents an association of several types of networks that use a variety of protocols, for example, Hypertext Transfer Protocol (HTTP), Transmission Control Protocol/Intemet Protocol (TCP/IP), Wireless Application Protocol (WAP), etc., to communicate with each other. Further, the communication network (114) may include a variety of network devices, including routers, bridges, servers, computing devices, storage devices, etc.

In some embodiments, the processor (508) may be disposed in communication with a memory (530) e.g., RAM (514), and ROM (516), etc. as shown in Figure 5, via a storage interface (512). The storage interface (512) may connect to memory (530) including, without limitation, memory drives, removable disc drives, etc., employing connection protocols such as Serial Advanced Technology Attachment (SATA), Integrated Drive Electronics (IDE), IEEE- 1394, Universal Serial Bus (USB), fibre channel, Small Computer Systems Interface (SCSI), etc. The memory drives may further include a drum, magnetic disc drive, magneto-optical drive, optical drive, Redundant Array of Independent Discs (RAID), solid-state memory devices, solid-state drives, etc.

The memory (530) may store a collection of program or database components, including, without limitation, user/application, an operating system (528), a web browser (524), a mail client (520), a mail server (522), a user interface (526), and the like. In some embodiments, computer system (500) may store user/application data (518), such as the data, variables, records, etc. as described in this invention. Such databases may be implemented as fault- tolerant, relational, scalable, secure databases such as Oracle or Sybase.

The operating system (528) may facilitate resource management and operation of the computer system (500). Examples of operating systems include, without limitation, Apple Macintosh ™ OS X ™, UNIX ™, Unix-like system distributions (e.g., Berkeley Software Distribution (BSD), FreeBSD ™, Net BSD ™, Open BSD ™, etc.), Linux distributions (e.g., Red Hat™, Ubuntu ™, K-Ubuntu ™, etc.), International Business Machines (IBM ™) OS/2 ™, Microsoft Windows ™ (XP ™, Vista/7/8, etc.), Apple iOS ™, Google Android ™, Blackberry ™ Operating System (OS), or the like. A user interface may facilitate display, execution, interaction, manipulation, or operation of program components through textual or graphical facilities. For example, user interfaces may provide computer interaction interface elements on a display system operatively connected to the computer system (500), such as cursors, icons, check boxes, menus, windows, widgets, etc. Graphical User Interfaces (GUIs) may be employed, including, without limitation, Apple ™ Macintosh™ operating systems’ Aqua™, IBM ™ OS/2 ™, Microsoft™ Windows ™ (e.g., Aero, Metro, etc.), Unix X-Windows ™, web interface libraries (e.g., ActiveX, Java, JavaScript, AJAX, HTML, Adobe Flash, etc.), or the like.

The instant invention provides the technical solution to the technical problem of the existing enterprise billing system by automatically enabling printing of the invoice for payment processing and eliminating the requirement of custom integration with multiple POS devices/software. The system of the present invention further enables a merchant of an enterprise to configure the system using one-time configuration settings, so that the system can automatically identify the invoice elements based on the received print invoice request from the enterprise billing system. The technical advantage of the present invention is that the system requires one-time configuration and the print invoice request can be processed irrespective of any modification or updation of the enterprise billing system. The system can also be configured for any country as the system can support respective payment standards of one or more countries. Further, embedding of the unique invoice payment signature eliminates the requirement of integration with one or more payment processing systems. The system enables the automatic reconciliation of the invoice payment based on matching unique invoice payment signature upon receiving the payment notification. Thus, the present system automates the process of invoice printing with payment enablement and reconciliation of payment. Therefore, the system of the instant invention provides an automated, robust, highly scalable, dynamic platform to the one or more enterprises for performing invoice processing seamlessly.

The illustrated steps are set out to explain the exemplary embodiments shown, and it should be anticipated that ongoing technological development will change the manner in which particular functions are performed. These examples are presented herein for purposes of illustration, and not limitation. Further, the boundaries of the functional building blocks have been arbitrarily defined herein for the convenience of the description. Alternative boundaries can be defined so long as the specified functions and relationships thereof are appropriately performed. Alternatives (including equivalents, extensions, variations, deviations, etc., of those described herein) will be apparent to persons skilled in the relevant art(s) based on the teachings contained herein. Such alternatives fall within the scope and spirit of the disclosed embodiments. Also, the words "comprising," "having," "containing," and "including," and other similar forms are intended to be equivalent in meaning and be open ended in that an item or items following any one of these words is not meant to be an exhaustive listing of such item or items or meant to be limited to only the listed item or items. It must also be noted that as used herein and in the appended claims, the singular forms “a,” “an,” and “the” include plural references unless the context clearly dictates otherwise.

Furthermore, one or more computer-readable storage media may be utilized in implementing embodiments consistent with the present disclosure. A computer-readable storage medium refers to any type of physical memory on which information or data readable by a processor may be stored. Thus, a computer-readable storage medium may store instructions for execution by one or more processors, including instructions for causing the processor(s) to perform steps or stages consistent with the embodiments described herein. The term “computer-readable medium” should be understood to include tangible items and exclude carrier waves and transient signals, i.e., are non-transitory. Examples include random access memory (RAM), read-only memory (ROM), volatile memory, non-volatile memory, hard drives, CD ROMs, DVDs, flash drives, disks, and any other known physical storage media.

Finally, the language used in the specification has been principally selected for readability and instructional purposes, and it may not have been selected to delineate or circumscribe the inventive subject matter. Accordingly, the disclosure of the embodiments of the disclosure is intended to be illustrative, but not limiting, of the scope of the disclosure.

With respect to the use of substantially any plural and/or singular terms herein, those having skill in the art can translate from the plural to the singular and/or from the singular to the plural as is appropriate to the context and/or application. The various singular/plural permutations may be expressly set forth herein for sake of clarity.

Claims

We claim:

1. A method of enabling printing of an invoice for processing payment, method comprising: receiving a request for printing an invoice from a billing system coupled to a printing device, wherein the request comprises at least invoice related data; automatically identifying a set of invoice elements from the received invoice related data based on a predefined invoice configuration settings; dynamically generating a unique invoice payment signature based on the identified set of invoice elements; embedding the unique invoice payment signature in the invoice to be printed by the printing device; and transmitting the printed invoice embedded with the unique invoice payment signature to one or more payment processing systems for processing the payment of the invoice.

2. The method as claimed in claim 1, further comprising predefining the invoice configuration settings include steps of: receiving a plurality of one-time invoice configuration settings as input from a user; generating an invoice template in accordance with the plurality of one-time invoice configuration settings, wherein the invoice template is stored in an invoice data repository; and pre-configuring a payment code generation format based on country specific standards for enabling invoice payment.

3. The method as claimed in claim 2, wherein generating the invoice template comprising generating the invoice template using the plurality of one-time invoice configuration settings that include at least one or more of print paper size and width, maximum length of paper, invoice label, line number of label location, invoice data type, invoice length, invoice line number, amount label, amount data type, amount length, currency label, currency indicator, invoice date label, invoice date format, and invoice format.

4. The method as claimed in claim 1, wherein automatically identifying the set of invoice elements from the received invoice related data include automatically identifying the set of invoice elements such as invoice number, invoice amount, pricing currency, device ID, company logo, company name, date, goods or services purchased, quantity, price, applicable taxes and total due amount.

5. The method as claimed in claim 1, wherein dynamically generating the unique invoice payment signature comprises steps of: retrieving the pre-defined invoice template stored in the invoice data repository; mapping the set of invoice elements onto the pre-defined invoice template; generating the invoice to be printed based on the mapping of the set of invoice elements; and computing the unique invoice payment signature based on the pre-configured payment code generation format, and the set of mapped invoice elements, wherein the unique invoice payment signature conforms to the acceptable standards of the one or more payment processing systems.

6. The method as claimed in claim 1, wherein embedding the unique invoice payment signature in the invoice comprises the steps of: determining a printable area for the unique invoice payment signature based on printer configuration and paper configuration related to the printing device, wherein printer configuration contains data related to specifications of the printing device and paper configuration comprises data regarding paper size, format and other relevant information; and embedding the unique invoice payment signature on the printable area of the received invoice.

7. The method as claimed in claim 1, further comprising automatically performing reconciliation of a received payment and the generated invoice, wherein automatically performing reconciliation comprising steps of: receiving notification of payment for the invoice, wherein notification of payment is identified by one or more predefined international/domestic payment schemes and the unique invoice payment signature associated with the payment notification; transmitting the notification of payment to the billing system based on the device ID associated with the unique invoice payment signature; matching the unique invoice payment signature of payment notification with the one or more unique invoice payment signatures generated for one or more print invoice requests; and determining a reconciliation score indicating the reconciled outcome for the invoice having matching unique invoice payment signature in the invoice data repository.

8. The method as claimed in claim 1, further comprising: transmitting the invoice embedded with the unique invoice payment signature in digital format for facilitating payment by using a POS system; and optionally transmitting the invoice embedded with the unique invoice payment signature in a printed format to the customer for facilitating payment by using customer’s smart devices.

9. A system for enabling printing of an invoice for processing payment, the system comprising: a processor; and a memory communicatively coupled with the processor, wherein the memory stores processor-executable instructions, which on execution, cause the processor to: receive a request for printing an invoice from a billing system coupled to a printing device, wherein the request comprises at least invoice related data; automatically identify a set of invoice elements from the received invoice related data based on a predefined invoice configuration settings; dynamically generate a unique invoice payment signature based on the identified set of invoice elements; embed the unique invoice payment signature in the invoice to be printed by the printing device; and transmit the printed invoice embedded with the unique invoice payment signature to one or more payment processing systems for processing the payment of the invoice.

10. The system as claimed in claim 9, wherein the processor is further configured to predefine the invoice configuration settings by: receiving a plurality of one-time invoice configuration settings as input from a user; generating an invoice template in accordance with the plurality of one-time invoice configuration settings, wherein the invoice template is stored in an invoice data repository; and pre-configuring a payment code generation format based on country specific standards for enabling invoice payment.

11. The system as claimed in claim 10, wherein the processor is configured to generate the invoice template using the plurality of one-time invoice configuration settings that include at least one or more of print paper size and width, maximum length of paper, invoice label, line number of label location, invoice data type, invoice length, invoice line number, amount label, amount data type, amount length, currency label, currency indicator, invoice date label, invoice date format, and invoice format.

12. The system as claimed in claim 9, wherein the processor is configured to automatically identify the set of invoice elements from the received invoice related data, wherein the set of invoice elements include invoice number, invoice amount, pricing currency, device ID, company logo, company name, date, goods or services purchased, quantity, price, applicable taxes and total due amount.

13. The system as claimed in claim 9, wherein the processor is configured to dynamically generate the unique invoice payment signature by: retrieving the pre-defined invoice template stored in the invoice data repository; mapping the set of invoice elements onto the pre-defined invoice template; generating the invoice to be printed based on the mapping of the set of invoice elements; and computing the unique invoice payment signature based on the pre-configured payment code generation format, and the set of mapped invoice elements, wherein the unique invoice payment signature conforms to the acceptable standards of the one or more payment processing systems.

14. The system as claimed in claim 9, wherein the processor is further configured to embed the unique invoice payment signature in the invoice by: determining a printable area for the unique invoice payment signature based on printer configuration and paper configuration related to the printing device, wherein printer configuration contains data related to specifications of the printing device and paper configuration comprises data regarding paper size, format and other relevant information; and embedding the unique invoice payment signature on the printable area of the received invoice.

15. The system as claimed in claim 9, wherein the processor is further configured to automatically perform reconciliation of a received payment and the generated invoice by: receiving notification of payment for the invoice, wherein notification of payment is identified by one or more predefined intemational/domestic payment schemes and the unique invoice payment signature associated with the payment notification; transmitting the notification of payment to the billing system based on the device ID associated with the unique invoice payment signature; matching the unique invoice payment signature of payment notification with the one or more unique invoice payment signatures generated for one or more print invoice requests; and determining a reconciliation score indicating the reconciled output for the invoice having matching unique invoice payment signature in the invoice data repository.

16. The system as claimed in claim 9, wherein the processor is further configured to: transmit the invoice embedded with the unique invoice payment signature in digital format for facilitating payment by using a POS system; and optionally transmit the invoice embedded with the unique invoice payment signature in a printed format to the customer for facilitating payment by using customer’s smart devices.