WO2022043888A1 - Transaction - Google Patents

Transaction Download PDF

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Publication number
WO2022043888A1
WO2022043888A1 PCT/IB2021/057785 IB2021057785W WO2022043888A1 WO 2022043888 A1 WO2022043888 A1 WO 2022043888A1 IB 2021057785 W IB2021057785 W IB 2021057785W WO 2022043888 A1 WO2022043888 A1 WO 2022043888A1
Authority
WO
WIPO (PCT)
Prior art keywords
transaction
vendor
requisition
account
payment
Prior art date
Application number
PCT/IB2021/057785
Other languages
English (en)
Inventor
Nicolaas Jacobus THERON
Original Assignee
Incatorque (Pty) Ltd
Priority date (The priority date is an assumption and is not a legal conclusion. Google has not performed a legal analysis and makes no representation as to the accuracy of the date listed.)
Filing date
Publication date
Application filed by Incatorque (Pty) Ltd filed Critical Incatorque (Pty) Ltd
Publication of WO2022043888A1 publication Critical patent/WO2022043888A1/fr

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Classifications

    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/08—Payment architectures
    • G06Q20/10—Payment architectures specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
    • G06Q20/108—Remote banking, e.g. home banking

Definitions

  • This invention relates to transacting.
  • the invention relates to a guaranteed payment transaction and processing system, to a method of transacting and processing, and more specifically to a method of processing a requisition in order to guarantee the payment or settlement of such transaction and requisition.
  • the invention further relates to an instrument provided to represent guarantee capabilities in a digital format.
  • the inventor is aware of online banking systems and online transaction systems. All online banking systems and transaction systems provide a consumer with a user interface from which transactions can be conducted on a bank account or on a trading platform.
  • banking system users can create beneficiaries and effect payment to beneficiaries.
  • beneficiaries (as vendors of goods and/or services) do not have control over such payments as they are merely recipients of payments for the goods and/or services that they provide. This leaves the vendors at a risk that they might provide goods and/or services and might not receive payment for such goods/services.
  • This payment scenario becomes more complex where the vendor is part of a longer supply chain involving multiple vendors (as beneficiaries) and multiple consumers (vendors downstream of the supply chain) that need to be paid.
  • the supply chain is more dynamic in terms of volume of transactions that need to be performed per time interval or in which the value of transactions do not warrant the administrative burden to obtain bank guarantees, bank guarantees and government bonds are not practical mechanisms to guarantee payment.
  • a specific example is when a consumer places and order on a vendor, which in turn places an order on a supplier, for delivery to the consumer.
  • a guaranteed payment transaction and processing system which includes a banking interface arranged simultaneously to interface with a plurality of third party commercial banks at which a plurality of bank accounts are hosted; a user interface arranged to interface with a plurality of user devices operable to receive transaction instructions from the user devices; a general ledger system operatively connected to the banking interface and the user interface, operable to cause transactions in the plurality of commercial bank accounts in accordance with transaction instructions received from the plurality of users via the user interface.
  • a general ledger system This term is used in the specification to refer to an internally hosted general ledger, a cloud hosted general ledger, or a distributed ledger system, such as a blockchain ledger.
  • the banking interface may be in the form of Host to Host and Application Programming bank interfaces that may be implemented through a secure point to point integration between the guaranteed payment transaction processing system and the different banks in accordance with requirements and specification provided by each applicable bank.
  • the transactions that may be conducted on the general ledger system may include any transaction that can be performed directly on a banking interface and may be conducted on the general ledger system at periodic intervals. It is to be appreciated that the periodic time intervals may result in near real time transactions.
  • the system may be integrated with any bank for which a Host to Host or Application Programming interface may be provided, the system may conduct the same transactions users can conduct online in their bank accounts in "near real time".
  • the “near real time” ability refers to “Notify”, “Provisional Transactional Information” or Rapid Payments which is recorded in the system in “near real time” and reconciled with the actual bank statements received on a daily basis.
  • the system may thus contain a copy of all transactions on the bank account which is available through the system.
  • the user interface may include user profile definitions, selected from any one of a consumer’s profile, vendor profile, supplier profile and a system operator profile.
  • any reference to the term services should be interpreted to include any financial contracts such as futures, options and guarantees.
  • the definition of a consumer will be an entity that receive goods and/or services against payment from any one or more of their bank accounts.
  • a vendor will be an entity that provides goods and/or services against payment into any one or more of their bank accounts.
  • a supplier will be an entity that provides goods and/or services to the vendor against payment into any one or more of their bank accounts.
  • system operator will be an entity that does not receive or provide goods and/or services, but that is involved in the management of the system.
  • the definition of a third-party payment provider will be an entity that is authorised to accept funds, to hold funds and process funds for payment to third parties on behalf of consumers, vendors and suppliers.
  • the transaction instructions related to the consumer profile may include any one or more of: adding a desired transaction, creating a requisition for a desired transaction, creating a goods received note, reconciling a transaction and recording a payment/balancing an account from which payment was effected.
  • the transaction instructions related to the vendor profile may include any one or more of: accepting or rejecting a requisition, allocating a requisition, cancelling a requisition, confirming a delivery and processing a requisition settlement.
  • the transaction instructions related to the supplier profile may include any one or more of: monitoring the transaction progress, viewing of requisitions, balances and withdrawal of available funds.
  • the transaction instructions related to the system operator may include configuration of the client requirement, the configuration of the supplier, the vendors and its consumers, the activation of system users, assigning roles and permissions and general commissioning of the system that may facilitate the processing of transactions configured for specific purposes and for specific utilisation with the ultimate ability to guarantee such payments.
  • the general ledger system may include a plurality of sub-ledgers associated with each commercial bank account to which it is operatively connected.
  • the general ledger system may thus be operable to cause a transaction in any one of the sub-ledgers associated with each commercial bank account.
  • the transaction system may include a rules engine, operable to direct the transactions caused by the general ledger system.
  • the rules engine may automate transactions based on certain predefined rules which, when a certain incident takes place, would cause the rule engine to direct transactions following such incident.
  • the invention extends to a method of transacting and processing, which includes providing a transaction system as described; receiving transaction instructions from the plurality of user devices via the user interface; conducting transactions on the general ledger system according to the transaction instructions received; and causing transactions directly in the specifically styled commercial banking accounts of the consumer, vendor and supplier via the banking interface.
  • account should be interpreted as referring to either one of a bank account hosted by a commercial bank or a general ledger accounted hosted in the public or private domain.
  • conducting a transaction may include processing a requisition, which includes receiving a request from a consumer for funds to be reserved in their account for a particular transaction; receiving a requisition for goods/services to be supplied for the particular transaction from the consumer for which the funds were reserved; forwarding the requisition for acceptance or rejection to a vendor; upon acceptance of the requisition from the vendor, locking funds in the account of the consumer to the value of the requisition to enable the guaranteed payment of such requisition; allocating a requisition to the supplier of the vendor, locking funds in the account of the vendor to the value of the requisition to guarantee payment with the supplier; capturing a goods received notice from a consumer to a vendor; receiving a request for settlement of the requisition from a vendor; creating a payment instruction to the account of the consumer against the funds that were locked and guaranteed for payment into an account of the vendor; creating a payment instruction to the account of the vendor against the funds that were locked
  • the transaction may include, after acceptance of the requisition from the vendor, the step of permitting the vendor to cancel the transaction following which the reserved funds will be released in the account of the consumer.
  • the transaction may include, after acceptance of the requisition from the vendor, the step of permitting the vendor to allocate the requisition to the supplier which funds due to the supplier will be locked in the vendor account and payment guaranteed to the vendor and the supplier.
  • Figure 1 shows a schematic block diagram of a flow diagram of a transaction system in accordance with one aspect of the invention
  • Figure 2 shows a flow diagram of a method of transacting in accordance with another aspect of the invention.
  • Figure 3 shows a flow diagram of a method of transacting in accordance with one aspect of the invention in which an order processing transaction is executed.
  • a transaction system (10) is shown.
  • the transaction system includes a banking interface (12) arranged simultaneously to interface with a plurality of third-party commercial banks (14.1-14.3) which are holding a plurality of bank accounts (14.1.1-14.3.3).
  • the transaction system (10) further includes a user interface (16) arranged to interface with a plurality of user devices (18.1-18.3).
  • the user devices (18.1-18.3) are operable, via the user interface (16) to direct a variety of transactions on the plurality of commercial banking accounts (14.1.1-14.3.3) to which the banking interface (12) is operatively connected.
  • the user devices (18.1-18.3) can take the form of any computer, mobile device, mobile telephone, loaded with an application to interface with the user interface (16).
  • the user interface can be in the form of a web interface, an application programming interface (API), or the like.
  • API application programming interface
  • the transaction system (10) hosts a general ledger system (20) operatively connected to the plurality of commercial banking accounts (14.1.1-14.3.3) via the banking interface (12) and to the user devices (18.1-18.3) via the user interface (16), operable to cause transactions in the plurality of commercial banking accounts (14.1.1-14.3.3) in accordance with directions received from the plurality of users via the user interface (16).
  • a general ledger system (20) operatively connected to the plurality of commercial banking accounts (14.1.1-14.3.3) via the banking interface (12) and to the user devices (18.1-18.3) via the user interface (16), operable to cause transactions in the plurality of commercial banking accounts (14.1.1-14.3.3) in accordance with directions received from the plurality of users via the user interface (16).
  • the general ledger system (20) as shown in Figure 1 can be implemented on an internal server, a cloud-based server or preferably on a distributed ledger system, such as a blockchain system, or the like.
  • the third-party commercial banks (14.1-14.3) are connected to the banking interface (12) via a network (22). It is to be appreciated that this network may be a public network, such as the Internet or a dedicated private leased line network.
  • the user devices (18.1-18.3) are connected to the user interface (16) via a public network (24), such as the Internet.
  • a method of transacting (50) is shown on the highest level.
  • the method starts at 52 in which a banking interface (12) is provided.
  • the banking interface is arranged simultaneously to interface with a plurality of third-party commercial banks (14.1-14.3) which are holding a plurality of bank accounts (14.1.1- 14.3.3).
  • the method of transacting (50) provides a user interface (16) arranged to interface with a plurality of user devices (18.1-18.3) thereby to direct a plurality of transactions on the plurality of commercial banking accounts (14.1.1- 14.3.3).
  • the method of transacting (50) provides a general ledger system (20) operatively connected to the plurality of third-party commercial banks (14.1-14.3) via the banking interface (12) and operatively connected to the plurality of user devices (18.1-18.3) via the user interface (16).
  • the method of transacting (50) includes receiving directions from the plurality of user devices (18.1-18.3) via the user interface (16).
  • the method concludes with conducting transactions on the general ledger system (20) according to directions from the plurality of user devices (18.1 -18.3) and then executing such transactions directly in the commercial banking accounts (14.1.1-14.3.3) via the banking interface (12) to which the plurality of third-party commercial banks (14.1-14.3) are connected.
  • FIG 3 the transaction flow as a method of transacting (50) is shown in detail.
  • the transaction flow between a user (18.1) with a consumer profile, the transaction system (10), a commercial bank (14), a user (18.2) with a vendor profile and a user (18.3) with a supplier profile is shown as can be seen on the left axis of the flow diagram.
  • the method of processing a requisition includes the following steps: -At 102 a user (18.1) with a consumer profile (a consumer) adds a good/service to be procured to a basket;
  • the general ledger system (20) of the transaction system (10) verifies that the user (18.1 ) has funds available in their selected account (14.1.1);
  • the funds required to cover the requisition is reserved by the general ledger system (20), pending acceptance of the requisition by the vendor;
  • a user (18.2) with a vendor profile is given the option to reject the requisition at 114 or to accept the requisition at 116;
  • the supplier (18.3) receives the requisition; through the general ledger system;
  • the consumer (18.1) generates a goods received notice in the general ledger system
  • the vendor (18.2) confirms the quantity of goods/services delivered and process the requisition at 128 in the general ledger system;
  • the general ledger system (20) creates a payment file and forward it at 132 to the bank (14.2) which holds the vendor's bank account 14.2.1 ;
  • the settlement is made from the bank account (14.1 .1 ) of the consumer
  • the settlement is made from the bank account (14.2.1 ) of the vendor
  • the general ledger system (20) receives a confirmation that the payment has been effected as at 135 and 137 above;
  • the transaction is reconciled by the general ledger system (20) and the consumer (18.1 ) records are updated at 138.
  • the inventor believes that the invention provides a new a transaction and processing system, to a method of guaranteed transacting and processing, and in particular a new method of processing a requisition, which will be if particular use in industry.
  • this invention achieves the objective to provide a transaction and processing system and a method of transacting applying general distributed ledger principles that guarantees payment from a consumer to a vendor and ultimately also the supplier upon compliance with certain delivery/acceptance criteria of goods and/or services. It further achieves the objective to provide such system and method through normal commercial banking systems.
  • the system and method thus provide a guaranteed, automated and secure method of payment for goods/services.
  • this system and method is scalable into a larger supply chain system. The above objectives are achieved by ensuring that funds that are available in the respective parties' bank accounts remain available for the specific purpose for which such funds have been allocated.

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  • Business, Economics & Management (AREA)
  • Accounting & Taxation (AREA)
  • Finance (AREA)
  • Development Economics (AREA)
  • Economics (AREA)
  • Strategic Management (AREA)
  • Physics & Mathematics (AREA)
  • General Business, Economics & Management (AREA)
  • General Physics & Mathematics (AREA)
  • Engineering & Computer Science (AREA)
  • Theoretical Computer Science (AREA)
  • Financial Or Insurance-Related Operations Such As Payment And Settlement (AREA)

Abstract

L'invention concerne un système de traitement et de transaction de paiement garanti, qui comprend une interface bancaire agencée simultanément pour être en interface avec une pluralité de banques commerciales tierces au niveau desquelles une pluralité de comptes bancaires sont hébergés, une interface utilisateur agencée pour servir d'interface avec une pluralité de dispositifs utilisateurs pouvant fonctionner pour recevoir des instructions de transaction provenant des dispositifs utilisateurs, un système de grand livre général connecté de manière fonctionnelle à l'interface bancaire et à l'interface utilisateur, le système de grand livre général pouvant fonctionner pour effectuer des transactions dans la pluralité de comptes bancaires commerciaux selon les instructions de transaction reçues depuis la pluralité d'utilisateurs à travers l'interface utilisateur. L'interface bancaire peut se présenter sous la forme d'interfaces bancaires hôte à hôte et de programmation d'applications. Les transactions qui peuvent être effectuées peuvent comprendre toute transaction qui peut être effectuée directement sur une interface bancaire et peut être exécutée sur le système de grand livre général périodiquement.
PCT/IB2021/057785 2020-08-25 2021-08-25 Transaction WO2022043888A1 (fr)

Applications Claiming Priority (2)

Application Number Priority Date Filing Date Title
ZA202005267 2020-08-25
ZA2020/05267 2020-08-25

Publications (1)

Publication Number Publication Date
WO2022043888A1 true WO2022043888A1 (fr) 2022-03-03

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Application Number Title Priority Date Filing Date
PCT/IB2021/057785 WO2022043888A1 (fr) 2020-08-25 2021-08-25 Transaction

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WO (1) WO2022043888A1 (fr)
ZA (1) ZA202106133B (fr)

Citations (5)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
DE19628045A1 (de) * 1996-07-11 1998-01-22 Esd Information Technology Ent Verfahren und Anordnung zur Integration von Kunden/Händlern innerhalb bestehender Zahlungsstrukturen bei der Abwicklung des Zahlungsverkehrs über Netze
US20020065773A1 (en) * 1991-07-25 2002-05-30 Checkfree Corporation Guaranteed payment method and system
US20060112011A1 (en) * 2002-09-16 2006-05-25 Al-Ali Abdulhadi M Electronic banking system
US20170323294A1 (en) * 2016-05-06 2017-11-09 Mastercard International Incorporated Method and system for instantaneous payment using recorded guarantees
WO2020098834A2 (fr) * 2020-02-03 2020-05-22 Alipay (Hangzhou) Information Technology Co., Ltd. Cautionnements de confiance à base de chaîne de blocs

Patent Citations (5)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
US20020065773A1 (en) * 1991-07-25 2002-05-30 Checkfree Corporation Guaranteed payment method and system
DE19628045A1 (de) * 1996-07-11 1998-01-22 Esd Information Technology Ent Verfahren und Anordnung zur Integration von Kunden/Händlern innerhalb bestehender Zahlungsstrukturen bei der Abwicklung des Zahlungsverkehrs über Netze
US20060112011A1 (en) * 2002-09-16 2006-05-25 Al-Ali Abdulhadi M Electronic banking system
US20170323294A1 (en) * 2016-05-06 2017-11-09 Mastercard International Incorporated Method and system for instantaneous payment using recorded guarantees
WO2020098834A2 (fr) * 2020-02-03 2020-05-22 Alipay (Hangzhou) Information Technology Co., Ltd. Cautionnements de confiance à base de chaîne de blocs

Non-Patent Citations (1)

* Cited by examiner, † Cited by third party
Title
ANONYMOUS: "Guaranteed Payments for High Risk Merchants", 1 October 2012 (2012-10-01), pages 1 - 10, XP055910321, Retrieved from the Internet <URL:https://www.paynetsecure.net/guaranteed-payments-for-high-risk-merchants> [retrieved on 20211112] *

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ZA202106133B (en) 2022-09-28

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