| 摘要 |
In a closed-loop business-payment network, a buyer is both an issuer and an acquirer of payment accounts, such as those associated with credit cards. Because no bank is involved in this issuance and acquisition, the transactions between the buyer and a merchant do not incur interchange fees and do not require transaction terminals, such as used for typical credit-card transactions. Under the agreement, variable early-payment rebates and other services are applied to each transaction on a per-transaction basis. This closed-loop allows the buyer to enforce purchase restrictions that are checked before a transaction is authorized, thereby eliminating or reducing fraud. This agreement also allows the issuer to impose different rebates and purchase restrictions, apply different services, and otherwise distinguish between different merchants. Preferably, the transaction platform is hosted by a third party, which can provide buyers and merchants a single interface to third-party services.
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