SYSTEM AND METHOD FOR DISTRIBUTED CLEARING OF ELECTRONIC PAYMENTS

摘要

A system and method for providing electronic clearing of electronic buy-sell transactions in which the trust function is distributed among the banks of the transaction parties and payment is cleared through an electronic clearing bank that aggregates and nets credits of those banks. A buyer at node (10) has an e-credit line with a local bank (30). A seller at node (20) has an e-credit line with a local bank (40). An electronic marketplace (50) is provided for buy-sell transactions. An electronic clearinghouse (60) mediates electronic transactions between the buyer's bank (30) and seller's bank (40).