Businesses generally engage in agreements to purchase goods or services. For example, a retail business purchases items from one or more distributors to sell to the business' patrons. The purchase requires the buyer to pay the seller for the service or good. To pay for the good or service, the buyer may use one or more forms of payment or payment system. For example, the buyers and sellers may use an automated transfer between banks using the Automated Clearing House (ACH) network, a credit card using VISA™, MASTERCARD™, or other credit card system, a check, etc.
Generally, each buyer may use a different system to pay for goods or services, and each seller may use a different system to accept payment for goods or services. For example, one seller may accept credit card purchases while another seller may only accept checks. Unfortunately, this diversity between buyers, between sellers, and between buyers and sellers costs money for both buyers and sellers because the sellers and buyers must determine acceptable forms of payment and often convert payment from one form to another. Further, the varying payment systems can have different costs or one form of a payment may be more efficient or effective than another payment system.
It is in view of these and other considerations not mentioned herein that the embodiments of the present disclosure were envisioned.