A system and method of real-time interconnect billing to facilitate
invoicing and reconciliation between interconnected communication and
service providers. The fully customizable, scalable, and network-based
system rates and monitors costs, incorporates agreements between
interconnected providers, invoices, bills, and reconciles to establish an
accurate and cost-effective accounting of provider revenues and costs.
The system is able to communicate with devices, networks, and
interconnect providers to obtain, provide and exchange billing
information and payments. The system updates subscriber accounts and
alerts the home provider, subscribers, interconnect providers and users
of these updates.