Abstract: A billing and payment method and system for networks incorporating long latency in their systems architectures is provided. As a result of this method and system, it is possible for customers and users to experience virtual real-time access to a network incorporating long latency in its systems architecture and for the network operator to incorporate operating procedures and controls and customer payment procedures and financial controls customarily available in real-time environments. In particular, the present invention is advantageous where reconciliation of accounts and verification of account balances cannot be done in short amounts of time due to high latency of the transmissions. Also, pre-paid and/or post-paid debit and/or credit cards can be used for purchases of goods and services in an environment whereby real-time verification of balances would not otherwise be possible.