Transaction arbiter system and method

• US 10,019,745 B2
• Filed: 11/14/2013
• Issued: 07/10/2018
• Est. Priority Date: 05/16/2005
• Status: Active Grant

• Current Assignee: Price Setter, L.L.C.
• Original Assignee: Jorge Maass
• Inventors: Maass, Jorge Arturo
• Primary Examiner(s): Baird, Edward J
• Application Number:
  US14/080,610
• Publication Number:
  US 20140081766A1
• Time in Patent Office: 1,699 Days
• Field of Search: 705 35- 40
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 30/0611 Request for offers or quotes
• CPC Class Codes: G06Q 30/08 Auctions
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

A transaction arbiter system and method is disclosed which incorporates a merchant function database under control of a transaction arbiter that permits merchants to interact in an automated way with bids generated by other merchants. Rather than utilizing fixed price schedules as taught by the prior art, the present invention permits each merchant to define a set of functions which describe how the merchant will respond to a customer request-for-quote for a given product or service. These merchant functions interact with both the customer request-for-quote and the results of other merchant functions to generate a dynamic real-time bidding system which integrates competition among merchant bidders to achieve an optimal consumer price for a given product or service.

Claims

1. An improved and scalable system to implement a wide range of mobile software applications at remote points of activity in real-time or near real-time over a high-speed networking and communication system, comprising:

At least one high-speed cellular mobile data communication network configured to improve the quality, capacity and speed of transferring data files between data input and output sources by simultaneously sending and receiving data between said data input and output sources;

A communication exchange architecture configured to exchange connectivity to, from and between said data input and output sources via a plurality of available communication methodologies including said at least one high-speed cellular mobile data communication network;

At least one multifunctional mobile device in communication with a remote server system via said communication exchange architecture, the at least one multifunctional mobile device comprising a plurality of integrated data communication components, a plurality of integrated data capturing components and a plurality of data processing components;

at least one of the plurality of integrated data communication components being configured to simultaneously send and receive data via the at least one high-speed cellular mobile data communication network;

said plurality of integrated data capturing components comprising integrated global positioning system components, integrated scanning components, and integrated advanced data capture components said plurality of integrated data capturing components and integrated data processing components configured to speed up the processing of data;

the at least one multifunctional mobile device further comprising at least one mobile software application and one or more integrated application processing components to interact with said plurality of integrated data capturing components;

said mobile software application configured to collect and process data and information relative to a bid transaction on a product or service;

said data and information including location of the at least one multifunctional mobile device, from one or more of the plurality of integrated data capturing components and the integrated scanning components, and to integrate said data and information along with other data specific to the at least one multifunctional mobile device and to send said data as a query to the remote server system; and

The remote server system comprising two or more servers, at least one of the two or more servers configured to implement mobile software applications and at least one of the two or more servers configured to implement network related applications including interoperability, interconnection and management applications related to the at least one high-speed cellular mobile data communication network and the at least one multifunctional mobile device;

The at least one multifunctional mobile device being an individual self-contained tool configured to perform the steps of;

(a) Operating, via one or more integrated mobile operating systems, one or more integrated mobile software applications, one or more integrated data processing components, one or more integrated data capturing components;

(b) Processing by one or more of the plurality of integrated data processing components data captured by one or more of the plurality of integrated data capturing components and extracting data relevant to the operatively connected mobile software application relative to the bid transaction on the product or service including location of the at least one multifunctional mobile device;

(c) Applying the extracted data to the operatively connected mobile software application, the operatively connected mobile software application integrating extracted data in preparation to be sent to the remote mobile application server system;

(d) Exchanging connectivity from, to and between the at least one multifunctional mobile device and the remote server system via the communication exchange architecture;

(e) Communicating via the at least one high-speed cellular mobile data communication network and implementing mobile applications functions to and with at least one of, code and rules stored in the remote mobile software application server processing component;

(f) Generating and sending by the remote mobile software application server processing component via the at least one high-speed cellular mobile data communication network a result satisfying the query generated by the at least one multifunctional mobile device and the operatively connected mobile software application;

(g) Receiving by the at least one multifunctional mobile device via the at least one of the plurality of integrated data communication components, and processing the received data via the at least one of the plurality of integrated data processing components;

displaying the result at the at least one multifunctional mobile device.