Computer implemented system and method for a rent-to-own program

• US 10,089,682 B1
• Filed: 06/02/2014
• Issued: 10/02/2018
• Est. Priority Date: 05/31/2013
• Status: Expired due to Fees

• Current Assignee: FlexShopper, Inc.
• Original Assignee: FlexShopper, Inc.
• Inventors: Bernstein, Brad, Metzl, Justin, Galindo, Andres
• Primary Examiner(s): Ruhl, Dennis William
• Application Number:
  US14/293,751
• Time in Patent Office: 1,583 Days
• Field of Search: 604307
• CPC Class Codes: G06Q 30/0645 Rental transactions; Leasing transactions

Abstract

Various embodiments are directed to systems and methods for facilitating a rent-to-own transaction. A computer system may receive from a computer device input data describing a consumer and, based on the input data, determine a spending limit for the consumer. The computer system may also receive from the computer device an indication of a good selected by the consumer. Based on data describing the good, the computer system may determine whether the good is transaction eligible. When the good is transaction eligible, the computer system may transmit to the computer device an indication of terms of the rent-to-own transaction, such as a periodic payment due under the rent-to-own transaction. When the terms are accepted by the consumer, the computer system may instruct a fulfillment computer to direct the good to the consumer.

Claims

1. A system, comprising:

a consumer computer device;

a rent-to-own (RTO) system comprising at least one RTO computer device and a RTO management application, wherein the RTO management application is programmed to provide a RTO website comprising a plurality of RTO user interfaces; and

an e-commerce server in communication with the consumer computer device, wherein the e-commerce server comprises;

an e-commerce website application programmed to provide an e-commerce website comprising a plurality of e-commerce user interfaces, including a checkout interface, to the consumer computer device; and

a RTO plug-in integrated with the e-commerce website application, wherein the RTO plug-in is executable by the e-commerce server to complete an online RTO transaction through the e-commerce website by;

integrating, via the RTO plug-in, a selectable RTO control element in a payment option field of the checkout interface provided to the consumer computer device, wherein the RTO control element is selectable by the consumer to initiate the online RTO transaction as a payment option; and

after selection of the integrated RTO control element by the consumer, providing, via the RTO plug-in, one or more than one RTO user interface received from the RTO management application, to the consumer computer device;

wherein the RTO management application is further programmed to;

receive from the consumer computer device, via the RTO plug-in, input data describing the consumer;

based on the input data, determine a spending limit for the consumer;

receive from the consumer computer device, via the RTO plug-in, an indication of a good selected by the consumer on the e-commerce website;

receive data describing the good, wherein the data describing the good comprises a price of the good and a type of the good;

based on the data describing the good, determine that the good is transaction eligible;

transmit to the consumer computer device, via the RTO plug-in, an indication of terms of the online RTO transaction, wherein the terms indicate a periodic payment due under the online RTO transaction; and

receive from the consumer computer device, via the RTO plug-in, an acceptance of the terms; and

wherein the e-commerce website application is further programmed to, after the acceptance of the terms, provide a transaction confirmation interface to the consumer computer device which indicates the online RTO transaction as complete.

2. The system of claim 1, wherein the consumer computer device comprises a plurality of geographically distributed consumer computer devices.

3. The system of claim 1, wherein the e-commerce server is associated with a retailer, and wherein the RTO management application is further programmed to:

transmit to the consumer computer device a token indicating that the consumer has accepted the terms;

receive the token from a checkout device associated with the retailer;

upon receiving the token from the checkout device associated with the retailer, initiate payment for the good to the retailer.

4. The system of claim 1, wherein the RTO management application is further programmed to deduct the periodic payment from an account associated with the consumer.

5. The system of claim 1, wherein the RTO management application is further programmed to:

receive goods data from a plurality of fulfillment partners, wherein the goods data describes goods available from the fulfillment partners;

filter the goods data to identify transaction eligible goods indicated by the goods data;

provide to the consumer computer device a product user interface comprising goods described by the goods data.

6. The system of claim 1, wherein determining that the good is transaction eligible comprises determining whether the online RTO transaction involves a second good.

7. The system of claim 1, wherein the consumer computer device is programmed to scan the indication of the good selected by the consumer from the good.

8. The system of claim 1, wherein the RTO management application is further programmed to:

transmit to the consumer computer device, via the RTO plug-in, an indication that a price of the good is less than the spending limit for the consumer;

receive from the consumer computer device, via the RTO plug-in, an indication of a second good selected by the consumer; and

determine if a sum of prices for the good and the second good are less than the spending limit for the consumer.

9. The system of claim 1, wherein receiving from the consumer computer device the acceptance of the terms comprises receiving, via the RTO plug-in an electronic signature of a federal or state compliant RTO agreement.

10. The computer system of claim 1, wherein the e-commerce server is operated by a retailer not associated with a company operating the RTO system.

11. The computer system of claim 1, wherein the e-commerce server comprises a plurality of e-commerce servers, wherein each e-commerce server comprises the RTO plug-in, and wherein each RTO plug-in is executable by each respective e-commerce server to complete an online RTO transaction through a respective e-commerce website provided by each respective e-commerce server.

12. The computer system of claim 1, wherein the RTO plug-in is further executable by the e-commerce server to receive data from the RTO management application, wherein the data is associated with a proposed online RTO transaction, and wherein the data is used to populate a field in an e-commerce user interface.

13. The computer system of claim 1, wherein after selection of the integrated RTO control element by the consumer, the RTO plug-in is executable by the e-commerce server to display information associated with a proposed RTO transaction, wherein the information is received from the RTO management application via the RTO plug-in, and wherein the information comprises an estimated periodic payment.

14. The computer system of claim 1, wherein the one or more than one RTO user interface received from the RTO management application and provided to the consumer computer device comprises a RTO transaction screen comprising:

a log-in field for a registered consumer to log-in to the RTO management system via the RTO plug-in; and

an application field for an unregistered consumer to register with the RTO management system via the RTO plug-in.