Method and apparatus to evaluate and provide funds in online environments

• US 10,255,632 B2
• Filed: 01/24/2013
• Issued: 04/09/2019
• Est. Priority Date: 07/02/2012
• Status: Active Grant

• Current Assignee: American Express Kabbage Incorporated (American Express Company)
• Original Assignee: Kabbage Inc. (American Express Company)
• Inventors: Frohwein, Robert, Petralia, Kathryn, Gorlin, Marc
• Primary Examiner(s): Hayles, Ashford S
• Application Number:
  US13/749,671
• Publication Number:
  US 20140006202A1
• Time in Patent Office: 2,266 Days
• Field of Search: 705 261
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof

Abstract

A method, apparatus, and computer readable storage to implement a lending or cash advance system that can be (but is not required to be) integrated with an online commerce site. Sellers on the online commerce site can click a button or tab in their web browser that is visiting the online commerce site and information known to the online commerce site is automatically shared with a potential cash provider. Data from a delivery service can be automatically retrieved by the cash provider/cash server in order to determine the volume of shipments that the seller has been making. This volume can be used when the cash server determines the seller'"'"'s score in order to evaluate an application for cash.

Claims

1. A method of providing funds to a seller who lists an item for sale on an e-commerce web site hosted by a web server, the e-commerce web site comprising web pages that allows sellers to list goods for sale and allows buyers to bid on or purchase the goods for sale, the method comprising:

executing instructions on an electronic processor or processors to perform the following operations;

receiving, on a computer communications network, a request from the seller for a loan;

receiving transaction data from the e-commerce web site;

transmitting a unique identifier identifying the seller to a delivery server and receiving respective delivery data from the delivery server which also uses the unique identifier to identify the seller, the delivery data comprising a frequency of shipments from the seller and packages delivered;

evaluating the transaction data and the delivery data and determining a score, wherein transactions in the transaction data that do not have a corresponding delivery in the delivery data reduces the score, wherein transactions in the delivery data that do not have a corresponding transaction in the transaction data increases the score; and

making a determination of whether to approve the seller for the loan based on the score, the determination being to approve the seller for the loan; and

because of the determination to approve the seller for the loan, initiating a cash transfer to the seller which represents the loan.

2. The method as recited in claim 1, wherein the determination also comprises how much cash in the loan to extend to the seller.

3. An apparatus to provide funds to a seller who lists an item for sale on an e-commerce web site hosted by a web server, the e-commerce web site comprising web pages that allows sellers to list goods for sale and allows buyers to bid on or purchase the goods for sale, the apparatus comprising:

a processing unit executing computer readable instructions, the processing unit configured to;

receive, on a computer communications network, a request from the seller for a loan;

receive transaction data from the e-commerce web site;

transmit a unique identifier identifying the seller to a delivery server and receive respective delivery data from the delivery server which also uses the unique identifier to identify the seller, the delivery data comprising a frequency of shipments from the seller and packages delivered;

evaluate the transaction data and the delivery data and determine a score,

wherein transactions in the transaction data that do not have a corresponding delivery in the delivery data reduces the score, wherein transactions in the delivery data that do not have a corresponding transaction in the transaction data increases the score; and

make a determination of whether to approve the seller for the loan based on the evaluating; and

when the determination is to approve the loan, then initiate a cash transfer to the seller which represents the loan, and when the determination is not to approve the loan then the cash transfer is not initiated.

4. The apparatus as recited in claim 3, wherein the processing unit is further configured such that the determination also determines how much cash to extend to the seller.

5. The apparatus as recited in claim 3, wherein the processing unit is further configured such that the delivery data comprises weight of at least one shipment from the seller.