Transaction arbiter system and method

• US 10,360,608 B2
• Filed: 12/29/2017
• Issued: 07/23/2019
• Est. Priority Date: 05/16/2005
• Status: Expired due to Fees

• Current Assignee: Price Setter, L.L.C.
• Original Assignee: Jorge Maass
• Inventors: Maass, Jorge Arturo
• Primary Examiner(s): Baird, Edward J
• Application Number:
  US15/859,179
• Publication Number:
  US 20180121981A1
• Time in Patent Office: 571 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 multifunctional mobile communication device to implement a wide range of mobile software applications at remote points of activity via at least one high-speed mobile cellular data communication network in real-time or near real-time, comprising:

a device housing;

an interactive display screen generating at least one user interface;

at least part of a data communication exchange architecture;

a plurality of installed mobile software applications of which at least one of said plurality of installed mobile software applications involves bid transactions on a product or service including the location of the multifunctional mobile communication device;

a plurality of integrated data processing components;

a plurality of integrated data capturing components;

a plurality of integrated data communication components of which at least one of said plurality of integrated data communication components is configured to be operatively connected to a at least one high-speed mobile cellular data communication network;

said plurality of integrated data communication components and said at least part of a data communication exchange architecture configured for improving the speed of data processing and data transmission and implementing a plurality of integrated data communication methodologies including at least one high-speed mobile cellular data communication network;

said at least one high-speed mobile cellular data communication network being configured for simultaneous two-way transmission of data to and from a remote application server system, said remote application server system comprising at least one database storing provider data relating to one or more providers of said products or services;

said improved multifunctional mobile communication device performing a method comprising;

(a) Selecting from the plurality of installed mobile software applications at least one mobile software application involving bid transactions on a product or service;

(b) downloading via the at least one high-speed mobile cellular data communication network updates for the plurality of installed mobile software applications;

(c) capturing data via one or more of the plurality of integrated data capturing components including the location of the multifunctional mobile communication device;

(d) processing data via one or more of said plurality of integrated data processing components via the at least one mobile software application involving bid transactions on a product or service;

(e) connecting the multifunctional mobile communication device using one or more of the plurality of integrated communication components with the remote application server system via the at least one high-speed mobile cellular communication network;

(f) transmitting the data captured and processed by one or more of the plurality of integrated data capturing and processing components to the remote application server system via the at least one high-speed mobile cellular data communication network;

said data comprising bidding parameters for a particular product or service including the location of the multipurpose mobile communication device;

(g) receiving in real-time or near real-time at the remote application server system the data transmitted from the multifunctional mobile communication device;

said remote application server system storing executable instructions that configure one or more processors to;

preprocess provider data identifying from among a plurality of providers, a group of one or more providers that are associated with a location within a threshold distance of the current geographic location of the multifunctional mobile device;

identify, from among the plurality of providers, a subgroup of one or more providers providing the particular product or service;

access one or more functions to be used for the subgroup of the one or more providers;

wherein at least one of said functions defines an algorithm that, when performed, arbitrates a bid;

assemble, format and configure the provider data, the product or service data the bid data, the captured data and at least one bid adjusting functions in preparation for run time;

determine a bid for at least one provider of the subgroup of the one or more providers;

provide, in real-time or near real-time via the at least one high-speed mobile cellular data communication network, the bid for at least one corresponding provider from the subgroup of the one or more providers;

(h) generating a result by the remote application server system;

(i) receiving at the multifunctional mobile communication device in real-time or near real-time from the remote application server system via the at least one high-speed mobile cellular data communication network bid information generated by the remote application server system.

2. The improved multifunctional mobile communication device of claim 1, wherein the integrated components comprise scanning components, GPS components, cellular telephone components, and wireless communication components.

3. The improved multifunctional mobile communication device of claim 1, wherein the integrated data processing components comprise one or more mobile operating systems.

4. The improved multifunctional mobile communication device of claim 1, where in the plurality of integrated data communications components are further configured for performing a plurality of functions, the plurality of functions comprising functions for data routing and transferring, mobility management functions, and network access functions.

5. The improved multifunctional mobile communication device of claim 1, where in the plurality of integrated data communication components are further configured for exchanging, handing over and establishing a connection from, to and between a plurality of cellular and non-cellular wireless communication methods via at least one of the communication methodologies or a combination of communication methodologies as required for each of the plurality of mobile software applications for the transmission of data files specific to each individual communication event and data format.

6. The improved multifunctional mobile communication device of claim 1 wherein one or more of the plurality of mobile software applications interact with variable combinations of the data capturing components and the data processing components generating customized queries to the remote server system.

7. The improved multifunctional mobile communication device of claim 1, wherein one or more of the plurality of software applications are configured to be executed via the one or more data processing components, the one or more of the plurality of mobile software applications comprising instructions for at least one of:

displaying an electronic document on the interactive screen display wherein the electronic document includes a plurality of user input elements that include a respective user input element and performing at least one of several functions.

8. The improved multifunctional mobile communication device of claim 1, wherein at least one of the plurality of mobile software applications is a mobile software application manager application being configured to manage and disseminate other mobile applications at the request of the user of the multipurpose mobile hand-held devise.