Computing system supporting online purchases

• US 10,424,013 B2
• Filed: 02/20/2017
• Issued: 09/24/2019
• Est. Priority Date: 03/21/2000
• Status: Expired due to Term

• Current Assignee: PayPal, Inc. (PayPal Holdings, Inc.)
• Original Assignee: PayPal, Inc. (PayPal Holdings, Inc.)
• Inventors: Bennett, James D., Winslade, Christopher C.
• Primary Examiner(s): Rudy, Andrew Joseph
• Application Number:
  US15/437,051
• Publication Number:
  US 20170169510A1
• Time in Patent Office: 946 Days
• Field of Search: 705 261, 705 35
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0207 Discounts or incentives, e.g. coupons or rebates
• CPC Class Codes: G06Q 30/0222 During e-commerce, i.e. online transactions
• CPC Class Codes: G06Q 30/0224 based on user history
• CPC Class Codes: G06Q 30/0235 constrained by time limit or expiration date
• CPC Class Codes: G06Q 30/0239 Online discounts or incentives
• CPC Class Codes: G06Q 30/0244 Optimization
• CPC Class Codes: G06Q 30/0251 Targeted advertisements
• CPC Class Codes: G06Q 30/0253 During e-commerce, i.e. online transactions
• CPC Class Codes: G06Q 30/0255 based on user history
• CPC Class Codes: G06Q 30/0257 User requested
• CPC Class Codes: G06Q 30/0261 based on user location
• CPC Class Codes: G06Q 30/0269 based on user profile or attribute
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 30/0605 Supply or demand aggregation
• CPC Class Codes: G06Q 30/0611 Request for offers or quotes
• CPC Class Codes: G06Q 30/0613 Third-party assisted
• CPC Class Codes: G06Q 30/0625 Directed, with specific intent or strategy
• CPC Class Codes: G06Q 30/0641 Shopping interfaces
• CPC Class Codes: G06Q 40/03 : Credit; Loans; Processing thereof
• CPC Class Codes: G06Q 40/04 : Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G06Q 40/08 : Insurance

Abstract

An online system uses, in various embodiments of the invention, credit report information, loan affordability screening and credit approval and management functionality to facilitate the purchase and finance of products online. The online system may include both sellers of products and lenders that offer financing to buyers seeking to purchase the products. The system may automatically obtain a buyer'"'"'s credit report information and use that information to determine if the buyer is pre-approved, for example, to obtain financing for a particular product or products. The system also enables use of buyer credit information to identify only those of a seller'"'"'s products for which the buyer is pre-approved, for example, to finance using one or more loans. The system then enables selection of an identified product or products for purchase, and selection of a loan, for example, for financing of the selected product or products. Credit approval (or pre-approval) may be performed automatically, and along with credit processing, may be performed completely online.

Claims

1. A system comprising:

one or more processors and one or more computer-readable memories storing program instructions, the one or more processors configured to execute the program instructions to cause the system to perform operations comprising;

receiving financial information associated with a user;

in response to receiving the financial information associated with the user, utilizing the financial information to determine whether the user is pre-approved for financing for at least one item of one or more items; and

based on determining that the user is pre-approved for financing for the at least one item of the one or more items, and upon detecting a request for presentation of the one or more items;

filtering, in real time, the presentation of the one or more items so only the at least one item is presented to the user.

2. The system of claim 1, wherein the financial information includes credit information.

3. The system of claim 1, wherein the financial information includes one or more financial inputs provided by the user.

4. The system of claim 3, the operations further comprising:

based on receiving information detailing a change to the one or more financial inputs, re-determining whether the user is pre-approved for financing for the at least one item.

5. The system of claim 1, the operations further comprising determining that the user is not pre-approved for a set of the one or more items that does not include the at least one item.

6. The system of claim 1, the operations further comprising receiving identification information associated with the user, and based on the receiving the identification information, transmitting a request for the financial information associated with the user.

7. The system of claim 1, wherein determining whether the user is pre-approved for financing for at least one item includes electronically communicating the financial information and information associated with the at least one item to one or more financial providers.

8. The system of claim 1, the operations further comprising determining an amount of financing that the user is pre-approved for based on the financial information and the at least one item.