Electronic quantity purchasing system

• US 20020029171A1
• Filed: 03/15/2001
• Published: 03/07/2002
• Est. Priority Date: 03/15/2000
• Status: Abandoned Application

• Current Assignee: Premier Points Incorporated
• Original Assignee: Premier Points Incorporated
• Inventors: Senior, Rodney
• Application Number:
  US09/805,950
• Publication Number:
  US 20020029171A1
• Time in Patent Office: Days
• US Class Current: 705/26
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 50/06 Energy or water supply

Abstract

Disclosed is an electronic quantity purchasing system which is a host computer that a user may access to pre-purchase quantities of goods or services for later redemption. The preferred communication means employed is via secure, high-speed Internet access. Data storage is electronic. Users employ the system to make an instant purchase of a small or large quantity of a commodity, such as gasoline at the current market price. The quantity purchased is credited to the user'"'"'s account, and the account balance or reserve is established in quantity units (e.g. gallons of fuel). Users can redeem all or part of their balance for real product at a retail location over time. The redemption will draw down the user'"'"'s account balance. The transaction is carried out in quantity units, so the user is able to circumvent the market price in effect at the time of redemption.

Claims

1. A method for selling product on-line, where computer terminals of potential purchasers are used to access a computer site comprising a selling computer, said method comprising:

(A) displaying general information about each product offered for sale to identify same;

(B) displaying the current price and quantities at which the product is being offered for sale;

(C) providing each potential purchaser with an actuation control for instructing the selling computer of the decision to purchase the product at the displayed price;

(D) registering potential purchasers and obtaining and recording financial data for automated payment of purchased product;

(E) upon said purchaser operating said actuation control, and further upon receipt of said financial information, initiating a funds transfer to complete the sale and confirming purchase of the product by sending a message to the potential purchaser;

(F) storing information about the purchase in purchaser'"'"'s account, including quantity of product purchased, for later dissemination to purchaser and/or entity delivering product to purchaser;

(G) deferring delivery of quantities of purchased product, in whole or in part, until such time as purchaser requests delivery;

(H) updating stored information whenever purchaser takes delivery of any portion of purchased product, or whenever additional product is purchased.

2. A method of selling on-line as claimed in claim 1, wherein step (D) can occur prior to operation of actuation control in step (E) or immediately thereafter.

3. A method of selling product on-line as claimed in claim 2, wherein said selling computer is directly connected to separate and distinct financial institutions for real time confirmation of an acceptable financial transaction of the purchase price of the product.

4. A method of selling product on-line as claimed in claim 2, wherein the product being sold can be goods or services.

5. A method of selling product on-line as claimed in claim 4, wherein the product being sold is gasoline.