Method and system for maximizing credit card purchasing power and minimizing interest costs over the internet

• US 20020069122A1
• Filed: 02/21/2001
• Published: 06/06/2002
• Est. Priority Date: 02/22/2000
• Status: Abandoned Application

• Current Assignee: Arthur L. Bergman, Augustin Mateescu, Casey Ilsun Kim, Insun Yun, Jinhyong Seo, Wah Im, Yongjin Chang
• Original Assignee: Arthur L. Bergman, Augustin Mateescu, Casey Ilsun Kim, Insun Yun, Jinhyong Seo, Wah Im, Yongjin Chang
• Inventors: Yun, Insun, Seo, Jinhyong, Kim, Casey Ilsun, Mateescu, Augustin, Chang, Yongjin, Im, Wah, Bergman, Arthur L.
• Application Number:
  US09/789,466
• Publication Number:
  US 20020069122A1
• Time in Patent Office: Days
• US Class Current: 705/26
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

According the present invention, there is provided a method and system for facilitating an electronic commerce (e-commerce) transaction by a consumer, the method comprising: acquiring a purchase amount for an e-commerce transaction between a consumer and an Internet shopping portal; querying each of a plurality of consumer accounts for associated financial information; evaluating said associated financial information obtained for each of the plurality of consumer accounts; and facilitating a selection of one or more accounts based on the evaluation step to enable the consumer to complete the e-commerce transaction.

Claims

1. A method for facilitating an electronic commerce (e-commerce) transaction by a consumer, said method comprising:

(a) acquiring a purchase amount for an e-commerce transaction between a consumer and an Internet shopping portal;

(b) querying each of a plurality of consumer accounts for associated financial information;

(c) evaluating said associated financial information obtained for each of said plurality of consumer accounts; and

(d) facilitating a selection of one or more accounts based on said evaluation step to enable the consumer to complete said e-commerce transaction.

2. The method according to claim 1, said method further comprising a step of pre-registering said plurality of consumer accounts at a registry website.

3. The method according to claim 1, wherein said plurality of consumer accounts includes one or more credit card accounts.

4. The method according to claim 1, wherein said plurality of consumer accounts includes one or more retail credit card accounts.

5. The method according to claim 1, wherein said plurality of consumer accounts includes one or more electronic bank accounts.

6. The method according to claim 1, wherein said plurality of consumer accounts includes one or more electronic financial accounts.

7. The method according to claim 1, said method further comprising a step of:

recommending an account to the consumer based on said evaluation step to thereby enable the consumer to complete said e-commerce transaction.

8. The method according to claim 2, said method further comprising the steps of:

creating a virtual account at said registry website that merges available balances of two or more of said plurality of consumer accounts to enable the consumer to fund said purchase amount for said e-commerce transaction.

funding said purchase amount with funds drawn from said two or more consumer accounts to complete said e-commerce transaction.

9. The method according to claim 8, said funding step further comprising a step of:

enabling the consumer to selectively adjust funds to be drawn from said two or more accounts to equal said purchase amount in accordance with consumer preferences.

10. The method according to claim 2, said method further comprising the steps of:

transmitting from said registry website a program to a consumer'"'"'s computer and installing said program at the consumer'"'"'s computer; and

instantiating said program by the consumer to display an account management frame to facilitate said e-commerce transaction by the consumer.

11. The method according to claim 2, said method further comprising the steps of:

transmitting from said registry website an account management frame for facilitating the consumer to complete said e-commerce transaction.

12. The method according to claim 10, said method further comprising a step of:

displaying via said account management frame financial information for said plurality of consumer'"'"'s accounts, said financial information including available balance and applicable interest rate.

13. The method according to claim 11, said method further comprising a step of:

enabling the consumer to refresh said financial information displayed via said account management frame during a shopping transaction.

14. The method according to claim 1, said method further comprising a step of:

automatically providing financial information associated with a selected account to a shopping portal to enable the consumer to complete said e-commerce transaction.

15. The method according to claim 1, said method further comprising a step of:

displaying a web frame for said consumer, said web frame having financial information for said selected account; and

enabling the consumer to drag and drop said financial information to a shopping portal web page to complete said e-commerce transaction.

19. The system according to claim 18, said registry website further comprising a means for pre-registering said plurality of consumer accounts.

20. The system according to claim 18, said account management frame further comprising a means for recommending an account for said purchase amount to the consumer based on said evaluation to thereby enable the consumer to complete said e-commerce transaction.

21. The system according to claim 18, said account management frame further comprising a means for enabling the consumer to create and fund a virtual account to satisfy said purchase amount at said registry website by merging available balances of two or more consumer'"'"'s accounts to thereby enable the consumer to complete said e-commerce transaction.

22. The system according to claim 21, said account management frame further comprising a means for enabling the consumer to selectively adjust funds to be drawn from said two or more accounts to equal said purchase price in accordance with consumer preferences.

23. The system according to claim 21, said account management frame further comprising a means for displaying financial information for said plurality of consumer'"'"'s accounts, said financial information including available balance and applicable interest rate.

24. The system according to claim 18, said account management web frame further comprising a means for enabling the consumer to refresh said financial information displayed via said account management frame.

16. A method for facilitating an electronic commerce (e-commerce) transaction by a consumer, said method comprising:

(a) acquiring a purchase amount for an e-commerce transaction between a consumer and an Internet shopping portal;

(b) querying each of a plurality of consumer accounts for associated financial information;

(c) evaluating said associated financial information obtained for each of said plurality of consumer accounts; and

(d) recommending an account to the consumer based on said evaluation step to thereby enable the consumer to select said account to complete said e-commerce transaction.

17. A method for facilitating an electronic commerce (e-commerce) transaction by a consumer, said method comprising:

(a) acquiring a purchase amount for an e-commerce transaction between a consumer and an Internet shopping portal;

(b) querying each of a plurality of consumer accounts for associated financial information;

(c) evaluating said associated financial information obtained for each of said plurality of consumer accounts;

(d) creating a virtual account to merge available balances of two or more of said plurality of consumer accounts to enable the consumer to fund said purchase amount; and

(e) funding said purchase amount drawn from said two or more consumer accounts to complete said e-commerce transaction.

18. A system for facilitating electronic commerce (e-commerce) transactions by one or more consumers, said system comprising:

(a) a registry website server for registering a plurality of consumer accounts for each consumer and for transmitting financial information associated therewith to an account manager frame at a consumer'"'"'s computer;

(b) a web browser at the consumer'"'"'s computer for communicating to an e-commerce server to perform an e-commerce transaction for a purchase amount, said transaction being initiated by the consumer at said web browser;

(c) said account management frame querying said registry website server to obtain said financial information for each of said plurality of consumer accounts, evaluating said financial information and facilitating the selection of one or more consumer accounts based on said evaluation to enable the consumer to complete said e-commerce transaction.

25. A system for facilitating electronic commerce (e-commerce) transactions by one or more consumers, said system comprising:

(a) a registry website server for registering a plurality of consumer accounts for each consumer and for transmitting financial information associated therewith to an account manager frame at a consumer'"'"'s computer, said consumer directing said account management frame to recommend one of consumer'"'"'s accounts for a purchase price associated with an e-commerce transaction;

(b) a web browser at the consumer'"'"'s computer for communicating to an e-commerce server to perform said e-commerce transaction, said transaction being initiated by the consumer at said web browser;

(c) said account management frame querying said registry website server to obtain said financial information for each of said plurality of consumer accounts, evaluating said financial information and recommending a consumer account based on said evaluation to enable the consumer to complete said e-commerce transaction.

26. A system for facilitating electronic commerce (e-commerce) transactions by one or more consumers, said system comprising:

(a) a registry website server for registering a plurality of consumer accounts for each consumer and for transmitting financial information associated therewith to an account manager frame at a consumer'"'"'s computer, said consumer directing said account management frame to merge one or more of consumer'"'"'s accounts for a purchase price associated with an e-commerce transaction;

(b) a web browser at the consumer'"'"'s computer for communicating to an e-commerce server to perform an e-commerce transaction, said transaction being initiated by the consumer at said web browser;

(c) said account management frame acquiring said purchase amount for said e-commerce transaction from the consumer, querying said registry website server to obtain said financial information for each of said plurality of consumer accounts, evaluating said financial information and enabling the consumer to create and fund a virtual account at said registry website by merging available balances of two or more consumer'"'"'s accounts to enable the consumer to complete said e-commerce transaction.