System and method for effecting a real-time payment for an item won on an electronic auction
First Claim
1. A method for effecting payment of an item offered for an auction sale by a seller and won by a winning bidder at the conclusion of an electronic auction where computer terminals of potential purchasers are used to access a computer site maintained by an auction server computer, said method comprising the steps of:
- debiting an electronic auction payment account corresponding to the winning bidder, where the electronic auction payment account is configured for storing funds therein; and
crediting at least one account corresponding to the seller to effect payment of the item won by the winning bidder.
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Accused Products
Abstract
The invention provides a computerized electronic auction payment system and method for effecting a real-time payment for an item won in an electronic auction by setting up and maintaining electronic auction payment accounts for prospective bidders and sellers. The prospective bidders provide funds to their electronic auction payment accounts maintained by the computerized electronic auction payment system, prior to being deemed as winning bidders, via direct deposit, using a credit card, or sending a check, money order, or other financial document to an operator of the computerized electronic auction payment system. In one embodiment, upon being deemed as a winning bidder, the winning bidder accesses a payment page, enters the total amount of funds to be transferred to the seller, and authorizes the computerized electronic auction payment system to effect a real-time payment by debiting his, i.e., the winning bidder'"'"'s, respective electronic auction payment account and crediting the electronic auction payment account of the seller, and/or another account specified by the seller. In an alternate embodiment, the prospective bidder authorizes the computerized electronic auction payment system to effect a real-time payment to the seller upon the prospective bidder being deemed the winning bidder (i.e., immediately following the conclusion of the auction). That is, without the winning bidder having to access the payment page.
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Citations
21 Claims
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1. A method for effecting payment of an item offered for an auction sale by a seller and won by a winning bidder at the conclusion of an electronic auction where computer terminals of potential purchasers are used to access a computer site maintained by an auction server computer, said method comprising the steps of:
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debiting an electronic auction payment account corresponding to the winning bidder, where the electronic auction payment account is configured for storing funds therein; and
crediting at least one account corresponding to the seller to effect payment of the item won by the winning bidder. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 15, 16, 17, 18, 19, 20)
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14. A system for effecting payment of an item offered for an auction sale by a seller and won by a winning bidder at the conclusion of an electronic auction where computer terminals of potential purchasers are used to access a computer site maintained by an auction server computer, said system comprising:
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means for maintaining a plurality of electronic auction payment accounts corresponding to potential users of the computer site, where the plurality of electronic auction payment accounts are configured for storing funds therein, and the plurality of electronic auction payment accounts include an electronic auction payment corresponding to the winning bidder and an electronic auction payment account corresponding to the seller;
means for debiting the electronic auction payment account corresponding to the winning bidder; and
means for crediting at least one account corresponding to the seller to effect payment of the item won by the winning bidder.
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21. A payment system for effecting payment to a seller of an item offered for an auction sale and won by a winning bidder at the conclusion of an electronic auction, said system comprising:
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a database containing a plurality of electronic auction payment accounts, where the plurality of electronic auction payment accounts are configured for storing funds therein, and where one of the plurality of electronic auction payment accounts corresponds to the winning bidder and one of the plurality of electronic auction payment accounts corresponds to the seller; and
a web server computer including application software for effecting payment by accessing the database and debiting an electronic auction payment account corresponding to the winning bidder and crediting at least one account corresponding to the seller.
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Specification