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System and method for effecting a real-time payment for an item won on an electronic auction

  • US 20020095379A1
  • Filed: 01/11/2002
  • Published: 07/18/2002
  • Est. Priority Date: 01/17/2001
  • Status: Active Grant
First Claim
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1. A method for effecting payment for at least one item offered for sale by a seller and purchased by a buyer via an electronic auction web site, where the electronic auction web site is accessible by a plurality of users and maintained by an electronic auction system, the method comprising the steps of:

  • sending an e-mail by the electronic auction system to the buyer of the at least one item;

    receiving, via one of the electronic auction web site and the e-mail, at least one input from the buyer indicating an initiation to effect payment;

    providing a payment page to the buyer after receiving the at least one input from the buyer;

    receiving, via the payment page, authorization from the buyer to deduct funds from a payment account corresponding to the buyer;

    deducting funds from the payment account corresponding to the buyer; and

    using at least a portion of the deducted funds to effect payment to at least the seller, wherein the method for effecting payment does not provide for any interaction between the buyer and the seller.

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