System and method for facilitating electronic purchasing
First Claim
1. A system for facilitating electronic purchasing, the system comprising:
- at least one user interface for enabling at least one user to select an item to purchase; and
a processor connected via a network to the user interface for determining available credit limit based upon a user account into which funds are periodically automatically deposited, determining the price of the selected item, comparing the price with the available credit limit, and if the price is less than or equal to the available credit limit, deducting the price from the available credit limit, and automatically deducting funds from the user account at prescribed periods, until the amount of the price has been deducted, wherein as funds are deducted from the user account, the amount of the deducted funds is added to the available credit limit.
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Abstract
A system and method facilitate electronic purchasing of an item selected for purchase. An available credit limit for the user is determined based upon a user account into which finds are periodically automatically deposited. The user account may be a payroll. The price of the selected item is determined and compared with the available credit limit. If the price is less than or equal to the available credit limit, the price is deducted from the available credit limit. Funds are automatically deducted from the user account at prescribed periods, until the amount of the price has been deducted. As funds are deducted from the user account, the amount of the deducted funds is added to the available credit limit. The available credit limit may also be determined based upon a charge account, and the user may designate whether to purchase the item using periodic deductions from the user account or by charging the price to the charge account. If the user designates to purchase the item by charging the price to the charge account, the price is deducted from the available credit limit. Upon payment by the user to the charge account, the amount of the payment is added to the available credit limit.
13 Citations
20 Claims
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1. A system for facilitating electronic purchasing, the system comprising:
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at least one user interface for enabling at least one user to select an item to purchase; and
a processor connected via a network to the user interface for determining available credit limit based upon a user account into which funds are periodically automatically deposited, determining the price of the selected item, comparing the price with the available credit limit, and if the price is less than or equal to the available credit limit, deducting the price from the available credit limit, and automatically deducting funds from the user account at prescribed periods, until the amount of the price has been deducted, wherein as funds are deducted from the user account, the amount of the deducted funds is added to the available credit limit. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
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11. A method for facilitating electronic purchasing, the method comprising:
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determining the price of an item selected for purchase by a user at a user interface;
determining an available credit limit based upon a user account into which finds are periodically automatically deposited;
comparing the price with the available credit limit;
determining the availability of the item; and
if the price is less than or equal to the available credit limit, deducting the price of the item from the available credit limit, and automatically deducting funds from the user account at prescribed periods until the amount of the price has been deducted, wherein as the finds are deducted from the user account, the amount of the deducted funds is added to the available credit limit. - View Dependent Claims (12, 13, 14, 15, 16, 17, 18, 19, 20)
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Specification