Online staging of auction settlement transactions

• US 20030229578A1
• Filed: 03/27/2003
• Published: 12/11/2003
• Est. Priority Date: 03/27/2002
• Status: Active Grant

• Current Assignee: Western Union
• Original Assignee: First Data Corporation (Fiserv Incorporated)
• Inventors: Hansen, David L., Baumgart, Mark D.
• Granted Patent: US 7,849,006 B2
• Time in Patent Office: Days
• US Class Current: 705/37
• CPC Class Codes: G06Q 20/02 involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/12 specially adapted for electronic shopping systems
• CPC Class Codes: G06Q 20/381 Currency conversion
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

A method for paying for an auction item at least partially using an online payment system by a payor to compensate a payee includes receiving at a host computer system payment information relating to a transaction. The payment information includes comprising at least a payee identifier, a first payment amount, and an auction identifier. The auction identifier relates to an auction that was won by the payor that was for the auction item. The method also includes generating a transaction identifier at the host computer system and transmitting the transaction identifier to the payor. The method further includes receiving at a retail location a payment and using the transaction identifier to relate the payment to the transaction. The method further includes making a second payment amount available to the payee. The second payment amount may be based on the payment.

Claims

1. A method of paying for an auction item at least partially using an online payment system by a payor to compensate a payee, the method comprising:

providing confirmation to the payor that the payor won an electronic auction;

receiving a selection from the payor to settle the auction via a transaction that is staged online;

at a host computer system, receiving payment information relating to a transaction comprising at least a payee identifier, a first payment amount, and an auction identifier, wherein the auction identifier relates to the auction won by the payor;

generating a transaction identifier at the host computer system;

transmitting the transaction identifier to the payor;

at a retail location, receiving a payment and using the transaction identifier to relate the payment to the transaction; and

making a second payment amount available to the payee based on the payment.

2. A method for paying for an auction item at least partially using an online payment system by a payor to compensate a payee, the method comprising:

at a host computer system, receiving payment information relating to a transaction comprising at least a payee identifier, a first payment amount, and an auction identifier, wherein the auction identifier relates to an auction that was won by the payor that was for the auction item;

generating a transaction identifier at the host computer system;

transmitting the transaction identifier to the payor;

at a retail location, receiving a payment and using the transaction identifier to relate the payment to the transaction; and

making a second payment amount available to the payee based on the payment.

3. The method of claim 2, further comprising transmitting from the retail location to the host computer system information indicating that the payment has been received relating to the transaction.

4. The method of claim 2, further comprising transmitting a message to the payee that the payment has been received relating to the transaction.

5. The method of claim 2, wherein the first payment amount is in a first currency and the second payment amount is in a second currency.

6. The method of claim 5, wherein the first and second currencies are the same.

7. The method of claim 2, wherein the first and second payment amounts vary by one or more fees.

8. The method of claim 2, wherein the second payment amount is at least partially embodied in a negotiable instrument.

9. A computer-readable medium having computer-executable instructions for performing the computer-implementable method of claim 2.

10. The method of claim 2, wherein the second payment amount is at least partially embodied in a wire transfer.

11. The method of claim 2, wherein making a second payment amount available to the payee comprises making the second payment amount available to the payee for pickup at any of a plurality of retail locations.

12. The method of claim 2, wherein making a second payment amount available to the payee comprises sending a money order to the payee.

13. The method of claim 2, wherein the payee identifier is an e-mail address associated with the payee.

14. A system for paying for an auction item by a payor to compensate a payee, the system comprising:

a host computer system that is programmed to;

receive payment information relating to a transaction comprising at least a payee identifier, a first payment amount, and an auction identifier, wherein the auction identifier relates to an auction that was won by the payor that was for the auction item;

generate a transaction identifier;

transmit the transaction identifier to the payor;

receive information from a retail location that a payment has been received relating to the transaction; and

make a second payment amount available to the payee based on the payment.

15. The system of claim 14, wherein the host computer system is further programmed to transmit a message to the payee that the payment has been received relating to the transaction.

16. The system of claim 14, wherein the first payment amount is in a first currency and the second payment amount is in a second currency.

17. The system of claim 16, wherein the first and second currencies are the same.

18. The system of claim 14, wherein the first and second payment amounts vary by one or more fees.

19. The system of claim 14, wherein the second payment amount is at least partially embodied in a negotiable instrument.

20. The system of claim 14, wherein the second payment amount is at least partially embodied in a wire transfer.

21. The system of claim 14, wherein the host computer system is further programmed to make the second payment amount available to the payee for pickup at any of a plurality of retail locations.

22. The system of claim 14, wherein the host computer system is further programmed to cause a money order representing the second payment amount to be sent to the payee.

23. The system of claim 14, wherein the payee identifier is an e-mail address associated with the payee.