PURCHASING, REDEMPTION, AND SETTLEMENT SYSTEMS AND METHODS WHEREIN A BUYER TAKES POSSESSION AT A RETAILER OF A PRODUCT PURCHASED USING A COMMUNICATION NETWORK

• US 20080052189A1
• Filed: 10/31/2007
• Published: 02/28/2008
• Est. Priority Date: 09/04/1996
• Status: Active Grant

• Current Assignee: Groupon Incorporated
• Original Assignee: Andrew Van Luchne, Daniel Tedesco, Jay S. Walker, Magdalena Fincham
• Inventors: Tedesco, Daniel, Van Luchne, Andrew, Walker, Jay, Fincham, Magdalena
• Granted Patent: US 7,860,753 B2
• Time in Patent Office: Days
• US Class Current: 705/26
• CPC Class Codes: G06Q 10/087 Inventory or stock management, e.g. order filling, procurement or balancing against orders
• CPC Class Codes: G06Q 20/00 Payment architectures, schemes or protocols apparatus for performing or posting payment transactions G07F7/08, G07F19/00; electronic cash registers G07G1/12
• CPC Class Codes: G06Q 20/02 involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/12 specially adapted for electronic shopping systems
• CPC Class Codes: G06Q 20/24 Credit schemes, i.e. "pay after"
• CPC Class Codes: G06Q 20/403 Solvency checks
• CPC Class Codes: G06Q 30/00 Commerce
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/04 Billing or invoicing
• 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 30/0611 Request for offers or quotes
• CPC Class Codes: G06Q 30/0633 Lists, e.g. purchase orders, compilation or processing
• CPC Class Codes: G06Q 50/12 Hotels or restaurants
• CPC Class Codes: G07F 7/00 Mechanisms actuated by objects other than coins to free or to actuate vending, hiring, coin or paper currency dispensing or refunding apparatus
• CPC Class Codes: G07F 9/026 for alarm, monitoring and auditing in vending machines or means for indication, e.g. when empty
• CPC Class Codes: G07G 1/14 Systems including one or more distant stations co-operating with a central processing unit data transmission in general H04L; telemetry systems for selectively calling a substation from a main station H04Q9/00

Abstract

Purchasing, redemption and settlement systems and methods are provided wherein a buyer takes possession of a product at a retailer. A purchasing system may communicate with a buyer through a communication network to establish a first price for a product between the buyer and a seller. The purchasing system may also arrange for the buyer to take possession of the product at a retailer, different from the seller, that offers the product for sale at a second price. Verification information, which enables the retailer to authorize the buyer to take possession of the product, is transmitted to the retailer. The buyer provides a payment, based on the first price, to the purchasing system in exchange for the right to take possession of the product at the retailer. In one embodiment, the purchasing system receives a buyer offer, including an offer price, related to the product. In another embodiment, the purchasing system transmits redemption information, including a redemption code, to the buyer. The redemption information may also include information that enables the creation of a voucher to be used when taking possession of the product. The purchasing system may also receive information related to an attempt by the buyer to take possession of the product, including the redemption code, from the retailer.

Claims

1. A method of operating a purchasing system, comprising:

arranging through a communication network for a buyer to purchase a product from a seller, wherein the buyer agrees to pay a first price for the product;

sending redemption information to the buyer, the redemption information enabling the buyer to take possession of the product at a retailer, different from the seller, that offers the product for sale at a second price; and

providing to the retailer a third price for the product once the buyer takes possession of the product at the retailer, wherein the third price is a price for the product agreed upon between the retailer and the seller and is not based on the first price that the buyer agreed to pay for the product.

2. The method of claim 1, in which arranging for the buyer to purchase the product comprises:

receiving a buyer offer, including a buyer-defined first price and information about the product, from the buyer; and

determining if the buyer offer will be accepted.

3. The method of claim 2, in which determining comprises at least one of sending information about the buyer offer to at least one seller, or locally determining if the buyer offer will be accepted.

4. The method of claim 1, in which arranging for the buyer to purchase the product comprises receiving payment from the buyer of an amount based on the first price.

5. The method of claim 4, wherein the payment is received at a time based on at least one of when the purchasing system arranges for the buyer to purchase the product, or when the buyer takes possession of the product at the retailer.

6. The method of claim 1, in which arranging for the buyer to purchase the product comprises receiving a payment identifier from the buyer.

7. The method of claim 6, in which arranging for the buyer to purchase the product comprises at least one of charging an amount based on the first price using the payment identifier, or reserving an amount based on the first price using the payment identifier.

8. The method of claim 1, wherein the redemption information comprises penalty information.

9. The method of claim 8, wherein the penalty information comprises information related to at least one of a flat fee to be paid by the buyer for failing to meet a condition, a percentage fee to be paid by the buyer for failing to meet a condition, a cost associated with delivering the product to be paid by the buyer for failing to meet a condition, or voiding a right of the buyer to take possession of the product.

10. The method of claim 1, further comprising sending to a second retailer supplemental verification information enabling the second retailer to authorize the buyer to take possession of a supplemental product.

11. The method of claim 10, wherein the supplemental verification information is only sent when the buyer has taken possession of the product at the retailer.

12. The method of claim 1, further comprising:

receiving from the retailer information related to an attempt to take possession of the product; and

sending to the retailer a verification authorizing the buyer to take possession of the product.

13. The method of claim 1, further comprising arranging for the buyer to take possession of the product at the retailer, and adjusting a spending limit associated with the buyer.

14. The method of claim 13, in which adjusting the spending limit comprises establishing a minimum spending amount and a maximum spending amount.

15. The method of claim 13, wherein the adjusting is based on at least one of the first price, the second price, a settlement price to be provided to the retailer in exchange for providing the product to the buyer, a penalty amount, or a tax amount.

16. The method of claim 1, in which arranging for the buyer to purchase the product comprises receiving payment from the buyer of an amount based on the first price adjusted with a subsequent amount.

17. The method of claim 16, wherein the subsequent amount comprises a penalty amount.

18. The method of claim 17, wherein the penalty amount is imposed when the buyer has not taken possession of the product from the retailer within a predetermined period of time.

19. The method of claim 17, wherein the penalty amount is associated with a cost to ship the product to the buyer.

20. A computer readable medium storing instructions configured to direct a processor to:

arrange through a communication network for a buyer to purchase a product from a seller, wherein the buyer agrees to pay a first price for the product;

transmit redemption information to the buyer, the redemption information enabling the buyer to take possession of the product at a retailer, different from the seller, that offers the product for sale at a second price; and

provide to the retailer a third price for the product once the buyer takes possession of the product at the retailer, wherein the third price is a price for the product agreed upon between the retailer and the seller and is not based on the first price that the buyer agreed to pay for the product.

21. The computer readable medium of claim 20, in which the instructions for arranging for the buyer to purchase the product comprise instructions configured to direct the processor to:

receive a buyer offer, including a buyer-defined first price and information about the product, from the buyer; and

determine if the buyer offer will be accepted.

22. The computer readable medium of claim 21, in which determining comprises instructions configured to direct the processor to at least one of transmit information about the buyer offer to at least one seller, or locally determine if the buyer offer will be accepted.

23. The computer readable medium of claim 20, in which arranging for the buyer to purchase the product comprises instructions configured to direct the processor to receive an indication of payment by the buyer of an amount based on the first price.

24. The computer readable medium of claim 23, in which the instructions for receiving the indication of payment comprise instructions configured to direct the processor to receive the indication of payment at a time based on at least one of when the purchasing system arranges for the buyer to purchase the product, or when the buyer takes possession of the product at the retailer.

25. The computer readable medium of claim 20, in which arranging for the buyer to purchase the product comprises instructions configured to direct the processor to receive a payment identifier from the buyer.

26. The computer readable medium of claim 25, in which arranging for the buyer to purchase the product comprises instructions configured to direct the processor to at least one of charge an amount based on the first price using the payment identifier, or reserve an amount based on the first price using the payment identifier.

27. The computer readable medium of claim 20, in which the instructions for receiving redemption information further comprises instructions configured to direct the processor to receive penalty information.

28. The computer readable medium of claim 27, in which the instructions for receiving penalty information comprises instructions configured to direct the processor to receive information related to at least one of a flat fee to be paid by the buyer for failing to meet a condition, a percentage fee to be paid by the buyer for failing to meet a condition, a cost associated with delivering the product to be paid by the buyer for failing to meet a condition, or voiding a right of the buyer to take possession of the product.

29. The computer readable medium of claim 23, further comprising instructions configured to direct the processor to transmit supplemental verification information to a second retailer to enable the second retailer to authorize the buyer to take possession of a supplemental product.

30. The computer readable medium of claim 29, in which the instructions for transmitting supplemental verification information to the second retailer comprise instructions configured to direct the processor to transmit the supplemental verification information only when the buyer has taken possession of the product at the retailer.

31. The computer readable medium of claim 20, further comprising instructions for configured to direct the processor to:

receive from the retailer information related to an attempt to take possession of the product; and

transmit to the retailer a verification authorizing the buyer to take possession of the product.

32. The computer readable medium of claim 20, further comprising instructions for configured to direct the processor to:

arrange for the buyer to take possession of the product at the retailer; and

adjusting a spending limit associated with the buyer.

33. The computer readable medium of claim 32, in which the instructions for adjusting the spending comprise instructions configured to direct the processor to establish a minimum spending amount and a maximum spending amount.

34. The computer readable medium of claim 32, in which the instructions for adjusting the spending comprise instructions configured to direct the processor to base adjusting on at least one of the first price, the second price, a settlement price to be provided to the retailer in exchange for providing the product to the buyer, a penalty amount, or a tax amount.

35. The computer readable medium of claim 20, in which the instructions for arranging for the buyer to purchase the product comprise instructions configured to direct the processor to receive an indication of payment by the buyer of an amount based on the first price adjusted with a subsequent amount.

36. The computer readable medium of claim 35, in which the instructions for arranging for the buyer to purchase the product further comprise instructions configured to direct the processor to receive an indication of a penalty amount.

37. The computer readable medium of claim 32, further comprising instructions for configured to direct the processor to impose a penalty amount if the buyer has not taken possession of the product from the retailer within a predetermined period of time.

38. The computer readable medium of claim 37, in which the instructions for imposing the penalty amount comprise instructions configured to direct the processor to associate the penalty amount with a cost to ship the product to the buyer.

39. A purchasing system device, comprising:

a processor; and

a storage device operatively coupled to the processor and storing instructions adapted to be executed by the processor to;

arrange through a communication network for a buyer to purchase a product from a seller, wherein the buyer agrees to pay a first price for the product,

transmit redemption information to the buyer, the redemption information enabling the buyer to take possession of the product at a retailer that offers the product for sale at a second price; and

provide to the retailer a third price for the product once the buyer takes possession of the product at the retailer, wherein the third price is a price for the product agreed upon between the retailer and the seller and is not based on the first price that the buyer agreed to pay for the product.