Online transaction system

• US 20080071635A1
• Filed: 05/30/2007
• Published: 03/20/2008
• Est. Priority Date: 09/15/2006
• Status: Abandoned Application

• Current Assignee: Reapfield Technology Sdn. Bhd. (Kenn Tat Ong)
• Original Assignee: Reapfield Technology Sdn. Bhd. (Kenn Tat Ong)
• Inventors: Ong, Kenn Tat
• Application Number:
  US11/807,663
• Publication Number:
  US 20080071635A1
• Time in Patent Office: Days
• US Class Current: 705/26
• CPC Class Codes: G06Q 10/0637 Strategic management or analysis, e.g. setting a goal or target of an organisation; Planning actions based on goals; Analysis or evaluation of effectiveness of goals
• CPC Class Codes: G06Q 20/12 specially adapted for electronic shopping systems
• CPC Class Codes: G06Q 20/322 Aspects of commerce using mobile devices [M-devices]
• CPC Class Codes: G06Q 20/3674 involving authentication
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 30/0605 Supply or demand aggregation

Abstract

The present invention relates to an online transaction system (10). The system (10) enables a registered merchant to post his product or service and enables a registered purchaser to view and purchase the product and service. The system (10) includes a web server (12) and/or a database server (14) and a first remote computer (16) connecting the web server (12) and/or database server (14) to a security authentication server (18).

Claims

1. An online transaction system for enabling a merchant to post details relating to a product or service and for enabling a purchaser to view and purchase the product or service, the system comprising:

at least a web server and/or at least a database server;

a first remote computer connecting the web server and/or database server to a security authentication server; and

memory for specifying and storing a minimum quantity of said product or service which must be purchased to consummate a transaction, wherein said system authorizes a transaction when one or more purchasers agree to purchase at least said specified quantity of products or services.

2. The system of claim 1, wherein the details relating to said product or service are created and updated by the merchant in real-time via a second remote computer.

3. The system of claim 1, wherein the purchaser purchases a particular product or service in real-time using a third remote computer.

4. The system of claim 1, wherein details relating to the transaction and status of the merchant or purchaser are updated in real-time using the first remote computer.

5. The system of claim 1, wherein the quantity of the product or service acquired by a purchaser is updated in real-time using the first remote computer.

6. The system of claim 1, wherein the security authentication server comprises a 128-bit encryption Security Socket Layer protocol and firewall encryptions.

7. The system of claim 1, wherein the system is accessed via one or more of the following network connections:

broadband, 3G, GPRS and WiMax.

8. A method for conducting online transactions comprising the steps of:

posting details about one or more products or services on a server;

providing users with access to said details;

specifying a minimum quantity of said products or services which must be purchased in order to consummate a transaction; and

consummating said transaction when one or more users agree to purchase at least said minimum quantity of said products or services.

9. The method of claim 8, further comprising the step of offering said minimum quantity of products or services at a discounted price.

10. The method of claim 8, further comprising the step of updating said minimum quantity of products or services in real-time.

11. The method of claim 8, further comprising the step of providing a forum on which users can communicate regarding said products or services.

12. The method of claim 8, further comprising the step of ranking sellers and/or buyers of said products or services.

13. The method of claim 12, further comprising the step of setting a minimum number of credits that a buyer of products or services must have in order to accumulate a higher ranking.

14. The method of claim 8, wherein said details comprise one or more of the following relating to said products or services:

market price;

bulk purchase price;

number of purchasers required for a bulk purchase transaction;

quantity of the products or services required for the bulk purchase transaction;

location of an actual monetary transaction;

location where the actual products or services will be delivered; and

an opening and closing date of the bulk purchase.

15. An online transaction system comprising:

a server for storing a minimum quantity of products or services which must be purchased by a user to consummate a transaction;

a webpage for displaying said products or services, wherein the user can purchase said products or services on the web page; and

a processor for processing a transaction, wherein said transaction is consummated only if at least one user agrees to purchase said minimum quantity of said products or services.

16. The system of claim 15, further comprising a security authentication server.

17. The system of claim 15, wherein said server is a web server.

18. The system of claim 15, further comprising a message board on which users can exchange information about products, services, buyers and sellers.

19. The system of claim 15, wherein said processor ranks buyers and/or sellers based on past transactions.

20. The system of claim 15, wherein said server stores one or more of the following types of information relating to said products or services:

market price;

bulk purchase price;

number of purchasers required for a bulk purchase transaction;

quantity of the products or services required for the bulk purchase transaction;

location of an actual monetary transaction;

location where the actual products or services will be delivered; and

an opening and closing date of the bulk purchase.