SYSTEMS AND METHODS FOR FACILITATING FINANCIAL TRANSACTIONS OVER A NETWORK

• US 20090171810A1
• Filed: 12/28/2007
• Published: 07/02/2009
• Est. Priority Date: 12/28/2007
• Status: Active Grant

• Current Assignee: PayPal, Inc. (PayPal Holdings, Inc.)
• Original Assignee: eBay Inc.
• Inventors: Mengerink, Matthew, Mardikar, Upendra, Gausebeck, David
• Granted Patent: US 8,224,702 B2
• Time in Patent Office: Days
• US Class Current: 705/27
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 20/12 specially adapted for electronic shopping systems
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 30/04 Billing or invoicing
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 30/0603 Catalogue ordering
• CPC Class Codes: G06Q 30/0613 Third-party assisted
• CPC Class Codes: G06Q 30/0633 Lists, e.g. purchase orders, compilation or processing
• CPC Class Codes: G06Q 30/0635 Processing of requisition or of purchase orders
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes

Abstract

Systems and methods for facilitating financial transactions over a network include a merchant device, a client device and a payment processing device. The merchant device is adapted to allow a merchant to provide items for purchase via the network. The client device is adapted to allow a user to access the merchant device via the network and view the items for purchase. The client device is adapted to provide a payment mechanism to the user. The user generates a purchase request for an item by selecting the one item, dragging the item to the payment mechanism, and dropping the item over the payment mechanism. The payment processing device is adapted to receive the purchase request from the client device via the network and authorize the user to purchase the item from the merchant based on information passed with the purchase request.

Claims

1. A system for facilitating financial transactions over a network, the system comprising:

a first component adapted to communicate with a user via a client device over the network and a merchant via a merchant device over a network; and

a second component adapted to receive a purchase request from the user via the client device over the network and authorize the user to purchase at least one item from the merchant based on information passed with the purchase request,

wherein the second component provides a service application to the user as a payment mechanism, and

wherein the service application allows the user to generate the purchase request for the at least one item by selecting the at least one item from the merchant device, dragging the at least one item to the payment mechanism, and dropping the at least one item over the payment mechanism.

2. The system of claim 1, wherein the merchant device is adapted to allow the merchant to provide one or more items for purchase via the network.

3. The system of claim 1, wherein the client device includes a browser application adapted to allow a user to access the merchant device via the network and view the one or more items for purchase.

4. The system of claim 1, wherein the payment mechanism comprises at least one of a desktop icon, a toolbar icon and a browser icon displayed on a display component of the client device.

5. The system of claim 1, wherein the second component comprises a storage component adapted to store a plurality of accounts including a user account related to the user and a merchant account related to the merchant, wherein the user account includes user information related to the user and the merchant account includes merchant information related to the merchant, and wherein the user information and merchant information are passed with the purchase request.

6. The system of claim 5, wherein the second component verifies the user information including accessing the user account based on the user information passed with purchase request to verify the availability of monetary funds in the user account for the at least one item selected for purchase.

7. The system of claim 6, wherein the second component processes the purchase request by deducting monetary funds from the user account.

8. The system of claim 5, wherein the second component verifies the merchant information including accessing the merchant account based on the merchant information passed with the purchase request and availability of the at least one item selected for purchase.

9. The system of claim 8, wherein the second component processes the purchase request by crediting the monetary funds to the merchant account.

10. The system of claim 1, wherein information passed with the purchase request includes information related to the at least one item selected for purchase.

11. The system of claim 1, wherein the merchant device comprises a server adapted to communicate with the client device and the second component via the network.

12. The system of claim 1, wherein the second component comprises a server adapted to communicate with the client device and the merchant device via the network.

13. The system of claim 1, wherein the second component provides the service application to the client device.

14. The system of claim 1, wherein the client device comprises a computer adapted to communicate with the merchant device and the second component via the network.

15. The system of claim 1, wherein the items for purchase include at least one of goods, products and services.

16. A system for facilitating financial transactions over a network, the system comprising:

a first component adapted to communicate with a user via a client device over the network and a merchant via a merchant device over a network, the merchant device adapted to provide one or more items for purchase via the network and generate a bill image summarizing item selections; and

a second component adapted to receive the purchase request from the client device via the network and authorize the user to purchase the at least one item from the merchant based on information passed with the purchase request,

wherein the second component provides a service application to the user as a payment mechanism, and

wherein the service application allows the user to generate the purchase request for the at least one item by selecting the at least one item, instructing the merchant device to generate the bill image summarizing purchase of the at least one item selected for purchase, dragging the bill image to the payment mechanism, and dropping the bill image over the payment mechanism.

17. The system of claim 16, wherein the client device includes a browser application adapted to allow a user to access the merchant device via the network and view the one or more items for purchase.

18. The system of claim 16, wherein the bill image comprises embedded information related to the purchase including at least one of item selection information, item availability information, purchase information, and merchant identification information.

19. The system for claims 16, wherein the bill image comprises an invoice image displayed by the browser application on the client device.

20. The system for claims 16, wherein the at least one item selected for purchase are listed by the merchant device in a virtual shopping cart, and wherein the bill image is generated based on information related to the virtual shopping cart.

21. A method for facilitating financial transactions over a network, the method comprising:

receiving a purchase request for a selected item from a user via the network, the purchase request includes user information, merchant information, and selected item information embedded as arguments in an expression;

verifying the user information including accessing a user account based on the user information to verify the availability of monetary funds for the selected item;

verifying the merchant information including accessing a merchant account based on the merchant information and availability of the selected item related to the selected item information;

processing the purchase request by authorizing the user to purchase the selected item from the merchant based on the verified user and merchant information; and

completing the purchase request by deducting monetary funds from the user account and crediting the deducted monetary funds to the merchant account.

22. The method of claim 21, further comprising providing a service application to the user, wherein the service application provides a purchase mechanism to the user via a client device operated by the user.

23. The method of claim 22, wherein the service application comprises a computer program executable by a processor on the client device.

24. The method of claim 22, wherein the purchase mechanism comprises an image.

25. The method of claim 21, further comprising maintaining a plurality of accounts including the user account and the merchant account, wherein the user account includes financial information related to the user and the merchant account includes financial information related to the merchant.