APPARATUS TO PROVIDE LIQUID FUNDS IN THE ONLINE AUCTION AND MARKETPLACE ENVIRONMENT
First Claim
1. A system to transfer a loan amount to a seller who is listing an item on an e-commerce web site, the system comprising:
- a lending server to communicate with an e-commerce server hosting an e-commerce web site, the e-commerce web site serving web pages to visitors, allowing sellers to list items for sale and allowing buyers to bid on the items for sale;
a lending database in communication with the lending server to store credit profiles of users and respective credit information; and
a financial processing application in communication with the lending server to initiate transfer of funds using a computer communications network,wherein the lending server retrieves a credit profile for the seller from the lending database and determines, based on at least both the credit profile and on characteristics of the seller'"'"'s sales history on the e-commerce site or a similar e-commerce site, whether to issue a loan to the seller, and if so, then notifies the seller the loan is available and the terms of such loan, and if the seller accepts the loan then using the financial processor to transfer a loan amount to the seller.
9 Assignments
0 Petitions
Accused Products
Abstract
A method, apparatus, and computer readable storage to implement a lending system for use with electronic commerce web sites such as auction sites. A seller may receive a cash loan for items placed for sale but not yet purchased by a buyer. The seller can be required to pay back the loan after a predetermined amount of time or as soon as the item for sale is sold and payment is received from the buyer. The lender would charge interest or commission for the loan. In this manner, sellers can receive cash for items listed on auction sites before those items are actually sold, generating additional cash flow for the seller.
-
Citations
11 Claims
-
1. A system to transfer a loan amount to a seller who is listing an item on an e-commerce web site, the system comprising:
-
a lending server to communicate with an e-commerce server hosting an e-commerce web site, the e-commerce web site serving web pages to visitors, allowing sellers to list items for sale and allowing buyers to bid on the items for sale; a lending database in communication with the lending server to store credit profiles of users and respective credit information; and a financial processing application in communication with the lending server to initiate transfer of funds using a computer communications network, wherein the lending server retrieves a credit profile for the seller from the lending database and determines, based on at least both the credit profile and on characteristics of the seller'"'"'s sales history on the e-commerce site or a similar e-commerce site, whether to issue a loan to the seller, and if so, then notifies the seller the loan is available and the terms of such loan, and if the seller accepts the loan then using the financial processor to transfer a loan amount to the seller. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9)
-
-
10. A system to transfer a loan amount to a seller who is listing an item on an e-commerce web site, the system comprising:
-
a lending server, maintained by a lender, to communicate with an e-commerce server hosting an e-commerce web site, the e-commerce web site serving web pages to visitors, allowing buyers to list items for sale and allowing sellers to bid on the items for sale; and a financial processing application in communication with the lending server to transfer a loan to a borrowing seller against an item for sale on the e-commerce web site by the borrowing seller using a computer communications network; wherein an investing seller uses the e-commerce web site to transfer investment money to a lending account owned by the lender in return for repayment of the investment money with interest, wherein the lending account comprises funds used to fund the loan to the borrowing seller which is processed by the financial processing application. - View Dependent Claims (11)
-
Specification