System And Method For Financial Transactions In A Rideshare Environment

• US 20100280852A1
• Filed: 07/12/2010
• Published: 11/04/2010
• Est. Priority Date: 05/11/2007
• Status: Active Grant

• Current Assignee: Uber Technologies, Inc.
• Original Assignee: Palo Alto Research Center, Inc. (Xerox Holdings Corp.)
• Inventors: Fork, David K., Weinerth, Dave, Huang, Qingfeng, Plurkowski, Luke
• Granted Patent: US 7,930,098 B2
• Time in Patent Office: Days
• US Class Current: 705/4
• CPC Class Codes: B60R 2325/205 Mobile phones
• CPC Class Codes: B60R 25/00 Fittings or systems for preventing or indicating unauthorised use or theft of vehicles locks for vehicles E05B77/00-E05B85/00
• CPC Class Codes: B60R 25/33 of global position, e.g. by providing GPS coordinates
• CPC Class Codes: G01C 21/26 specially adapted for navigation in a road network
• CPC Class Codes: G01C 21/3438 Rendez-vous, i.e. searching a destination where several users can meet, and the routes to this destination for these users; Ride sharing, i.e. searching a route such that at least two users can share a vehicle for at least part of the route
• CPC Class Codes: G06Q 10/02 Reservations, e.g. for tickets, services or events
• CPC Class Codes: G06Q 30/0207 Discounts or incentives, e.g. coupons or rebates
• CPC Class Codes: G06Q 30/0283 Price estimation or determination
• CPC Class Codes: G06Q 30/08 Auctions
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/08 Insurance
• CPC Class Codes: G06Q 50/01 Social networking

Abstract

A system and method for financial transactions in a rideshare system is provided. An economic demand is determined for a rideshare transaction. An economic supply is also determined for the rideshare transaction. A rideshare transaction price is set based at least in part upon the economic supply and the economic demand determined for the rideshare transaction.

Claims

1. A method for financial transactions in a rideshare system, comprising:

determining an economic demand for a rideshare transaction;

determining an economic supply for the rideshare transaction; and

setting a rideshare transaction price based at least in part upon the economic supply and the economic demand determined for the rideshare transaction.

2. A method according to claim 1, further comprising:

determining a commission based at least in part upon the rideshare transaction price.

3. A method according to claim 1, further comprising:

conducting an auction to set the rideshare transaction price by determining the economic demand and the economic supply of the rideshare transaction.

4. A method according to claim 1, further comprising:

calculating the economic demand based on at least one of a number of potential passengers and a number of potential drivers associated with the rideshare transaction.

5. A method according to claim 1, further comprising:

calculating the economic supply based on at least one of a number of potential passengers and a number of potential drivers associated with the rideshare transaction.

6. A method according to claim 1, further comprising:

decreasing the rideshare transaction price when the economic demand is high and the economic supply is low.

7. A method according to claim 1, further comprising:

increasing the rideshare transaction price when the economic demand is low and the economic supply is high.

8. A method according to claim 1, further comprising:

implementing at least one of third party sponsorships and third party reward programs to compensate the rideshare transaction.

9. A method according to claim 1, further comprising:

offering insurance coverage from third parties to participants of the rideshare transaction.

10. A method according to claim 1, further comprising:

implementing at least one of a monthly fee and a transaction fee for the rideshare transaction.

11. A method according to claim 1, further comprising:

providing carbon credits to participants in the rideshare transaction.

12. A method according to claim 1, wherein the carbon credits can be exchanged for monetary value.

13. A method for financing a rideshare system, comprising obtaining a fee by providing insurance pertaining to a rideshare transaction to a rideshare participant.

14. A method according to claim 13, wherein a rideshare program acts as an insurer and sells insurance pertaining to the rideshare transaction to the rideshare participant.

15. A method according to claim 13, wherein a rideshare program acts as an agent of an insurer and sells insurance pertaining to the rideshare transaction to the rideshare participant.

16. A method according to claim 13, further comprising:

charging the fee on one of a rideshare transaction basis and a monthly rideshare transaction basis.

17. A method for financial transactions in a rideshare system, comprising:

maintaining a rideshare environment with multiple rideshare transactions each comprising one or more participants;

receiving bids from potential participants for a position in at least one of the rideshare transactions; and

assigning at least one potential participant to one of the rideshare transactions based on one of the bids.

18. A method according to claim 17, further comprising:

setting a price of the rideshare transaction based on the received bids.

19. A method according to claim 17, wherein each rideshare transaction is associated with a particular route of travel.

20. A method according to claim 17, wherein the participants comprise drivers and passengers.