SYSTEM AND METHOD FOR A RETAIL AND INVESTMENT APPLICATION
First Claim
1. An online retail and investment system comprising:
- a computing system;
a bank application configured to run in said computing system and to be accessed via a network;
a retail market application configured to run in said computing system and to be accessed via said network;
an open market currency (OMC), wherein said OMC is issued by the bank application and is used for making payments for purchase transactions within the retail market application;
wherein customers access the bank application over a network connection and open bank accounts and subsequently the customers purchase funds in the open market currency and deposit the OMC funds in their corresponding bank accounts; and
wherein merchants access the retail market application via a network connection and open merchant accounts and subsequently offer their goods and services for sale to customers through the retail market application; and
wherein said customers purchase goods and services offered by the merchants through the retail market application and pay for the purchased goods and services with OMC funds from their corresponding bank accounts.
2 Assignments
0 Petitions
Accused Products
Abstract
A system for an Internet-based retail and investment platform includes a bank application and a retail market platform. All transactions between the bank application and the retail market platform utilize a system specific currency, which is issued by the bank. Customers open bank accounts with funds in the system specific currency and make payments for the purchase of goods and services offered through the retail market platform with the system specific currency. Goods and services are offered at a discounted price by the merchants that subscribe to the retail merchant. The discount is based on the difference between retail price and wholesale price. In return for the discount, the merchants receive access to value-added services. The discounts generate profits that are distributed to the system users as dividends.
7 Citations
29 Claims
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1. An online retail and investment system comprising:
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a computing system; a bank application configured to run in said computing system and to be accessed via a network; a retail market application configured to run in said computing system and to be accessed via said network; an open market currency (OMC), wherein said OMC is issued by the bank application and is used for making payments for purchase transactions within the retail market application; wherein customers access the bank application over a network connection and open bank accounts and subsequently the customers purchase funds in the open market currency and deposit the OMC funds in their corresponding bank accounts; and wherein merchants access the retail market application via a network connection and open merchant accounts and subsequently offer their goods and services for sale to customers through the retail market application; and wherein said customers purchase goods and services offered by the merchants through the retail market application and pay for the purchased goods and services with OMC funds from their corresponding bank accounts. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15)
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16. A method for providing online retail and investment comprising:
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providing a computing system; providing a bank application configured to run in said computing system and to be accessed via a network; providing a retail market application configured to run in said computing system and to be accessed via said network; providing an open market currency (OMC), wherein said OMC is issued by the bank application and is used for making payments for purchase transactions within the retail market application; wherein customers access the bank application over a network connection and open bank accounts and subsequently the customers purchase funds in the open market currency and deposit the OMC funds in their corresponding bank accounts; and wherein merchants access the retail market application via a network connection and open merchant accounts and subsequently offer their goods and services for sale to customers through the retail market application; and wherein said customers purchase goods and services offered by the merchants through the retail market application and pay for the purchased goods and services with OMC funds from their corresponding bank accounts. - View Dependent Claims (17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29)
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Specification