METHOD AND APPARATUS TO EVALUATE AND PROVIDE FUNDS IN ONLINE ENVIRONMENTS

• US 20140006202A1
• Filed: 01/24/2013
• Published: 01/02/2014
• Est. Priority Date: 07/02/2012
• Status: Active Grant

• Current Assignee: American Express Kabbage Incorporated (American Express Company)
• Original Assignee: Kabbage Inc. (American Express Company)
• Inventors: Frohwein, Robert, Petralia, Kathryn, Gorlin, Joseph
• Granted Patent: US 10,255,632 B2
• Time in Patent Office: Days
• US Class Current: 705/26.3
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof

Abstract

A method, apparatus, and computer readable storage to implement a lending or cash advance system that can be (but is not required to be) integrated with an online commerce site. Sellers on the online commerce site can click a button or tab in their web browser that is visiting the online commerce site and information known to the online commerce site is automatically shared with a potential cash provider. Data from a delivery service can be automatically retrieved by the cash provider/cash server in order to determine the volume of shipments that the seller has been making. This volume can be used when the cash server determines the seller'"'"'s score in order to evaluate an application for cash.

Claims

1. A method of providing funds to a seller who lists an item for sale on an e-commerce web site hosted by a web server, the e-commerce web site comprising web pages that allows sellers to list goods for sale and allows buyers to bid on or purchase the goods for sale, the method comprising:

executing instructions on an electronic processor or processors to perform the following operations;

receiving, on a computer communications network, a request for cash from the seller;

receiving transaction data from the e-commerce web site;

receiving delivery data from a delivery service used by the seller;

evaluating the transaction data and the delivery data; and

making a determination of the seller based on the evaluating.

7. The method as recited in claim 1, further comprising identifying suspicious transactions which are in the transaction data but do not have a corresponding delivery in the delivery data.

8. The method as recited in claim 1, wherein the evaluating takes into consideration the suspicious transactions and reduces the seller'"'"'s score.

9. The method as recited in claim 1, wherein the delivery data comprises weight of at least one shipment from the seller.

10. The method as recited in claim 1, wherein the delivery data comprises a frequency of shipments from the seller.

2. The method as recited in claim 2, wherein the determination is whether to approve the seller for a cash transfer.

3. The method as recited in claim 2, wherein the cash transfer is an advance.

4. The method as recited in claim 2, wherein the cash transfer is a loan.

5. The method as recited in claim 2, wherein the cash transfer is a factoring agreement.

6. The method as recited in claim 2, wherein the determination is how much cash to extend to the seller.

11. An apparatus to provide funds to a seller who lists an item for sale on an e-commerce web site hosted by a web server, the e-commerce web site comprising web pages that allows sellers to list goods for sale and allows buyers to bid on or purchase the goods for sale, the apparatus comprising:

a processing unit executing computer readable instructions, the processing unit configured to;

receive, on a computer communications network, a request for cash from the seller;

receive transaction data from the e-commerce web site;

receive delivery data from a delivery service used by the seller;

evaluate the transaction data and the delivery data; and

make a determination of the seller based on the evaluating.

12. The apparatus as recited in claim 11, wherein the processing unit is further configured such that the determination is whether to approve the seller for a cash transfer.

13. The apparatus as recited in claim 12, wherein the processing unit is further configured such that the cash transfer is an advance.

14. The apparatus as recited in claim 12, wherein the processing unit is further configured such that the cash transfer is a loan.

15. The apparatus as recited in claim 12, wherein the processing unit is further configured such that the cash transfer is a factoring agreement.

16. The apparatus as recited in claim 12, wherein the processing unit is further configured such that the determination is how much cash to extend to the seller.

17. The apparatus as recited in claim 11, further the processing unit is further configured to identify suspicious transactions which are in the transaction data but do not have a corresponding delivery in the delivery data.

18. The apparatus as recited in claim 17, wherein the processing unit is further configured such that the evaluate takes into consideration the suspicious transactions and reduces the seller'"'"'s score.

19. The apparatus as recited in claim 11, wherein the processing unit is further configured such that the delivery data comprises weight of at least one shipment from the seller.

20. The apparatus as recited in claim 11, wherein the processing unit is further configured such that the delivery data comprises a frequency of shipments from the seller.