System and method for submitting an offer to purchase over a network-based commerce facility

• US 7,222,092 B2
• Filed: 05/22/2003
• Issued: 05/22/2007
• Est. Priority Date: 01/07/2003
• Status: Active Grant

• Current Assignee: PayPal, Inc. (PayPal Holdings, Inc.)
• Original Assignee: eBay Inc.
• Inventors: Grove, Steve, Dulsky, Kevin, Edson, Zak
• Primary Examiner(s): Garg; Yogesh C.
• Application Number:
  US10/444,916
• Publication Number:
  US 20040133479A1
• Time in Patent Office: 1,461 Days
• Field of Search: 705/4, 705/22, 705/26, 705/27, 705/37, 705/38, 705/1, 705/36.R, 715/717, 715/733
• US Class Current: 705/26.3
• CPC Class Codes: G06Q 20/203 Inventory monitoring
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 30/0643 Graphical representation of items or shoppers
• 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 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis
• CPC Class Codes: G06Q 40/08 Insurance

Abstract

A system and method to facilitate a transaction in a network-based commerce facility is provided. The method includes presenting a plurality of listings to a user, and monitoring selection of one of the plurality of listings by the user. Thereafter, the user is provided with an indication of an equivalent periodic payment of a plurality of periodic payments associated with an offer to purchase. In one embodiment, the user is provided with an option to conclude the transaction for the selected listing based on a plurality of periodic payments. In certain embodiments, the network-based commerce facility is a web-based auction facility where the offers are in the form of bids. Accordingly, in this embodiment, the periodic payment may be a monthly payment and the products are movable goods such as motor vehicle, motorcycles, watercraft, or the like.

Claims

1. A computer implemented method to facilitate a transaction in a network-based auction facility, the method including:

presenting via a client computer a plurality of listings to a user;

monitoring selection of one of the plurality of listings by the user to identify a selected listing;

retrieving listing details of the selected listing from a database;

providing a graphical user interface to the user showing both the listing details of the selected listing and an indication of an equivalent periodic payment of a plurality of periodic payments associated with an offer to purchase;

wherein the periodic payment is based on financing data and informs the user of the cost of the selected listing based on periodic payments;

presenting the user with a bid option on said graphical user interface, the bid option being an option to bid based on periodic payments; and

receiving at the network-based auction facility a bid from the user based on the option to bid based on periodic payments.

2. The method of claim 1, in which the user interface provides the user with an option to conclude the transaction for the selected listing based on the plurality of periodic payments.

3. The method of claim 1, wherein the network-based commerce facility is a web-based auction facility.

4. The method of claim 3, wherein the periodic payment is a monthly payment and the products are movable goods.

5. The method of claim 4, wherein the monthly payment is one of a lease payment and an installment sale payment.

6. The method of claim 3, which includes:

presenting the user with at least two bid options via the user interface, a first bid option being the bid option based on the periodic payment and the second bid option being an option to bid based on a single payment; and

monitoring, via the user interface, selection of one of the first or the second bid options by the user.

7. The method of claim 6, wherein acceptance of a bid using the first bid option is dependent upon personal information of the user.

8. The method of claim 1, wherein the listings optionally have associated insurance costs, the monthly payment including the associated insurance costs.

9. The method of claim 1, which includes:

presenting the user with an option to obtain financing to finance the transaction associated with a listing;

presenting the user with an interface to obtain personal information of the user;

communicating a request for financing to a financing facility; and

selectively allowing the user to conclude the transaction based on the periodic payment.

10. The method of claim 9, wherein the network-based commerce facility is a web-based auction facility, the method including:

receiving financing data from the financing facility;

identifying from the financing data a maximum bid based on the periodic payment to effect the transaction, the maximum bid being uniquely associated with the user; and

allowing the user to bid on the listed item up to the maximum bid.

11. The method of claim 1, which includes presenting the user with a calculator interface to estimate the periodic payment.

12. A machine-readable medium embodying a set of instructions to facilitate a transaction in a network-based auction facility, the instructions when executed causing the machine to:

present via a client computer a plurality of listings to a user;

monitor selection of one of the plurality of listings by the user to identify a selected listing;

retrieve listing details of the selected listing from database;

provide a graphical user interface to the user showing both the listing details of the selected listing and an indication of an equivalent periodic payment of a plurality of periodic payments associated with an offer to purchase;

wherein the periodic payment is based on financing data and informs the user of the cost of the selected listing based on periodic payments; and

present the user with a bid option on said graphical user interface, the bid option being an option to bid based on periodic payments; and

receive at the network-based auction facility a bid from the user based on the option to bid based on periodic payments.

13. The machine-readable medium of claim 12, wherein the user interface provides the user with an option to conclude the transaction for the selected listing based on the plurality of periodic payments.

14. The machine-readable medium of claim 12, wherein the network-based commerce facility is a web-based auction facility.

15. The machine-readable medium of claim 14, wherein the periodic payment is a monthly payment and the products are movable goods.

16. The machine-readable medium of claim 15, wherein the monthly payment is one of a lease payment and an installment sale payment.

17. The machine-readable medium of claim 16, wherein the instructions cause the machine to:

present the user with at least two bid options via the user interface, a first bid option being the bid option based on a the periodic payment and the second bid option being an option to bid based on a single payment; and

monitor selection, via the user interface, of one of the first or second bid options by user.

18. The machine-readable medium of claim 17, wherein acceptance of a bid using the first bid option is dependent upon personal information of the user.

19. The machine-readable medium of claim 12, wherein the listings have associated insurance costs, the monthly payment including the associated insurance costs.

20. The machine-readable medium of claim 12, wherein the instructions cause the machine to:

present the user with an option to obtain financing to finance the transaction associated with a listing;

present the user with an interface to obtain personal information of the user;

communicate a request for financing to a financing facility; and

selectively allow the user to conclude the transaction based on the periodic payment.

21. The machine-readable medium of claim 20, wherein the network-based commerce facility is a web-based auction facility, the instructions causing the machine to:

receive financing data from the financing facility;

identify from the financing data a maximum bid based on the periodic payment to effect the transaction, the maximum bid being uniquely associated with the user; and

allow the user to bid on the listed item up to the maximum bid.

22. The machine-readable medium of claim 12, wherein the user is presented with a calculator interface to estimate the periodic payment.

23. A system to facilitate a transaction in a network-based auction facility, the system including:

an executable database stored in a computer readable medium including a plurality of listings; and

at least one server configured to;

selectively present via a client computer the plurality of listings to a user

monitor selection of one of the plurality of listings by the user to identify a selected listing;

provide a graphical user interface to the user showing both the listing details of the selected listing and an indication of an equivalent periodic payment of a plurality of periodic payments associated with an offer to purchase;

wherein the periodic payment is based on financing data and informs the user of the cost of the selected listing based on periodic payments;

present the user with a bid option on said graphical user interface, the bid option being an option to bid based on periodic payments; and

receive at the network-based auction facility a bid from the user based on the option to bid based on periodic payments.

24. The system of claim 23, wherein the user is provided with an option to conclude the transaction for the selected listing based on the plurality of periodic payments.

25. The system of claim 23, wherein the network-based commerce facility is a web-based auction facility.

26. The system of claim 25, wherein the periodic payment is a monthly payment and the products are movable goods.

27. The system of claim 26, wherein the monthly payment is one of a lease payment and an installment sale payment.

28. The system of claim 27, wherein the at least one server:

presents the user with at least two bid options via the user interface, a first bid option being the bid option based on the periodic payment and the second bid option being an option to bid based on a single payment; and

monitors selection, via the user interface, of one of the first or the second bid options by the user.

29. The system of claim 28, wherein acceptance of a bid using the first bid option is dependent upon personal information of the user.

30. The system of claim 23, wherein the listings have associated insurance costs, the monthly payment including the associated insurance costs.

31. The system of claim 23, wherein the at least one server:

presents the user with an option to obtain financing to finance the transaction associated with a listing;

presents the user with an interface to obtain personal information of the user;

communicates a request for financing to a financing facility; and

selectively allows the user to conclude the transaction based on the periodic payment.

32. The system of claim 31, wherein the network-based commerce facility is a web-based auction facility, and the at least one server:

receives financing data from the financing facility;

identifies from the financing data a maximum bid based on a periodic payment to conclude the transaction, the maximum bid being uniquely associated with the user; and

selectively allows the user to bid on the listed item up to the maximum bid.

33. A system to facilitate a transaction in a network-based auction facility, the system including:

means for storing a plurality of listings;

means for selectively presenting via a client computer the plurality of listings to a user;

means for monitoring selection of one of the plurality of listings by the user to identify a selected listing;

means for providing a graphical user interface to the user showing both the listing details of the selected listing and an indication of an equivalent periodic payment of a plurality of periodic payments associated with an offer to purchase;

wherein the periodic payment is based on financing data and informs the user of the cost of the selected listing based on periodic payments;

means for presenting the user with a bid option on said graphical user interface, the bid option being an option to bid based on periodic payments; and

means for receiving at the network-based auction facility a bid from the user based on the option to bid based on periodic payments.