Trading and auction system, and methods for the authentication of buyers and sellers and for the transmission of trading instructions in a trading and auction system

• US 7,505,935 B2
• Filed: 06/12/2001
• Issued: 03/17/2009
• Est. Priority Date: 06/21/2000
• Status: Active Grant

• Current Assignee: Chikka Com Pte Limited
• Original Assignee: Chikka Pte Limited
• Inventors: Mendiola, Dennis, Garcia, Gilpatrick R.
• Primary Examiner(s): Dass, Harish T
• Application Number:
  US09/878,338
• Publication Number:
  US 20020032641A1
• Time in Patent Office: 2,835 Days
• Field of Search: 705/14, 705/26, 705/37, 705/39, 709/318, 709/206, 455/466, 379/93.24, 713/201, 713/182, 370/352
• US Class Current: 705/37
• CPC Class Codes: G06Q 30/0267 Wireless devices
• CPC Class Codes: G06Q 30/0609 Buyer or seller confidence or verification
• CPC Class Codes: G06Q 30/08 Auctions
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

A trading and auction system (10), and a method for the authentication of buyers and sellers and for the transmission of trading instructions in a trading and auction system (10) is disclosed. To register with the trading and auction system (10), a user must provide a unique identifier of a messaging-capable wireless device (22) belonging to the user. After assigning a password to the user, the trading and auction system (10) communicates the password to the user and receives a confirmation of said password from said user, with at least one of the steps of communicating the password and receiving a confirmation of the password being performed using the wireless device'"'"'s messaging capability (22). The user'"'"'s account or trading instruction is activated if the password is correct. The trading and auction system (10) assigns a unique identification number to each product or service for sale or auction. Messages are sent to a buyer'"'"'s wireless device (22) concerning offers or bids made by that buyer in relation to a product or service, with the unique identification number of the product or service included in a ‘Sender’ field of each message. The buyer can send further trading instructions for the product by simply replying to the received message and entering a trading instruction. The trading and auction system (10) processes messages concerning a buyer'"'"'s trading instructions on a product or service from that buyer'"'"'s wireless device (22) by: determining the product or service by extracting and recognizing the unique identification number of the product or service from a ‘Recipient’ field of received messages; identifying the buyer by extracting and recognizing the unique identifier of the wireless device from the ‘Sender’ field of each message and parsing a text body of each message to determine the buyer'"'"'s trading instructions for that product or service.

Claims

1. A method for the authentication of buyers and sellers and for the transmission of trading instructions in a trading and auction system, comprising the steps of:

Requiring that a prospective buyer or seller register with the trading and auction system before being able to place trading instructions, including requiring that said prospective buyer or seller provide a unique identifier of a SMS messaging-capable wireless device in the possession of the prospective buyer or seller, the SMS messaging-capable wireless device configured to send and receive short message protocol messages, each of the messages having a single ‘

Sender’

field and a single ‘

Recipient’

field;

Assigning a password to said prospective buyer or seller;

Communicating said password to said prospective buyer or seller and receiving a confirmation of said password from said prospective buyer or seller, wherein at least one of said steps of communicating said password and receiving a confirmation of said password are performed using said SMS wireless device'"'"'s messaging capability;

Activating said prospective buyer or seller'"'"'s account or trading instruction if said communicated password matches the assigned password;

Assigning a unique identification number to each product or service for sale or auction at said trading and auction system;

Sending short message protocol messages to a buyer'"'"'s SMS messaging-capable wireless device concerning offers or bids made by that buyer in relation to a product or service when the buyer has been outbid or has no longer made a winning offer, with the unique identification number of the product or service included in the only ‘

Sender’

field of each short message protocol message to the buyer;

Receiving higher bid short message protocol messages concerning a buyer'"'"'s trading instructions on a product or service from that buyer'"'"'s SMS messaging-capable wireless device wherein said unique identification number automatically inserted in the ‘

Recipient’

field as a result of the buyer selecting a ‘

reply’

option, determining the product or service by extracting and recognizing the unique identification number of the product or service from the only ‘

Recipient’

field of received higher bid short message protocol messages from the buyer, identifying the buyer by extracting and recognizing the unique identifier of the SMS wireless device from the only ‘

Sender’

field of each message from the buyer and parsing a text body of each higher bid short message protocol messages to determine the buyer'"'"'s trading instructions for that product or service.

2. A method as claimed in claim 1, further comprising the step of requiring that a buyer authenticate their identity with the trading and auction system when placing their first trading instruction in relation to a product or service by an exchange of messages between the trading and auction system, in which at least one of said messages are sent or received using said SMS wireless device'"'"'s messaging capability.

3. A method as claimed in claim 1 or 2, wherein said step of communicating said password to said prospective buyer or seller is performed over a computer network, and said step of receiving a confirmation of said password from said prospective buyer or seller is performed using said SMS wireless device'"'"'s messaging capability.

4. A method as claimed in claim 1 or 2, wherein said step of communicating said password to said prospective buyer or seller is performed using said SMS wireless device'"'"'s messaging capability, and said step of receiving a confirmation of said password from said prospective buyer or seller is performed over a computer network.

5. A method as claimed in claim 1, wherein said wireless device is serviced by a GSM network including a SMSC server to control and manage SMS to and from said wireless device, wherein said trading and auction system is in direct communication with said SMSC server.

6. A method as claimed in claim 1, wherein said step of sending messages to a buyer'"'"'s SMS messaging-capable wireless device includes the step of concatenating an access identification number with the unique identification number of the product or service being bid on and placing said concatenated number in the only ‘

Sender’

field of each message to the buyer, an SMSC server using the access identification number to identify whether SMS messages from the SMS messaging-capable wireless devices are destined for said trading and auction system and to forward such destined SMS messages directly to the trading and auction system.

7. A method as claimed in claim 1, wherein said trading and auction system is connected to an SMSC server via a computer network.

8. A method for the authentication of buyers and sellers in a trading and auction system, comprising the steps of:

Requiring that a prospective buyer or seller register with the trading and auction system before being able to place trading instructions, including requiring that said prospective buyer or seller provide a unique identifier of a SMS messaging-capable wireless device in the possession of the prospective buyer or seller, the SMS messaging-capable wireless device configured to send and receive SMS messages, each of the messages having a single ‘

Sender’

field and a single ‘

Recipient’

field;

Assigning a password to said prospective buyer or seller;

Communicating said password to said prospective buyer or seller performed over a computer network to a computer;

Concatenating an access identification number with a numeric address pertaining to and recognized by the system for registration purposes, placing said concatenated number in the only ‘

Sender’

field of a SMS message, and sending the SMS message to said buyer or seller with instructions to enter the communicated password;

receiving a confirmation of said password from said prospective buyer or seller performed using said SMS messaging-capable wireless device'"'"'s messaging capability, wherein the confirmation is received as a result of the buyer or seller selecting a ‘

reply’

option, entering the communicated password into the reply SMS message, and said concatenated number is automatically inserted in the ‘

Recipient’

field of the message; and

Activating said prospective buyer or seller'"'"'s account or trading instruction if said communicated password matches the assigned password.

9. A method as claimed in claim 8, further comprising the step of requiring that a buyer authenticate their identity with the trading and auction system when placing their first trading instruction in relation to a product or service by an exchange of messages between the trading and auction system, in which at least one of said messages are sent or received using said wireless device'"'"'s messaging capability.

10. A method as claimed in claim 8, wherein said wireless device is serviced by a GSM network including a SMSC server to control and manage SMS to and from said wireless device, wherein said trading and auction system is in direct communication with said SMSC server.

11. A method as claimed in claim 10 wherein said SMSC server using the access identification number to identify SMS messages from wireless devices destined for said trading and auction system and to forward such SMS messages directly to the trading and auction system.

12. A method as claimed in claim 8, wherein said trading and auction system is connected to an SMSC server via a computer network.

13. A method for the transmission of trading instructions in a trading and auction system, comprising the steps of:

Assigning a unique identification number to each product or service for sale or auction at said trading and auction system;

Sending short message protocol messages to a buyer'"'"'s SMS messaging-capable wireless device concerning offers or bids made by that buyer in relation to a product or service when the buyer has been outbid or has no longer made a winning offer, each of the short message protocol messages having a single ‘

Sender’

field and a single ‘

Recipient’

field, with the unique identification number of the product or service included in the only ‘

Sender’

field of each short message protocol message to the buyer;

Receiving higher bid short message protocol messages concerning a buyer'"'"'s trading instructions on a product or service from that buyer'"'"'s SMS messaging-capable wireless device wherein said unique identification number automatically inserted in the ‘

Recipient’

field as a result of the buyer selecting a ‘

reply’

option, determining the product or service by extracting and recognizing the unique identification number of the product or service from the only ‘

Recipient’

field of received higher bid short message protocol messages from the buyer, identifying the buyer by extracting and recognizing the unique identifier of the SMS wireless device from the only ‘

Sender’

field of each message from the buyer and parsing a text body of each message from the buyer to determine the buyer'"'"'s trading instructions for that product or service.

14. A method as claimed in claim 13, further comprising the step of requiring that a buyer authenticate their identity with the trading and auction system when placing their first trading instruction in relation to a product or service by an exchange of messages between the trading and auction system, in which at least one of said messages are sent or received using said SMS wireless device'"'"'s messaging capability.

15. A method as claimed in claim 14, wherein said step of exchanging messages comprises the steps of sending a password to said prospective buyer or seller over a computer network, and receiving a confirmation of said password from said prospective buyer or seller using said SMS wireless device'"'"'s messaging capability.

16. A method as claimed in claim 14, wherein said step of exchanging messages comprises the steps of sending a password to said prospective buyer or seller using said SMS wireless device'"'"'s messaging capability, and receiving a confirmation of said password from said prospective buyer or seller over a computer network.

17. A method as claimed in any one of claims 13 to 16, wherein said wireless device is serviced by a GSM network including a SMSC server to control and manage SMS to and from said wireless device, wherein said trading and auction system is in direct communication, via a direct link or through the internet, with said SMSC server.

18. A method as claimed in claim 13, wherein said step of sending messages to a buyer'"'"'s SMS messaging-capable wireless device includes the step of concatenating an access identification number with the unique identification number of the product or service and placing said concatenated number in the only ‘

Sender’

field of each message to the buyer, an SMSC server using the access identification number to identify SMS messages from wireless devices destined for said trading and auction system and to forward such SMS messages directly to the trading and auction system.

19. A method as claimed in claim 13, wherein said trading and auction system is connected to an SMSC server via a computer network.

20. A trading and auction system, comprising:

registration handling means for receiving a unique identifier of a SMS messaging-capable wireless device in the possession of a prospective buyer or seller, the SMS messaging-capable wireless device configured to send and receive short message protocol messages, each of the messages having a single ‘

Sender’

field and a single ‘

Recipient’

field;

message dispatching means for sending short message protocol messages to a prospective buyer or seller'"'"'s SMS messaging-capable wireless device;

message receiving means for receiving short message protocol messages from a prospective buyer or seller'"'"'s SMS messaging-capable wireless device;

said registration handling means arranged to assign a password to said prospective buyer or seller, and to communicate said password to said prospective buyer or seller and receive a confirmation of said password from said prospective buyer or seller, wherein said password is communicated to said prospective buyer or seller'"'"'s SMS wireless device via said message dispatching means and/or said confirmation of said password is received from said prospective buyer or seller'"'"'s wireless device via said message receiving means, said registration handling means arranged to activate said prospective buyer or seller'"'"'s account or trading instruction if said confirmation of said password matches the assigned password;

unique identification number assigning means to automatically allocate a unique identification number to each product or service for sale or auction on said trading and auction system;

database means for storing the unique identification number of each product and service for sale or auction on said trading and auction system and for storing the unique identifier of each buyer or seller'"'"'s SMS wireless device; and

trade and auction handling means arranged to send short message protocol messages to a buyer'"'"'s SMS messaging-capable wireless device concerning offers or bids made by that buyer in relation to a product or service via said message dispatching means, with the unique identification number of the product or service included in the only ‘

Sender’

field of each short message protocol message to the buyer;

said trade and auction handling means further arranged to receive short message protocol messages concerning a buyer'"'"'s trading instructions on a product or service from that buyer'"'"'s SMS messaging-capable wireless device via said message receiving means wherein said unique identification number automatically inserted in the ‘

Recipient’

field as a result of the buyer selecting a ‘

reply’

option, and to determine the product or service by extracting and recognizing the unique identification number of the product or service from the only ‘

Recipient’

field of received short message protocol messages from the buyer, identify the buyer by extracting and recognizing the unique identifier of the SMS wireless device from the only ‘

Sender’

field of each message from the buyer, parse a text body of each message from the buyer to determine the buyer'"'"'s trading instructions for that product or service and execute said trading instructions.

21. A trading and auction system as claimed in claim 20, wherein said trade and auction handling means is arranged to require that a buyer authenticate their identity with the trading and auction system when placing their first trading instruction in relation to a product or service by an exchange of messages with the trading and auction system, wherein one of said messages is communicated to said buyer'"'"'s wireless device via said message dispatching means and/or another of said messages is received from said buyer'"'"'s wireless device via said message receiving means.

22. A trading and auction system as claimed in claim 20 or 21, wherein said wireless device is serviced by a GSM network including a SMSC server to control and manage SMS to and from said wireless device, said message dispatching means and message receiving means being in direct communication with said SMSC server to send and receive SMS therefrom, respectively.

23. A trading and auction system as claimed in claim 20, wherein said message dispatching means is arranged to concatenate an access identification number with the unique identification number of the product or service and place said concatenated number in the only ‘

Sender’

field of each message sent to a buyer concerning that product or service, an SMSC server using the access identification number to identify SMS messages from the buyer'"'"'s wireless device destined for said trading and auction system and to forward such SMS messages directly to the message receiving means.

24. A trading and auction system as claimed in claim 20, wherein said message dispatching means and message receiving means are connected to an SMSC server via a computer network.

25. A trading and auction system, comprising:

registration handling means for receiving a unique identifier of a SMS messaging-capable wireless device in the possession of a prospective buyer or seller, the SMS messaging-capable wireless device configured to send and receive short message protocol messages, each of the messages having a single ‘

Sender’

field and a single ‘

Recipient’

field;

message dispatching means for sending short message protocol messages to a prospective buyer or seller'"'"'s SMS messaging-capable wireless device;

message receiving means for receiving short message protocol messages from a prospective buyer or seller'"'"'s SMS messaging-capable wireless device;

database means for storing the unique identifier of each buyer or seller'"'"'s SMS messaging-capable wireless device;

said registration handling means arranged to assign a password to said prospective buyer or seller, and to communicate said password to said prospective buyer or seller and receive a confirmation of said password from said prospective buyer or seller, wherein said password is communicated to said prospective buyer or seller registering through a computer via a computer network, and an SMS message is sent to said prospective buyer or seller'"'"'s SMS wireless device via said message dispatching means by concatenating an access identification number with a numeric address pertaining to the registration handling means, placing said concatenated number in the-only ‘

Sender’

field of a SMS message, and sending instructions in the SMS message to said buyer or seller for entering the password received at the computer, and/or said confirmation of said password is received from said prospective buyer or seller'"'"'s SMS wireless device via said message receiving means as a result of the buyer or seller selecting a ‘

reply’

option. entering the communicated password into the reply SMS message, and said concatenated number is automatically inserted in the ‘

Recipient’

field of the message, said registration handling means arranged to activate said prospective buyer or seller'"'"'s account or trading instruction if said confirmation of said password matches the assigned password.

26. A trading and auction system as claimed in claims 25, wherein said wireless device is serviced by a GSM network including a SMSC server to control and manage SMS to and from said wireless device, said message dispatching means and message receiving means being in direct communication with said SMSC server to send and receive SMS therefrom, respectively.

27. A trading and auction system as claimed in claim 25 or 26, wherein said message dispatching means and message receiving means are connected to an SMSC server via a computer network.

28. A trading and auction system, comprising:

message dispatching means for sending short message protocol messages to a prospective buyer or seller'"'"'s SMS messaging-capable wireless device, the SMS messaging-capable wireless device configured to send and receive short message protocol messages, each of the messages having a single ‘

Sender’

field and a single ‘

Recipient’

field;

message receiving means for receiving short message protocol messages from a prospective buyer or seller'"'"'s SMS messaging-capable wireless device;

unique identification number assigning means to automatically allocate a unique identification number to each product or service for sale or auction on said trading and auction system;

database means for storing the unique identification number of each product and service for sale or auction on said trading and auction system; and

trade and auction handling means arranged to send short message protocol messages to a buyer'"'"'s SMS messaging-capable wireless device concerning offers or bids made by that buyer in relation to a product or service via said message dispatching means, with the unique identification number of the product or service included in the only ‘

Sender’

field of each short message protocol message to the buyer;

said trade and auction handling means further arranged to receive short message protocol messages concerning a buyer'"'"'s trading instructions on a product or service from that buyer'"'"'s SMS wireless device via said message receiving means wherein said unique identification number automatically inserted in the ‘

Recipient’

field as a result of the buyer selecting a ‘

reply’

option, and to determine the product or service by extracting and recognizing the unique identification number of the product or service from the only ‘

Recipient’

field of received short message protocol messages from the buyer, identify the buyer by extracting and recognizing a unique identifier of the SMS wireless device from the only ‘

Sender’

field of each message from the buyer, parse a text body of each message from the buyer to determine the buyer'"'"'s trading instructions for that product or service and execute said trading instructions.

29. A trading and auction system as claimed in claim 28, wherein said trade and auction handling means is arranged to require that a buyer authenticate their identity with the trading and auction system when placing their first trading instruction in relation to a product or service by an exchange of messages with the trading and auction system, wherein one of said messages is communicated to said buyer'"'"'s wireless device via said message dispatching means and/or another of said messages is received from said buyer'"'"'s wireless device via said message receiving means.

30. A trading and auction system as claimed in claim 28 or 29, wherein said wireless device is serviced by a GSM network including a SMSC server to control and manage SMS to and from said wireless device, said message dispatching means and message receiving means being in direct communication with said SMSC server to send and receive SMS therefrom, respectively.

31. A trading and auction system as claimed in claim 28, wherein said message dispatching means is arranged to concatenate an access identification number with the unique identification number of the product or service and place said concatenated number in the only ‘

Sender’

field of each message sent to a buyer concerning that product or service, an SMSC server using the access identification number to identify SMS messages from the buyer'"'"'s wireless device destined for said trading and auction system and to forward such SMS messages directly to the message receiving means.

32. A trading and auction system as claimed in claim 28, wherein said message dispatching means and message receiving means are connected to an SMSC server via a computer network.