Methods of facilitating merchant transactions using a computerized system including a set of titles

• US 7,707,066 B2
• Filed: 04/15/2003
• Issued: 04/27/2010
• Est. Priority Date: 05/15/2002
• Status: Active Grant

• Current Assignee: API Market, Inc.
• Original Assignee: Navio Systems, Inc.
• Inventors: Collins, Kevin, Bruce, James, Clark, Alex F., Ding, Josh C., Roever, Stefan
• Primary Examiner(s): Fischer; Andrew J.
• Assistant Examiner(s): ZELASKIEWICZ, CHRYSTINA E
• Application Number:
  US10/414,817
• Publication Number:
  US 20050251452A1
• Time in Patent Office: 2,569 Days
• Field of Search: 705 26- 27, 705/1, 705/51, 705/64, 705/39, 705/74
• US Class Current: 705/27.1
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/12 specially adapted for electronic shopping systems
• CPC Class Codes: G06Q 20/123 Shopping for digital content
• CPC Class Codes: G06Q 20/382 insuring higher security of transaction
• 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 30/0641 Shopping interfaces

Abstract

A method of facilitating a transaction between a merchant and a buyer using a computerized system including a set of titles. The method includes storing the set of titles in a merchant site corresponding to a set of products for sale; browsing the merchant site using a client device and selecting a product for purchase; and generating a payment slip title for the product including information relating to a payment amount and a buyer identifier. The method further includes selecting a payment structure from a set of available payment structures; modifying the payment slip title to include information corresponding to the selected payment structure; releasing the product title to the buyer; and transmitting the payment amount to the merchant.

Claims

1. A computer-implemented method for facilitating a transaction between a first entity and a second entity via a network comprising a plurality of computing devices, the method comprising:

storing a plurality of title objects on one or more of the computing devices, each title object representing at least one right which may be redeemed by presentation of the title object to a title-enabled process operating in the network, each title object encoding indicia preventing duplicate redemption of the title object, the indicia comprising an updateable state, each title object also encoding a pointer to a resource in the network to which the at least one right corresponds;

exchanging selected ones of the title objects between the first and second entities to effect the transaction and transfer of the rights represented by the selected title objects between the first and second entities, wherein exchanging the selected title objects comprises,

transferring control of a first one of the selected title objects from a first title management process operating on one or more of the computing devices to which the first entity has access to a second title management process operating on one or more of the computing devices to which the second entity has access, and

transferring control of a second one of the selected title objects from the second title management process to the first title management process; and

in conjunction with exchange of the selected title objects, updating the updateable states encoded in each of the selected title objects to agree with correspondingly updated externally stored states for each of the selected title objects to transfer of the rights represented by the selected title objects between the first and second entities and to ensure that only a single valid instance of each of the selected title objects is in circulation in the network.

2. The method of claim 1 wherein exchange of the selected title objects is facilitated between or among any of the first entity, the second entity, a third entity responsible for facilitating a portion of the transaction, or any additional entities associated with the transaction.

3. The method of claim 2 wherein each of the first, second, and third entities comprises one of a human, a commercial enterprise, a computing device, or a software process.

4. The method of claim 1 wherein effecting the exchange of the selected title objects comprises transferring the first and second selected title objects to a lockbox process, the lockbox process being programmed to release the first and second selected title objects to a respective ones of the first entity and the second entity upon satisfaction of at least one criterion.

5. The method of claim 4 wherein the at least one criterion comprises a plurality of criteria.

6. The method of claim 4 wherein satisfaction of the at least one criterion is manually verified by one or both of the first and second entities.

7. The method of claim 4 wherein satisfaction of the at least one criterion is verified by an automated process associated with one or both of the first and second entities.

8. The method of claim 4 further comprising transferring additional ones of the selected title objects to the lockbox process, the lockbox process being programmed to release the additional selected title objects to one or both of the first and second entities upon satisfaction of the at least one criterion.

9. The method of claim 1 wherein transfer of control of the second selected title object to the first title management process effects a payment from the second entity to the first entity.

10. The method of claim 9 wherein the payment corresponds to an account, and wherein the second selected title object represents a right to charge the account.

11. The method of claim 9 wherein the payment corresponds to one or more of currency, reward points, personal profile information, a credit account, a debit account, a checking account, a bank account, a blinded account, a pre-paid account, a telecommunications account, or a secured account.

12. The method of claim 11 wherein the payment corresponds to currency, and wherein an amount of the payment exceeds a purchase price, the method further comprising transmitting a third one of the selected title objects to the second title management process, the third selected title object comprising a currency title object representing a currency value corresponding to a difference between the payment amount and the purchase price.

13. The method of claim 11 wherein the payment corresponds to currency of a first type, the method further comprising receiving a third one of the selected title objects from the second title management process, the third selected title object corresponding to currency of a second type, and exchanging the second selected title object for the third selected title object.

14. The method of claim 1 wherein transfer of control of the first selected title object to the second title management process effects transfer of at least one right to the second entity which may be redeemed by presentation of the first selected title object to a first process.

15. The method of claim 14 wherein the at least one right relates to one or more of access to content, access to a service, or access to a purchased item.

16. The method of claim 1 wherein effecting the exchange of the selected title objects comprises:

transmitting a sales order object to the second title management process in response to a purchase request associated with the second entity, the sales order object comprising transaction information which includes payment information specifying how payment may be effected; and

transmitting a payment title object to the first title management process in response to the sales order object.

17. The method of claim 16 wherein the transaction information further includes one or more of a transaction identifier, a payment amount, information regarding an object of the transaction, or information regarding how to proceed with the transaction.

18. The method of claim 17 wherein the transaction information further identifies a lockbox process which is programmed to facilitate exchange of the selected title objects by receiving at least one of the selected title objects, and releasing the at least one selected title object upon satisfaction of at least one criterion.

19. The method of claim 18 wherein the at least one criterion comprises receipt and authentication of the payment title object.

20. The method of claim 16 wherein the payment information specifies payment using an account, and wherein the payment title object comprises a payment slip title object which represents a right to charge the account.

21. The method of claim 20 further comprising generating the payment slip title object with reference to the sales order object.

22. The method of claim 21 wherein generation of the payment slip title object is done with reference to payment logic which is part of the sales order object.

23. The method of claim 16 further comprising generating the purchase request in response to selection of an interface object in a user interface associated with the first entity.

24. The method of claim 23 wherein generating the purchase request comprises generating a purchase request title object, the method further comprising transmitting the purchase request title object to the first title management process.

25. The method of claim 23 wherein the interface object comprises one of the selected title objects and represents an offer from the first entity.

26. The method of claim 16 further comprising forwarding the payment title object from the first title management process to a third party payment provider, and effecting a corresponding payment from the third party payment provider to the first entity.

27. The method of claim 26 wherein effecting the payment comprises transmitting a second payment title object from the third party payment provider to the first title management process, the second payment title object representing the payment.

28. The method of claim 16 wherein the sales order object comprises one of the selected title objects.

29. The method of claim 1 further comprising transmitting instructions for facilitating a portion of the transaction to a first process.

30. The method of claim 29 wherein the first process comprises a lockbox process which is programmed to facilitate exchange of the selected title objects by receiving at least one of the selected title objects, and releasing the at least one selected title object upon satisfaction of at least one criterion.

31. The method of claim 29 wherein the instructions are represented by one of the selected title objects.

32. The method of claim 29 wherein the instructions relate to one or more of effecting payment, identification of at least one other process associated with the transaction, rules governing operation of any of the processes associated with the transaction, or terms and conditions associated with the transaction.

33. The method of claim 1 wherein the first selected title object comprises a first type of payment title object and the second selected title object comprises a second type of payment title object different from the first type, the first and second payment title objects having similar values.

34. The method of claim 33 wherein each of the first and second types of payment title objects relates to one or more of currency, reward points, personal profile information, a credit account, a debit account, a checking account, a bank account, a blinded account, a pre-paid account, a telecommunications account, or a secured account.