Online staging of auction settlement transactions

• US 7,849,006 B2
• Filed: 03/27/2003
• Issued: 12/07/2010
• Est. Priority Date: 03/27/2002
• Status: Active Grant

• Current Assignee: Western Union
• Original Assignee: Western Union
• Inventors: Hansen, David L., Baumgart, Mark D.
• Primary Examiner(s): Akintola; Olabode
• Application Number:
  US10/401,506
• Publication Number:
  US 20030229578A1
• Time in Patent Office: 2,812 Days
• Field of Search: 705 39- 40
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/02 involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/12 specially adapted for electronic shopping systems
• CPC Class Codes: G06Q 20/381 Currency conversion
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

A method for paying for an auction item at least partially using an online payment system by a payor to compensate a payee includes receiving at a host computer system payment information relating to a transaction. The payment information includes comprising at least a payee identifier, a first payment amount, and an auction identifier. The auction identifier relates to an auction that was won by the payor that was for the auction item. The method also includes generating a transaction identifier at the host computer system and transmitting the transaction identifier to the payor. The method further includes receiving at a retail location a payment and using the transaction identifier to relate the payment to the transaction. The method further includes making a second payment amount available to the payee. The second payment amount may be based on the payment.

Claims

1. A method of paying for an auction item at least partially using an online payment system by a payor to compensate a payee, the method comprising:

an auction site providing confirmation to the payor that the payor won an electronic auction;

the auction site receiving a selection from the payor to settle the auction via a transaction that is staged online, wherein the transaction being staged online comprises payment information being provided by the payor online, but settlement by the payor occurring at a retail location;

the auction site providing to the online payment system payment information relating to the transaction, wherein the payment information comprises at least a payee identifier, a first payment amount, and an auction identifier, wherein the auction identifier relates to the auction won by the payor;

in response to receiving the payment information, the online payment system creating a transaction identifier relating to the transaction for use in identifying the transaction with a money transfer service provider having associated retail locations;

the online payment system presenting to the payor an auction settlement screen, wherein the screen has been pre-populated with at least the payee identifier, the first payment amount, the auction identifier and the transaction identifier;

thereafter, at the retail location, receiving a payment and using the transaction identifier to relate the payment to the transaction, wherein the retail location is one of the retail locations associated with the money transfer service provider;

making a second payment amount available to the payee based on the payment;

in response to making the second payment amount associated with the transaction identifier available to the payee, notifying the online payment system that the payor has remitted payment in the transaction associated with the transaction identifier.

2. The method of claim 1, wherein the second payment amount is presented to the payee at a retail location in cash.

3. A method for paying for an auction item at least partially using an online payment system by a payor to compensate a payee, the method comprising:

at the online payment system, receiving payment information relating to a transaction, wherein the payment information comprises at least a payee identifier, a first payment amount, and an auction identifier, wherein the auction identifier relates to an auction that was won by the payor that was for the auction item;

in response to receiving the payment information, the online payment system generating a transaction identifier relating to the transaction for use with a money transfer service provider having associated money transfer retail locations;

the online payment system presenting to the payor an auction settlement screen, wherein the screen has been pre-populated with at least the payee identifier, the first payment amount, the auction identifier, and the transaction identifier;

at a retail location associated with the money transfer service provider, receiving a payment and using the transaction identifier to relate the payment to the transaction;

making a second payment amount available to the payee based on the payment; and

in response to making the second payment amount available to the payee, transmitting from the retail location to the online payment system that the payor has remitted payment in the transaction associated with the transaction identifier.

4. The method of claim 3, further comprising transmitting a message to the payee that the payment has been received relating to the transaction.

5. The method of claim 3, wherein the first payment amount is in a first currency and the second payment amount is in a second currency.

6. The method of claim 5, wherein the first and second currencies are the same.

7. The method of claim 3, wherein the first and second payment amounts vary by one or more fees.

8. The method of claim 3, wherein the second payment amount is at least partially embodied in a negotiable instrument.

9. The method of claim 3, wherein the second payment amount is at least partially embodied in a wire transfer.

10. The method of claim 3, wherein making a second payment amount available to the payee comprises making the second payment amount available to the payee for pickup at any of a plurality of retail locations.

11. The method of claim 3, wherein making a second payment amount available to the payee comprises sending a money order to the payee.

12. The method of claim 3, wherein the payee identifier is an e-mail address associated with the payee.

13. A computer-based system for paying for an auction item by a payor to compensate a payee, the system comprising:

an online payment system that has computer-executable instructions to;

receive payment information at a host computer system relating to a transaction comprising at least a payee identifier, a first payment amount, and an auction identifier, wherein the auction identifier relates to an auction that was won by the payor that was for the auction item;

in response to receiving the payment information at the host computer system, creating a transaction identifier relating to the transaction generated by the host computer system for use in identifying the transaction to a money transfer service provider having associated money transfer retail locations;

present, at a computer remote from the host computer system, to the payor an auction settlement screen, wherein the screen has been pre-populated with at least the payee identifier, the first payment amount, the auction identifier, and the transaction identifier;

receive, at the host computer system, information from a retail location associated with the money transfer service provider that a payment associated with the transaction identifier has been received relating to the transaction; and

make a second payment amount available to the payee based on the payment.

14. The system of claim 13, wherein the online payment system is further programmed to transmit a message to the payee that the payment has been received relating to the transaction.

15. The system of claim 13, wherein the first payment amount is in a first currency and the second payment amount is in a second currency.

16. The system of claim 15, wherein the first and second currencies are the same.

17. The system of claim 13, wherein the first and second payment amounts vary by one or more fees.

18. The system of claim 13, wherein the second payment amount is at least partially embodied in a negotiable instrument.

19. The system of claim 13, wherein the second payment amount is at least partially embodied in a wire transfer.

20. The system of claim 13, wherein the online payment system is further programmed to make the second payment amount available to the payee for pickup at any of a plurality of retail locations.

21. The system of claim 13, wherein the online payment system is further programmed to cause a money order representing the second payment amount to be sent to the payee.

22. The system of claim 13, wherein the payee identifier is an e-mail address associated with the payee.

23. The system of claim 13, further configured such that the payee must present the transaction identifier at the retail location to receive the second transaction amount.