System and method for financial transactions in a rideshare environment

• US 7,930,098 B2
• Filed: 07/12/2010
• Issued: 04/19/2011
• Est. Priority Date: 05/11/2007
• Status: Active Grant

• Current Assignee: Uber Technologies, Inc.
• Original Assignee: Palo Alto Research Center, Inc. (Xerox Holdings Corp.)
• Inventors: Weinerth, Dave, Plurkowski, Luke, Fork, David K., Huang, Qingfeng
• Primary Examiner(s): Black, Thomas G
• Assistant Examiner(s): Chen, Shelley
• Application Number:
  US12/834,829
• Publication Number:
  US 20100280852A1
• Time in Patent Office: 281 Days
• Field of Search: 701/207
• US Class Current: 701/207
• CPC Class Codes: B60R 2325/205 Mobile phones
• CPC Class Codes: B60R 25/00 Fittings or systems for preventing or indicating unauthorised use or theft of vehicles locks for vehicles E05B77/00-E05B85/00
• CPC Class Codes: B60R 25/33 of global position, e.g. by providing GPS coordinates
• CPC Class Codes: G01C 21/26 specially adapted for navigation in a road network
• CPC Class Codes: G01C 21/3438 Rendez-vous, i.e. searching a destination where several users can meet, and the routes to this destination for these users; Ride sharing, i.e. searching a route such that at least two users can share a vehicle for at least part of the route
• CPC Class Codes: G06Q 10/02 Reservations, e.g. for tickets, services or events
• CPC Class Codes: G06Q 30/0207 Discounts or incentives, e.g. coupons or rebates
• CPC Class Codes: G06Q 30/0283 Price estimation or determination
• 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 40/08 Insurance
• CPC Class Codes: G06Q 50/01 Social networking

Abstract

A system and method for financial transactions in a rideshare system is provided. An economic demand is determined for a rideshare transaction. An economic supply is also determined for the rideshare transaction. A rideshare transaction price is set based at least in part upon the economic supply and the economic demand determined for the rideshare transaction.

Claims

1. A method for financial transactions in a rideshare system, comprising the steps of:

maintaining a database of rideshare transactions, each rideshare transaction comprising at least one of passengers and drivers;

identifying a rideshare transaction having at least one available space for one of potential passengers and drivers along a predetermined route;

determining an economic demand for the rideshare transaction by determining at least one of a number of the potential passengers and a number of the potential drivers for the rideshare transaction;

determining an economic supply for the rideshare transaction by determining at least one of a number of the passengers and a number of the drivers associated with the rideshare transaction; and

setting a rideshare transaction price based at least in part upon the economic supply and the economic demand determined for the rideshare transaction; and

selecting at least one of the potential passengers and the potential drivers for inclusion in the rideshare transaction along the predetermined route at the set rideshare transaction price,

wherein the steps are performed by a suitably-programmed computer.

2. A method according to claim 1, further comprising:

determining a commission based at least in part upon the rideshare transaction price.

3. A method according to claim 1, further comprising:

conducting an auction to set the rideshare transaction price by determining the economic demand and the economic supply of the rideshare transaction.

4. A method according to claim 1, further comprising:

increasing the rideshare transaction price when the economic demand is high and the economic supply is low.

5. A method according to claim 1, further comprising:

decreasing the rideshare transaction price when the economic demand is low and the economic supply is high.

6. A method according to claim 1, further comprising:

implementing at least one of third party sponsorships and third party reward programs to compensate the rideshare transaction.

7. A method according to claim 1, further comprising:

offering insurance coverage from third parties to participants of the rideshare transaction.

8. A method according to claim 1, further comprising:

implementing at least one of a monthly fee and a transaction fee for the rideshare transaction.

9. A method according to claim 1, further comprising:

providing carbon credits to participants in the rideshare transaction.

10. A method according to claim 1, wherein the carbon credits can be exchanged for monetary value.

11. A method according to claim 1, further comprising:

offering advertisement space in exchange for revenue.

12. A method according to claim 1, further comprising:

obtaining at least one of sponsorships and subsidies from third party organizations.