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

• US 8,015,087 B2
• Filed: 04/10/2007
• Issued: 09/06/2011
• Est. Priority Date: 01/07/2003
• Status: Active Grant

• Current Assignee: PayPal, Inc. (PayPal Holdings, Inc.)
• Original Assignee: eBay Inc.
• Inventors: Dulsky, Kevin, Grove, Steve, Edson, Zak
• Primary Examiner(s): Oyebisi; Ojo O.
• Application Number:
  US11/733,569
• Publication Number:
  US 20070198369A1
• Time in Patent Office: 1,610 Days
• Field of Search: 705/4, 705/37, 705/80, 705/35, 705/36.R, 705/38
• US Class Current: 705/35
• 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 comprising:

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;

obtaining user credit information specific to the user;

presenting the user with periodic payment data based on financing data and the user credit information, wherein the periodic payment data informs the user of the cost of the selected listing based on periodic payments, the periodic payment data being presented in combination with the selected listing;

presenting the user with a bid option, the bid option being an option to bid based on periodic payments, the bid option being presented in combination with the selected listing; and

receiving a bid from the user based on the option to bid based on periodic payments.

2. The method of claim 1 further including presenting the user with an option to conclude a transaction for the selected listing based on the received bid,

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

4. The method of claim 1, wherein the periodic payments are monthly payments.

5. The method of claim 1, wherein the monthly payments are one of:

a lease payment, and an installment sale payment.

6. The method of claim 1, wherein the plurality of listings optionally have associated insurance costs, the periodic payments including the associated insurance costs.

7. The method of claim 1, further including presenting the user with a second bid option being an option to bid based on a single payment.

8. The method of claim 1, wherein acceptance of the bid from the user based on the option to bid based on periodic payments is dependent upon personal information of the user.

9. The method of claim 1, further including:

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

prompting the user for personal information of the user;

communicating a request for financing to a financing facility; and

selectively allowing the user to conclude a transaction for the selected listing based on the received bid from the user based on the option to bid based on periodic payments.

10. The method of claim 1, further including:

receiving financing data from a financing facility;

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

allowing the user to bid on the selected listing up to the maximum bid.

11. The method of claim 1, further including presenting the user with a calculator interface to estimate the periodic payments.

12. A non-transitory 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 a database;

obtain user credit information specific to the user;

present the user with periodic payment data based on financing data and the user credit information, wherein the periodic payment data informs the user of the cost of the selected listing based on periodic payments, the periodic payment data being presented in combination with the selected listing;

present the user with a bid option, the bid option being an option to bid based on periodic payments, the bid option being presented in combination with the selected listing; and

receive 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 instructions being further operable to cause the machine to present the user with an option to conclude a transaction for the selected listing based on the received bid.

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

15. The machine-readable medium of claim 12, wherein the periodic payments are monthly payments.

16. The machine-readable medium of claim 12, wherein the monthly payments are one of:

a lease payment, and an installment sale payment.

17. The machine-readable medium of claim 12, wherein the plurality of listings optionally have associated insurance costs, the periodic payments including the associated insurance costs.

18. The machine-readable medium of claim 12, wherein the instructions being further operable to cause the machine to present the user with a second bid option being an option to bid based on a single payment.

19. The machine-readable medium of claim 12, wherein acceptance of the bid from the user based on the option to bid based on periodic payments is dependent upon personal information of the user.

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

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

prompt the user for personal information of the user;

communicate a request for financing to a financing facility; and

selectively allow the user to conclude a transaction for the selected listing based on the received bid from the user based on the option to bid based on periodic payments.

21. The machine-readable medium of claim 12, wherein the instructions being further operable to cause the machine to:

receive financing data from a financing facility;

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

allow the user to bid on the selected listing up to the maximum bid.

22. The machine-readable medium of claim 12, wherein the instructions being further operable to cause the machine to present the user with a calculator interface to estimate the periodic payments.

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

a database including a plurality of listings; and

at least one server 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 a database;

obtain user credit information specific to the user;

present the user with periodic payment data based on financing data. and the user credit information, wherein the periodic payment data informs the user of the cost of the selected listing based on periodic payments, the periodic payment data being presented in combination with the selected listing;

present the user with a bid option, the bid option being an option to bid based on periodic payments, the bid option being presented in combination with the selected listing; and

receive a bid from the user based on the option to bid based on periodic payments.

24. The system of claim 23, being further operable to present the user with an option to conclude a transaction for the selected listing based on the received bid.

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

26. The system of claim 23, wherein the periodic payments are monthly payments.

27. The system of claim 23, wherein the monthly payments are one of:

a lease payment, and an installment sale payment.

28. The system of claim 23, wherein the plurality of listings optionally have associated insurance costs, the periodic payments including the associated insurance costs.

29. The system of claim 23, being further operable to present the user with a second bid option being an option to bid based on a single payment.

30. The system of claim 23, wherein acceptance of the bid from the user based on the option to bid based on periodic payments is dependent upon personal information of the user.

31. The system of claim 23, being further operable to:

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

prompt the user for personal information of the user;

communicate a request for financing to a financing facility; and

selectively allow the user to conclude a transaction for the selected listing based on the received bid from the user based on the option to bid based on periodic payments.

32. The system of claim 23, being further operable to:

receive financing data from a financing facility;

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

allow the user to bid on the selected listing up to the maximum bid.

33. The system of claim 23, being further operable to present the user with a calculator interface to estimate the periodic payments.

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

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 obtaining user credit information specific to the user;

means for presenting the user with periodic payment data based on financing data and the user credit information, wherein the periodic payment data informs the user of the cost of the selected listing based on periodic payments, the periodic payment data being presented in combination with the selected listing;

means for presenting the user with a bid option, the bid option being an option to bid based on periodic payments, the bid option being presented in combination with the selected listing; and

means for receiving a bid from the user based on the option to bid based on periodic payments.

35. The system of claim 34, further including means for presenting the user with an option to conclude a transaction for the selected listing based on the received bid.