Systems and methods for facilitating a transaction by matching seller information and buyer information

• US 8,046,265 B2
• Filed: 05/10/2007
• Issued: 10/25/2011
• Est. Priority Date: 01/14/2000
• Status: Active Grant

• Current Assignee: PayPal, Inc. (PayPal Holdings, Inc.)
• Original Assignee: Walker Digital LLC (Walker Innovation Inc. (f/k/a Patent Properties, Inc.))
• Inventors: Van Luchene, Andrew S., Caine, John C., Van Luchene, Kathleen, Kobayashi, Michiko, Zepp, II, Ronald E., Anderson, Robert J.
• Primary Examiner(s): LEVINE, ADAM L
• Application Number:
  US11/746,696
• Publication Number:
  US 20070208635A1
• Time in Patent Office: 1,629 Days
• Field of Search: 705/26, 705 261- 272
• US Class Current: 705/26.1
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 30/0605 Supply or demand aggregation
• CPC Class Codes: G06Q 30/0613 Third-party assisted
• CPC Class Codes: G06Q 30/0633 Lists, e.g. purchase orders, compilation or processing
• 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 method is provided to facilitate a transaction between a seller and a buyer. Buyer information regarding a desired product is received. A controller then searches through a plurality of seller database records associated with products offered for sale by sellers, for a seller database record that corresponds to the buyer information. Based on the searching a determination is made that no seller database record corresponds to the buyer information. Upon determination that no seller database record corresponds to the buyer information the buyer submits additional information defining a commitment to purchase the product. This information indicating a quality associated with the desired product and a maximum price that the buyer commits to pay. After receiving this information a new seller database record is created with a specific product offered for sale by a specific seller that corresponds with the additional buyer information, and the buyer is automatically charged for the specific product. According to other embodiments, an appropriate item price is determined based on the seller offer information. According to another embodiment, a subsidy is determined, the subsidy being associated with a benefit from a subsidy provider to be applied to the transaction. In this case, it is arranged for the seller to provide the item to the buyer in accordance with the benefit. A seller offer and or a buyer offer may be binding, and a penalty may be applied if a seller and or a buyer does not complete a transaction.

Claims

1. A method, comprising:

receiving buyer information indicative of a product desired to be purchased by a buyer;

searching, by a controller, through a plurality of seller database records associated with products offered for sale by sellers, for a seller database record that corresponds to the buyer information;

determining, based on the searching, that no seller database record corresponds to the buyer information;

receiving, after the determination that no seller database record corresponds to the buyer information, additional buyer information defining a commitment of the buyer to purchase the desired product, wherein the additional buyer information is indicative of;

a quality associated with the desired product; and

a maximum price that the buyer commits to pay for the desired product;

creating, after the receiving of the additional buyer information, a new seller database record associated with a specific product offered for sale by a specific seller;

determining, by the controller, upon the occurrence of a pre-determined event, that the additional buyer information corresponds to the new seller database record; and

automatically charging the buyer for the specific product.

2. The method of claim 1, wherein the pre-determined event comprises at least one of:

an elapse of a pre-determined period of time; and

the creation of the new seller database record.

3. The method of claim 1, wherein the determining that the additional buyer information corresponds to the new seller database record comprises:

identifying a minimum price associated with the specific product offered for sale by the seller; and

determining, by the controller, that the minimum price associated with the specific product is less than or equal to the maximum price committed to by the buyer.

4. The method of claim 1, wherein the determining that the additional buyer information corresponds to the new seller database record comprises:

identifying a minimum price associated with the specific product offered for sale by the seller;

determining, by the controller, that the minimum price associated with the specific product offered for sale by the seller is greater than the maximum price that the buyer committed to pay; and

calculating, by the controller, a gap amount by which the minimum price associated with the specific product offered for sale by the seller exceeds the maximum price that the buyer committed to pay.

5. The method of claim 4, further comprising:

identifying, by the controller, a first amount to be added to the maximum price that the buyer committed to pay, wherein the first amount is equal to or greater than the gap amount.

6. The method of claim 5, further comprising offering to provide the first amount to the buyer.

7. The method of claim 5, further comprising offering to provide the first amount to the seller.

8. The method of claim 1, wherein the additional buyer information is further indicative of:

a quality class associated with the desired product.

9. The method of claim 8, further comprising:

providing, to the buyer, based on the quality class associated with the product desired by the buyer, a suggested price for the desired product.

10. The method of claim 9, wherein the suggested price for the desired product comprises a suggested range of prices.

11. The method of claim 8, wherein the determining that the additional buyer information corresponds to the new seller database record comprises:

identifying a quality class associated with the specific product offered for sale by the seller; and

determining that the quality classes associated with the specific product offered for sale by the seller and with the product desired by the buyer are equivalent.

12. The method of claim 11, wherein the identification of the quality class associated with the specific product offered for sale by the seller is based on at least one of:

(i) a product category, (ii) at least one product feature, (iii) a product retail price, (iv) an age associated with the specific product, (v) a manufacturer of the specific product, (vi) a product description, (vii) a product image, (viii) a product condition, and (ix) an accessory associated with the specific product.

13. The method of claim 11, further comprising:

providing, to the seller, based on the quality class associated with the specific product offered for sale by the seller, a suggested price for the specific product.

14. The method of claim 13, wherein the suggested price for the specific product offered for sale by the seller comprises a suggested range of prices.

15. The method of claim 1, wherein the additional buyer information is further indicative of:

a time limit defining an expiration date of the commitment.

16. The method of claim 1, wherein the additional buyer information is further indicative of:

a payment identifier associated with the buyer.

17. The method of claim 16, wherein the automatic charging is based upon the payment identifier associated with the buyer.

18. The method of claim 1, further comprising:

determining whether to perform the determining that the additional buyer information corresponds to the new seller database record.

19. The method of claim 18, wherein the determining whether to perform the determining that the additional buyer information corresponds to the new seller database record is based upon at least one of:

(i) a past popularity of the product desired by the buyer, (ii) a current popularity of the product desired by the buyer, and (iii) a predicted future popularity of the product desired by the buyer.

20. The method of claim 18, wherein the determining whether to perform the determining that the additional buyer information corresponds to the new seller database record is based upon at least one of:

(i) a past popularity of the specific product offered for sale by the seller, (ii) a current popularity of the specific product offered for sale by the seller, and (iii) a predicted future popularity of the specific product offered for sale by the seller.

21. The method of claim 1, wherein the additional buyer information defines commitments from a plurality of buyers to purchase the desired product, further comprising:

selecting, by the controller, the buyer from the plurality of buyers.

22. The method of claim 21, wherein the selecting is based upon priority rankings associated with each buyer from the plurality of buyers.

23. The method of claim 22, wherein the priority rankings are based on at least one of:

(i) priority payments made by one or more of the buyers from the plurality of buyers, (ii) transaction histories associated with one or more of the buyers from the plurality of buyers, and (iii) a comparison of the new seller database record and the additional buyer information.

24. The method of claim 1, wherein the new seller database record is indicative of a specific product offered for sale by each seller from a plurality of sellers, further comprising:

selecting, by the controller, the seller from the plurality of sellers.

25. The method of claim 24, wherein the selecting is based upon priority rankings associated with each seller from the plurality of sellers.

26. The method of claim 25, wherein the priority rankings are based on at least one of:

(i) priority payments made by one or more of the sellers from the plurality of sellers, (ii) transaction histories associated with one or more of the sellers from the plurality of sellers, and (iii) a comparison of the new seller database record and the additional buyer information.