Automatic termination of electronic transactions

• US 8,060,437 B2
• Filed: 10/31/2006
• Issued: 11/15/2011
• Est. Priority Date: 10/31/2006
• Status: Active Grant

• Current Assignee: Xylon LLC (Intellectual Ventures LLC)
• Original Assignee: International Funding Partners LLC (Intellectual Ventures LLC)
• Inventors: Foster, Chuck
• Primary Examiner(s): Norman; Samica L
• Application Number:
  US11/554,880
• Publication Number:
  US 20080103965A1
• Time in Patent Office: 1,841 Days
• Field of Search: 705/39, 705/26, 705/38, 705/35, 705/27, 705/71
• US Class Current: 705/38
• CPC Class Codes: G06Q 20/02 involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/3829 involving key management
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof

Abstract

A system and method of terminating a transaction between a merchant and customer are disclosed.

Claims

1. A method comprising:

a computer system electronically receiving a request from a customer to select at least one good or service for purchase from a first merchant at a first price as a non-cash transaction, wherein the purchase is on behalf of an entity, and wherein the computer system includes a processor and a memory;

the computer system electronically receiving information identifying one or more current offers for the at least one good or service, wherein the one or more current offers are from one or more merchants other than the first merchant, and wherein at least one of the one or more current offers specifies a second price for the at least one good or service that is less than the first price; and

the computer system automatically terminating the non-cash transaction responsive to a purchasing policy for the entity prohibiting the non-cash transaction based at least in part on the second price for the at least one good or service being less than the first price.

2. The method of claim 1, wherein said customer is an employee of said entity.

3. The method of claim 1, wherein said terminating is also based, at least in part, on received information indicative of a budget of said entity.

4. The method of claim 1, wherein the one or more current offers are for at least one good or service in addition to the at least one good or service.

5. The method of claim 1, wherein the one or more current offers are valid for a limited time.

6. The method of claim 1, further comprising:

presenting one or more alternative transactions in response to terminating said non-cash transaction, wherein the one or more alternative transactions are based on the one or more current offers.

7. The method of claim 1, further comprising:

the computer system receiving contact information from one or more entities;

the computer system contacting at least one of the one or more entities regarding a status of the non-cash transaction.

8. The method of claim 1, further comprising:

the computer system electronically receiving a message from the customer, wherein the message includes information regarding the non-cash transaction between the customer and the first merchant, wherein the message is generated based on information regarding the non-cash transaction that is sent from the first merchant to the customer.

9. The method of claim 8, wherein the received information includes information regarding one or more risks associated with the first merchant.

10. The method of claim 1, further comprising:

receiving a message directly from the first merchant, wherein the message includes information regarding the non-cash transaction between the customer and the first merchant.

11. The method of claim 1, wherein the received information further includes information regarding one or more risks associated with the first merchant.

12. The method of claim 1, wherein the received information includes information indicating special deals or bargains from the one or more merchants.

13. The method of claim 1, wherein the received information identifying one or more current offers includes pricing information for one or more alternative transactions to the non-cash transaction, wherein the one or more alternative transactions are based on the one or more current offers.

14. A computer system including a processor and a memory, wherein said processor is configured to execute instructions stored in said memory to cause said computer system to:

electronically receive a request from a customer to select at least one good or service for purchase from a first merchant at a first price as a non-cash transaction, wherein the purchase is on behalf of an entity;

electronically receive information specifying one or more current offers for the at least one good or service, wherein the one or more current offers are from one or more merchants other than the first merchant, and wherein at least one of the one or more current offers specifies a second price for the at least one good or service that is less than the first price; and

automatically terminate the non-cash transaction based, at least in part, on a purchasing policy for the entity prohibiting the non-cash transaction based on the second price for the at least one good or service being less than the first price.

15. The computer system of claim 14, wherein said instructions are further executable by said processor to cause said computer system configured to automatically determine whether to allow the non-cash transaction to proceed based, at least in part, on received information indicative of a budget of said entity.

16. The computer system of claim 14, wherein said instructions are further executable by said processor to cause said computer system to automatically determine whether to allow the non-cash transaction to proceed based, at least in part, on received information indicative of a cash flow event affecting said entity.

17. The computer system of claim 14, wherein said instructions are further executable by said processor to cause said computer system to automatically determine whether to allow the non-cash transaction to proceed based, at least in part, on received information indicative of a privilege level for the customer.

18. The computer system of claim 14, wherein said instructions are further executable by said processor to cause said computer system to:

present one or more alternative transactions in response to terminating said non-cash transaction, wherein the one or more alternative transactions are based on the one or more current offers.

19. The computer system of claim 18, wherein the received information specifying one or more current offers includes pricing information for one or more alternative transactions to the non-cash transaction, wherein the one or more alternative transactions are based on the one or more current offers.

20. The computer system of claim 14, wherein the instructions are further executable by said processor to cause said computer system to electronically receive a message from the customer, wherein the message includes information regarding the non-cash transaction, wherein the message is generated based on information regarding the non-cash transaction that is sent between the first merchant and the customer.

21. The computer system of claim 14, wherein the instructions are further executable by said processor to cause said computer system to electronically receive a message directly from the first merchant, wherein the message includes information regarding the non-cash transaction.

22. The computer system of claim 14, wherein the received information further includes information regarding one or more risks associated with the first merchant.

23. The computer system of claim 14, wherein the received information includes information indicating a special deal or a bargain, wherein the special deal or bargain is from the one or more merchants other than the first merchant.

24. The computer system of claim 14, wherein the instructions are further executable by said processor to cause said computer system to forward purchase information to a financial intermediary in response to automatically determining to allow the non-cash transaction to proceed, wherein the purchase information indicates an identity of the customer.

25. The computer system of claim 14, wherein the instructions are further executable by said processor to cause said computer system, subsequent to automatically determining to allow the non-cash transaction to proceed, to transmit a payment notification to the first merchant.

26. A non-transitory computer-readable storage medium having stored thereon computer-executable instructions that are executable by a computing device including a processor and a memory to cause the computing device to perform operations comprising:

electronically receiving a request from a customer to select at least one good or service for purchase from a first merchant at a first price as a non-cash transaction, wherein the purchase is on behalf of an entity;

electronically receiving information identifying one or more current offers for the at least one good or service, wherein the one or more current offers are from one or more merchants that are not the first merchant, and wherein the one or more current offers specify a second price for the at least one good or service that is less than the first price; and

automatically terminating the non-cash transaction based, at least in part, on a purchasing policy for the entity prohibiting the non-cash transaction based on the second price for the at least one good or service being less than the first price.

27. The non-transitory computer-readable storage medium of claim 26, wherein said determining is also based, at least in part, on received information indicative of a budget of said entity.

28. The non-transitory computer-readable storage medium of claim 26, wherein the one or more current offers are valid for a limited time.

29. The non-transitory computer-readable storage medium of claim 26, wherein said determining is also based, at least in part, on received information indicative of a risk of the first merchant failing to deliver the at least one good or service.

30. The non-transitory computer-readable storage medium of claim 26, wherein said operations further comprise:

presenting one or more alternative transactions in response to terminating said non-cash transaction, wherein the one or more alternative transactions involve a merchant other than the first merchant.

31. The non-transitory computer-readable storage medium of claim 30, wherein said terminating is performed responsive to said received information identifying the one or more current offers.

32. The non-transitory computer-readable storage medium of claim 26, wherein the operations further comprise:

electronically receiving a message from the customer, wherein the message includes information regarding the non-cash transaction, and wherein the message is generated based on information regarding the non-cash transaction that is sent between the first merchant and the customer.

33. The non-transitory computer-readable storage medium of claim 26, wherein the operations further comprise:

electronically receiving a message directly from the first merchant, wherein the message includes information regarding the non-cash transaction.

34. The non-transitory computer-readable storage medium of claim 26, wherein the operations further comprise:

causing the entity to be contacted regarding a status of the non-cash transaction.

35. The non-transitory computer-readable storage medium of claim 26, wherein the received information further includes information regarding one or more risks associated with making purchases from the first merchant.

36. The non-transitory computer-readable storage medium of claim 26, wherein the received information includes information indicating a special deal from the one or more merchants that are not the first merchant.