Settlement systems and methods wherein a buyer takes possession at a retailer of a product purchased using a communication network

US7039603B2 · kind B2 · utility

Assignee

• Walker Digital, LLC · US

Inventors

• Jay S. Walker · Ridgefield, US
• Jonothan Otto · New York, US
• Andrew S. Van Luchene · Norwalk, US
• Magdalena Mik · Greenwich, US
• Daniel E. Tedesco · Huntington, US
• Ian Levitan · Westmount, CA

Key dates

• Filing date: Jul 7, 1999
• Grant date: May 2, 2006
• Expiry date: Jul 7, 2019

Classification

• Technology area (CPC G): Physics
• CPC primary: G07F9/026
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

Settlement systems and methods are provided wherein a buyer takes possession of a product at a retailer. In one embodiment, a purchasing system arranges through a communication network for a buyer to purchase a product from a seller at a first price. The purchasing system also arranges for the buyer to take possession of the product at a retailer that offers the product for sale at a second price. Payment of an amount based on the first price is received from the buyer, and the purchasing system arranges for the retailer to receive payment of an amount based on a settlement price in exchange for providing the product to the buyer.