Method and apparatus for facilitating online payment transactions in a network-based transaction facility using multiple payment instruments

Abstract

A method and system for transferring value to a user of a transaction system including receiving from the user a request for value, evaluating the risk involved in providing the value by evaluating information accessible to the transaction system, selectively approving the request for value based on evaluating the risk involved, and distributing the value to the user. The information that is accessible to the transaction system may be stored at the transaction system or separated from the transaction system. The value may include funds, a line of credit, coupons, or gift certificates, and may be distributed over a period of time. The user may be a buyer or a seller.

1 . A method of transferring value to a user of a transaction system, the method comprising:
 using at least one processor, receiving from the user a request for value;   evaluating the risk involved in providing said value to the user by evaluating information accessible to the transaction system;   selectively approving the request for value based on the evaluating the risk involved; and   responsive to the request being approved, distributing said value to the user.   
     
     
         2 . The method of  claim 1  wherein the information accessible to the transaction system is stored at the transaction system. 
     
     
         3 . The method of  claim 1  wherein the information accessible to the transaction system is stored separated from the transaction system. 
     
     
         4 . The method of  claim 1  wherein said value includes at least one of the group consisting of funds, a line of credit, coupons, and gift certificates. 
     
     
         5 . The method of  claim 1  wherein the value is distributed over a period of time. 
     
     
         6 . The method of  claim 1  wherein the user is a buyer. 
     
     
         7 . The method of  claim 1  wherein the user is a seller. 
     
     
         8 . The method of  claim 1  wherein the evaluating the risk involved further includes using input from one or more third party risk analysis providers to evaluate a level of risk. 
     
     
         9 . The method of  claim 1  wherein the information includes at least one of the group consisting of an item being offered for sale, the location of the user, information on how long the user has been registered with the transaction system, historical business activity of the user within the transaction system, a user classification scheme used in the transaction system, and a peer rating scheme used in the transaction system. 
     
     
         10 . The method of  claim 9  wherein the classification scheme includes feedback from third parties. 
     
     
         11 . The method of  claim 4  wherein the evaluating the risk involved further includes using input from one or more third party risk analysis providers to evaluate a level of risk. 
     
     
         12 . The method of  claim 4  wherein the information includes at least one of the group consisting of an item being offered for sale, the location of the user, information on how long the user has been registered with the transaction system, historical business activity of the user within the transaction system, a user classification scheme used in the transaction system, and a peer rating scheme used in the transaction system. 
     
     
         13 . The method of  claim 12  wherein the user classification scheme includes feedback from third parties. 
     
     
         14 . The method of  claim 9  wherein the historical business activity of the user includes at least one of the group consisting of a number of prior transactions, gross sales, average amount of a sale, mean amount of a sale, and the frequency of sales of an item. 
     
     
         15 . The method of  claim 9  wherein the historical business activity of the user includes comparison of at least one of the group consisting of
 a number of prior transactions of the user, 
 gross sales of the user, 
 average amount of a sale by the user, 
 the mean amount of a sale by the user, 
 the frequency of sales of an item by the user, and 
 a number of sales of an item by the user, 
 
       with at least one of the group consisting of
 a number of prior transactions of a set of users, 
 gross sales of a set of users, 
 average amount of a sale by a set of users, 
 mean amount of a sale by a set of users; 
 the frequency of sales of an item by a set of users, and 
 a number of sales of an item by a set of users. 
 
     
     
         16 . The method of  claim 9  wherein the peer rating scheme includes at least one of the group consisting of third party trust ratings carried out by the transaction system, feedback ratings by participants in transactions on the transaction system, number of recommendation connections of a user, type of recommendation connections of a user, and quality of recommendation connections of a user. 
     
     
         17 . The method of  claim 1  including determining terms of providing said value based on evaluating the risk involved. 
     
     
         18 . The method of  claim 17  wherein the terms include at least one of the group consisting of time of distributing said value, manner of distributing said value, restrictions on distributing said value, restriction on payment instruments used for distributing said value, and an amount of the service fee for distributing said value. 
     
     
         19 . The method of  claim 1  wherein evaluating the risk involved is performed at various stages of distributing said value. 
     
     
         20 . The method of  claim 19  wherein the stages include at least one of the group consisting of the time the user registers with the transaction system, the time the user provides invoice information, and the time said value is distributed to the user. 
     
     
         21 . The method of  claim 1  wherein distributing said value is interrupted or restricted based on the risk involved. 
     
     
         22 . The method of  claim 1  wherein the risk involved includes at least one of the group consisting of the user's ability to pay a second value, a likelihood that the user will deliver purchased goods, an ability of a user to deliver purchased goods according to invoice terms, and an ability of the user to fulfill purchase orders promptly. 
     
     
         23 . A method of transferring value over a wireless network to a user of a transaction system, the method comprising:
 using at least one processor, receiving from the user a request for value;   evaluating the risk involved in providing said value to the user by evaluating information accessible to the transaction system;   selectively approving the request for value based on the evaluating the risk involved; and   responsive to the request being approved, distributing said value to the user over the wireless network.   
     
     
         24 . A system for transferring value to a user of the system, comprising at least one processor configured to:
 receive from the user a request for value;   evaluate the risk involved in providing said value to the user by evaluating information accessible to the transaction system;   selectively approve the request for value based on the evaluating the risk involved; and   responsive to the request being approved, distribute said value to the user.   
     
     
         25 . The system of  claim 24  wherein the information accessible to the transaction system is stored at the transaction system. 
     
     
         26 . The system of  claim 24  wherein the information accessible to the transaction system is stored separated from the transaction system. 
     
     
         27 . The system of  claim 24  wherein said value includes at least one of the group consisting of finds, a line of credit, coupons, and gift certificates. 
     
     
         28 . The system of  claim 24  wherein the value is distributed over a period of time. 
     
     
         29 . The system of  claim 24  wherein the user is a buyer. 
     
     
         30 . The system of  claim 24  wherein the user is a seller. 
     
     
         31 . The system of  claim 24  wherein the evaluating the risk involved further includes using input from one or more third party risk analysis providers to evaluate a level of risk. 
     
     
         32 . The system of  claim 24  wherein the information includes at least one of the group consisting of an item being offered for sale, the location of the user, information on how long the user has been registered with the transaction system, historical business activity of the user within the transaction system, a user classification scheme used in the transaction system, and a peer rating scheme used in the transaction system. 
     
     
         33 . The system of  claim 32  wherein the classification scheme includes feedback from third parties. 
     
     
         34 . The system of  claim 27  wherein the evaluating the risk involved further includes using input from one or more third party risk analysis providers to evaluate a level of risk. 
     
     
         35 . The system of  claim 27  wherein the information includes at least one of the group consisting of an item being offered for sale, the location of the user, information on how long the user has been registered with the transaction system, historical business activity of the user within the transaction system, a user classification scheme used in the transaction system, and a peer rating scheme used in the transaction system. 
     
     
         36 . The system of  claim 35  wherein the user classification scheme includes feedback from third parties. 
     
     
         37 . The system of  claim 32  wherein the historical business activity of the user includes at least one of the group consisting of a number of prior transactions, gross sales, average amount of a sale, mean amount of a sale, and the frequency of sales of an item. 
     
     
         38 . The system of  claim 32  wherein the historical business activity of the user includes comparison of at least one of the group consisting of
 a number of prior transactions of the user, 
 gross sales of the user, 
 average amount of a sale by the user, 
 the mean amount of a sale by the user, 
 the frequency of sales of an item by the user, and 
 a number of sales of an item by the user, 
 
       with at least one of the group consisting of
 a number of prior transactions of a set of users, 
 gross sales of a set of users, 
 average amount of a sale by a set of users, 
 mean amount of a sale by a set of users; 
 the frequency of sales of an item by a set of users, and 
 a number of sales of an item by a set of users. 
 
     
     
         39 . The system of  claim 32  wherein the peer rating scheme includes at least one of the group consisting of third party trust ratings carried out by the transaction system, feedback ratings by participants in transactions on the transaction system, number of recommendation connections of a user, type of recommendation connections of a user, and quality of recommendation connections of a user. 
     
     
         40 . The system of  claim 24  including determining terms of providing said value based on evaluating the risk involved. 
     
     
         41 . The system of  claim 40  wherein the terms include at least one of the group consisting of time of distributing said value, manner of distributing said value, restrictions on distributing said value, restriction on payment instruments used for distributing said value, and an amount of the service fee for distributing said value. 
     
     
         42 . The system of  claim 24  wherein evaluating the risk involved is performed at various stages of distributing said value. 
     
     
         43 . The system of  claim 42  wherein the stages include at least one of the group consisting of the time the user registers with the transaction system, the time the user provides invoice information, and the time said value is distributed to the user. 
     
     
         44 . The system of  claim 24  wherein distributing said value is interrupted or restricted based on the risk involved. 
     
     
         45 . The system of  claim 24  wherein the risk involved includes at least one of the group consisting of the user's ability to pay a second value, a likelihood that the user will deliver purchased goods, an ability of a user to deliver purchased goods according to invoice terms, and an ability of the user to fulfill purchase orders promptly. 
     
     
         46 . A system for transferring value to a user of the system, comprising at east one processor configured to:
 receive from the user a request for value;   evaluate the risk involved in providing said value to the user by evaluating information accessible to the transaction system;   selectively approve the request for value based on the evaluating the risk involved; and   responsive to the request being approved, distribute said value to the user over the wireless network.   
     
     
         47 . A machine-readable storage device having embedded therein a set of instructions when executed by a machine, causes execution of the following operations:
 receiving from the user a request for value;   evaluating the risk involved in providing said value to the user by evaluating info at on accessible to the transaction system;   selectively approving the request for value based on the evaluating the risk involved; and   responsive to the request being approved, distributing said value to the user.   
     
     
         48 . The machine-readable storage device of  claim 47  wherein the information accessible to the transaction system is stored at the transaction system. 
     
     
         49 . The machine-readable storage device of  claim 47  wherein the information accessible to the transaction system is stored separated from the transaction system. 
     
     
         50 . The machine-readable storage device of  claim 47  wherein said value includes at east one of the group consisting of funds, a line of credit, coupons, and gift certificates. 
     
     
         51 . The machine-readable storage device of  claim 47  wherein the value is distributed over a period of time. 
     
     
         52 . The machine-readable storage device of  claim 17  wherein the user is a buyer. 
     
     
         53 . The machine-readable storage device of  claim 47  wherein the user is a seller. 
     
     
         54 . The machine-readable storage device of  claim 47  wherein the evaluating the risk involved further includes using input from one or more third party risk analysis providers to evaluate a level of risk. 
     
     
         55 . The machine-readable storage device of  claim 47  wherein the information includes at least one of the group consisting of an item being offered for sale, the location of the user, information on how long the user has been registered with the transaction system, historical business activity of the user within the transaction system, a user classification scheme used in the transaction system, and a peer rating scheme used in the transaction system. 
     
     
         56 . The machine-readable storage device of  claim 55  wherein the classification scheme includes feedback from third parties. 
     
     
         57 . The machine-readable storage device of  claim 50  wherein the evaluating the risk involved further includes using input from one or more third party risk analysis providers to evaluate a level of risk. 
     
     
         58 . The machine-readable storage device of  claim 50  wherein the information includes at least one of the group consisting of an item being offered for sale, the location of the user, information on how long the user has been registered with the transaction system, historical business activity of the user within the transaction system, a user classification scheme used in the transaction system, and a peer rating scheme used in the transaction system. 
     
     
         59 . The machine-readable storage device of  claim 58  wherein the user classification scheme includes feedback from third parties. 
     
     
         60 . A machine-readable storage device having embedded therein a set of instructions which, when executed by a machine, causes execution of the following operations:
 receiving from the user a request for value;   evaluating the risk involved in providing said value to the user by evaluating information accessible to the transaction system;   selectively approving the request for value based on the evaluating the risk involved; and   responsive to the request being approved, distributing said value to the user over the wireless network.