Method and system of range-based floating pricing for electronic transaction
OwnerShuwei Cheninventor
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Abstract
A method and system that allows users to trade items over the Internet with dynamic pricing model is disclosed. The method and system enables a seller to post an item for sale with dynamic pricing settings. The dynamic pricing settings comprise price range, pricing algorithm and price-updating interval Over the item's listing period, the method and system automatically schedule to run the pricing algorithm to update the listing price every price-updating interval and the listing price is floating within the price range. A buyer can place an order on an item and finish the transaction at anytime before the end of the listing period. A buyer can trade directly online or set up an agent to conduct trading on behalf of the buyer.
Claims12
A method for trading items over the Internet, comprising the steps of:
- posting an item information into a computer server by a seller with dynamic pricing settings including price range, pricing algorithm, price-updating interval, and other optional settings;
- updating item price automatically by a computer process on the server following item's dynamic pricing settings;
- placing the order by a buyer or by a buyer agent;
- and confirming the transaction between the seller and the buyer.
A system for trading items over the Internet, comprising:
- means for posting an item information into a computer server by a seller with dynamic pricing settings which comprises:
- price range, pricing algorithm, price-updating interval, and other optional settings;
- means for automatically updating the item price;
- means for placing the order by a buyer or by a buyer agent;
- and means for confirming the transaction between the seller and the buyer.
Dependencies are inferred from the claim text.