Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Discount or incentive
Patent
1998-12-04
2000-03-21
Macdonald, Allen R.
Data processing: financial, business practice, management, or co
Automated electrical financial or business practice or...
Discount or incentive
705 26, 705 1, G06F 1900
Patent
active
060413085
ABSTRACT:
A system and method are disclosed for encouraging buyers to submit CPOs to a CPO management system for a desired product. The CPO management system processes each received CPO to determine whether one or more sellers are willing to accept a given CPO. The disclosed CPO management system compensates buyers if the buyer's conditional purchase offer is rejected, or expires before an acceptance is received. If a CPO is rejected by the sellers, or has expired before an acceptance is received, the CPO management system evaluates one or more stored compensation offers to determine if the buyer is eligible for rejection compensation. The compensation offers may optionally require that the conditional purchase offer satisfies one or more additional predefined eligibility criteria. If the predefined criteria is met, the rejection compensation is provided to the buyer. The rejection compensation can include, for example, (i) a cash award, (ii) a prize, or (iii) a coupon or credit that may be redeemed for a discount against future transactions, thereby encouraging future use.
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Hainer, Cathy and Gross
Case T. Scott
Hartmann Tracy
Tedesco Daniel E.
Walker Jay S.
Brandt Jeffrey L.
Caudle Penny
MacDonald Allen R.
priceline.com Incorporated
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