System and Method for Pooled Electronic Purchasing

Abstract

A method executable by a computer system for making joint purchases. The preferred embodiment of the present invention enables customers to establish purchase terms, interactively with the server system, which ensure that the correct amount will be raised (i.e. there will be no surplus or shortfall) and that the participants will contribute appropriate amounts to the overall total through the use of various contribution methods. The preferred embodiment uses the mechanism of direct debit pre-authorized payments to ensure there is no value transfer until the purchase terms have been satisfied, and to guarantee access to the promised funds when they required.

Description

CROSS-REFERENCE TO RELATED APPLICATIONS[0001]This application is a continuation of application Ser. No. 10 / 477,920, filed Nov. 18, 2003, that is a national stage application of PCT Application No. PCT / AU02 / 00623 filed May 20, 2002, which claims the benefit of Australian Provisional Application No PR 5133, filed 21 May, 2001.FIELD OF THE INVENTION[0002]The field of the invention is automated joint purchasing. In particular it is a computer implemented system and method for accumulating donations towards a specific gift (as opposed to a gift voucher) using an electronic communications network such as the Internet. This is called Pooled Electronic Purchasing or PEP.BACKGROUND OF THE INVENTION[0003]There are many occasions when people purchase gifts jointly rather than separately. Such purchases are often made for birthdays, weddings and engagements, mothers' and fathers' days, retirements, leavings and goings away, bar mitzvahs and bat mitzvahs etc.[0004]The motivations for making such...

AI Technical Summary

Benefits of technology

"The present invention provides a system and method for Pooled Electronic Purchasing (PEP) that allows for the joint purchase of specific gifts by multiple participants. The system automates the process of identifying the participants, sending them a page with the purchase terms, and receiving their responses. The system keeps track of the payments and ensures that each participant has a unique identifier. The technical effects of the invention include the ability to coordinate the purchase without requiring a single person to lead the group, the assistance of the system in identifying the appropriate gift for each participant, and the ability to provide information and incentives to encourage future purchases."

Problems solved by technology

Thus the difficult and expensive tasks of identifying a potential customer in the vendor's target market, and of mailing promotional items and information have been performed in the time of, and at the expense of, a customer.

Images