System and method for automatically replenishing an electronic payment account

Abstract

The invention provides a computerized electronic auction payment system and method for effecting a real-lime payment for an item won in an electronic auction by setting up and maintaining electronic auction payment accounts for prospective bidders and sellers. In one embodiment, upon being deemed as a winning bidder, the winning bidder accesses a payment page, enters the total amount of funds to be transferred to the seller, and authorizes the computerized electronic auction payment system to effect a real-time payment by debiting his, i.e., the winning bidder's, respective electronic auction payment account and crediting the electronic auction payment account of the seller, and/or another account specified by the seller. In an alternate embodiment, the prospective bidder authorizes the computerized electronic auction payment system to effect a real-time payment to the seller upon the prospective bidder being deemed the winning bidder (i.e., immediately following the conclusion of the auction). That is, without the winning bidder having to access the payment page. Funds can be automatically transferred to the electronic auction payment accounts on a periodic basis and after funds are deducted from the payment accounts to replenish the funds deducted from the payment accounts. A fee can be charged by an operator of the computerized electronic auction payment system for automatically transferring funds to the electronic auction payment accounts and for automatically replenishing the payment accounts.

1 - 54 . (canceled) 
   
   
       55 . A method for automatically replenishing an electronic payment account corresponding to a user of at least one electronic commerce web site, said method comprising the steps of:
 receiving authorization from the user prior to a termination event of an electronic network transaction between the user and at least one other user of the at least one electronic commerce web site to execute an automatic replenishment method after the termination event of the electronic network transaction; and   executing the automatic replenishment method by at least one processor after the termination event of the electronic network transaction, wherein the automatic replenishment method comprises:
 automatically accessing funds from a payment source corresponding to the user of the electronic commerce web site; and 
 automatically transferring at least a portion of said accessed funds to the electronic payment account corresponding to the user. 
   
   
   
       56 . The method according to  claim 55 , further comprising, prior to performing the executing step, determining whether to execute the automatic replenishment method, wherein the determining step comprises:
 determining if the amount of funds stored within the electronic payment account corresponding to the user is less than a pre-defined amount after the termination event of the electronic network transaction; and   determining to perform the automatic replenishment method if the amount of funds stored within the electronic payment account corresponding to the user is less than the pre-defined amount.   
   
   
       57 . The method according to  claim 55 , wherein the payment source is selected from the group consisting of a bank account and a credit card account, and wherein the amount of accessed funds is a pre-defined amount. 
   
   
       58 . The method according to  claim 55 , wherein the step of receiving authorization comprises offering the user an option via a web page to enable an automatic replenishment service capable of performing the automatic replenishment method. 
   
   
       59 . The method according to  claim 55 , wherein the automatic replenishment method further comprises:
 automatically accessing the payment source at least once a during a predetermined interval and accessing funds from the payment source; and   automatically transferring at least a portion of funds accessed during the predetermined interval to the electronic payment account corresponding to the user.   
   
   
       60 . The method according to  claim 59 , wherein the predetermined interval is specified by the user via at least one web page and selected from the group consisting of a day, a week and a month. 
   
   
       61 . The method according to  claim 55 , further comprising:
 receiving authorization from the user to invest the funds transferred to the electronic payment account;   investing the funds in a money market fund if authorization is received from the user; and   periodically adding funds to the electronic payment account corresponding to the user, wherein the added funds reflect at least a portion of interest accrued by investing the funds transferred to the electronic payment account.   
   
   
       62 . The method according to  claim 55 , further comprising:
 determining if there are sufficient funds in the electronic payment account corresponding to the user prior to effecting payment for the electronic network transaction; and   loaning funds to effect payment, if there are not sufficient funds in the electronic payment account corresponding to the user.   
   
   
       63 . A system for automatically replenishing an electronic payment account corresponding to a user of at least one electronic commerce web site, said method comprising the steps of:
 means for receiving authorization from the user prior to a termination event of an electronic network transaction between the user and at least one other user of the at least one electronic commerce web site to execute an automatic replenishment method after the termination event of the electronic network transaction; and   means for executing the automatic replenishment method after the termination event of the electronic network transaction, wherein the automatic replenishment method comprises:
 automatically accessing funds from a payment source corresponding to the user of the electronic commerce web site; and 
 automatically transferring at least a portion of said accessed funds to the electronic payment account corresponding to the user. 
   
   
   
       64 . The system according to  claim 63 , further comprising means for determining whether to execute the automatic replenishment method, wherein the means for determining comprises:
 means for determining if the amount of funds stored within the electronic payment account corresponding to the user is less than a pre-defined amount after the termination event of the electronic network transaction; and   means for determining to perform the automatic replenishment method if the amount of funds stored within the electronic payment account corresponding to the user is less than the pre-defined amount.   
   
   
       65 . The system according to  claim 63 , wherein the payment source is selected from the group consisting of a bank account and a credit card account, and wherein the amount of accessed funds is a pre-defined amount. 
   
   
       66 . The system according to  claim 63 , wherein the means for receiving authorization comprises means for offering the user an option via a web page to enable an automatic replenishment service capable of performing the automatic replenishment method. 
   
   
       67 . The system according to  claim 63 , wherein the automatic replenishment method further comprises:
 automatically accessing the payment source at least once a during a predetermined interval and accessing funds from the payment source; and   automatically transferring at least a portion of funds accessed during the predetermined interval to the electronic payment account corresponding to the user.   
   
   
       68 . The system according to  claim 67 , wherein the predetermined interval is specified by the user via at least one web page, and wherein the predetermined interval is selected from the group consisting of a day, a week and a month. 
   
   
       69 . The system according to  claim 63 , further comprising:
 means for receiving authorization from the user to invest the funds transferred to the electronic payment account;   means for investing the funds transferred to the electronic payment account corresponding if authorization is received from the user; and   means for periodically adding funds to the electronic payment account corresponding to the user, wherein the added funds reflect at least a portion of interest accrued by investing the funds transferred to the electronic payment account.   
   
   
       70 . The system according to  claim 63 , further comprising:
 means for determining if there are sufficient funds in the electronic payment account corresponding to the user prior to effecting payment for the electronic network transaction; and   means for loaning funds to effect payment, if there are not sufficient funds in the electronic payment account corresponding to the user.   
   
   
       71 . A method for automatically replenishing an electronic payment account corresponding to a user of at least one electronic commerce web site, said method comprising the steps of:
 receiving authorization from the user to execute an automatic replenishment method by at least one processor during a predetermined interval; and   executing the automatic replenishment method by the at least one processor during the predetermined interval, wherein the automatic replenishment method comprises:
 automatically accessing funds from a payment source corresponding to the user of the electronic commerce web site; and 
 automatically transferring at least a portion of said accessed funds to the electronic payment account corresponding to the user. 
   
   
   
       72 . The method according to  claim 71 , wherein the payment source is selected from the group consisting of a bank account and a credit card account, and wherein the amount of accessed funds is a pre-defined amount. 
   
   
       73 . The method according to  claim 71 , wherein the step of receiving authorization comprises offering the user an option via a web page to enable an automatic replenishment service capable of performing the automatic replenishment method. 
   
   
       74 . The method according to  claim 71 , wherein the automatic replenishment method further comprises:
 determining if the amount of funds stored within the electronic payment account corresponding to the user is less than a pre-defined amount after a termination event of an electronic network transaction;   automatically accessing funds from the payment source corresponding to the user of the electronic commerce web site if the amount of funds stored within the electronic payment account is less than the pre-defined amount; and   automatically transferring at least a portion of said accessed funds from the previous step to the electronic payment account corresponding to the user.   
   
   
       75 . The method according to  claim 71 , wherein the predetermined interval is specified by the user via at least one web page, and wherein the predetermined interval is selected from the group consisting of a day, a week and a month. 
   
   
       76 . The method according to  claim 71 , further comprising:
 receiving authorization from the user to invest the funds transferred to the electronic payment account;   investing the funds in a money market fund if authorization is received from the user; and   periodically adding funds to the electronic payment account corresponding to the user, wherein the added funds reflect at least a portion of interest accrued by investing the funds transferred to the electronic payment account.   
   
   
       77 . The method according to  claim 71 , further comprising:
 determining if there are sufficient funds in the electronic payment account corresponding to the user prior to effecting payment for an electronic network transaction; and   loaning funds to effect payment, if there are not sufficient funds in the electronic payment account corresponding to the user of the at least one electronic commerce web site.   
   
   
       78 . A system for automatically replenishing an electronic payment account corresponding to a user of at least one electronic commerce web site, said system comprising:
 means for receiving authorization from the user to execute an automatic replenishment method during a predetermined interval; and   means for executing the automatic replenishment method during the predetermined interval, wherein the automatic replenishment method comprises:
 automatically accessing funds from a payment source corresponding to the user of the electronic commerce web site; and 
 automatically transferring at least a portion of said accessed funds to the electronic payment account corresponding to the user. 
   
   
   
       79 . The system according to  claim 78 , wherein the payment source is selected from the group consisting of a bank account and a credit card account, and wherein the amount of accessed funds is a pre-defined amount. 
   
   
       80 . The system according to  claim 78 , wherein the means for receiving authorization comprises means for offering the user an option via a web page to enable an automatic replenishment service capable of performing the automatic replenishment method. 
   
   
       81 . The system according to  claim 78 , wherein the automatic replenishment method further comprises:
 determining if the amount of funds stored within the electronic payment account corresponding to the user is less than a pre-defined amount after a termination event of an electronic network transaction;   automatically accessing funds from the payment source corresponding to the user of the electronic commerce web site if the amount of funds stored within the electronic payment account is less than the pre-defined amount; and   automatically transferring at least a portion of said accessed funds from the previous step to the electronic payment account corresponding to the user.   
   
   
       82 . The system according to  claim 78 , wherein the predetermined interval is specified by the user via at least one web page, and wherein the predetermined interval is selected from the group consisting of a day, a week and a month. 
   
   
       83 . The system according to  claim 78 , further comprising:
 means for receiving authorization from the user to invest the funds transferred to the electronic payment account;   means for investing the funds transferred to the electronic payment account corresponding if authorization is received from the user; and   means for periodically adding funds to the electronic payment account corresponding to the user, wherein the added funds reflect at least a portion of interest accrued by investing the funds transferred to the electronic payment account.   
   
   
       84 . The system according to  claim 78 , further comprising:
 means for determining if there are sufficient funds in the electronic payment account corresponding to the user prior to effecting payment for the electronic network transaction; and   means for loaning funds to effect payment, if there are not sufficient funds in the electronic payment account corresponding to the user.   
   
   
       85 . In an integrated electronic commerce and payment system, a method for automatically replenishing an electronic payment account corresponding to a user of at least one electronic commerce web site maintained by said integrated system and effecting payment using said electronic payment account, said method comprising the steps of:
 maintaining an electronic database of a plurality of electronic payment accounts corresponding to a plurality of users, including the user, of said electronic commerce web site and a payment segment of said electronic commerce web site by said integrated system, each of said plurality of electronic payment accounts storing funds therein and each capable of being used for electronic network transactions;   executing an automatic replenishment method by the at least one processor, wherein the automatic replenishment method comprises:
 automatically accessing funds from a payment source corresponding to the user of the electronic commerce web site; and 
 automatically transferring at least a portion of said accessed funds to the electronic payment account corresponding to the user; 
   performing at least one payment-related activity by the at least one processor of said integrated system for effecting payment for said user, said at least one payment-related activity selected from the group consisting of debiting the electronic payment account corresponding to the user and maintained by said integrated system, and withdrawing funds from at least one account storing funds therein and not corresponding to at least one of the plurality of users; and   crediting by the at least one processor at least one account corresponding to another user to effect payment.   
   
   
       86 . The method according to  claim 85 , further comprising, prior to performing the executing step, determining whether to execute the automatic replenishment method, wherein the determining step comprises:
 determining if the amount of funds stored within the electronic payment account corresponding to the user is less than a pre-defined amount; and   determining to perform the automatic replenishment method if the amount of funds stored within the electronic payment account corresponding to the user is less than the pre-defined amount.   
   
   
       87 . The method according to  claim 85 , wherein the payment source is selected from the group consisting of a bank account and a credit card account, and wherein the amount of accessed funds is a pre-defined amount. 
   
   
       88 . The method according to  claim 85 , wherein the automatic replenishment method further comprises:
 automatically accessing the payment source at least once a during a predetermined interval and accessing funds from the payment source; and   automatically transferring at least a portion of funds accessed during the predetermined interval to the electronic payment account corresponding to the user.   
   
   
       89 . The method according to  claim 88 , wherein the predetermined interval is specified by the user via at least one web page, and wherein the predetermined interval is selected from the group consisting of a day, a week and a month. 
   
   
       90 . An integrated electronic commerce and payment system comprising:
 an electronic database of a plurality of electronic payment accounts corresponding to a plurality of users of an electronic commerce web site, each of said plurality of electronic payment accounts storing funds therein and each capable of being used for electronic network transactions;   executing an automatic replenishment method by the at least one processor, wherein the automatic replenishment method comprises:
 automatically accessing funds from a payment source corresponding to a user of the electronic commerce web site; and 
 automatically transferring at least a portion of said accessed funds to an electronic payment account corresponding to the user; 
   performing at least one payment-related activity by the at least one processor of said integrated system for effecting payment for said user, said at least one payment-related activity selected from the group consisting of debiting the electronic payment account corresponding to the user, and withdrawing funds from at least one account storing funds therein and not corresponding to at least one of the plurality of users; and   crediting by the at least one processor at least one account corresponding to another user to effect payment.   
   
   
       91 . The system according to  claim 90 , further comprising means for determining whether to execute the automatic replenishment method, wherein the means for determining comprises:
 means for determining if the amount of funds stored within the electronic payment account corresponding to the user is less than a pre-defined amount; and   means for determining to perform the automatic replenishment method if the amount of funds stored within the electronic payment account corresponding to the user is less than the pre-defined amount.   
   
   
       92 . The system according to  claim 90 , wherein the payment source is selected from the group consisting of a bank account and a credit card account, and wherein the amount of accessed funds is a pre-defined amount. 
   
   
       93 . The system according to  claim 90 , wherein the automatic replenishment method further comprises:
 automatically accessing the payment source at least once a during a predetermined interval and accessing funds from the payment source; and   automatically transferring at least a portion of funds accessed during the predetermined interval to the electronic payment account corresponding to the user.   
   
   
       94 . The system according to  claim 93 , wherein the predetermined interval is specified by the user via at least one web page, and wherein the predetermined interval is selected from the group consisting of a day, a week and a month. 
   
   
       95 . An automatic replenishment method comprising the steps of:
 automatically accessing funds from a payment source corresponding to a user of an electronic commerce web site; and   automatically transferring at least a portion of said accessed funds to an electronic payment account corresponding to the user, said electronic payment account storing funds therein and capable of being used for electronic network transactions associated with the electronic commerce web site;   wherein the funds are automatically accessed if the amount of funds stored within the electronic payment account corresponding to the user is less than a pre-defined amount.   
   
   
       96 . A system comprising at least one processor for executing an automatic replenishment method comprising the steps of:
 automatically accessing funds from a payment source corresponding to a user of an electronic commerce web site; and   automatically transferring at least a portion of said accessed funds to an electronic payment account corresponding to the user, said electronic payment account storing funds therein and capable of being used for electronic network transactions associated with the electronic commerce web site;   wherein the funds are automatically accessed if the amount of funds stored within the electronic payment account corresponding to the user is less than a pre-defined amount.   
   
   
       97 . An automatic replenishment method comprising the steps of:
 automatically accessing funds from a payment source corresponding to a user of an electronic commerce web site; and   automatically transferring at least a portion of said accessed funds to an electronic payment account corresponding to the user, said electronic payment account storing funds therein and capable of being used for electronic network transactions associated with the electronic commerce web site;   wherein the funds are automatically accessed at least once a during a predetermined interval.   
   
   
       98 . The method according to  claim 96 , wherein the predetermined interval is specified by the user via at least one web page, and wherein the predetermined interval is selected from the group consisting of a day, a week and a month. 
   
   
       99 . A system comprising at least one processor for executing an automatic replenishment method comprising the steps of:
 automatically accessing funds from a payment source corresponding to a user of an electronic commerce web site; and   automatically transferring at least a portion of said accessed funds to an electronic payment account corresponding to the user, said electronic payment account storing funds therein and capable of being used for electronic network transactions associated with the electronic commerce web site;   wherein the funds are automatically accessed at least once a during a predetermined interval.   
   
   
       100 . The system according to  claim 99 , wherein the predetermined interval is specified by the user via at least one web page, and wherein the predetermined interval is selected from the group consisting of a day, a week and a month.