Shared Pools for Common Transactions

Abstract

Methods and systems according to one or more embodiments are provided for establishing, managing or using a shared pool between a group of users in connection with one or more common transactions. In an embodiment, a system comprises: one or more processors; and one or more memories adapted to store a plurality of machine-readable instructions which when executed by the one or more processors are adapted to cause the system to: pull funds from one or more members of a shared pool, wherein the shared pool is created between a group of users or members in connection with one or more common transactions, and wherein the funds are pulled according to one or more rules set up by each member for pulling funds from their respective funding sources when the shared pool is selected to be used in connection with the common transaction(s); and process the common transaction(s) using the shared pool.

What is claimed is: 
     
         1 . A system comprising:
 one or more processors; and   one or more memories in communication with the one or more processors and adapted to store a plurality of machine-readable instructions which when executed by the one or more processors are adapted to cause the system to:   pull funds from one or more members of a shared pool, wherein the shared pool is created between a group of users or members in connection with one or more common transactions, and wherein the funds are pulled according to one or more rules set up by each member for pulling funds from their respective funding sources when the shared pool is selected to be used in connection with the common transaction(s); and   process the common transaction(s) using the shared pool.   
     
     
         2 . The system of  claim 1 , wherein the plurality of machine-readable instructions which when executed by the one or more processors are further adapted to cause the system to process the common transaction(s), wherein a first member of the shared pool authorizes a second member of the shared pool to make a payment on behalf of the first member when the shared pool is selected to be used in connection with the common transaction(s). 
     
     
         3 . The system of  claim 1 , wherein the plurality of machine-readable instructions which when executed by the one or more processors are further adapted to cause the system to set up policies governing the shared pool. 
     
     
         4 . The system of  claim 3 , wherein the policies further comprise pulling funds from each member according to predetermined equal or unequal amounts or percentages. 
     
     
         5 . The system of  claim 1 , wherein the plurality of machine-readable instructions which when executed by the one or more processors are further adapted to cause the system to use one or more incentives in connection with processing the common transaction(s) using the shared pool. 
     
     
         6 . The system of  claim 1 , wherein the rules set up by each member of the shared pool further comprise requesting user authorization to pull the funds in connection with the common transaction(s). 
     
     
         7 . The system of  claim 1 , wherein the rules set up by each member further comprise establishing, by each member, a hierarchy of his or her funding sources to be used in connection with the common transaction(s). 
     
     
         8 . The system of  claim 1 , wherein the rules further comprise requesting user authorization prior to processing common transaction(s) above a predetermined threshold. 
     
     
         9 . The system of  claim 1 , wherein the plurality of machine-readable instructions which when executed by the one or more processors are further adapted to cause the system to:
 make a payment in connection with a particular transaction using the shared pool;   after the payment is made using the shared pool, add a new payment participant in connection with the payment made, wherein the new payment participant is an existing member of the shared pool, or the new payment participant is an individual that joined the shared pool after the payment was made.   
     
     
         10 . The system of  claim 1 , wherein the plurality of machine-readable instructions which when executed by the one or more processors are further adapted to cause the system to:
 drop a payment participant when the shared pool is used in connection with a particular transaction, wherein the dropped payment participant, upon being selected to participate in the particular transaction and sent a request for authorizing a payment in connection with the particular transaction: a) does not respond within a configured time period, or b) declines or rejects the particular transaction; and   make an additional payment in connection with the particular transaction to cover a corresponding contribution from the dropped payment participant, wherein the additional payment is made by a member that initiated the payment, or shared by all remaining payment participants, other than the dropped payment participant, wherein the remaining payment participants share an additional payment amount.   
     
     
         11 . The system of  claim 1 , wherein the plurality of machine-readable instructions which when executed by the one or more processors are further adapted to cause the system to receive a selection from a member of the shared pool selecting a subset of the members of the shared pool for making contributions in connection with the transaction(s), wherein the contributions are made from each member of the subset according to predetermined equal or unequal amounts or percentages. 
     
     
         12 . A method comprising:
 pulling funds, by an electronic processor, from one or more members of a shared pool, wherein the shared pool is created between a group of users or members in connection with one or more common transactions, and wherein the funds are pulled according to one or more rules set up by each member for pulling funds from their respective funding sources when the shared pool is selected to be used in connection with the common transaction(s); and   processing the common transaction(s) using the shared pool.   
     
     
         13 . The method of  claim 12 , wherein a first member of the shared pool authorizes a second member of the shared pool to make a payment on behalf of the first member when the shared pool is selected to be used in connection with the common transaction(s). 
     
     
         14 . The method of  claim 12 , further comprising setting up Funding Models including a pull mechanism in connection with the common transaction(s) when using the shared pool. 
     
     
         15 . The method of  claim 12 , further comprising setting up policies governing the shared pool. 
     
     
         16 . The method of  claim 15 , wherein the policies further comprise pulling funds from each member according to predetermined equal or unequal amounts or percentages. 
     
     
         17 . The method of  claim 12 , further comprising receiving a selection from a member of the shared pool selecting a subset of the members of the shared pool for making contributions in connection with the transaction(s), wherein the contributions are made from each member of the subset according to predetermined equal or unequal amounts or percentages. 
     
     
         18 . The method of  claim 12 , wherein the rules set up by each member of the shared pool further comprise at least one of requesting user authorization from a corresponding user to pull the funds in connection with the common transaction(s) and requesting user authorization prior to processing common transaction(s) above a predetermined amount. 
     
     
         19 . The method of  claim 12 , wherein the rules set up by each member further comprise establishing, by each member, a hierarchy of his or her funding sources to be used in connection with the common transaction(s). 
     
     
         20 . A non-transitory computer readable medium on which are stored computer readable instructions and, when executed by a processor, cause the processor to:
 pull funds from one or more members of a shared pool, wherein the shared pool is created between a group of users or members in connection with one or more common transactions, and wherein the funds are pulled according to one or more rules set up by each member for pulling funds from their respective funding sources when the shared pool is selected to be used in connection with the common transaction(s); and   process the common transaction(s) using the shared pool.