WO2014055079A1 - Electronic auctions over mobile communication networks - Google Patents

Electronic auctions over mobile communication networks Download PDF

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Publication number
WO2014055079A1
WO2014055079A1 PCT/US2012/058723 US2012058723W WO2014055079A1 WO 2014055079 A1 WO2014055079 A1 WO 2014055079A1 US 2012058723 W US2012058723 W US 2012058723W WO 2014055079 A1 WO2014055079 A1 WO 2014055079A1
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WIPO (PCT)
Prior art keywords
mobile
seller
subscribing
escrow
buyer
Prior art date
Application number
PCT/US2012/058723
Other languages
French (fr)
Inventor
Bradley Richard JONES
Original Assignee
Visa International Service Association
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Publication date
Application filed by Visa International Service Association filed Critical Visa International Service Association
Priority to PCT/US2012/058723 priority Critical patent/WO2014055079A1/en
Publication of WO2014055079A1 publication Critical patent/WO2014055079A1/en

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    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q30/00—Commerce
    • G06Q30/06—Buying, selling or leasing transactions
    • G06Q30/08—Auctions

Abstract

Embodiments of the invention provide systems and methods for using a mobile money platform to enable users to auction items by broadcasting offer messages over wireless communication networks and receiving back bid messages from other users, and to settle purchase transactions by transferring money between users' mobile money accounts. Embodiments further provide systems and methods for using a mobile money platform to provide an escrow feature for auction transactions. For example, the mobile money platform escrows money from a buyer's mobile money account and, upon receiving the buyer's approval, releases the escrowed money to the seller's mobile money account. The buyer may send such approval upon receiving satisfactory delivery of the items, and the approval may be given by sending an approval message over wireless communication networks to the mobile money platform.

Description

BACKGROUND
[0001] Many people living in developing countries do not have access to financial services provided by traditiona! financial institutions. Such services include deposit accounts, checking accounts, credit cards, etc. These people are often referred to as "the unbanked" and they primarily rely on in-person cash and barter transactions when buying, selling, or trading goods.
[0002] Also, many people living in developing countries do not have internet access and therefore cannot buy and sell via internet-based auctions. Even those who do have internet access cannot participate in internet-based auctions because they do not have deposit accounts, checking accounts, or credit cards, and therefore cannot send or receive money online. Thus, buyers and sellers in developing countries must meet in-person, such as at markets.
[0003] For example, a fisherman in a developing country, just after returning from sea with a iarge catch, has to transport his catch to a local market, where he will offer it for sale, This has several disadvantages. Oftentimes, significant time and resources are required to transport the catch to the market. The fisherman may have to transport a large catch !ong distances. Also, once at the market, the fisherman can only offer to sell his catch to buyers who happen to be at the market, and thus the fisherman is limited to the going rate at that particular market at that time. The fisherman may be able to sell at higher prices if he were able to advertise his catch to and remotely transact with a larger number of buyers across various geographical locations.
|0004] Likewise, a purchaser who lives in a developing country and who is interested in buying fish has to travel to a market, and then transport the fish back from the market. This has disadvantages, such as the amount of time and resources required to travel to the market and haul back purchased fish, as well as being limited to the selection of fish and prices at that particular market. A purchaser may be able to obtain better quality fish and/or better prices if he were able to choose from a !arger number of fishermen across various markets and locations.
[0S05] Embodiments of the invention address the above problems, and other problems, individually and collectively.
BRIEF SUMMARY
[0006] To fill the void left by traditional financial institutions, mobile money systems are being designed and offered to provide financial services to the unbanked in developing countries. Some of these mobile money systems are configured to work with limited functionality cellular telephones to provide financial services, such as money transfers between users. For example, in these systems, cellular telephones are provided with subscriber identity module (SIM) cards having applications stored thereon. The processors of the cellular telephones execute the applications to provide users with a menu of controls and to send corresponding transaction messages across cellular networks, between telephones and mobile money platforms, which are often hosted by mobile network operators (" NOs"). Oftentimes, in these mobile money systems, agents such as individuals who work at retail locations for MNOs and other non-banking locations redeem cash for electronic money and vice versa. Thus, participating individuals can deposit and withdraw cash to and from their mobile money accounts at these brick-and-rnortar agent locations and they can use their cellular telephones to electronically transfer money to and from mobile money accounts of other cellular telephone users.
[0007] Embodiments of the invention provide systems and methods for using such mobile money systems to create mobile auctions. According to embodiments, mobile money platforms are used to publish offer messages to user mobiie devices over wireless communication networks and receive back bid messages from the users, and to settle purchase transactions by transferring money between users' mobile money accounts. Thus, rather than transporting a large catch of fish to a market, a fisherman in a developing country can use the mobile money platform to advertise and sell his fish to multiple buyers in multiple geographic locations.
[0008] Embodiments further provide systems and methods for using a mobile money platform to provide an escrow feature for auction transactions. For example, the mobile money platform escrows money from a buyer's mobile money account and, upon receiving the buyer's approval, releases the escrowed money to the seller's mobile money account. The buyer may send such approval upon receiving satisfactory delivery of the items, and the approval may be given by sending an approval message over wireless communication networks to the mobile money platform.
[G0G9J One embodiment of the invention is directed to a method comprising receiving, at a mobile money platform, an offer to sell goods or services, the offer being received via a message transmitted over a mobile communications network from a mobile device of a seller; publishing, by the mobile money platform, the offer to a plurality of subscribing buyers by sending a message comprising the offer over the mobile communications network to the mobile devices of the subscribing buyers; receiving, at the mobile money platform, one or more bids from one or more of the subscribing buyers, the one or more bids being received via one or more messages transmitted over the mobile communications network from the mobile devices of the one or more subscribing buyers; sending, from the mobile money platform, the one or more bids to the seller, the one or more bids being sent via one or more messages transmitted over the mobile communications network to the mobile device of the seller; receiving, at the mobile money platform, an indication of a selected bid, the indication of the selected bid being received via a message transmitted over the mobile communications network from the mobile device of the seller, the selected bid comprising a purchase price and being seiected by the seller from among the one or more bids; transferring, by the mobile money platform, an amount equal to the purchase price provided in the selected bid from a mobile money account of the subscribing buyer that submitted the selected bid to an escrow account; creating, by the mobile money platform, an escrow token representative of the purchase amount being held in the escrow account sending, from the mobile money platform, the escrow token to the subscribing buyer that submitted the selected bid, the escrow token being sent via a message transmitted over the mobile communications network to the mobile device of the subscribing buyer that submitted the selected bid; and upon receiving the escrow token back from the subscribing buyer that submitted the seiected bid, transmitting, by the mobile money platform, a release message to the financial institution that holds the financial account of the subscribing buyer that submitted the selected bid, the release message instructing the financial institution to transfer the purchase amount from the escrow account to the financial account of the seller, wherein the subscribing buyer that submitted the selected bid sends the escrow token back to the mobile money platform upon satisfactory receipt of the goods or services.
[0010] Another embodiment of the invention is directed to a mobile money platform comprising a processor, and a computer readable medium coupled to the processor, the computer readable medium comprising code for implementing a method comprising: receiving an offer to sell goods or services, the offer being received via a message transmitted over a mobiie communications network from a mobiie device of a seller; publishing the offer to a plurality of subscribing buyers; receiving one or more bids from one or more of the subscribing buyers; sending the one or more bids to the seller, the one or more bids being sent via one or more messages transmitted over the mobile communications network to the mobiie device of the seller; receiving an indication of a selected bid, the indication of the selected bid being received via a message transmitted over the mobile communications network from the mobiie device of the seller, the selected bid comprising a purchase price and being selected by the seller from among the one or more bids; transferring a purchase amount from a mobiie money account of a subscribing buyer that submitted the selected bid to an escrow account, the escrowed purchase amount being equal to the purchase price provided in the selected bid; creating an escrow token representative of the purchase amount being held in the escrow account; sending the escrow token to the subscribing buyer that submitted the selected bid, the escrow token being sent via a message transmitted over the mobile
communications network to the mobiie device of the subscribing buyer thai submitted the selected bid; and transferring the purchase amount from the escrow account to a mobile money account of the seller upon receiving the escrow token back from the subscribing buyer that submitted the selected bid, the subscribing buyer that submitted the selected bid sending the escrow token back to the mobile money platform upon satisfactory receipt of the goods or services.
[0011] Another embodiment of the invention is directed to a method for receiving, at a mobile money platform, an offer from a seller, the offer being an offer to sell goods or services transmitted to the mobile money platform in a message sent via a mobile communications network from a mobile device of the seller; publishing, by the mobile money platform, the offer to one or more subscribing buyers; receiving, at the mobile money platform, one or more bids from the one or more subscribing buyers; obtaining, by the mobile money pfatform, a selected bid from among the one or more bids; transferring, by the mobiie money platform, a purchase amount from a mobile money account of a subscribing buyer that submitted the selected bid to an escrow account, the purchase amount equal to a purchase price provided in the selected bid; creating an escrow token representative of the purchase amount being held in the escrow account; sending the escrow token to the subscribing buyer that submitted the selected bid, the escrow token being sent via a message transmitted over the mobile communications network to the mobile device of the subscribing buyer that submitted the selected bid: and transferring the purchase amount from the escrow account to a mobile money account of the seiler upon receiving the escrow token back from the subscribing buyer that submitted the selected bid, the subscribing buyer that submitted the selected bid sending the escrow token back to the mobile money platform upon satisfactory receipt of the goods or services.
[G012J These and other embodiments of the invention are described in further detail below with reference to the Figures and the Detailed Description.
BRIEF DESCRIPTION OF THE DRAWINGS
[0013] FIGS. 1 (A)-(C) show diagrams of a mobile money system facilitating a mobile auction according to embodiments of the invention.
[0014] FUG, 2 shows a system diagram Illustrating aspects of a mobile money system according to embodiments of the invention.
[0015] F!G. 3 shows an example mobile device according to embodiments of the Invention.
[0Q18] FIG. 4 shows example screen shots of interfaces provided by a mobile money application according to embodiments of the Invention.
[0017] F!G, β shows a block diagram of components of a mobile money platform according to embodiments of the invention.
[0018] FIG. β shows a flowchart iilustrating an example process of facilitating a mobile auction according to embodiments of the invention.
[0019] F!G. 7 shows a flowchart illustrating an example process of selecting a winning bid in a mobile auction according to embodiments of the invention.
[0020] FUG. 8 shows a flowchart illustrating an example process of facilitating selection of a winning bid In a mobile auction according to embodiments of the invention. [0021] FIGS, 9(A)-(E) show example screen shots of interfaces provided by a mobile money application according to embodiments of the invention.
[0022] FIG. 10 shows an example mobile device according to embodiments of the invention.
[0023] FIG. 11 shows a block diagram of an example computer apparatus according to embodiments of the invention.
DETAILED DESCRIPTION
[0024] Embodiments of the invention provide systems and methods for using a mobile money platform to enable users to auction items by broadcasting offer messages over wireless communication networks and receiving back bid messages from other users, and to settle purchase transactions by transferring money between users' mobile money accounts. Embodiments further provide systems and methods for using a mobile money platform to provide an escrow feature for auction transactions. For example, the mobile money platform escrows money from a buyer's mobile money account and, upon receiving the buyer's approval, releases the escrowed money to the seller's mobile money account. The buyer may send such approval upon receiving satisfactory delivery of the items, and the approval may be given by sending an approval message over wireless communication networks to the mobile money platform.
[0025] An example will now be provided to illustrate operation of an embodiment of the invention, in this example, a mobile money platform (e.g., FUNDAMO ENTERPRISE EDITION) receives an offer message from a seller, where the message contains an offer to sell an item. The seller may be any individual or entity that has a mobile money account associated with the mobile money platform. The message could be a multimedia messaging service (MMS) message sent from a cellular telephone over a wireless network that includes a photograph and brief text description of the item for sale. The message could also be sent from the seller's cellular telephone to the mobile money platform via unstructured supplementary service data (USSD) or by short message service (SMS), or other suitable message formats and protocols.
[0026] According to this example, upon receiving the offer message from the seller, the mobile money platform publishes the offer by forwarding the offer message (e.g., via MMS, SMS, USSD) to users whose profile settings indicate they
8 wish to receive such offers. For example, through their mobile money account settings, users can opt to receive auction offers and provide subscription data used by the mobile money platform to determine which offers to send to the user.
Subscription data includes data fie!ds such as price, item description, item category, seller location, seller rating, etc.
[0027] Users who receive the offer and who wish to bid on the item can do so by replying (e.g., via M S, SMS, USSD) to the mobile money platform with a bid price. In some embodiments, the mobile money platform automatically selects the winning bid by evaluating the bids against the seller's preselected bid-selection criteria, such as bid price, bidder location, bidder rating, bidder name, etc. in other embodiments, instead of automatically selecting the winning bid, the mobile money platform forwards the bid messages (e.g., via MMS, SMS, USSD) to the seller, and the seller manually selects the winning bid.
[0028] After selection of the winning bid, the mobile money platform escrows purchase money from the winning bidder's mobile money account and assigns a token to the escrowed money. The mobile money platform then sends the seller a message (e.g., via MMS, SMS, USSD) containing the winning bidder's identifying Information {e.g., the Mobile Subscriber integrated Services Digital Network-Number (MSISDN) or the telephone number associated with winning bidder's telephone) and notice that the purchase money has been escrowed. Also, the mobile money platform sends the winning bidder a message (e.g., via MMS, SMS, USSD) containing the seller's identifying information (e.g., MSISDN of sellers phone) and a copy of the token. The seller and winning bidder can use the identifying information to contact each other and arrange tor delivery of the item. Once the item has been delivered and the winning bidder Is satisfied, the winning bidder sends (e.g., via MMS, SMS, USSD) the token back to the mobile money platform, which then releases the purchase money from escrow to the seller's mobile money account. The mobile money platform then sends a confirmation message to the seller.
[0029] Prior to discussing embodiments of the invention, descriptions of some terms may be helpful n understanding embodiments of the invention.
[0030] The term "mobile device" may refer to a device suitable for communication over a network. A mobile device may, for example, communicate with a mobile money platform and other mobile devices via a mobile communications network. A mobile device may be provided in any suitable form. For example, suitable devices can be hand-held, compact, mobile, and enabled to communicate over a network interface, and may have an associated device identifier (e.g., mobile phone number). Examples of devices include wireless and cellular telephones, PDAs, personal computers (PCs), tablets, and the like. Mobile devices may aiso be referenced herein as portable devices or cellular telephones.
[0031] The term "mobile money platform" may include a network of suitable software programs and processing entities (e.g., computers) that can have the ability to generate messages, route messages, access data processing systems to allow users to use mobile devices, such as ceiiular phones, to deposit, withdraw, and transfer money between mobile money accounts.
[0032] The mobile money platform may have or operate at least a server computer and may include a database. The database may include any hardware, software, firmware, or combination of the preceding for storing and facilitating retrieval of information, in addition, the database may use any of a variety of data structures, arrangements, and compilations to store and facilitate retrieval of information. The server computer may be coupled to the database and may include any hardware, software, other logic, or combination of the preceding for servicing the requests from one or more client computers. The server computer may comprise one or more computational apparatuses and may use any of a variety of computing structures, arrangements, and compilations for servicing the requests from one or more client computers.
[0033] The term "mobile money account" may refer to an account associated with an individual, such as a buyer or seller, !n some embodiments, a mobile money account is managed by a mobile money platform. Mobile money accounts may be linked to a mobile device of an individual, which enables the individual to perform actions on their mobile money account via their mobile device.
[G034] The. term "seller" may refer to an individual or entity that is to receive monetary funds for a transaction. In typical transactions, the seller is a merchant who provides goods or services in exchange for monetary funds. The seller may further generate an offer to sell goods or services that is sent to the mobile money payment for publishing to appropriate subscribing buyers. [0035] The term "offer message" may be a message containing an offer to sell goods or services. An offer message may be sent by a seller using a mobile device to a mobile money platform over a mobile communications network. The mobile money platform may further send offer messages to one or more mobile devices associated with one or more subscribing buyers. The offer message may be comprised of, but the not limited to, description of goods or services offered for sale, quantity and/or weight of the goods or services offered for sale, location of the goods or services offered for sale, location of the seller, seller code, and an initial price (e.g. , starting bid amount). The offer message may also comprise an image or other visual data file depicting the goods or services offered for sale. The offer message may be sent over the mobile communications network in any appropriate messaging format by any appropriate messaging means. In some embodiments, the offer message may be sent by SMS, MMS, or U88D messaging.
[0036] The term "subscribing buyer" may refer to an individual or entity that opts to receive offer messages. In some embodiments, subscribing buyers can designate which offers they wish to receive by preselecting criteria such as price, item description, seller Iocation, seller rating, etc. Subscribing buyers are also referred to herein as buyers and bidders.
[0037] The term "bids" may refer to offers from a subscribing buyer for the purchase of goods or seances. For example, bids may refer to one or more offers from one or more of a plurality of subscribing buyers for the purchase of a good or service offered by a seller. Bids may be included in a bid message and sent over mobile communication networks, such as by SMS, MMS, or USSD messaging.
[0038] The term "publishing" may refer to sending of data by the mobile money platform. For example, the mobile money platform, after receiving an offer message from a seller may publish the offer by electronically sending the offer in a message (e.g., via SMS, MMS, USSD) over wireless communication networks to the mobile devices of a plurality of subscribing buyers.
[0039] The term "seller code" may refer to a sequence of numbers and/or letters uniquely identifying a seller. The seller code may be a unique sequence that is representative of a seller, a seller's mobile device, and/or a mobile money account associated with the seller. In other embodiments, the seller code may be representative of other data associated with a seller, in some embodiments, each of the one or more offer messages from the seller may comprise a seller code uniquely identifying the seller offering the goods or services. Similarly, each of the offer messages sent from the mobile money platform to the subscribing buyers may include the seller code, in embodiments, subscribing buyers include the seller codes in bid messages and. when the mobile money platform receives the bid messages, the mobile money platform uses the seller codes to route and/or associate the bids to the appropriate seller.
[0040] The term "buyer code" may refer to a sequence of numbers and/or letters uniquely identifying a buyer, such as a subscribing buyer who is bidding for or who won the bid for an item being sold by a seller. The buyer code may be a unique sequence that is representative of a buyer, a buyer's mobile device, and/or a mobile money account associated with the buyer, In other embodiments, the buyer code may be representative of other data associated with a buyer. In some embodiments, each of the one or more bids from each of the one or more subscribing buyers may comprise a buyer code uniquely identifying each of the one or more subscribing buyers. The buyer code can be further utilized by the mobife money platform in automatically selecting a winning bid from among the one or more bids. The buyer code may also be used by the seller in selecting the winning bid from among the one or more bids.
[0041] The term "selection message" may be a message sent to a subscribing buyer indicating the subscribing buyer submitted the winning bid for an offer to sell goods or services. A selection message may be sent by a seller using a mobile device over a mobile communications network, it should also be appreciated that the mobile money platform may send the selection message. The selection message may be comprised of, but the not limited to, description, quantity, and/or location of the goods or services being sold, location of the seller, seller code, buyer code, a purchase price, and a seller mobile money account identifier. The selection message may also comprise an image or other visual data file depicting the goods or services. The selection message may be sent over the mobile communications network in any appropriate messaging format by any appropriate messaging means. In some embodiments, the selection message may be sent by SMS, MMS. or USSD messaging. [0042] The term "purchase amount" may refer to an agreed amount for the purchase of a good or service, and may include any suitable type of vaiue including dollars, Euros, virtual currency, etc.
[0043] The term "escrow" may refer to an account controlled by an independent third party. Purchase money for a transaction may be placed in escrow and held there until the buyer indicates satisfactory receipt of the goods or services, in some embodiment, the mobile money platform is the independent third party that takes control of the money. When one or both of the buyer and/or seller verify the transaction has been completed to satisfaction, the money is released from escrow to the mobile money account of the seller.
[0044] The term "escrowed money" may refer to money that has been placed in escrow.
[0045] The term "escrow token" may be a string of characters that represents escrowed money for a transaction, For example, upon a buyer and seller entering a contract and the mobile money platform escrowing a purchase amount from the mobile money account of the buyer, the mobile money platform generates a token representative of the escrowed purchase amount. This token is referred to herein as an escrow token or token. According to embodiments, the mobile money platform sends the escrow token in a message (e.g., SMS, M S, USSD) over wireless communication networks to the mobile device of the buyer. When the buyer has received the goods or service from the seller, the buyer then sends back to the mobile money platform the escrow token in a message sent over wireless communication networks. The mobile money platform processes the escrow token to identify the escrowed money for the transaction in question, and then releases the escrowed money to the seller's mobile money account.
[0046] The term "subscription data" may refer to data submitted by a subscribing buyer indicating preferences. In embodiments, each of one or more subscribing buyers may provide subscription data to the mobile money platform indicating the goods or services each of the one or more subscribing buyers wishes to receive offer messages for. For example, one subscribing buyer may be interested in receiving offer messages for fruits and vegetables, another subscribing buyer may be interested in receiving only offers messages for fish, while another subscribing buyer may be interested in receiving all offer messages from sellers in a particular location. Other types of data comprising subscription data may include, but are not limited to: location data, price settings, selier codes, and seller mobile money account information. Subscription data may be provided from tine buyer via a mobile device in communication with the mobile money platform via a mobile communications network. The subscription data may be stored and accessed by the mobile money platform.
[0047] The term "seller criteria" may refer to rules and settings established by a seller. In embodiments, a seller may establish certain seller criteria that the mobile money platform uses to automatically select a winning bid on behalf of a selier The seller may provide preference data for selecting bids., such as a list of preferred buyers, location data, price requirements and thresholds, and other data. For example, in embodiments where the winning bid is automatically selected by the mobile money platform, the selier may provide criteria indicating that if a bid is received from a preferred buyer, or if a bid exceeds a certain threshold value, that particular bid should be selected as a winning bid. Seller criteria may be provided by the seller using a mobile device in communication with the mobile money platform via a mobile communications network. The seller criteria data may be stored and accessed by the mobile money platform.
[0048] The term "obtaining the selected bid" may refer to the method of obtaining a winning bid from a pluraiity of bids received from a plurality of subscribing buyers, in some embodiments of the invention, once the bids from the plurality of subscribing buyers are received by the mobile money platform, the mobile money platform automatically determines a selected, or winning, bid based on the seller criteria provided by the seller. For example, the seller may have provided criteria on distance, pricing, or preferred buyers. The mobile money platform can evaluate the bids against the seller's criteria and automatically select a winning bid without requiring action by the seller, in other embodiments of the invention, once the mobile money platform receives the bids from the plurality of subscribing buyers, the mobile money platform sends the bids to the seller. The bids may be sent to the buyer in a message transmitted over a mobile communications network. The seller may receive the bids at the seiier's mobile device, and the selier may then choose a winning bid from the bids. The seller may then send a message to the mobile money platform indicating the selected or winning bid. In embodiments of the claimed invention, the message from the seller may coniain at least the unique buyer code of the subscribing buyer thai submitted the selected bid.
|0049] The term "transferring the purchase amount"' may refer to transferring money from one account to another. In some embodiments, transferring a purchase amount (or transferring of funds) is part of a process where the mobile money platform transfers money from one mobiie money account to another, such as from the mobiie money account of a buyer to escrow and then to the mobile money account of a seller, or such as from the mobile money account of a buyer to the mobile money account of a selle In embodiments of the invention, the transfer of funds is conducted by eiectronicaliy debiting money from a mobile money account of the buyer and transferring the funds to escrow, and, upon notification of the successful completion of the transaction, electronically crediting the funds to the mobile money account of the seller.
[OOSO] FIGS. 1 (A)-(C) show diagrams of a mobile money system 100 facilitating a mobile auction according to embodiments of the invention. As illustrated, a mobile money platform 110 sends and receives messages to and from a mobile device 104 of a seller 102 and mobile devices 108(A)-(C) of subscribing buyers 106(A)-(C1.
[0051] A brief example will be provided with reference to FIGS. 1(A)-(C) to illustrate how the mobile money system 100 facilitates a mobile auction. As indicated at encircled numeral 1 of F!G. 1(A), the seller 102 sends an offer message from the mobile device 104 to the mobile money platform 110. The offer message ma include a text description and/or a picture of the item for sale. In the illustrated example, the seller is selling fish and the message includes a photograph of the fish as well as a brief description, such as type and weight.
[0052] The mobile money platform 10, as indicated at encircled reference numeral 2, publishes the offer message by sending the offer message to the mobile device 108(A) of subscribing buyer 06(A) as well as to the mobile devices 108 (B)- (C) of subscribing buyers 106(B)-(C). As described in more detail below, to determine which subscribing buyers 1Q6(A)-(C) to send the offer to, the mobile money platform 1 0 compares information about the Item and the seller 02 to subscription data of the subscribing buyers 106(A)-(C). In this example, the mobile money platform 110 determined to send the offer to all of the subscribing buyers 106(A)-(C).
10053] As indicated at reference numeral 3, the subscribing buyer 106(A) as we!! as subscribing buyers 106(B)-(G) access their mobile devices 108(A)-{C) to review the offer message to determine whether to bid on the item for sale. The subscribing buyers that decide to bid do so by sending a bid message, as indicated at reference numeral 4, to the mobile money platform 110 The bid message may contain, among other things, a bid price, a seller code identifying the seller, and an offer code identifying the offer. The bid message may also contain a buyer code, which uniquely identifies the subscribing buyer. The mobile money platform 110 collects the bids from the subscribing buyers 106(A)-(C) and, as indicated at encircled reference numeral 5; sends the bids to the mobile device 104 of the seller 102.
[00S4] The seller 102 picks a winning bid from among the bids. The winning bid may have the highest bid price, may be from a known and trusted subscribing buyer, may be from the nearest subscribing buyer, and/or a combination thereof. As indicated at reference number s, the seller 102 then sends to the mobile money platform 110 a message indicating the winning bid. This message may include the bid price and buyer code that identifies the subscribing buyer and/or a bid code that identifies the particular bid. As indicated at reference number 7, the mobile money platform 110 uses the buyer code, the bid code, and/or other identifying information to identify the subscribing buyer 108(A) thai submitted the winning bid and sends a winner message to the mobile devjce 08(A) of the identified subscribing buyer 106(A).
[0055] Referring now to FiG. 1 (B), upon receiving the winner message, the mobile device 108(A) of the identified subscribing buyer 106(A) requests that the subscribing buyer 108(A) confirm authorization of payment to the seller 102, as shown at encircled reference numeral 8, For example, as illustrated in FiG. 1 B, the mobile device 108(A) requests the subscribing buyer 105(A) to confirm payment of $45.00 to 9876543121 , which may be the seller code for the seller 102 (e.g. , the seller's mobile phone number). As indicated at encircled reference numeral 9, the mobile device 108(A) prompts the subscribing buyer 106(A) to confirm payment by entering the buyer's PIN and, as indicated at encircled numeral 10, the mobile device 108(A) sends the PIN In a bid confirmation message to the mobile money platform 1 10.
[0058] The mobile money platform 1 0 accepts the bid confirmation message and PIN as authorization to escrow the agreed upon purchase price from the subscribing buyer's 106(A) mobile money account (e.g., move money from the mobile money account of the buyer to escrow), as indicated at encircled reference numeral 1 1. The purchase amount will be heid in escrow until later confirmation from the buyer that the purchased item has been delivered, for example. After escrowing the purchase amount, the mobile money platform 1 10 sends an escrow' notice to the mobile device 104 of the seller 102, as indicated at reference numeral 12. As illustrated, the escrow notice may indicate the amount that has been placed in escrow and the buyer code for the subscribing buyer 106(A) (e.g. , the buyers mobile phone number, mobile money account number, etc.). This ensures the seller that the buyer is capable of paying and that the seller will indeed get paid upon delivery of the item. In addition to sending escrow notice to the seller, the mobile money platform 1 0 sends an escrow token to the mobile device 108(A) of the subscribing buyer 106(A), as indicated at encircled reference numeral 13. The escrow token may be a string of characters generated by the mobile money platform 10 and representative of escrowed money for the transaction.
[0057] Referring now to FIG. 1 C, when the subscribing buyer 106(A) has received the goods (e.g., fish) or service from the seller 102. the buyer instructs the mobile device 108(A) to send delivery confirmation to the mobile money platform 1 10, as indicated at encircled reference numeral 15, In response to this instruction, the mobile device 108(A) as indicated at encircled reference numeral 16 returns the escrow token to the mobile money platform 10, which uses the escrow token to identify the transaction in question. As indicated at reference numeral 17, the mobile money platform 1 10 then releases the purchase amount from escrow to the mobile money account of the seller 102 and, as indicated at reference numeral 18, sends a payment notice to the seller 102. The seller 102 can review the payment notice on the mobile device 104, as indicated at reference numeral 19. The payment notice may include the buyer code that identifies the buyer 106(A), the amount of money that was transferred to the sellers mobile money account, and a reference to the relevant sales transaction, such as a description of the item purchased or reference number. [0058] FiG. 2 illustrates aspects of a mobile money environment 200 in which a mobile mone platform 204 hosted by a MNO 208 provides mobile money and mobile auction services to buyers 212 and sellers 216. The money environment includes a mobile communications network 224 for transmitting messages between the mobile devices 230 of the buyers 212, sellers 216, and the mobile money platform 204. It should be appreciated that the network 224 may include any appropriate network, including a ceilular network, an intranet, the Internet, a local area network, a wide area network, a wireless data network, or any other such network or combination thereof,
|00S9] According to embodiments, buyers and sellers use mobile devices 230 programmed with a mobile money application 234. FIG. 3 illustrates an example mobile device 230 for sending and receiving communications according to an embodiment. Mobile device 230 includes a user-removable communication component 238 installed in mobile device 230. In the exemplary embodiment as shown, the communication component 238 is a SIM card programmed with the mobile money application 234, and the mobile device 230 is a cellular telephone, it should be understood that in other embodiments, mobile device 230 can be other types of portable communication devices, and the communication component 238 can be other types of user-removable communication components. For example, the communication component can also be one of various types of memory cards, such as a secure digital (SD) memory card that can be used in conjunction with the communication device to send and receive communications.
[0060J The communication component 238 of a communication device can come in various form factors. For example, in embodiments in which the communication component is a SIM card, the communication component can have a form factor according to a fui!-sized SIM card or a mini-S! card as specified in the I SO/I EC 7810 standard, or a micro-SSM card or a nano-SIM card as specified in the ETSI TS 102 221 standard, in other embodiments, for example, in which the communication component 238 is a SD memory card, the communication component can have a form factor according to a fu!l-size SD card, a micro-SD card, or a mini-SD card as specified in the SD standard of the Secure Digital Association.
[0061] Referring to FIGS. 2-4, an example mobile money transaction is described to provide context for a mobile money environment in which the invention can be implemented. In this example, one of the buyers 212 or sellers 218 may invoke a transactio to send money to another one of the buyers or sellers. The transacting buyer or seiier ("user") accesses the mobile device 230 and invokes the mobile money application 234, which provides interactive menus on the mobile device 230. An example of such menu is provided in F!G. 4 at 402. As discussed in more detail below, the menu 402 includes a "Mobile Auction" menu item 404, which provides users with options for participating in mobile auctions. However, in this example of transferring money, the user then selects the "Pay" option in the menu and, in response, the mobile money application 234 prompts the user to enter the mobile wallet number (408) of the user to whom the money is to be transferred. According to some embodiments, the mobile wallet number may be the users mobile phone number, buyer code, seiier code, etc. The mobile money application 234 then prompts the user to input the amount (410) the user wishes to transfer and then the application prompts the user to input a reference for the transaction (416). it should be appreciated that the reference can be a reference for the auction transaction between a buyer and seller. The application 234 then prompts the user to confirm the transaction (420) by pressing "OK", and then the application 234 authenticates the user by prompting the user to input a PIN (424). After the user inputs the PIN and selects "OK", the application 234 causes the mobile device to send a transaction request over the mobile communications network 224 to the mobile money platform 204, which processes the transaction request, transfers money between the users' mobile money accounts, and displays a confirmation (428). Once complete, the mobile money platform 204 sends confirmation messages (e.g. , SIV!S) to both users.
[0062] According to some embodiments, the environment 200 includes agents 220. Users (e.g., buyers and sellers) can deposit and withdraw cash to and from their mobile money accounts at an outlet 240 operated by an agent 220. The agent can be for example a representative of a MHO and the outlet 240 can be a brick- and-mortar retail store location of the NO, where users can buy and activate mobile phones, among other things,
£0063] To deposit/add cash to an account a user physically gives the agent 220 cash and the agent converts this cash to electronic money in the user's mobile money account. To do so, the agent 220 uses a mobile device 230 loaded with a version of the mobile money application 234 to load money into the user's mobile money account. For example, the agent accepts the cash and then uses a mobile device to transfer money from the agent's own account to the user's account.
Certain fees and commissions may be associated with such a transaction, it should be appreciated that agents 220 can receive auction items on behalf of buyers 212 For example, after purchasing an item from a seller 218, a buyer 212 can instruct the seller to deliver the item to an agent 220, who will receive the item on behalf of the subscribing buyer 212. The agent 220, upon accepting deiivery of an item on behalf of a buyer, can send the appropriate escrow token to the mobiie money plaiform 204, causing the escrowed money to be released to the seller's account. In this case, when requesting that the agent take deiivery of the item, the buyer would aiso provide the agent with the escrow token for the transaction.
[0064] It will be helpful to have reference to an example mobile money platform 500 in accordance with at least one embodiment. FiG. 5 provides a block diagram of one such example mobile money platform 500. The mobile money platform 500 comprises a user-interface apparatus 504, a network-interface apparatus 508, and a memory apparatus 512 operatively coupled to a processing apparatus 516.
[0065] As described in greater detail below, embodiments of the mobiie money platform 500 are generally configured to provide mobile money services in combination with facilitating mobile auctions, such as those auctions described with reference to FIGS. 1(A)- and 6-9(E). In this regard, according to at least some embodiments, the mobile money platform 500 may be owned, maintained, operated by, and/or operated on behalf of institutions such as mobiie network operators, financial institutions, mobiie money service providers, and/or other suitable entities. The mobile money platform 500 may, in some embodiments, be integrated with other systems and environments of such institutions and may share at least some hardware, software, and/or other resources with such other systems and
environments. Further, the mobile money platform 500 may, in some embodiments, be integrated with other systems and environments, such as system 100 and environment 200, and may share at least some hardware, software, and/or other resources with such other systems and environments.
[0066] As used herein, the term "apparatus" refers to a device or a combination of devices having the hardware and/or software configured to perform one or more specified functions. Therefore, an apparatus is not necessarily a single device and may, instead, include a plurality of devices that make up the apparatus. The plurality of devices may be directly coupled to one another or may be remote from one another such as distributed over a network.
[0067] It will be understood by one of ordinary skill in the art in light of the present description that, although FIG. 5 illustrates the user interface 504, network interface 508, memory apparatus 512, and processing apparatus 5 6 as separate b!ocks in the block diagram, these separations may be mereiy conceptual. In other words, in some instances, the network interface 508, for example, is a separate and distinct device from the processing apparatus 516 and the memory apparatus 512 and therefore may have its own processor, memory, and software, in other instances, however, the user interface 504 is directly coupled to or integral with at least one part of the processing apparatus 516 and at least one part of the memory apparatus 512 and includes the user interface input and output hardware used by the processing apparatus 5 6 when the processing apparatus 516 executes user input and output software stored in the memory apparatus 512.
[006S] As will be described in greater detail below, in one embodiment, the mobile money platform 500 is entirely contained within a user terminal, such as a personal computer or mobile terminal, while, in other embodiments, the mobile money platform 500 includes a central computing system, one or more network servers, and one or more user terminals in communication with the central computing system via a network and the one or more network servers. FIG. 5 is intended to cover both types of configurations as well as other configurations that will be apparent to one of ordinary skill in the art in view of this disclosure.
[0069] The user interface 504 includes hardware and/or software for receiving input into the mobile money platform 500 from a user and hardware and/or software for communicating output from the mobile money platform 500 to a user, such as a system administrator, or an account holder such as a buyer, seller, or agent accessing his account via the Internet or mobile device. In some embodiments, the user interface 504 includes one or more user input devices, such as a keyboard, keypad, mouse, microphone, touch screen, touch pad, controller, and/or the like. In some embodiments, the user interface 504 includes one or more user output devices, such as a display (e.g. , a monitor, liquid crystal display, one or more light emitting diodes, etc.), a speaker, a tactile output device, a printer, and/or other sensory devices that can be used to communicate information to a person. [0070] In some embodiments, the network interface 508 is configured to receive electronic input from other devices, such as devices in the system 100 or environment 200, including the mobile devices of buyers, sellers, and agents, in some embodiments, the network interface 508 is further configured to send electronic output to other devices in a network.
[Θ071] The processing apparatus 516 includes circuitry used for implementing communication and logic functions of the mobile money platform 500. For example, the processing apparatus 516 may include a digital signal processor device, a microprocessor device, and various anaiog-to-digital converters, digita!-to-anaiog converters, and other support circuits. Control and signal processing functions of the mobile money platform 500 are allocated between these devices according to their respective capabilities. The processing apparatus 516 may include functionality to operate one or more software programs based on computer-readable instructions thereof, which may be stored in the memory apparatus 512, As described in greater detail below, in one embodiment of the invention, the memory apparatus 512 includes a mobile money and auction application 520 having modules 52G(A)~(F) stored therein for instructing the processing apparatus 518 to perform one or more operations of the procedures described herein and in reference to FIGS. 1{A)-4 and 6-9(E), for example. Some embodiments of the invention may include other computer programs stored In the memory apparatus 512.
[0072] in general, the memory apparatus 512 is communicatively coupled to the processing apparatus 516 and includes at least one non-transitor computer- readable storage medium for storing computer-readable program code and instructions, as well as datasfores containing data and/or databases. More particularly, the memory apparatus 512 may include volatile memory, such as volatile Random Access Memory (RAM) including a cache area for the temporary storage of data. The memory apparatus 512 may also include non-volatile memory that can be embedded and/or may be removable. The ποη-volafile memory can, for example, comprise an EEPROM. flash memory, or the like. The memory apparatus 512 can store any of a number of pieces of information and data used by the mobile money platform 500 to implement the functions of the mobile money platform 500 described herein. [0073] in the illustrated embodiment, the memory apparatus 512 includes data stores containing accounts data 530, subscriptions data 534, and seller criteria data 538.
[0074] According to some embodiments, the accounts data 530 includes data relevant to mobile money accounts of users. For example, the accounts data may include account holder's name and contact information, as well as the seller and/or buyer codes associated with the user. The accounts data 530 may also include account numbers, reference numbers, mobile telephone numbers, and other identifiers that are linked to mobile money accounts. Further, the accounts data 530 may include information such as account balances and mobile money transaction histories, including the transaction amounts, payer identifiers, payee identifiers, and dates of each of the historical transactions. Further, for historical transactions in connection with the purchase or sale of items or services via mobile auctions hosted by the mobile money platform, the accounts data 530 may include information such as descriptions of the stems and/or services purchased or sold, the purchase prices, the seller and buyer codes of the respective parties, and the like. The accounts data 530 may also include escrow account information.
[0Q75J According to some embodiments, the subscriptions data 534 includes data relevant to the mobile auction account preferences of buyers and sellers. For example, the subscription data 534 includes data submitted by subscribing buyers indicating preferences, in embodiments, subscribing buyers provide subscription data to the mobile money platform 500 indicating the goods or services for which the subscribing buyers wish to receive offer messages. For example, one subscribing buyer may be interested in receiving offer messages for fruits and vegetables, another subscribing buyer may be interested in receiving only offer messages for fish, while another subscribing buyer may be interested in receiving ail offer messages. Other types of data included in the subscriptions data 534 may include, but are not limited to: location data, price settings, seller codes, buyer codes, and seller and buyer mobile money account information.
[O076J According to some embodiments, the seller criteria data 538 includes rules and settings established by a seller that the mobile money platform uses to automatically select winning bids on behalf of sellers. The seller may provide preference data for accepting bids, such as preferred buyers, location data, price requirements and thresholds, and other data, Also for example, the seller may provide rules indicating that if a bid is received from a preferred buyer, or if a bid exceeds a certain threshoid value, that paiticuiar bid should be selected as a winning bid.
|0077] In some embodiments, accounts data 530, subscriptions data 534, and seller criteria data 538 may be received in a number of ways, including but not limited to receiving from a user via the user's mobile device, through other electronic communication with devices and external data sources via the network interface 508, from users and administrators via the user interface 504, etc. For example, subscription data and seller criteria may be provided by the user via a mobile device in communication with the mobile money platform via a mobile communications network.
[0078] For the sake of clarity and ease of description, the figures provided herein generally illustrate the accounts data 530, subscriptions data 534, and seller criteria data 538 as each being separate from one another, However, it will be understood that, in some embodiments, these data stores may be combined or the data described as being stored within such data stores may be further separated into additional data stores.
[0079] As further illustrated by FIG. 5 and as briefly mentioned above, the memory apparatus 512 also includes the mobile money and auction application 520. As used herein, the term "application" generally refers to computer-readable program code comprising computer-readable instructions stored on a computer-readable storage medium, where the instructions instruct a processor to perform certain functions, such as logic functions, read and write functions, and/or the like, in this regard, the mobile money and auction application 520 includes computer-readable instructions for instructing the processing apparatus 516 and/or other devices to perform one or more of the functions described herein, such as one or more of the functions described in FIGS. 1(A)-4 and 6-9{E).
[0080] FIG. 6 provides a flow diagram illustrating an exemplary process 600 for facilitating an auction marketplace. The process 600 generally begins with the mobile money platform 500 receiving a message from a seller of an item, as indicated at 605. The seller is an individual who has a mobile money account at the platform 500, and the message contains information about the item for sale. For example, the message contains a text description and/or a photograph of the item, The message may also contain information such as minimum sale price, a deadline for the sale, location of the item for sale, delivery logistics, etc.
[0081] With reference to FIGS. 2, 4-5, and 9A, an example of such a message is illustrated, along with the steps of creating the message. The message can be sent from the mobile device 230 of the seller 216 via the mobiie communications network 224 to the mobiie money p!atform 204, 500. !n some embodiments, the mobile money platform 204, 500 is hosted by M Q 208. However, It should be appreciated that the mobile money platform 204, 500 may be a standalone service or may be hosted by other suitable entities, such as financial institutions. To create the message, according to an example, the seller 218 accesses the mobile money application 234 on the mobile device 230. From the mobile money menu 402 (FIG. 4), the seller 218 selects the "Mobile Auction" menu option 404. in response to this selection, the mobile money application 234 provides an auction menu 302 (FIG. 9(A)), where the user selects the "Sell Item" 906 menu option. As illustrated at 910, the mobiie money application 234 prompts the seller 216 to Input a text description of the item for sale and then, at 916, gives the seller 216 the option of uploading an image or photo of the item. At 920, the mobile money application 234 displays the offer message to the seller 216 and prompts the seller 216 to press "OK3 to send the offer message to the mobiie money platform 204, 500.
[0082] Referring again to FIG. 6, after receiving the offer message from the seller, the mobile money platform identifies which subscribing buyers to whom to send the message, as indicated at block 607. For example, the subscription module 520D of the mobile money piatform 500 accesses the subscriptions data 534 to review buyer preferences and to identify the subscribing buyers 212 whose preferences indicate they would be interested in receiving the offer message. In some embodiment, the subscriptions data 534 indicates the goods or services the subscribing buyers wish to receive offer messages for. and thus the subscription module 520D cross- references the text description of the item in the offer message with the subscriptions data. Other types of subscriptions data considered by the subscription module 520D include location data, price settings, seller codes, and seller mobiie money account information. The subscription data may be provided by the subscribing buyer 212 using the mobile money application 234 of the mobiie device 230 in communication with the mobile money platform 500 via a mobiie communications network 224. [0083] For example, as illustrated in FIGS. 2, 5, and 9B, to provide subscription data to the mobile money platform 500, a user accesses the mobile money application 234 on the mobile device 230 and navigates to an auction menu 902, where the user selects the "Subscribe to Offers" menu option 924. As illustrated at 928, the mobile money application 234 prompts the seller 215 to input preferences regarding receiving offer messages for items being offered for sale. For example, the user can input categories of items, such as fish, produce, poultry, electronics, clothing, etc. The user can also input locations) of the seller such that the mobile money platform will only send offers from seiiers in the designed iocation(s), preferred seller identification numbers such that the mobile money piatfcrm will send all offers from these preferred sellers, maximum cost of items such that the mobile money platform will not send offers where the opening bid exceeds this amount, etc. After the user inputs this information and presses "OK", the mobile device sends 230 the information over the mobile communication network 224 to the mobile money platform 204, 500, which stores the information in subscriptions database 534.
[0084] Referring again to FIG. 6, the mobile money platform publishes the offer message to the identified buyers, as indicated at block 810 For example, the publishing module 520(A) of the mobile money platform 204, 500 sends the offer message over the mobile communication network 224 to the mobile devices 23G of the identified buyers 212. As indicated at block 615, subscribing buyers reply by sending messages containing bids. For example, the subscribing buyers 212 use their mobile device 230 to send a message containing a bid to the mobile money platform 500. According to some embodiments, the offer and bid messages are sent via SMS, MMS, or USSD.
[0OS5J Referring to FIGS. 9C, an example offer message received at the mobile device 230 of a subscribing buyer 212 is provided at 934. The subscribing buyer 212 is given the option to "Bid" on the item for sale or to "ignore" the offer message. If the subscribing buyer selects "Bid", then the mobile money application 234 as illustrated at 938 provides a text box for inputting the bid. When the subscribing buyer 212 inputs the bid price and presses "Send", the mobile money application 234 constructs a message (e.g., SMS, S, USSD) including the bid price and a reference to the relevant offer message, and sends the message to the mobile money platform 204, 500 via the mobile communication network 224. £0088] Referring again to FIG, 6, a winning bid is selected from among the bids received from the subscribing buyers 212, as indicated at block 620. Referring now to FIG. 7, a process 700 is provided for selecting a winning bid. As indicated at block 705, the bid review module 52.0(C) of the mobile money platform 500 accesses the seller criteria data 538, The bid review module 520(C) reviews the bids received against the seller criteria data, as indicated at 710. The seller criteria data may include rules and settings established by a seller that the bid review module uses to determine winning bids. The seller may provide preference data for accepting bids, such as preferred buyers, location data, price requirements and thresholds, and other data. Further, for example, the seller may provide criteria indicating that if a bid is received from a preferred buyer, or if a bid exceeds a certain threshold value, that particular bid should be selected as a winning bid. The seller criteria may be provided b sellers 218 using the mobile money application 234 of their mobile devices 230, which sends the criteria to the mobile money platform 204, 500 via the mobile communications network 224.
[0Θ87] As Indicated at block 715, the bid review module 520(C) automatically selects a winning bid. For example, the winning bid is the bid that best satisfies the user criteria. For example, the bid may have been submitted by a preferred buyer or a buyer in a preferred location, or the winning bid may have been the one with the highest bid amount,
[0088] Referring now to F!G. 8, another process 800 is provided for selecting a winning bid. As indicated at block 810, the mobile money platform sends the bids received from the subscribing buyers to the seller. For example, the messaging module 520(A) of the mobile money platform 500 compiles the bids into a single message and sends the message to the mobile device 230 of the seller 216, As indicated at block 815, the seller reviews the bids and chooses the winning bid. For example, the seller 216 uses the mobile money application 234 of the mobile device to review the individual bids. The seller 216 may consider the bid amount, the reputation and location of the buyer who submitted the bid, and other information relevant to selecting the winning bid. As indicated at block 820, the mobile money platform 500 receives the winning bid from the seller. For example, after selecting the winning bid, the seller 216 uses the mobile money application 234 on the mobile device 230 to compose a message that indicates the winning bid and to send the message over the wireless communication network 224 to the mobile money platform 204, 500.
[008S] Referring again to FiG. 6, the mobile mone platform escrows the winning bid amount, as indicated at biock 625. For example, the escrow module 520(F) of the mobile money platform 500 accesses the mobile money account of the subscribing buyer 212 that submitted the winning bid, and escrows an amount equal to the bid. To do so, in some embodiments, the escrow module 520(F) moves money from the buyer's mobile money account to an escrow account, in other embodiments, the escrow module 520(F) does not remove the money from the mobile money account but instead designates the money as escrowed. This makes the money temporarily unavailable for use by the buyer until completion of the auction transaction.
[0090] As indicated at blocks 630 and 635, the mobile money platform creates an escrow token representative of the escrowed money, sends a copy of the escrow token along with a notification message to the subscribing buyer 212 that submitted the winning bid, and sends a notification message to the seller 216. For example, the tokenization module 520(B) of the mobiie money platform 500 creates an escrow token and assigns the token to the transaction in question. The messaging module 520(A) then sends the escrow token along with a message to the subscribing buyer 212 that submitted the winning bid. The message, for example, provides a copy of the escrow token along with information identifying the purchase item and the seller. In some embodiments, the message includes a seller code, which uniquely identifies the seller 218. Furthermore, the message could include the fv!SiSDN, telephone number, etc. of the mobile device 230 of the seller 218, This enables the subscribing buyer 212 to contact the seller 216 to arrange for delivery or pickup. The messaging module 520(A) also sends a message to the seller 216, indicating a winning bid price, the identity of the subscribing buyer 212 that submitted the winning bid, and that the purchase amount is being held in escrow. Similar to the message sent the buyer, this message to the seller, for example, includes the IVIS!SDN, telephone number, etc. of the mobile device 230 of the subscribing buyer 212. This enables the seller 216 to contact the subscribing buyer 212 to arrange for delivery or pickup.
[0091] As indicated at biock 640, the subscribing buyer 212 and the seller 216 use the contact Information included in the respective notification messages received from the mobiie money platform 204, 500 to contact each other and arrange for deiivery or pickup. Once the subscribing buyer 212 has received the i em, the subscribing buyer 212 determines whether he or she is satisfied with the item and, as indicated at block 645, sends the copy of the escrow token to the mobile money platform 204, 500. For example, as illustrated in FIGS 2, 4-5, and 9D, the subscribing buyer 212 accesses the mobile money application 234 on the mobile device 230 and selects the "Mobile Auction" menu item 404 on the main menu 402, The subscribing buyer 212 then selects the "Confirm Delivery" option 950 from the Mobile Auction menu 902, The mobile money application 234 then provides a list of transactions 954 that is incomplete (e.g., the subscribing buyer 212 submitted the winning bid but has yet to take possession of the item(s)). The subscribing buyer 212 selects the number that corresponds with the transaction (e.g., " 1" for snapper, "2" for basil leaves, etc.), and the mobile money application 234 sends the copy of the escrow token for that transaction back to the mobile money platform 204, 500 via a message (e.g., by SMS, M S, USSD, etc) .
[0092] As indicated at block 850, upon receiving back the copy of the escrow token for a transaction, the mobile money piatform 500 releases the escrowed funds for that transaction to the mobile money account of the seller 216. For example, upon receiving the escrow token, the escrow module 520(F) determines which transaction the token represents and obtains information regarding the escrowed money, including the amount and the seller 216 and buyer 212. The funds transfer module 520(E) uses the obtained data to release the money from escrow to the mobile money account of the seller 216. in some embodiments, the funds transfer module 520(E) transfers funds from the mobile money account of the buyer 212 that were designed as escrow, whereas in other embodiments the funds transfer module 520(E) transfers funds from an escrow account. According to some embodiments, after the funds have been transferred to the mobile money account of the seller 216, the mobile money platform sends a "payment received" notification message to the mobile device 230 of the seller 216. An example notification message 960 is provided in FIG, 9E.
[0093] FIG. 0 shows a block diagram of an exemplary mobile device 1000 It should be appreciated that mobile devices 104, 108, 230, and any other mobile devices mentioned herein can include some or all of the components of mobile device 1000. The exemplary mobile device 000 may comprise a computer- readable medium and a body. The computer-readable medium 1000(b) may be present within the bod 1000(h), or may be detachable from it. The body 1000(h) may be in the form a piasiic substrate, housing, or other structure. The computer- readable medium 1000(b) may be a memory, such as a tangible (i.e. physical or durable) memory that stores data and may be in any suitable form Including a hard drive, magnetic stripe, a memory chip, uniquely derived keys (such as those described above), encryption algorithms, etc. The memory also preferably stores information and applications, such as the mobile money application 234.
[0094] The mobile device 1000 may further include a contacfless element 1000(g), which is typically implemented in the form of a semiconductor chip (or other data storage element) with an associated wireless transfer (e.g. , data transmission) element, such as an antenna. Data or control instructions transmitted via a cellular network may be applied to contactless element 1000(g) by means of a contactless element interface (not shown). The contactless element interface may function to permit the exchange of data and/or control instructions between the mobile device circuitry (and hence the cellular network) and an optional contactless element 1000(g).
[0095J Contactless element 1000(g) is capable of transferring and receiving data using a near field communications ("NFC") capability (or near field
communications medium) typically in accordance with a standardized protocol or data transfer mechanism (e.g., ISO 14443/NFC). Near field communications capability is a short-range communications capability, such as RFID, BiuetoothT , infrared, or other data transfer capability that can be used to exchange data between the mobile device 1000 and an interrogation device. Thus, the mobile device 1000 is capable of communicating and transferring data and/or control instructions via both cellular network and near field communications capability.
[0096] The mobile device 1000 may also include a processor 1000(c) (e.g., a microprocessor or a group of processors working together) for processing the functions of the mobile device 1000 and a display 1000(d) to allow a user to see phone numbers and other information and messages. The mobile device 1000 may further include input elements 1000(e) to allow a user to input information into the device, a speaker 1000(f) to allow the user to hear voice communication, music, etc., and a microphone 1000© to allow the user to transmit her voice through the user mobile device 1000. The mobile device 1000 may also include an antenna 1000(a) for wireless data transfer (e.g., data transmission). [0097] The various participants and elements may operate one or more computer apparatuses (e.g. , s server computer) to facilitate the functions described herein. Any of the elements in the figures may use any suitable number of subsystems to facilitate the functions described herein. Examples of such, subsystems or components are shown in F!G. 11. The subsystems shown in FIG. 1 1 are interconnected via a system bus 1 100. Additional subsystems such as a printer 1 108, keyboard 1 1 16, fixed disk 1 1 18 (or other memory comprising computer readable media), monitor 11 12, which is coupied to display adapter 1 1 10, and others are shown. Peripherals and input/output (I/O) devices, which couple to I/O controller 102, can be connected to the computer system by any number of means known in the art, such as serial port 1 1 14. For example, serial port 1 1 14 or externa! interface 1 120 can be used to connect the computer apparatus to a wide area network such as the Internet, a mouse input device, or a scanner. The interconnection via system bus 1 100 allows the central processor 1106 to communicate with each subsystem and to control the execution of instructions from system memory 1 104 or the fixed disk 1 1 18, as well as the exchange of information between subsystems. The system memory 1 104 and/or the fixed disk 1 1 18 may embody a computer readable medium.
[0098] Further, while the present invention has been described using a particular combination of hardware and software in the form of control logic and programming code and instructions, it should be recognized that other combinations of hardware and software are also within the scope of the present invention. The present invention may be implemented only in hardware, or only in software, or using combinations thereof.
[0099] The software components or functions described in this application may be Implemented as software code to be executed by one or more processors using any suitable computer language such as, for example, Java, C++ or Perl using, for example, conventional or object-oriented techniques. The software code may be stored as a series of instructions, or commands on a computer-readable medium, such as a random access memory (RAM), a read-only memory (ROM), a magnetic medium such as a hard-drive or a floppy disk, o an optical medium such as a CD-ROM. Any such computer-readable medium may also reside on or within a single computational apparatus, and may be present on or within different computational apparatuses within a system or network. [0100] The present invention can be implemented in the form of control logic in software or hardware or a combination of both. The control logic may be stored in an information storage medium as a plurality of instructions adapted to direct an information processing device to perform a set of steps disclosed in embodiments of the present invention. Based on the disc!osure and teachings provided herein, a person of ordinary skill in the art will appreciate other ways and/or methods to implement the present invention.
[0101] it is understood that the examples and embodiments described herein are for illustrative purposes only and that various modifications or changes in light thereof will be suggested to persons skilled in the art and are to be included within the spirit and purview of this application and scope of the appended claims. All publications, patents, and patent applications cited in this patent are hereby incorporated by reference for all purposes.
J01G2J One or more features from any embodiment may be combined with one or more features of any other embodiment wilhout departing from the scope of the disclosure.
[0103] in embodiments, any of the entities described herein may be embodied by a computer that performs any or ail of the functions and steps disclosed.
[0104] Any recitation of "a", "an" or "the" is intended to mean "one or more" unless specifically indicated to the contrary.
[0105] The above description is illustrative and is not restrictive. Many variations of the invention will become apparent to those skilled in the art upon review of the disclosure. The scope of the invention should, therefore, be determined not with reference to the above description, but instead should be determined with reference to the pending claims along with their full scope or equivalents.

Claims

WHAT iS CLAIMED IS:
1. A method comprising:
receiving, at a mobile money platform, an offer to sell goods or services, the offer being received via a message transmitted over a mobile communications network from a mobile device of a seller;
publishing, by the mobile money platform, the offer to a plurality of subscribing buyers by sending a message comprising the offer over the mobile communications network to the mobile devices of the subscribing buyers;
receiving, at the mobile money platform, one or more bids from one or more of he subscribing buyers, the one or more bids being received via one or more messages transmitted over the mobile communications network from the mobile devices of the one or more subscribing buyers;
sending, from the mobile money platform, the one or more bids to the seller, the one or more bids being sent via one or more messages transmitted over the mobile communications network to the mobile device of the seller;
receiving, at the mobile money platform, an indication of a selected bid, the indication of the seiected bid being received via a message transmitted over the mobile communications network from the mobile device of the seller, the selected bid comprising a purchase price and being selected by the seller from among the one or more bids;
transferring, b the mobile money platform, an amount equal to the purchase price provided in the selected bid from a mobile money account of the subscribing buyer that submitted the selected bid to an escrow account;
creating, by the mobile money platform, an escrow token representative of the purchase amount being held in the escrow account;
sending, from the mobile money platform, the escrow token to the subscribing buyer that submitted the selected bid, the escrow token being sent via a message transmitted over the mobile communications network to the mobile device of the subscribing buyer that submitted the selected bid; and
upon receiving the escrow token back from the subscribing buyer that submitted the seiected bid, transmitting, by the mobile money platform, a release message to the financial institution that holds the financial account of the subscribing buyer that submitted the selected bid, the release message instructing the financial institution to transfer the purchase amount from the escrow account to the financial account of the seller,
wherein the subscribing buyer that submitted the selected bid sends the escrow token back to the mobile money platform upon satisfactory receipt of the goods or services.
2. The method of claim 1 , wherein the offer, the one or more bids, and the escrow token are transmitted by SMS/MMS messaging.
3. The method of claim 1 , wherein a notification message is generated and transmitted to the first portable device indicating that the purchase amount has been transferred to the escrow account,
4. The method of claim 1 , wherein publishing the offer to the one or more subscribing buyers comprises sending an offer message to one of more mobile devices associated with the one or more subscribing buyers.
5. The method of claim 4, wherein the offer message includes a seller code uniquely identifying the seller, and wherein each of the one or more bids from each of the one or more subscribing buyers comprises a buyer code uniquely identifying each of the one or more subscribing buyers.
6. The method of claim 5, wherein the indication of the selected bid is sent in a seiection message from the seller to the mobsie money platform, and wherein the selection message includes the buyer code of the subscribing buyer thai submitted the selected bid.
7. The method of claim 1 , wherein each of the one or more subscribing buyers provide subscription data to the mobile money platform indicating the goods/services each of the one or more subscribing buyers is to receive offer messages for.
8, The method of claim 7, wherein when an offer is received from the seller, subscription data is analyzed to identify the one or more subscribing buyers to receive the offer.
9. A mobile money platform comprising a processor, and a computer readable medium coupled to the processor, the computer readable medium comprising code for implementing a method comprising:
receiving an offer to sell goods or services, the offer being received via a message transmitted over a mobile communications network from a mobile device of a seller;
publishing the offer io a plurality of subscribing buyers;
receiving one or more bids from one or more of the subscribing buyers; sending the one or more bids to the seller, the one or more bids being sent via one or more messages transmitted over the mobile communications network to the mobile device of the seller;
receiving an indication of a selected bid, the indication of the selected bid being received via a message transmitted over the mobile communications network from the mobile device of the seller, the selected bid comprising a purchase price and being selected by the seller from among the one or more bids;
transferring a purchase amount from a mobile money account of a subscribing buyer that submitted the selected bid to an escrow account, the escrowed purchase amount being equal to the purchase price provided in the selected bid;
creating an escrow token representative of the purchase amount being held in the escrow account;
sending the escrow token to the subscribing buyer that submitted the selected bid, the escrow token being sent via a message transmitted over the mobile communications network to the mobile device of the subscribing buyer that submitted the selected bid; and
transferring the purchase amount from the escrow account to a mobile money account of the seller upon receiving the escrow token back from the subscribing buyer that submitted the selected bid, the subscribing buyer thai submitted the selected bid sending the escrow token back to the mobiie money platform upon satisfactory receipt of the goods or services.
10. The mobile money platform of claim 9, wherein the offer, the one or more bids, and the escrow token are transmitted by SMS/MMS messaging.
1 1. The mobiie money platform of claim 9, wherein a notification message is generated and transmitted to the first portable device indicating that the purchase amount has been transferred to the escrow account.
12. The mobile money platform of claim 9. wherein publishing the offer to the one or more subscribing buyers comprises sending an offer message to one of more mobile devices associated with the one or more subscribing buyers.
13. The mobiie money platform of claim 12, wherein the offer message includes a seiier code uniquely identifying the seller, and wherein each of the one or more bids from each of the one or more subscribing buyers comprises a buyer code uniquely identifying each of the one or more subscribing buyers,
14. The mobiie money platform of claim 13, wherein the selected bid is sent in a selection message from the sefier to the mobiie money platform, and wherein the selection message includes the buyer code of the subscribing buyer that submitted the selected bid.
15. The mobile money platform of claim 9. wherein each of the one or more subscribing buyers provides subscription data to the mobile money platform indicating the goods/services each of the one or more subscribing buyers is to receive offer messages for.
18. The mobile money platform of claim 1 5, wherein when an offer is received from the seller, subscription data is analyzed to identify the one or more subscribing buyers to receive the offer.
17. A method comprising:
receiving, at a mobile money platform, an offer from a seller, the offer being an offer to sell goods or services transmitted to the mobile money platform in a message sent via a mobile communications network from a mobile device of the seller;
publishing, by the mobile money platform, the offer to one or more subscribing buyers;
receiving, at the mobile money platform, one or more bids from the one or more subscribing buyers;
obtaining, by the mobile money platform, a selected bid from among the one or more bids;
transferring, by the mobile money platform, a purchase amount from a mobile money account of a subscribing buyer that submitted the selected bid to an escrow account, the purchase amount equal to a purchase price provided in the selected bid;
creating an escrow token representative of the purchase amount being held in the escrow account;
sending the escrow token to the subscribing buyer that submitted the selected bid, the escrow token being sent via a message transmitted over the mobile communications network to the mobile device of the subscribing buyer thai submitted the selected bid; and
transferring the purchase amount from the escrow account to a mobile money account of the seller upon receiving the escrow token back from the subscribing buyer that submitted the selected bid, the subscribing buyer that submitted the selected bid sending the escrow token back to the mobile money platform upon satisfactory receipt of the goods or services.
18. The method of claim 17, wherein obtaining the selected bid from among the one or more bids comprises;
automatically identifying, by the mobile money platform, the selected bid from among the one or more bids based on seller criteria.
19. The method of claim 17, wherein identifying the selected bid from among the one or more bids comprises:
sending the one or more bids to the seller, the one or more bids being sent via one or more messages transmitted over the mobile communications network to the mobile device of the seller; and
receiving an indication of a selected bid, the indication of the selected bid being received via a message transmitted over the mobile communications network from the mobile device of the seller, the selected bid comprising a purchase price and being selected by the seller from among the one or more bids.
20. The method of claim 17, wherein the escrow token contains data identifying the escrow account and the mobile money account of the seller.
21. A method comprising:
receiving, at a mobiie money platform, an offer to sell goods or services, the offer being received via a message transmitted over a mobile communications network from a mobiie device of a seller, the seller having a financial account held at a financial institution in communication with the mobile money platform;
publishing, by the mobile money platform, the offer to a plurality of subscribing buyers by sending a message comprising the offer over the mobile communications network to the mobile devices of the subscribing buyers, each of the subscribing buyers having a financial account held at a financial institution in communication with the mobile money platform;
receiving, at the mobiie money platform, one or more bids from one or more of the subscribing buyers, the one or more bids being received via one or more messages transmitted over the mobile communications network from the mobile devices of the one or more subscribing buyers;
sending, from the mobile money platform, the one or more bids to the seller, the one or more bids being sent via one or more messages transmitted over the mobiie communications network to the mobile device of the seller;
receiving, at the mobile money platform, an indication of a selected bid, the indication of the selected bid being received via a message transmitted over the mobile communications network from the mobile device of the seller, the selected bid comprising a purchase price and being selected by the seller from among the one or more bids;
transmitting, by the mobile money platform, an escrow message to the financial institution that holds the financial account of the subscribing buyer that submitted the selected bid, the escrow message instructing the financial institution to transfer a purchase amount from the financial account of the subscribing buyer that submitted the selected bid to an escrow account, the escrowed purchase amount being equal to the purchase price provided in the selected bid;
creating, by the mobiie money platform, an escrow token representative of the purchase amount being held in the escrow account;
sending, from the mobile money platform, the escrow token to the subscribing buyer thai submitted the selected bid, the escrow token being sent via a message transmitted over the mobile communications network to the mobiie device of the subscribing buyer that submitted the selected bid; and
upon receiving the escrow token back from the subscribing buyer that submitted the selected bid, transmitting, by the mobiie money p!afform, a release message to the financial institution that holds the financial account of the subscribing buyer that submitted the selected bid, the release message instructing the financial institution to transfer the purchase amount from the escrow account to the financial account of the seller,
wherein the subscribing buyer that submitted the selected bid sends the escrow token back to the mobile money platform upon satisfactory receipt of the goods or services,
PCT/US2012/058723 2012-10-04 2012-10-04 Electronic auctions over mobile communication networks WO2014055079A1 (en)

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