U.S. patent application number 17/099409 was filed with the patent office on 2021-06-24 for systems and methods for commodity exchanges.
This patent application is currently assigned to Future Partners LLC. The applicant listed for this patent is Future Partners LLC. Invention is credited to Brendon Albrizio, David Lidman, Donald Maggioli, David Newton, Jack Newton.
Application Number | 20210192604 17/099409 |
Document ID | / |
Family ID | 1000005223091 |
Filed Date | 2021-06-24 |
United States Patent
Application |
20210192604 |
Kind Code |
A1 |
Lidman; David ; et
al. |
June 24, 2021 |
SYSTEMS AND METHODS FOR COMMODITY EXCHANGES
Abstract
The present invention relates to systems for completing sales to
a consumer with a new card that combines the process of dispensing
pre-purchased commodities from a customer account at the point of
sale as well as the ability to complete the transaction with a
credit and debit function. The present invention includes a
distributed system having at least a part for sales of a commodity
and at least one a part for dispensing of a commodity. The
distributed system includes a communication connection between the
parts. A first entity uses the first part of the distributed system
to sell commodities to a consumer to be dispensed at a later time.
The consumer obtains the commodities in differing amounts from the
amounts sold from a second entity. The second entity uses the
second part of the distributed system and the communication link
between the first and second parts of the distributed system to
verify amounts available to be dispensed to the consumer.
Inventors: |
Lidman; David; (Marston
Mills, MA) ; Newton; Jack; (Falmouth, MA) ;
Maggioli; Donald; (Quincy, MA) ; Albrizio;
Brendon; (Somerville, MA) ; Newton; David;
(Falmouth, MA) |
|
Applicant: |
Name |
City |
State |
Country |
Type |
Future Partners LLC |
Falmouth |
MA |
US |
|
|
Assignee: |
Future Partners LLC
Falmouth
MA
|
Family ID: |
1000005223091 |
Appl. No.: |
17/099409 |
Filed: |
November 16, 2020 |
Related U.S. Patent Documents
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Application
Number |
Filing Date |
Patent Number |
|
|
16724882 |
Dec 23, 2019 |
10867344 |
|
|
17099409 |
|
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Current U.S.
Class: |
1/1 |
Current CPC
Class: |
G06Q 30/0234 20130101;
G06Q 50/06 20130101; G06Q 30/0637 20130101 |
International
Class: |
G06Q 30/06 20060101
G06Q030/06; G06Q 30/02 20060101 G06Q030/02; G06Q 50/06 20060101
G06Q050/06 |
Claims
1. A method for facilitating the sale of a commodity from a
supplier to a consumer wherein the supplier provides the commodity
to a retailer for distribution to consumers, the method comprising
the steps of: receiving from the supplier a price for the
commodity; providing the consumer with the price of the commodity;
receiving from the consumer a first amount of the commodity to
purchase; transferring funds to the supplier for the first amount
of the commodity; crediting a consumer account with the first
amount of the commodity; receiving information regarding a second
amount of the commodity to be dispensed to the consumer; and
debiting the second amount of the commodity from the consumer
account.
2. The method of claim 1 wherein the commodity is gasoline.
3. The method of claim 1, further comprising the step of collecting
funds from the consumer in at least the amount of funds transferred
to the supplier.
4. The method of claim 1, further including, before the
transferring step, the steps of: determining if the consumer has
sufficient funds for the first amount of the commodity; and
refusing to transfer funds to the supplier if the consumer does not
have sufficient funds.
5. The method of claim 4 wherein the determining step includes
providing credit to the consumer.
6. The method of claim 1, wherein the receiving of information
includes: receiving a request from the retailer to dispense the
commodity to the consumer; verifying that consumer account has a
sufficient amount of the commodity; providing authorization to the
retailer to dispense the commodity to the consumer; and receiving
information from the retailer of the second amount of the
commodity.
7. The method of claim 6, wherein the providing of authorization
includes providing authorization for a third amount of the
commodity; wherein, when the second amount of the commodity exceeds
the third amount of the commodity, the receiving information step
includes the step of providing a cost for an amount by which the
second amount of the commodity exceeds the third amount of the
commodity; the method further comprising the step of transmitting
funds for the cost.
8. The method of claim 1, wherein the commodity is a first
commodity, the method further comprising the steps of: receiving
from the supplier a second price for a second commodity; providing
the consumer with the second price of the second commodity;
receiving from the consumer a first amount of the second commodity
to purchase; transferring funds to the supplier for the first
amount of the second commodity; crediting a consumer account with
the first amount of the second commodity; receiving information
regarding a second amount of the second commodity dispensed to the
consumer; and debiting the second amount of the second commodity
from the consumer account.
9. The method of claim 8 wherein the first commodity is a first
type of gasoline and the second commodity is a second type of
gasoline.
10. The method of claim 8, further comprising the steps of:
debiting a first conversion amount of the first commodity from the
consumer account; determining a second conversion amount of the
second commodity by applying a conversion ratio to the first
conversion amount; and crediting the second conversion amount of
the second commodity to the consumer account.
11. A system for the sale of a commodity to a consumer comprising:
a first entity receiving funds from a consumer and transmitting
funds to a second entity for the purchase of a first amount of the
commodity; the second entity further providing the commodity to at
least one third entity in amounts unrelated to the first amount of
the commodity; the at least one third entity dispensing the
commodity to the consumer in at least one second amount, the second
amount being less than or equal to the first amount and the total
of the at least one second amount being equal to the first
amount.
12. A point of sale system for dispensing and selling at least one
commodity, the point of sale system having a connection to a
separate system for requesting approval for sales of the at least
one commodity, the point of sale system included: at least one
input for identifying the at least one commodity and a
corresponding quantity of the at least one commodity; at least one
input for identifying a customer seeking to purchase the at least
one commodity; a transmitter/receiver for transmitting the at least
one commodity and the corresponding quantity over the connection
and for receiving an approved quantity of the at least one
commodity; a processor for determining a balance due for the at
least one commodity and corresponding quantity, less the approved
quantity; a payment input for receiving funds in the amount of the
balance due.
Description
CROSS-REFERENCE TO RELATED APPLICATIONS
[0001] This application is a divisional of co-pending U.S. patent
application Ser. No. 16/724,882, filed Dec. 23, 2019, entitled
"SYSTEMS AND METHODS FOR COMMODITY EXCHANGES," assigned Attorney
Docket No. F0835.70000US00, the entirety of which is incorporated
herein by reference.
BACKGROUND
[0002] A commodity is any article of commerce, such as a product,
provided to Consumers. FIG. 1 represents a typical distribution
system for commodities to a Consumer. A Consumer 10 visits a retail
establishment 20, either in person or online, to purchase various
commodities 21. The retail establishment 20 provides the commodity
21 to the Consumer 10 in exchange for payment 12. The retail
establishment obtains commodities 31 from a distributor 30 to sell
to Consumers. The distributor 30 may obtain the commodities 41 from
a wholesaler 40 who obtains the commodities 51 from a manufacturer
or producer 50. In each case, the commodities are obtained based
upon payment 22, 32, 42. Additionally, the quantity of the
commodity decreases at each step from producer 50 to the Consumer
10 and the price increases, with each entity gaining a profit from
its transactions.
[0003] In order to facilitate the sale of commodities, financial
services companies 61, 62, 63, 64 can be involved in any of the
transactions in the process. A financial services company provides
a payment on behalf of the purchaser. For example, the financial
services company 61 provides a payment 14 to the Retailer 20, in
lieu of a payment 12 from the Consumer 10. The financial services
company 61 obtains payment 13 from the Consumer 10 at a later date
with interest, fees or other remuneration for providing the credit.
Sometimes, the seller (producer 50, wholesaler 40, distributor 30,
or Retailer 20) provides credit for the purchaser without use of an
outside financial services company.
[0004] The price of many commodities can be extremely volatile over
the course of time. Each entity in the sale and distribution
process takes steps to minimize its exposure to the volatility. For
example, commodities can be purchased and stored when the price is
low. However, there are additional costs involved with storage.
Sometimes, a purchaser can work the credit terms to get a specified
price in connection with a delivery at a specific time in the
future.
SUMMARY
[0005] The Assignee has appreciated that Consumers 10 often do not
have the opportunity to utilize the price control measures employed
by other entities in a distribution system. They may not have the
capability of storing large amounts of a commodity and their needs
for the commodity can be variable, such that they don't know when
they will need more or how much. The Assignee has appreciated that
Consumers may wish to better control their expenses relating to
commodities having volatile prices without the need for storage of
the commodity.
[0006] Gasoline is an example of a commodity with a very volatile
price. Prices change daily at many retail locations based upon
sales, demand and costs from the distributor. Demand for gasoline
also varies significantly between periods of heavy travel, such as
holiday and vacation times, and other times throughout the year.
Moreover, prices vary significantly between retail locations which
are relatively close to each other. Furthermore, increased prices
at the producer 50 are reflected more quickly at the Retailer 20
than price decreases, due to product storage at each entity along
the distribution chain.
[0007] Many attempts have been made to provide Consumers with the
opportunity to purchase gasoline when prices are lower to be
delivered in lesser quantities at later times. One example is U.S.
Pat. No. 8,065,191 issued to Rodney Senior on Nov. 22, 2011. This
patent discloses a computer and Internet based system for purchase
and later distribution of gasoline. The patent provides information
about how the sale and later distribution is tracked. What the
patent does not disclose is how the gasoline is obtained,
distributed, and paid for from entities with access to gasoline. It
appears that the computerized system might be run by a single
entity with one or multiple locations. Such a system is utilized by
First Fuel Banks of St. Cloud, Minn. First Fuel Banks has six
retail locations in single area. However, such a system cannot be
expanded to a more expansive set of retail locations with different
ownership, as is common in the gasoline industry. Although stations
may sell a specific brand of gasoline and include signage for that
brand, the station is independently owned and operated by a
franchisee. There is not common ownership or even common pricing
structures among stations.
[0008] U.S. Pat. No. 8,346,616 issued to Young Hwang on Jan. 1,
2013 discloses a system which can be used across multiple retail
locations. In that system, a hedging company "sells" the gasoline
to Consumers. However, the hedging company does not actually own
nor distribute gasoline. When a Consumer obtains the gasoline from
a Retailer, the hedging company pays the Retailer the current
retail price at that location. The hedging company makes
investments to cover any increased costs from the time of purchase
to the time of sale.
[0009] Some embodiments of the present invention substantially
overcome the deficiencies of the prior art by providing a system
and methods for the sale of commodities by suppliers to be
dispensed by retailers which receive the commodity from the
suppliers. For example, some embodiments include three unique
systems, operated within different entities in a distribution and
sales system, which function together to provide a complete
operation with efficiencies in communications, transmission, data
storage and processing times within each of the three unique
systems. In some embodiments, the system may allow consumers to
purchase a commodity from a supplier in a quantity larger than the
need of the consumer at a given time. The consumer is able to
obtain the commodity at various times from one or more retailers of
the commodity in amounts less than the total purchased from the
supplier. The supplier provides the commodity to the retailer for
dispensing to the consumer.
[0010] According to a first aspect of the invention, a supplier
processing system maintains an account on behalf of the consumer
relating to amounts of the commodity purchased. The system credits
purchased amounts to the account and debits amounts dispensed by a
retailer are from the account. According to another aspect of the
invention, the supplier processing system maintains an account of
amounts of the commodity distributed to the retailer. The supplier
processing system credits the retailer's account for amounts
dispensed to consumers when debited from the consumer account.
Amounts dispensed by the retailer are automatically transmitted
from a point of sale system at the retailer to the supplier
processing system.
[0011] According to another aspect of the invention, the supplier
processing system authorizes dispensing of the commodity by the
retailer based upon pre-purchased amounts in the consumer account.
According to another aspect of the invention, the supplier
processing system determines and provides compensation to the
retailer when the point of sale system transmits information
regarding dispensing the commodity to the consumer. According to
another aspect of the invention, the system allows the consumer to
purchase both a first commodity and a second commodity from the
supplier. The point of sale system at the retailer authorizes and
tracks dispensing the first commodity and the second commodity to
the consumer. The supplier processing system determines
pre-purchased and dispensed amount of both the first commodity and
the second commodity. According to another aspect of the invention,
supplier processing system operates to allow the consumer to
exchange the first commodity for the second commodity in accordance
with a conversion ratio. According to other aspects of the
invention, the first and second commodities are different types of
gasoline.
[0012] According to another aspect of the invention, a financial
processing system facilitates the purchase of a commodity from a
supplier. To facilitate the purchase and dispensing of the
commodity, the financial processing system transfers funds to the
supplier for the commodity and the commodity is dispensed to the
consumer. The financial processing system further communicates with
the supplier processing system and point of sale system to track
the purchase and dispensing of the commodity and to maintain
accounts for such tracking. According to another aspect of the
invention, if the consumer does not have sufficient pre-purchased
amounts of the commodity, the financial processing system transfers
funds on behalf of the consumer to the retailer for any amounts
dispensed which exceed an available amount of pre-purchased
commodity.
[0013] According to another aspect of the invention, a system is
provided for the sale and dispensing of commodities. The system
includes three entities. A first entity provides funds to the
second entity for the purchase of the commodity. The second entity
provides the commodity to at least one third entity for dispensing
to consumers. The at least one third entity dispenses the commodity
to consumers in amounts less than the amount purchased, but
totaling the amount purchased. The present invention includes three
processing systems, one at each entity, for communicating and
processing information to assist in completion of the sales
transactions.
BRIEF DESCRIPTION OF THE DRAWINGS
[0014] FIG. 1 is a block diagram depicting a typical commodity
distribution system of the prior art.
[0015] FIG. 2 is a block diagram depicting a representative
commodity distribution system according to an embodiment of the
present invention.
[0016] FIG. 3 is a block diagram depicting a representative
financial services account system for commodity distribution in
accordance with an embodiment of the invention.
[0017] FIG. 4 is a flow diagram depicting a representative process
for purchase of gasoline from a Supplier by a Consumer in
accordance with an embodiment of the invention.
[0018] FIG. 5A is a flow diagram depicting a representative process
for dispensing of gasoline to a Consumer in accordance with an
embodiment of the invention.
[0019] FIG. 5B is a flow diagram depicting a representative process
for dispensing groceries to a Consumer in accordance with an
embodiment of the invention.
[0020] FIG. 6A is a flow diagram depicting an alternative to a part
of the process depicted in FIG. 5A, in accordance with an
embodiment of the invention.
[0021] FIG. 6B is a flow diagram depicting an alternative to a part
of the process depicted in FIG. 5B, in accordance with an
embodiment of the invention.
[0022] FIG. 7 is a flow diagram depicting an alternative to a part
of the process depicted in FIG. 5, in accordance with an embodiment
of the invention.
[0023] FIGS. 8A and 8B are flow diagrams depicting representative
processes for providing gasoline from a Supplier to a Retailer in
accordance with embodiments of the invention.
[0024] FIG. 9 is flow diagram depicting a representative process
for transfer of gasoline by a first Consumer to a second Consumer
in accordance with an embodiment of the invention.
[0025] FIG. 10 is a flow diagram depicting a representative process
for exchanging a first type of gasoline for a second type of
gasoline in accordance with an embodiment of the invention.
[0026] FIGS. 11A and 11B are flow diagrams depicting representative
processes for making charitable contributions in connection with
dispensing gasoline in accordance with embodiments of the
invention.
[0027] FIG. 12 is a block diagram depicting a representative
financial services account system for commodity distribution in
accordance with a second embodiment of the invention.
[0028] FIG. 13 is a flow diagram depicting a representative process
for purchase of gasoline from a Supplier by a Consumer in
accordance with an embodiment of the invention.
[0029] FIG. 14A is a flow diagram depicting a representative
process for dispensing of gasoline to a Consumer in accordance with
an embodiment of the invention.
[0030] FIG. 14B is a flow diagram depicting a representative
process for dispensing of groceries to a Consumer in accordance
with an embodiment of the invention.
[0031] FIG. 15 is a flow diagram depicting a representative process
for dispensing gasoline when a Consumer does not have a sufficient
amount in a Gasoline part of a Consumer Account, in accordance with
an embodiment of the invention.
[0032] FIG. 16 is a block diagram depicting a representative point
of sale system which can be utilized by a retailer in accordance
with an embodiment of the invention.
[0033] FIG. 17 is a block diagram depicting a representative system
which can be utilized by a financial services entity in accordance
with an embodiment of the invention.
[0034] FIG. 18 is a block diagram depicting a representative system
which can be utilized by a supplier in accordance with an
embodiment of the invention.
DETAILED DESCRIPTION
[0035] Some embodiments of the present invention relate to a system
for purchase of a quantity of commodities by a Consumer to be
dispensed at various times in smaller quantities. For purposes of
this description, the commodities to be purchased and dispensed are
described as gasoline or groceries. However, embodiments of the
present invention are not limited to these commodities, and can be
applied to any commodities for which a Supplier provides, directly
or indirectly, the commodities to a Retailer for sale to Consumers.
As discussed above with respect to the prior art, a typical
distribution chain may include a manufacturer or producer 50, a
wholesaler, 40 and a distributor 30 who are each involved in
providing a commodity to the Retailer 20. Any of these types of
entities would be considered a Supplier within the meaning of the
present invention. Accordingly, the use of the term Supplier herein
may include one or more entities or companies which provides
commodities, such as gasoline or groceries, to a Retailer to be
sold to a Consumer.
[0036] A system for sale of commodities, such as gasoline or
groceries, in accordance with the present invention is illustrated
in FIG. 2. In the prior art as illustrated in FIG. 1, a Financial
Services Entity 61 can be positioned between the Consumer 10 and
the Retailer 20 to facilitate sales to the customer. In accordance
with the present invention, a Financial Services Entity 160 is
positioned between the customer 110 and a Supplier 130 to
facilitate sales by the Supplier 120 to the customer 110.
Commodities sold by the Supplier 130 directly to the customer 110
are dispensed by the Retailer 120 at various times on behalf of the
Supplier 130.
[0037] In accordance with an embodiment of the present invention,
as illustrated in FIG. 2, the Consumer 110 purchases 113 gasoline
or groceries from the Supplier 130 through the Financial Services
Entity 160. In order to purchase gasoline or groceries from the
Supplier 130, the Consumer 110 first creates an account with the
Financial Services Entity 160. An account is similar to a credit
and/or debit account as is known in the financial services
industry. The account allows the Financial Services Entity 160 to
make monetary payments on behalf of the Consumer 110 in accordance
with certain terms and conditions. The Financial Services Entity
160 can be any company which provides financial services to
consumers 110. In which case, the Consumer 110 may already have an
account with the Financial Services Entity 160 in some form and the
account can be altered, modified or added to in order to provide
all of the processes of the present invention. The Consumer 110
agrees to prepay or repay 114 the Financial Services Entity 160 for
all monetary payments 161 made on behalf of the Consumer 110, along
with any interest or fees to be charged in connection the payments.
The Supplier 130 provides 133 information to the Financial Services
Entity 160 regarding the types of gasoline or groceries, the
quantities, and the prices available for purchase by Consumers 110.
At the request 113 of the Consumer 110, the Financial Services
Entity 160 pays the Supplier 130 for gasoline or groceries of a
specified type, amount and price. Although the Financial Services
Entity 160 pays for the gasoline groceries, the actual gasoline or
groceries is not transferred from the Supplier 130 to the Financial
Services Entity 160 nor to the Consumer 110 at the time of
purchase. All gasoline or groceries purchased in accordance with
the system of the present invention is retained by the Supplier 130
and is dispensed by a Retailer 120 as described further below.
[0038] The system of the present invention can aid the Consumer 110
in budgeting and controlling costs. Price volatility can be
extremely difficult for consumers. With significant price swings,
costs can increase dramatically within a short period of time.
Larger purchases of commodities when prices are low can help
control such costs. However, the ability to store large quantities
of commodities can be extremely difficult. Storage space also
increases costs. Furthermore, many commodities, such as produce,
cannot be reasonably stored for long periods of time. Many
consumers do not have the capability to store large quantities.
Therefore, the present invention provides a mechanism for consumers
to make purchases in quantities to obtain discounts and take
advantage of the timing of lower prices without the problems of
storage.
[0039] A type of gasoline refers to any gasoline of a different
configuration. Types of gasoline may include gasolines with
different octane ratings (commonly 85, 87, 89, 90 and 93),
different additives (such as cleaners or ethanol), diesel fuel,
racing fuel, airplane fuel, etc. A type of gasoline may also
include gasoline available in different geographic areas.
[0040] Similarly, the system of the present invention can be used
for the sale of groceries. With respect to FIG. 2, the only change
necessary is to change "gasoline" to "groceries". Instead of types
of gasoline, the types of the commodity are different groceries,
including brands and sizes. Whereas types of gasoline are generally
small in number, groceries include hundreds of SKU. The system of
the present invention can be scaled to include the hundreds of SKUs
as different types of the commodities.
[0041] FIGS. 16-18 illustrate an embodiment of the systems utilized
at the retailer 120, financial services entity 160, and supplier
130 to create a complete sales system according to the present
invention. It is known to utilize specialized computerized system
for sales of commodities. However, the specific systems utilized in
the present invention are not known including communications
between the systems represented in FIGS. 16-18.
[0042] FIG. 16 represents a point of sale system 16 which can be
utilized at a retailer 120. A point of sale system 16 is used to
collate prices and quantities of commodities and to verify
collection of payments to complete purchases. Examples of point of
sale systems include checkout lanes for groceries or automated
gasoline pumps for gasoline. A point of sale system 16 may be
contained in a single device, such as a computerized cash register,
but more typically would include several different connected
devices. As illustrated in FIG. 16, the point of sale system 16
includes a programmed processor 1601 for performing various steps
of the present invention and for operating the various connected
devices. Although a single processor 1601 is illustrated, the
present invention may include multiple connected processors which
perform different functions in operating devices and communicating
information between the processors. Connected to the processor 1601
are various devices for performing various functions in connection
with the sale of commodities. A barcode reader 1602 can read
barcodes on commodity packaging in order to input and collect
information about the commodities being purchased. The barcode
reader 1602 can also read a barcode on a card or displayed on a
smartphone to identify a Consumer 110. A keypad 1603 is used to
input information about the commodities and/or Consumer 110. For
example, the keypad 1603 can be used to input SKUs for the
commodities being purchased. The keypad 1603 may also be used to
input an account number to identify the Consumer 110 and for the
Consumer 110 to input a PIN, password, or code as additional
security during identification of the Consumer 110. A card reader
1604 is used to read a magnetic strip or chip on a card to obtain
information identifying the Consumer 110. A printer 1605 can output
a receipt for the purchase of the commodities. A display 1606 can
be used to communicate information to the Consumer 110. A
transmitter/receiver 1607 connects the point of sale system 16 to
other systems utilized in the present invention. The
transmitter/receiver 1607 may be directly connected to the other
systems of the present invention, may be connected over a telephone
line with a telephone dialer, or may be connected over the Internet
with a wired or wireless connection to an Internet access point.
The transmitter/receiver 1607 includes appropriate security
protocols for authenticating transmissions to the financial
processing system 17 (illustrated in FIG. 17) and/or the supplier
processing system 18 (illustrated in FIG. 18). A memory 1608
provides storage for the processor in performing the steps in
operation of the point of sale system 16. Programming instructions
providing the steps for operation of the point of sale system 16
are also stored the memory 1608.
[0043] FIG. 17 illustrates a financial processing system 17
according to an embodiment of the present invention which can be
utilized by a financial services entity 160 to interact with the
other entities according to the present invention. As with the
point of sale system 16, the financial processing system 17 may be
incorporated into a single device, but preferably includes several
connected devices. The financial processing system 17 includes a
processor 1701 to control the system and to carry out the functions
for operation of the system of the present invention. The processor
1701 is connected to a keyboard 1702 and display 1703 for control
by an operator. A database 1704 includes information about accounts
(discussed below) and is accessed to verify and update amounts in
various accounts as required in performing the functions of the
invention. A web server 1705 provides a connection to the Internet
so that the Consumer 110 to access their account information and to
make purchases of commodities through the system of the present
invention. A funds transfer system 1706 operates to transfer
monetary funds to the Supplier 130 and/or Retailer 120 as discussed
herein. As with the point of sale system 16, the financial
processing system 17 includes a transmitter/receiver 1707 to
communicate with the other systems of the present invention. The
transmitter/receiver 1707 would operate in a similar manner to the
transmitter/receiver 1607 of the point of sale system 16. A memory
1708 provides storage for the processor in performing the steps in
operation of the financial processing system 17. Programming
instructions providing the steps for operation of the financial
processing system 17 are also stored the memory 1708.
[0044] FIG. 18 illustrates a supplier processing system 18
according to an embodiment of the present invention. As with the
other systems of the present invention, the supplier processing
system 18 can be contained in a single device or, preferably,
includes several connected devices. The supplier processing system
18 includes a processor 1801, display 1802 and keyboard 1803. A
database 1804 includes account information relating to the
financial services entity accounts and the retailer accounts as
discussed below. A delivery system 1805 operates to deliver
commodities to Retailers 120. The quantities, timing and costs
associated with delivery of commodities are controlled by the
supplier processing system 18 through the delivery system 1805. An
accounts receivable system 1806 is used to charge Retailers 120 for
the costs of commodities delivered with appropriate discounts and
deductions in accordance with the present invention. A funds
transfer system 1807 is used to receive monetary funds from the
financial services entity 160 and to transfer monetary funds, as
necessary, to the Retailer 120 as discussed below regarding
payments of monetary funds. As with the other systems of the
present invention, the supplier processing system 18 includes a
transmitter/receiver 1808. The transmitter/receiver 1808 operates
in a manner similar to the other transmitter/receivers (1607, 1707)
to transmit and receive the information between the various
entities in carrying out the present invention. A memory 1809
provides storage for the processor in performing the steps in
operation of the supplier processing system 18. Programming
instructions providing the steps for operation of the supplier
processing system 18 are also stored the memory 1809.
[0045] It should be appreciated that instructions for performing
point of sale, financial processing, supplier processing, and/or
other functions need not be stored on separate memories 1608, 1708
and 1809. These and other instructions may be stored on any
suitable number of physical memories and/or other computer-readable
storage media. Further, it should be appreciated that the
characterization of components 1608, 1708 and 1809 as "memories"
does not connote that these components support only read-only
access to data stored thereon. Any or all of memories 1608, 1708
and 1809 may support volatile (e.g., random access memory) storage,
non-volatile storage (e.g., read-only memory), or a combination
thereof.
[0046] Representative accounts utilized in an embodiment of the
present invention are illustrated in FIG. 3. Accounts are used by
the Financial Services Entity 160 and the Supplier 130 to track the
purchase, sale, and dispensing of gasoline (or groceries or other
commodities) between them and with the Consumer 110. The accounts
are maintained in the databases 1704, 1804 of the financial
processing system 17 and the supplier processing system 18,
respectively. There is a Supplier account 230 maintained by the
Supplier 130 relating to gasoline paid for by the Financial
Services Entity 160. The Financial Services Entity 160 maintains a
Consumer account 260 for each Consumer 110 who participates in the
system of the present invention.
[0047] The Supplier account includes one or more gasoline accounts
231, 232. There is a gasoline account 231, 232 for each type of
gasoline offered for sale by the Supplier. The gasoline accounts
231, 232 represent the amount of gasoline, typically in gallons, of
each type which has been paid for by the Financial Services Entity
160. For groceries or other commodities, an account 231, 232 would
exist for each type of commodity, generally referenced by SKU
numbers.
[0048] The Financial Services Entity 160 makes a payment, between
the funds transfer systems 1706, 1807, to the Supplier 130 for a
specific type and amount of gasoline on behalf of a Consumers 110.
Information regarding the type and quantity of gasoline (or other
commodity) is sent from transmitter 1707 to transmitter/receiver
1808. Upon receiving payment and transferred information, the
gasoline account 231, 232 for the type of gasoline is credited with
the amount of gasoline corresponding to payment amount. When
gasoline is dispensed utilizing the system of the present
invention, as discussed below, the gasoline account 231, 232 for
the type of gasoline is reduced by the amount of gasoline
dispensed. Thus, the account 230 represents the amount of gasoline
of each type which has been purchased by the Financial Services
Entity 160 on behalf of Consumers but not yet dispensed.
[0049] The Supplier 130 also maintains a Retailer account 240 for
each Retailer 120 to whom it supplies gasoline. As is known in the
gasoline industry, the Retailer account 240 has a monetary part 241
which is used by the Supplier to track money paid by and/or owed by
the Retailer for gasoline obtained by the Retailer 120 from the
Supplier 130. Typically, the Retailer 120 purchases gasoline from
the Supplier 130 and the Supplier 130 delivers the gasoline to the
tanks of the Retailer 120. The amount of gasoline delivered by the
Supplier 130 may depend upon the amount purchased by the Retailer
120 or by the space available in the tanks at the time of delivery.
The purchase price of the gasoline to the Retailer 120 may depend
upon the prevailing rates being charged by the Supplier 130 and any
contractual agreements between the Retailer 110 and the Supplier
130 for surcharges or discounts. Depending upon the arrangements
between the Supplier 130 and the Retailer 120, the delivered
gasoline are deducted. Often, the Supplier 130 provides credit to
the Retailer 120 for gasoline delivered which must be paid within
set times. In this case, the cost of the gasoline is debited from
the monetary part 241 of the Retailer account 240, and the account
is typically negative representing amounts owed by the Retailer
120. Amounts owed by the Retailer 120 are periodically processed by
the accounts receivable system 1806 of the supplier processing
system 18 to generate charges to the Retailer 120.
[0050] In accordance with an embodiment of the present invention,
the Retailer account 240 may also include one or more gasoline
parts 242, 243. Gasoline accounts represent gasoline dispensed by
the Retailer 120 to the Consumer 110 in the system of the present
invention. Each gasoline part 242, 243 represents a specified type
of gasoline. For other commodities, the Retailer account 240 would
have parts 242, 243 corresponding to each type of commodity,
typically associated with SKUs.
[0051] As noted previously, other entities may be in the
distribution chain between the Supplier 160 and the Retailer 120.
In such a case, each entity would have appropriate accounts
corresponding to the Retailer account 240 shown in FIG. 3. Gasoline
parts and monetary parts would be debited and credited up and down
the distribution chain in accordance with each payment or transfer
of gasoline. For simplicity, the present invention is illustrated
with a Supplier 160 providing gasoline directly to a Retailer 120.
However, the present invention could be implemented by those of
skill in the art with other entities in the distribution chain
without departing from the spirit of the invention.
[0052] A Consumer account 260 also has several parts. The Consumer
account 260 includes a monetary part 261 to track monies paid by
and on behalf of Consumers. This part is similar to accounts known
in the financial services industry. When the Financial Services
Entity 160 makes a payment on behalf of a Consumer 110, the amount
of the payment is debited from the monetary part 261 of the
Consumer account 260. When the Consumer 110 makes a payment 113 (in
FIG. 2), the amount of the payment is credited to the monetary part
261 of the Consumer account 260. Any applicable interest or fees
are also debited from the monetary part 261 of the Consumer account
260 at appropriate times. Thus, at all times, the monetary part 261
of the Consumer account 260 represent the amount of money owed by
the Consumer 110 to the Financial Services Entity 160. In
accordance with contractual relations between the Consumer 110 and
the Financial Services Entity 160, the Financial Services Entity
160 may require payments 113 of specified amounts from the Consumer
and/or refuse to pay the Supplier for additional gasoline based
upon the value in the monetary part 261 of the Consumer account
260.
[0053] The Consumer account 260 also includes one or more gasoline
parts 262, 263 representing quantities of different types of
gasoline. The gasoline parts 262, 263 for a Consumer are credited
with the amount of gasoline of a specified type paid for by the
Financial Services Entity 160 on behalf of that Consumer 110. The
gasoline parts 262, 263 are debited when gasoline of a specified
type is dispensed to that Consumer 110.
[0054] FIGS. 4-15 are flow charts representing payments made,
account credits and debits, and gasoline dispensed in accordance
with an embodiment of the present invention and several variations
of that embodiment. The flow charts in FIGS. 4-15 represent the
transfer of information and/or funds between and among the Consumer
110, Retailer 120, Supplier 130 and Financial Services Entity 160.
For information being transferred, the information would be
transmitted and received by the corresponding transmitter/receiver
1607, 1707, 1808 of the point of sale system 16, financial
processing system 17, and supplier processing system 18,
respectively. The transfer of information can be done in any known
manner for transmitting and receiving electronic information. The
processed for transferring and processing information in each
system will not be further discussed in connection with FIGS. 4-15.
Those of skill in the art would be able to implement the enumerated
actions through use of the systems discussed above with respect to
FIGS. 16-18.
[0055] FIG. 4 is a flow diagram representing purchase of gasoline
from the Supplier 160 and crediting of appropriate accounts 240,
260 upon such purchase. FIG. 4 represents three entities involved
in the process of purchasing gasoline, the Consumer 110, the
Financial Services Entity 160 and the Supplier 130. The process
illustrated herein presumes that the Consumer has already opened an
account with the Financial Services Entity 160 with defined credit
limits and payment terms. At step 401, the Supplier 130 provides
sales offer information to the Financial Services Entity 160. Sales
offer information may include types of gasoline with corresponding
amounts available for purchase and prices. At step 402, the
Financial Services Entity 160 provides the sale offer information
to the Consumer 110. Preferably, the information is provided by
means of a web site or computer application, such as via one or
more mobile applications. The web server 1705 of the financial
processing system 17 includes the sales offer information which can
be accessed by the Consumer 110. The Consumer 110 connects to the
web server 1705 from a computer, smartphone or other Internet
access device. The Consumer would sign into the website or computer
application to obtain the sales offer information and to select and
make purchases. At step 403, the Consumer 110 uses the website or
computer application to request a purchase of gasoline in
accordance with the terms of the sales offer information. The
purchase request would include the type of gasoline and the amount
to be purchased. The purchase request is sent to the Financial
Services Entity 160. At step 404, the Financial Services Entity 160
verifies that the Consumer 110 has sufficient credit and/or funds
in the monetary part 261 (FIG. 3) of the Consumer account 260 (FIG.
3) to complete the purchase. If there are insufficient funds, the
Financial Services Entity 160 cancels the purchase (step 405) and
informs the Consumer, through the website or computer application,
that the purchase has been canceled (step 406). If there are
sufficient credit or funds in the monetary part of the Financial
Services Entity 160 debits funds for the total cost of the gasoline
from the monetary part 261 (FIG. 3) of the Consumer account 260
(FIG. 3) (step 410) and credits the amount of gasoline to one of
the gasoline parts 262, 263 (FIG. 3) of the Consumer account 260
(FIG. 3) for the type of gasoline purchased (step 409). The
financial services company 160 transfers funds to the Supplier 130
for the amount of the purchase (step 407) and provides information
regarding the type of gasoline and amount purchased. The Supplier
receives the funds and credits one of the gasoline accounts 231,
232 for the amount of gasoline purchased (step 408) for the type of
gasoline purchased.
[0056] For groceries (or other commodities), the processes of FIG.
4 would not change substantially. Sales offer information is
provided to the Financial Services Entity 160. The sales offer
information would include the groceries available for purchase, the
quantities and the prices. The sales offer information may have
different prices for different quantities of groceries or may
include various discounts based upon total amounts of groceries
purchased. Upon purchase by the Consumer 110, the appropriate
grocery parts of the accounts are updated in a manner similar to
gasoline accounts. Payment is made in the same manner.
[0057] FIG. 5A is a flow diagram representing dispensing of
gasoline from a Retailer 120 and debiting of appropriate accounts.
At step 501, the Consumer 110 starts the process for dispensing of
gasoline through input of information regarding the Consumer
account 260 (FIG. 3) with the Financial Services Entity 160. This
step may be accomplished through use of a card at the gasoline pump
of the Retailer 120. Alternatively, it can be commenced by entry of
information by a clerk at the Retailer 120. The Consumer 110 also
selects the type of gasoline. The Retailer 120 sends the
information (step 502) about the Consumer 110, and the type of
gasoline selected, through the interconnected computers to the
Financial Services Entity 160. The Financial Services Entity 160
verifies that the Consumer 110 has a balance in the Gasoline part
262, 263 of the Consumer Account 260 for the type of gasoline
selected (step 503) and transfers an approval to the Retailer 120
(step 503). Preferably, the approval includes the number of gallons
of gasoline of the type selected available in a Gasoline part 262,
263 of the Consumer Account 260. Upon receipt of the approval, the
Retailer 120 allows the selected type of gasoline to be dispensed
from the pump (step 505). If the Consumer 110 does not have
sufficient gasoline in the Gasoline part 262, 263 of the Consumer
Account 260, the Financial Services Entity denies dispensing of
gasoline and the Retailer 120 terminates dispensing (step 504).
This is similar to a credit card being declined when attempting to
purchase gas under the prior art.
[0058] When approved, the Consumer 110 dispenses gasoline from the
pump (step 506). After the gasoline is dispensed, the Retailer 120
transfers the amount of gasoline dispensed to both the Supplier 130
and the Financial Services Entity 160 (step 507). Upon receipt of
the amount of gasoline dispensed, the Supplier 130 debits the
gasoline account of the financial services company (step 509) and
credits the Retailer account (step 510). The processes for
crediting the Retailer account are discussed below with respect to
FIGS. 8A and 8B. The Financial Services Entity 160 debits the
Gasoline part 262, 263 of the Consumer Account 260 (step 611) for
the type of gasoline dispensed.
[0059] An alternative embodiment of the invention is also
illustrated in FIG. 5A. In this embodiment, the Retailer does not
transmit the amount of gasoline dispensed to the Supplier 130.
Instead, upon receipt of the amount of gasoline dispensed from the
Retailer 120, the Financial Services Entity 160 transmits that
information to the Supplier 130 (step 511). The Supplier 130 takes
the same steps described above to debit the Gasoline Account 231,
232 (step 509) and credit the Retailer Account 240 (step 510) in
response to the information from the Financial Services Entity 160
as it would if it had received the information from Retailer
120.
[0060] FIG. 5B illustrates an embodiment of the present invention
in connection with the sale of groceries or similar commodities.
With gasoline, the Consumer 110 dispenses a single type of gasoline
as a single purchase. For groceries, the Consumer 110 would have
many different types of groceries in a single purchase. For each of
the groceries, the accounts would need to be checked to determine
if that specific grocery item had sufficient quantity available in
the consumer accounts. Therefore, the process is slightly changed,
as illustrated in FIG. 5B to change the approval processes. At step
520, the Consumer 110 selects the desired groceries and enters them
into the point of sale system 16 at the Retailer. The Consumer 110
can enter the groceries in known manners using the barcode reader
1602 and/or keypad 1603. The Consumer 110 would also enter account
information using the keypad 1603 or card reader 1604. After all of
the groceries have been entered, the Retailer 120 transmits the
entire grocery list to the Financial Services Entity 160 at step
521. At step 521, the Financial Services Entity 160 checks the
Consumer accounts to determine quantities of each grocery item
available in those accounts. The Financial Services Entity 160
transmits to the Retailer an approved list of groceries and
quantities for which the Consumer 110 has sufficient amounts in the
accounts. At step 523, the Retailer 120 removes the cost for all
approved grocery items. The Consumer 110 would then pay any
remaining balance at step 524. There would be a remaining balance
if the Consumer 110 was purchasing more of an item than was
available in their account for that item or if an item was not part
of the sales offer information from the Supplier 130. The Consumer
110 would pay the balance in the ordinary manner with cash, credit,
or debit at the Retailer 120. The Consumer 110 could use the
monetary part of the consumer account with the Financial Services
Entity 160 to make the payment in which case, the Financial
Services Entity 160 would function like any other credit or debit
card company. After the Retailer 120 receives payment at step 252,
the Consumer 110 is able to leave with the groceries. At step 526,
the Retailer 120 transmits the approved items dispensed to the
Consumer 110 to both the Supplier 130 and Financial Services Entity
160. As with the embodiment illustrated in FIG. 5A, the Financial
Services Entity debits the dispensed amounts from the consumer
accounts at step 527. The Supplier 130 debits the dispensed amounts
from the Financial Services Entity accounts at step 529 and credits
the Retailer accounts at step 530. Alternatively, the Financial
Services Entity 160 can transmit the dispensed amounts to the
Supplier 130 at step 528.
[0061] In the embodiments of the invention illustrated in FIGS. 5A
and 5B, the Retailer 120 communicates with the Financial Services
Entity 160 to obtain approval to dispense gasoline or groceries. In
another embodiment, illustrated in FIGS. 6A and 6B, the Retailer
120 communicates only with the Supplier 130. In this embodiment, as
illustrated in FIG. 6A, the Retailer performs the same steps, as in
the prior embodiment, of transmitting a request to dispense
gasoline (step 502), canceling the dispensing of gasoline (step
504), allowing dispensing of gasoline (step 505) and transmitting
the amount of gasoline dispensed (step 507), which are designated
with the same reference numbers as in FIG. 5. However, the
communications go to the Supplier 130 instead of the Financial
Services Entity 160. Upon receipt of a request to dispense
gasoline, the Suppler 130 forwards the request to the Financial
Services Entity 160. As in the prior embodiment, the Financial
Services Entity 160 determines if the Consumer 110 has sufficient
gasoline in the Gasoline part 262, 263 of the Consumer Account 260.
The approval (or denial) is transmitted to the Supplier 130, which
forwards the approval (or denial) to the Retailer 120 (steps 604,
605). After the gasoline is dispensed, the Retailer transmits the
amount dispensed only the Supplier 130. As in the previous
embodiment, the Supplier 130 debits the dispensed amount from one
of the Gasoline Accounts 231, 232 and credits the Retailer Account
240 (steps 609, 610). The Supplier 130 also transmits the amount of
gasoline dispensed to the Financial Services Entity 160. The
Financial Services Entity 160 debits the amount of gasoline
dispensed from one of the Gasoline parts 262, 263 of the Consumer
Account 260.
[0062] Similarly, in this embodiment with respect to the sale of
groceries, as illustrated in FIG. 6B, the Retailer 120 performs the
same steps as illustrated in FIG. 6A. At step 521, the grocery list
is transmitted. However, in this embodiment, the grocery list is
transmitted to the Supplier 130, not the Financial Services Entity
160. The Supplier 120 retransmits the grocery list to the Financial
Services Entity 160 at step 611. As in the embodiment of FIG. 6A,
at step 522, the Financial Services Entity 160 checks the groceries
accounts to determine the quantities available in the Consumer
accounts for each grocery item. An approval for groceries,
including the amounts approved, is transmitted to the Supplier 130.
The Supplier 130 transmits the approval to the Retailer at step
602. The Retailer removes all charges for the approved items from
the total at step 523, and the Consumer 110 pays any remaining
balance due for groceries. After receiving payment, at step 525,
the Retailer 120 transmits the approved and purchased items back to
the Supplier 130. The Supplier 130 debits the dispensed items from
the grocery accounts at step 529 and credits the Retailer account
for those dispensed items at step 530. The Supplier 120 also
transmits the dispensed items to the Financial Services Entity 160
which debits the dispensed items from the Consumer account at step
527.
[0063] According to an embodiment of the invention, the Retailer
120 may limit the amount of gasoline which can be dispensed based
upon the approval from the Financial Services Entity 160.
Alternatively, the approval from the Financial Services Entity 160
may allow the Consumer 110 to dispense more gasoline than is in the
gasoline account. FIG. 7 is flow diagram representing the steps
which occur upon such approval being sent to the Retailer 120. The
Retailer preforms the same initial steps in dispensing gasoline. It
transmits, directly or indirectly, a request to dispense gasoline
(step 502) and either starts dispensing gasoline (step 505) or
cancels dispensing of gasoline (504) based upon receipt of an
approve (or denial) from the Financial Services Entity 160.
[0064] As in prior embodiments, the Financial Services Entity 160,
determines if the Consumer 110 has a sufficient amount in a
Gasoline part 262, 263 of the Consumer Account 260 (step 703). If
the Consumer does, the Financial Services Entity transmits an
approval to the Retailer 120 to start dispensing gasoline (step
505). However, if the Consumer does not have a sufficient amount,
the Financial Services Entity 160 verifies if the Consumer 110 has
sufficient funds, either through prepayment or as credit, in the
Monetary part 261 of the Consumer Account 260 to purchase
additional gasoline (step 704). If the Consumer has sufficient
funds, the Financial Services Entity 160 transmits an approval to
dispense gasoline. This approval includes an approved amount of
gasoline corresponding to the amount in the Gasoline part 262, 263
of the Consumer Account 260. The approval also includes an
indication that an additional amount of gasoline can be dispensed
and will be paid for.
[0065] The Retailer 120 does not limit the amount of gasoline which
can be dispensed to the approval amount. Instead, after the total
gasoline has been dispensed, the Retailer determines if the amount
dispensed exceeds the approval amount of gasoline (step 705). If
the dispensed amount is below the approval amount, the Retailer 120
transmits the dispensed amount to the Financial Services Entity
(step 507). The Retailer may also transmit the dispensed amount to
the Supplier 130 as discussed above with respect to FIG. 5. If the
dispensed amount exceeds the approval amount, the Retailer 120
transmits the approval amount, the amount of gasoline dispensed
over the approval amount, and the cost of the extra gasoline at the
current Retailer price (step 706). The Retailer may also transmit
the approval amount to the Supplier 130, which represents the
amount of gasoline dispensed which was pre-purchased from the
Supplier 130. Alternatively, the Financial Services Entity 160
transmits the information to the Supplier. The Supplier 130 debits
and credits accounts in the same manner as described above with
respect to FIGS. 5 and 6. The Financial Services Entity 160 debits
either the dispensed amount (if less than the approval amount) or
the approval amount from a Gasoline part 262, 263 of the Consumer
Account 260. The Financial Services Entity further debits the cost
of the extra gasoline from the Monetary part 261 of the Consumer
Account (step 708) and transfers funds to the Retailer 120 to cover
the cost of gasoline over the approval amount of gasoline (step
708). The debiting of the Monetary part of the Consumer Account and
the payment of funds to the Retailer 120 works in the same manner
as it would for an ordinary credit account on behalf of the
Consumer 110.
[0066] Since the Supplier 130 has sold the gasoline and the
Retailer 110 has dispensed the gasoline, the Supplier 130 needs to
compensate the Retailer 110 for the gasoline which has been
dispensed. Compensation is provided the Supplier 130 through the
crediting of the Retailer Account 240 (step 510 in FIG. 5). Since
the Supplier 130 delivers gasoline to the Retailer 120 for sale,
crediting of the Retailer Account 240 is used to offset amounts
which would otherwise be owed by the Retailer 120 to the Supplier
130. FIGS. 8A and 8B are flow diagrams representing two embodiments
of the invention for crediting of the Retailer account by the
Supplier 130.
[0067] In the embodiment of FIG. 8A, the Retailer account includes
a Monetary part 241 (FIG. 3) and one or more Gasoline parts 242,
243 corresponding to types of gasoline sold by the Retailer 120.
The Retailer 120 transmits the amount and type of gasoline
dispensed, directly or indirectly, to the Supplier 130 (step 507),
as discussed above. Upon receipt of the information from the
Retailer that gasoline has been dispensed (step 801), the Supplier
130 credits the gasoline account of the Retailer for the amount of
gasoline dispensed (step 802). When gasoline is later delivered to
the Retailer (step 806), the amount of gasoline in the Gasoline
part 242, 243 of the Retailer Account 240 is deducted from the
delivered amount (step 808) before charges are applied to the
Monetary part 241 of the Retailer Account 240 (step 809). In this
manner, gasoline is supplied to the Retailer to cover the amounts
dispensed under the system of the present invention without charge
and without regard to the prices of gasoline at the times it was
acquired by the Retailer 120, dispensed by the Retailer 120, or
delivered by the Supplier 130.
[0068] However, the Retailer 120 also has received no profit on the
dispensed gasoline, nor have any expenses been covered relating to
the provision of the dispensed gasoline. Preferably, the Supplier
130 would provide some compensation to the Retailer 120 for
providing the gasoline. Such compensation could be built into the
prices charged by the Supplier 130 to the Retailer 120 for
gasoline. Alternatively, the Supplier 130 can provide a credit to
the Retailer 120 based upon the amount of gasoline dispensed.
Accordingly, upon receipt of an amount of gasoline dispensed (step
801), the Supplier determines a credit amount to be provided to the
Retailer 120 (step 803). The credit amount could correspond to lost
profit and expenses (or some portion thereof) on a per gallon basis
or some other way. The credit amount is credited to the Monetary
part 241 of the Retailer Account 240. Any credits in the Monetary
part 241 of the Retailer Account 240 are applied against amounts
owed by the Retailer 120 for gasoline delivered to the Retailer 120
or in the future. Thus, the Supplier 130 provides monetary
compensation (135 in FIG. 2) to the Retailer for dispensing
gasoline on its behalf under the system of the present
invention.
[0069] FIG. 8B illustrates the process for another embodiment of
the invention in which the Retailer Account 240 does not include a
Gasoline parts 242, 243. In this embodiment, when the dispensed
amount is received (step 801), the Supplier 130 determines a
monetary equivalent for the amount of gasoline dispensed (step
810). Preferable, the monetary equivalent would be based upon the
current price at which the Supplier 130 sells gasoline to the
Retailer 120 plus an amount for profit and expenses. The Supplier
130 credits the Monetary part 241 of the Retailer Account 240 with
the determined monetary equivalent (step 811). As in the previous
embodiment, any credits in the Monetary part 241 of the Retailer
Account 240 are applied against amounts owed by the Retailer 120
for delivery of gasoline from the Supplier 130.
[0070] For groceries, the processes illustrated in FIGS. 8A and 8B
are not significantly different than for gasoline. In FIG. 8A, at
step 507, the Retailer transmits the list of dispensed grocery
items and quantities, rather than a single amount of gasoline.
Alternatively, the Retailer 120 could transmit each item and
quantity in separate transactions, in which case, it would be
identical to dispensed amounts of a type of gasoline. Upon receipt
of the dispensed amounts of groceries, the Supplier credits the
grocery parts (instead of the gasoline part) at step 802. The
Supplier also determines a profit credit and credits the monetary
part of the Retailer account at steps 802 and 803. When the
Retailer 120 needs additional stock, it requests a delivery of
grocery items from the Supplier at step 805. The Supplier 130
delivers the groceries and deducts all credited grocery items from
the grocery parts of the Retailer account from the amounts
delivered to the Retailer 120 before determining charges for the
groceries delivered. The Supplier debits the monetary part of the
Retailer account for the adjusted amount of groceries delivered.
The Retailer 120 only owes for the adjusted amounts, less any
remaining credits from the profit credits determinations.
[0071] The process illustrated in FIG. 8B would also be applicable
to the sale of groceries. In this embodiment, the Retailer account
does not include grocery parts. Upon receipt of dispensed
groceries, the Supplier determines a dispensing credit for the
dispensed groceries. The dispensing credit would be based upon the
current prices charged by the Supplier to the Retailer for each
grocery item plus an amount compensating the Retailer for its
forgone profit and costs associated with a sale of those items. The
Retailer account is credited with the determined amount. When
future deliveries are made to the Retailer, any credits in the
Retailer account offset a portion of the charges for the delivered
items.
[0072] According to an embodiment of the invention, a Consumer 110
can transfer amounts in a Gasoline part 262, 263 of the Consumer
Account 260 to the Consumer Account 270 another Consumer 111. FIG.
9 is a flow diagram representing a such as transfer according to an
embodiment of the invention. The Consumer 110 accesses account
information at the Financial Services Entity and selects an amount
and type of gasoline available in a Gasoline part 262, 263 of the
Consumer Account 260. The Consumer 110 transfers the amount and
type of gasoline to the Financial Services Entity 160 along with
information about the Consumer 111 to receive the gasoline amount
(step 901). Upon receipt of the transfer information, the Financial
Services Entity 160 verifies that the Consumer 110 has a sufficient
amount in the Gasoline part 262, 263 of the Consumer Account 260
(step 902) and that Consumer 111 has a Consumer Account 270 (step
904). If Consumer 110 does not have a sufficient amount in the
Gasoline part 262, 263 of the Consumer Account 260 or Consumer 111
does not have a Consumer Account 270, the transfer transaction is
canceled (step 903). Otherwise, the Financial Services Entity 160
debits the Gasoline part 262 of the Consumer Account 260 for the
Consumer 110 (step 905) and credits a Gasoline part 272 of the
Consumer Account 270 of the other Consumer 111 (step 906). The
Financial Services Entity 160 informs the Consumer 110 that the
transfer has been completed (step 908). The Financial Services
Entity may charge a fee in connection with transfer of gasoline
amounts between Consumer accounts. If a fee is charged, a debit is
made to the Monetary part 261 of the Consumer Account 260. The
Financial Services Entity 160 may also limit quantities of gasoline
which can be transferred or set other limitations in relations to
transfers between accounts. Similarly, a Consumer 110 would utilize
the same process to transfer amounts of groceries to another
Consumer.
[0073] In the preceding embodiments of the invention, the Supplier
130 has tracked purchasing and dispensing of gasoline based upon
gasoline type. The Supplier 130 could allow the Financial Services
Entity 160 to exchange one type of gasoline for another type. The
Supplier 130 would provide ratios for such conversions. This would
allow a Consumer 110 to dispense gasoline of a different type than
was originally purchased. FIG. 10 is a flow diagram representing
transfer of amounts between different Gasoline parts 262, 263 of a
Consumer Account 260. The Consumer 110 accesses account information
at the Financial Services Entity 160 and selects an amount and
first type of gasoline available in a gasoline part of the customer
account to be converted to second type of gasoline (step 1001). The
amount and types of gasoline are transferred to the Financial
Services Entity 160. The Financial Services Entity 160 verifies
that the Consumer 110 has a sufficient amount in the Gasoline part
262 of the Consumer Account for the first type of gasoline (step
1002) and debits that amount (step 1004). The Financial Services
Entity 160 further applies the appropriate conversion ratio to the
amount of gasoline (step 1005) and credits the gasoline account for
second type of gasoline for the amount after the conversion ratio
has been applied (step 1006). The Financial Services Entity 160
further transfers to the Supplier 130 the amount of gasoline to be
converted and the first and second types of gasoline. (not shown)
Upon receipt of this information, the Supplier similarly debits the
gasoline account for the first type of gasoline for the amount and
credits the gasoline account for the second type of gasoline for
the amount after applying a conversion ratio. The Financial
Services Entity 160 informs the Consumer 110 that the exchange has
been made. As with transfers between accounts, the Financial
Services Entity 160 may charge a fee to perform an exchange. The
Financial Services Entity 160 debits the Monetary part 261 of the
Consumer Account 260 to cover any fees. The Supplier 130 may also
charge a fee for an exchange. In such a case, the Financial
Services Entity 160 would transfer funds to the Supplier 130 to
cover any such fee.
[0074] A similar process could be used in connection with
groceries. However, because groceries are not as fungible as
gasoline types, the system could limit possible exchanges. For
example, an exchange might be between different sizes of the same
product or between different brands of a product. The process is
the same, but only some items would have conversion ratios. Those
items without conversion ratios could not be exchanged within the
system.
[0075] Many financial services companies provide various benefits
to Consumers in addition to control of finances. These benefits may
include cash back on purchases, flight miles for purchases, etc.
One benefit from financial services companies and/or Retailers
relate to contributions to charitable organizations. These may
include the opportunity for the Consumer to round up the purchase
amount to an even dollar amount with the extra going to a
charitable organization. Embodiments of the present invention can
also be used to provide contributions to charitable organizations.
Those contributions may be monetary or may be made in the form of
credits to a Gasoline part 262, 263 of a Consumer Account 260 for a
charitable organization. When purchasing gasoline, the Consumer may
include a portion of the purchase to go to the gasoline account for
a designated charitable organization. The Consumer may also
transfer amounts of gasoline from the Consumer account to a
charitable organization account at any time, as in transferring to
another Consumer account. FIGS. 11A and 11B illustrate other
alternatives for charitable giving in connection with the
dispensing of gasoline.
[0076] As illustrated in FIG. 11A, upon receipt of the amount of
dispensed gasoline from the Retailer (step 1101), the Financial
Services Entity 160 determines an adjusted amount of gasoline
greater than the dispensed amount (step 1102). The adjusted amount
may be based upon a next higher even amount of gallons of gasoline.
Alternatively, the adjusted amount may be based upon a set amount,
such as the next higher 5 gallons or 10 gallons. Alternatively, the
adjusted amount may be a percentage of the dispensed amount. The
Consumer 110 may be able to select the manner of determining the
adjusted amount as part of setting up the Consumer Account 260. The
Financial Services Entity 160 debits the Gasoline part 262, 263 of
the Consumer Account 260 the adjusted amount of gasoline (step
1104). The Financial Services Company then credits the difference
between the adjusted amount and the dispensed amount of gasoline to
a Gasoline part of a Consumer Account for the charitable
organization (step 1105). The Charitable Organization then has
access to gasoline to use for its charitable purchases.
[0077] In another embodiment, the Consumer 110 makes monetary
contributions to the charitable organization based upon dispensed
gasoline as illustrated in FIG. 10B. Upon receipt of the amount of
dispensed gasoline from the Retailer 130 (step 1101), the Financial
Services Entity 160 debits the dispensed amount from a Gasoline
part 262, 263 of the Consumer Account 260 (step 1105) as in
ordinary operation of the system of the present invention. The
Financial Services Entity 160 then determines a Contribution Amount
based upon the dispensed amount of gasoline. The Contribution
Amount may depend upon the value of the gasoline or may be a flat
amount. The Contribution Amount may be based upon the difference in
prices of gasoline between the times that the Consumer 110
purchased and dispensed the gasoline. The Contribution Amount is
debited from the Monetary part 261 of the Consumer Account 260. The
Contribution Amount is also credited to the Monetary part 261 of a
Consumer Account 260 of a charitable organization. Alternatively,
the Financial Services Entity 160 can transfer funds to a
charitable organization corresponding to the Contribution Amount.
In this way, a portion of the savings experienced by the Consumer
through the system of the present invention can be contributed to a
charitable organization.
[0078] FIGS. 12-15 illustrate an embodiment of the present
invention in which the Supplier 130 maintains the Customer
Accounts. In such a case, the Financial Services Entity 160 in many
ways functions like a regular credit company. FIG. 12 illustrates
the accounts utilized in this embodiment of the invention. The
Financial Services Entity 160 maintains a Customer Account 280
which only includes a Monetary part 281. Credits and debits are
made to the Monetary part 281 of the Consumer Account 280 as they
would be for credits and debits to the Monetary part of the
Consumer Account of the first embodiment. The Supplier 130 does not
maintain Gasoline Accounts on behalf of the Financial Services
Entity 160. Instead, the Supplier 130 maintains Consumer Accounts
250 for each consumer participating in the system. The Consumer
Accounts 250 include one or more Gasoline parts 251, 252
corresponding to types of gasoline. The Supplier 130 still has
Retailer Accounts 240 as in the first embodiment.
[0079] FIG. 13 is a flow diagram representing the process for
purchasing gasoline according to this embodiment. It is similar to
the process illustrated in FIG. 4 for the previously described
embodiment. At step 401, the Supplier 130 provides sales offer
information to the Financial Services Entity 160. Sales offer
information may include types of gasoline with corresponding
amounts available for purchase and prices. At step 402, the
Financial Services Entity 160 provides the sale offer information
to the Consumer 110. As in the first embodiment, the information is
provided by means of a website or computer application, such as
mobile applications. At step 403, the Consumer 110 uses the website
or computer application to request a purchase of gasoline in
accordance with the terms of the sales offer information. At step
404, the Financial Services Entity 160 verifies that the Consumer
110 has sufficient credit and/or funds in the Monetary part 281 of
the Consumer account 280 (FIG. 12) to complete the purchase. If
there are insufficient funds, the Financial Services Entity 160
cancels the purchase (step 405) and informs the Consumer, through
the website or computer application, that the purchase has been
canceled (step 406). If there are sufficient credit or funds in the
monetary part of the Financial Services Entity 160 debits funds for
the total cost of the gasoline from the monetary part 281 of the
Consumer account 280 (step 410). The Financial Services Entity 160
transfers funds to the Supplier 130 for the amount of the purchase
(step 407) and provides information regarding the type of gasoline,
amount purchased and the consumer. The Supplier receives the funds
(step 1301) and credits one of a Gasoline part 251, 252 of the
Consumer Account 250 for that consumer for the amount of gasoline
purchased (step 1302) for the type of gasoline purchased.
[0080] FIG. 14A is a flow diagram for the process of dispensing
gasoline according to the second embodiment of the invention. This
process involves the Consumer 110, Retailer 120 and Supplier 130.
The Financial Services Entity 160 is not involved in dispensing
gasoline in the process. The actions of the Consumer 110 and
Retailer 120 are the same as for dispensing gasoline in the first
embodiment, as illustrated in FIG. 5. The operation of these steps
(501-507) are not repeated here and are the same as in the
description of FIG. 5. The only difference is that the Retailer 120
transmits all information to the Supplier 130, rather than to the
Financial Services Entity 160.
[0081] Upon receipt of a request for approval to dispense gasoline,
the Supplier 130 verifies that the Consumer 110 has a sufficient
amount in a Gasoline part 251 of a Consumer Account 250 for the
type of gasoline selected to be dispensed. If the Consumer Account
has a sufficient amount, an approval is sent to the Retailer 120.
Upon receipt of the approval, the Retailer 120 allows the selected
type of gasoline to be dispensed from the pump (step 505). If the
Consumer 110 does not have sufficient gasoline in the Gasoline part
251, 252 of the Consumer Account 250, the Supplier denies
dispensing of gasoline and the Retailer 120 terminates dispensing
(step 504).
[0082] When approved, the Consumer 110 dispenses gasoline from the
pump (step 506). After the gasoline is dispensed, the Retailer 120
transfers the amount of gasoline dispensed to the Supplier 130
(step 507). Upon receipt of the amount of gasoline dispensed, the
Supplier 130 debits the amount of gasoline from the Gasoline part
251, 252 of the Consumer Account 250 (step 1402) and credits the
Retailer account (step 510).
[0083] FIG. 14B is a flow diagram illustrating a process for
dispensing groceries. In this embodiment, the process steps of the
Consumer and the Retailer are the same as in the embodiment
illustrated in FIGS. 5B and 6B. The Consumer 110 selects groceries
at step 520. The list of grocery items is transmitted by the
Retailer 120 to the Supplier 130. In this embodiment, all Consumer
accounts are maintained by the Supplier 120. Therefore, the
Supplier checks whether the Consumer accounts have sufficient
quantities of the grocery items from the list at step 1403. An
approval of items from the grocery list for which there are items
in the Consumer accounts, and the approved quantities from the
accounts, is transmitted by the Supplier 130 to the Retailer 120.
Charges for the approved items are removed by the Retailer at step
523 and the Consumer 110 pays any remaining balance at step 524.
After receiving payment at step 525, the Retailer transmits the
approved and dispensed items to the Supplier 130. The Supplier
debits the dispensed items from the Consumer accounts at step 529
and credits the Retailer account at step 530.
[0084] FIG. 15 is a flow diagram illustrating a process for
dispensing gasoline when the Consumer 110 does not have a
sufficient amount in a Gasoline part 251, 252 of the Consumer
Account 250. This process is similar to the process shown in FIG.
7, in that an additional amount of gasoline is paid for by the
Financial Services Entity 160 at the current retail price. As in
the embodiment shown in FIG. 14, upon receipt of a request to
dispense gasoline from the Retailer 120, the Supplier 130
determines if the Consumer 110 has a sufficient amount in a
Gasoline part 251, 252 of the Consumer Account 250 (step 1401). If
the Consumer does, the Supplier 130 transmits an approval to the
Retailer 120 to start dispensing gasoline (step 505). However, if
the Consumer does not have a sufficient amount, the Supplier 130
sends a request to the Financial Services Entity 160 which verifies
if the Consumer 110 has sufficient funds, either through prepayment
or as credit, in the Monetary part 281 of the Consumer Account 280
to purchase additional gasoline (step 704). If the Consumer has
sufficient funds, the Financial Services Entity 160 transmits an
approval to the Supplier 130, which forwards the approval to the
Retailer 120 to dispense gasoline. The approval from the Supplier
130 includes an approved amount of gasoline corresponding to the
amount in the Gasoline part 251, 252 of the Consumer Account 250.
The approval also includes an indication that an additional amount
of gasoline can be dispensed and will be paid for.
[0085] The Retailer 120 does not limit the amount of gasoline which
can be dispensed to the approval amount. Instead, after the total
gasoline has been dispensed, the Retailer determines if the amount
dispensed exceeds the approval amount of gasoline (step 1502). If
the dispensed amount is below the approval amount, the Retailer 120
transmits the dispensed amount to the Supplier (step 1503). If the
dispensed amount exceeds the approval amount, the Retailer 120
transmits the approval amount to the Supplier 130 (step 1504). The
approval amount is debited from the Gasoline part 251, 252 of the
Consumer Account 250. The Retailer also transmits the amount of
gasoline dispensed over the approval amount, and the cost of the
extra gasoline at the current Retailer price to the Financial
Services Entity 160. The Financial Services Entity debits the cost
of the extra gasoline from the Monetary part 281 of the Consumer
Account 280 (step 708) and transfers funds to the Retailer 120 to
cover the cost of gasoline over the approval amount of gasoline
(step 709). The debiting of the Monetary part of the Consumer
Account and the payment of funds to the Retailer 120 works in the
same manner as it would for an ordinary credit account on behalf of
the Consumer 110.
[0086] According to embodiments of the present invention, as
illustrated in FIGS. 2, 3 and 12, the Financial Services Entity 160
is a distinct entity from the Supplier 130 and the Consumer 110.
However, the Financial Services Entity 160 could be a part of the
Supplier 130 and not a separate entity. Suppliers 130 are known to
have financial service entities 160 as part of their corporate
structure. For example, large gasoline companies have credit card
departments which provide credit to Consumers for purchase of
gasoline. The credit card departments operate as a distinct
Financial Services Entity within the gasoline company. Such credit
card departments, however, operate in the same manner as a
Financial Services Entity 61 of the prior art (FIG. 1). They
operate to facilitate the sale of gasoline by the Retailer. They do
not operate in a manner in accordance with the present invention
wherein the Supplier 130 sells the gasoline to the Consumer 110 to
be dispensed by the Retailer 120. Therefore, the inclusion of the
Financial Services Entity 160 within the corporate structure of a
Supplier 130 is within the present invention. All of the processes
performed by the Financial Services Entity 160 are still carried
out, just as a part of the Supplier 130, and communications and
transfers between the Supplier 130 and the Financial Services
Entity 160 are unnecessary.
[0087] Taxes can present some unique problems within the system of
the present invention, particularly taxes associated with the sale
of commodities, such as sales taxes or gasoline taxes. In some
cases, taxes may be owed when the Consumer 110 purchases the
commodity from the Supplier 130. In other cases, taxes may be owed
when the Consumer 110 receives the commodity from the Retailer 120.
If taxes can be determined at the time of the sale by the Supplier
130, whether or not due at that time, the Supplier can collect the
taxes at the time of sale. If taxes are not due until dispensing,
the Supplier 130 would either pay the taxes at that time, transfer
the money to the Retailer 120 to pay the taxes, or credit the
Retailer Account 240 for the amount of the taxes. If taxes cannot
be determined until the time of dispensing, the Financial Services
Entity 160 may charge Consumer 110 for the amount of such taxes.
The Financial Services Entity 160 could pay those taxes either to
the Supplier 130 as with any other payment or to the Retailer 120,
as with a payment for gasoline above the amount in the Consumer
Account 260. Gasoline taxes in the United States provide a good
example of the possibilities for collecting and paying taxes.
Gasoline taxes are a fixed amount based upon the number of gallons
sold. However, there are federal, state and local amounts for these
taxes. Since federal gasoline taxes are consistent across the
entire country, the Supplier 130 can collect those taxes for the
number of gallons of gasoline purchased. The Supplier 130 would
supply the amount of those taxes to the Retailer 120 when the
gasoline is dispensed so that the Retailer 120 can pay the
necessary taxes. State and local taxes depend upon the location of
the Retailer 120 which dispenses the gasoline. These taxes can be
collected by either the Supplier 130 or Retailer 120 from the
Financial Services Entity 160 at the time of dispensing. The
Financial Services Entity 160 either collects the amount from the
Consumer 110 at a later date, or has a prepayment from the Consumer
110 to cover these taxes. Alternatively, the Supplier 130 can
collect an amount for state and local taxes, such as an amount for
the location of the Consumer 110, at the time of purchase.
Adjustments would only be necessary if the Consumer 110 dispensed
gasoline at a location with a different amount for state and local
taxes. In that case, the Consumer 110 might get a credit if taxes
are less.
[0088] It should be appreciated that numerous variations on the
particular embodiments described above are possible, and such
variations are considered to be within the spirit and scope of the
invention. For example, variations on the methods described herein
may not include all of the acts described above, may include acts
which are not described above, and/or may provide for various acts
to be performed in a different order or manner than is described
above. Similarly, variations on the interactions between and
arrangements amongst entities described herein may not include all
of the interactions and arrangements described above, may include
interactions and arrangements not described above, and/or may
provide for interactions and arrangements between entities in a
different order or manner than is described above. The invention is
not limited to the particular embodiments described above.
[0089] It should also be appreciated that the invention is not
limited to being employed with the particular commodities described
above (e.g., gasoline, groceries, etc.). As one of many examples,
some embodiments of the invention may enable an individual or
entity to pre-purchase carbon tax credits at a particular price.
The invention is not limited to supporting the pre-purchase of any
particular commodity or commodities.
[0090] It should further be appreciated that some embodiments of
the invention may enable one user to pre-purchase a commodity, and
then later transfer some or all of the pre-purchased commodity to
another user. In some embodiments, this type of transfer may occur
between accounts associated with different users. As one example,
an individual may pre-purchase a given quantity of a commodity at a
given price, so that the quantity of the commodity is credited to
the individual's account, and later donate that quantity (or some
subset) of the commodity to another user, such as to a charity. As
another example, a governmental entity may pre-purchase a given
quantity of a commodity (e.g., food, gasoline, etc.) at a given
price, so that the quantity of the commodity is credited to the
governmental entity's account, and the governmental entity may
later disburse the purchased quantity (or some subset) of the
commodity to accounts associated with one or more individuals,
similar to the disbursement of "food stamps" or other aid programs.
As yet another example, transfers between accounts may enable users
to barter or exchange commodities. For example, a first user may
pre-purchase a quantity of a first commodity, so that the quantity
of the first commodity is credited to the first user's account, and
then later agree to transfer that quantity (or some subset) of the
first commodity to a second user in exchange for a specified amount
of a second commodity. Any of numerous types of transfers of
commodities between users and associated accounts may be
envisioned.
[0091] It should be also appreciated that numerous environmental
and/or technological benefits may flow from the systems and methods
disclosed herein. For example, the ability to pre-purchase gasoline
at a low price may cause consumers to limit their gasoline
consumption to the amount pre-purchased, if the alternative is
having to buy more gasoline at a higher price. This may result in
lower gasoline consumption by individual consumers, and by the
overall population of consumers who take advantage of the system,
and thus lower overall emissions, benefiting the environment.
[0092] The ability to pre-purchase gasoline at a low price may also
result in fewer gasoline purchase transactions, since consumers may
have an incentive to purchase an amount of gasoline sufficient to
last an extended period upon determining that the price is low, and
likely to rise in the future. Fewer gasoline purchase transactions
may result in less associated transaction data, and so as a result,
a system implemented in accordance with some embodiments of the
invention may experience reduced network traffic and latency (i.e.,
since there may be less transaction data to flow over a given
network), and consume fewer processing and storage resources (i.e.,
since there may be less transaction data to process and/or store),
as compared with conventional systems, and thus be less costly to
maintain overall.
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