Patent ID: 7844537
Filing Date: 2010-11-30
Classification: G06Q

Abstract:
1. A method of intermediating a transaction between a consumer and a merchant involving an exchange of monetary funds, the method comprising: (a) receiving subscriptions from merchants and registering the merchants as member merchants; (b) providing a vehicle for the member merchants to require a deposit amount for the transaction; and (c) enabling a consumer to secure the deposit amount for the transaction with funds deposited in one of a bank account or a special deposit account without requiring the consumer to provide the funds to the merchant or to another account, wherein step (c) is practiced by placing a hold on the deposited funds in an amount corresponding to the deposit amount, wherein the deposited funds placed on hold are unavailable to the consumer, and wherein upon completion of the transaction, the hold on the deposited funds is released, and the released funds are again available to the consumer.