Patent ID: 8135640
Filing Date: 2012-03-13
Classification: G06Q

Abstract:
1. A system for a credit cardholder to obtain synthetic cash advance in exchange for completing a financial transaction for a beneficiary, comprising: means for a cardholder to submit a bid to complete a financial transaction chosen by a beneficiary using the cardholder's credit card, in exchange for the cardholder receiving the beneficiary's cash in an amount that is less than the beneficiary's proposed financial transaction, wherein the cardholder's bid comprises a discount from a purchase price, the discount further comprising the difference between a charge to the cardholder's credit card and the amount the cardholder is willing to receive in exchange for completing the financial transaction for the beneficiary; means to select the cardholder's bid; means for using the cardholder's credit card to complete the financial transaction for the beneficiary; and means for making an electronic fund transfer to the cardholder of cash received from the beneficiary, wherein the cash is a synthetic cash advance.