Patent ID: 7499875

Claim:
A computer-implemented method for facilitating online payment transactions between participants in a network-based transaction facility, the computer-implemented method comprising: communicating to a first participant, information identifying a plurality of payment instruments available for processing online payment transactions in the network-based transaction facility, the information to facilitate a selection by the first participant of at least one of the plurality of payment instruments that the first participant is willing to accept when receiving a payment from a second participant; receiving payment option information from the first participant, the payment option information identifying the selection of the at least one of the plurality of payment instruments; determining that the first participant is qualified to accept the at least one of the plurality of payment instruments, the determination being based on a risk management operation; communicating the payment option information to the second participant via a communications network; determining a risk level of an online payment transaction between the first participant and the second participant using at least feedback information, the feedback information pertaining to the second participant and including information provided by peers of the second participant in the network-based transaction facility, the risk level to determine whether the second participant is qualified to use a payment instrument selected by the second participant from the at least one payment instrument acceptable to the first participant; and accepting personal billing information concerning the selected payment instrument if the second participant is qualified to use the selected payment instrument, the personal billing information being accepted via the communications network to facilitate the online payment transaction between the first participant and the second participant.