Patent ID: 8626596

Claim:
An online transaction method for conducting a merchandise transaction between a merchant and a user, the method comprising: under control of one or more computing systems comprising memory and one or more processors, allowing the user to purchase a product of the merchant through an intermediary transaction platform; receiving from the user a transaction request including at least a mode of payment selected by the user; sending a request for pickup service to a logistics company; receiving a first transaction status indicating that the merchant has shipped the product; tracking occasions indicating unsuccessful pick-up of goods received from the logistics company; applying a punitive measure on the merchant according to a pre-determined rule if an accumulative number of the occasions is greater than a threshold; receiving a second transaction status indicating that the user has confirmed receiving the product; conducting a first fund settlement between a payment platform and the logistics company, the first fund settlement including receiving funds from the logistics company into the payment platform; and conducting a second fund settlement between the payment platform and the merchant, the second fund settlement including transferring funds from the payment platform to the merchant.