Patent ID: 8438070

Claim:
A non-transitory computer readable media having stored thereon computer executable instructions for exchanging value between a service buyer and a service provider, comprising: establishing in an electronic data repository a buyer virtual funds account associated with the service buyer; establishing in the electronic data repository a provider virtual funds account associated with the service provider; receiving a request for services from the service buyer, wherein the request for services includes an amount that the service buyer is willing to pay for the services; placing a hold on an amount of virtual funds corresponding to the amount that the service buyer is willing to pay for the services, in the buyer virtual funds account; negotiating with the service provider the amount that the service buyer is willing to pay for the services; adjusting up or down the hold on the amount of virtual funds corresponding to the negotiated amount that the service buyer is willing to pay for the services, in the buyer virtual funds account; receiving an indication from the service provider that the service provider will perform the services for the service buyer for a final cost; adjusting up or down the hold on the amount of virtual funds corresponding to the final cost that the service provider will perform the services for the service buyer, in the buyer virtual funds account; receiving a confirmation from the service buyer that the service provider has performed the requested services; and effecting a payment of an amount of actual funds corresponding to the final cost of the performed services from the service buyer to the service provider by: releasing the hold; transferring the amount of virtual funds corresponding to the final cost of the performed services from the buyer virtual funds account to the provider virtual funds account; receiving a dispersal request from the service provider, the dispersal request specifying a dispersal amount; debiting the service provider virtual funds account associated with the service provider by an amount corresponding to the dispersal amount; and transferring the actual funds in the dispersal amount from the service provider virtual funds account to an actual account associated with the service provider.