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System for processing competitive bids at point-of-sale terminals

IP.com Disclosure Number: IPCOM000004471D
Publication Date: 2000-Nov-21
Document File: 2 page(s) / 10K

Publishing Venue

The IP.com Prior Art Database

Abstract

An apparatus comprises a central controller connected to each store. The stores are all owned by the same parent retailer, and are sellers that accept competitive bids by customers for limited-supply products. In the process of placing a bid, customers enter their bid amount, contact and credit card information into an automated POS terminal. The information gathered by POS terminal is securely transferred by dedicated network connection to central controller. The Central controller uses programs known in the art to collect, compare and award purchases to the highest level bids placed by a customer.