System and method for making a synthetic cash

advance using a purchase payment exchange 

Everything online for less.

Thisis You,

the Matchmaker.

The Parties.

An online merchant, utility, etc., who accepts credit card payments.

A credit cardholder in need of cash..

A consumer who wants a discount on a purchase, or bill payment.

Online merchant

Credit cardholder in need of cash.

Consumer seeking a discount.

The Parties.

You could require that the parties have a "verified PayPal account" to insure that the parties are using their true identities.

The transmission of funds may be done peer-to-peer, or outsourced to a licensed money.

1.Consumer wants to buy a ring from the merchant for $1,000.00.

2. Consumer has $1,000.00 available to purchase the ring with an electronic funds transfer (EFT), online checking, or PayPal account.

3. Consumer wants to get the ring at a discount.

4. Consumer sends you the purchase information on the ring.

Example

You

Customer gives you the purchase specifics of the item (e.g. Ring) to buy.

The customer may specify a minimum acceptable discount. For example "I do not want to spend more than $975.00 for the $1,000.00 ring."

YouWho want's to bid on Who want's to bid on

a $1,000.00 a $1,000.00 purchase.purchase.

You email pre-registered money seekers, purchased leads, or otherwise advertise the available cash on your website.

General details can be posted publicly (e.g. Purchase amount, type of item (i.e. Ring), time left, etc.). Persons who are interested can log on to the website for further information.

YouI will accept I will accept $950.00.$950.00.

I will accept I will accept $980.00.$980.00.

Credit cardholders bid.I will accept

$949.00.

AlternativelyOne or more cash seeking credit cardholders can leave credit card information with you with standing orders.

For example: The cash seeker may submit "For the next 24 hours, I allow my credit card to be used for any purchase of up to $500.00. I will accept a 10% discount."

So, in this case, any incoming consumer order that matches that range can be filled immediately.

Likewise, a consumer with a reoccurring bill (car payment) can place a standing order and discount amount (e.g. I will pay $775.00 to the cash seeker who makes my $800.00 car payment).

You

You select and notify the winner (e.g. Credit cardholder who will accept the least amount of money) and the consumer.

$$949.00949.00 Wins! Wins!Terms met !Terms met !

You

Online merchant

You make the $1,000.00 purchase for the consumer using the cash seeker’s credit card or PayPal account information.

Credit cardholder may provide credit card, or PayPal account, info to you.

Info given

You

Online merchant.Cashseeker cardholder makes purchase for the consumer.

ALTERNATIVELY

Merchant provides verification of payment to you.

You

Notify consumer of completed transaction.

Online merchant ships ring to consumer.

You

Consumer pays $949.00 to Credit cardholder (e.g. via PayPal).

Consumer saves $51.00.

Credit cardholder receives $949.00 at his credit card's purchase interest rate, at an overall cost that is less than a payday loan or cash advance.

Alternatively, instead of you giving $51.00 to the consumer, you could give $25.00, because the consumer only requested a discount of $25.00 and you keep $26.00.

ALTERNATIVELY

YouPay Credit Cardholder with Consumer's moneypreviously received.

Conclusion

You earn revenues (e.g. membership fee, listing fee, etc.) from matching consumers and cash seeking credit card holders via an online exchange. You incur no bad loan risk.

Credit cardholders can receive cash in exchange for use of their credit cards (i.e. a synthetic cash advance) that is cheaper than other short term loan products/services.

Credit card issuers can capture a portion of the payday loan industry's clientele (a multi-billion dollar a year industry).