Abstract: There is described an online bid management system where a consumer may post a receipt for a purchase or an intent to purchase a product or service and receive bids for equivalents to the original product or service from a series of merchants. The system acts as a filter between the consumers and the merchants. The posted receipts are initially filtered for the merchants such that only merchants that offer equivalents to the original product or service are provided with any given posted receipt. Similarly, the bids received by the merchants in response to a given original product or service are also filtered for the consumer such that only offers that are truly a “better offer” are presented to the consumer. The information is therefore processed in both directions, i.e. from the consumer to the merchant and from the merchant to the consumer, and is streamlined for the needs of both the merchants and the consumers.