Method and apparatus for facilitating performing payment option aggregation utilizing an automated authentication engine

Abstract

A method, apparatus and computer program products are provided for performing payment option aggregation. One example method includes receiving, from an e-commerce platform, a request to complete a transaction, the request comprising identifying information and a transaction amount, authenticating a user utilizing the identifying information, accessing one or more payment entities using the authenticated user identifying information to identify payment options, each payment option having an associated payment method, billing address, and shipping address, providing, for display, a descriptor associated with each of a portion of the identified payment options, and receiving an indication of a selection of at least one payment option.

Description

CROSS REFERENCE TO RELATED APPLICATIONS[0001]This application claims priority to U.S. Provisional Application No. 62 / 290,491, filed Feb. 3, 2016, U.S. Provisional Application No. 62 / 313,845, filed Mar. 28, 2016, U.S. Provisional Application No. 62 / 325,478, filed Apr. 21, 2016, and U.S. Provisional Application No. 62 / 416,210, filed Nov. 2, 2016, the entire contents of each of which are incorporated herein by reference.TECHNOLOGICAL FIELD[0002]Embodiments described herein generally relate to an improved payment or checkout process resulting in a more secure and less cumbersome process for the user. In particular, embodiments described herein relate to identifying potential payment options by providing payment entities authenticated identification information, and specifically to a method, apparatus, and computer program product for receiving each of a plurality of payment options, ordering and configuring the payment options for display, and receiving selection of a payment option.BAC...

AI Technical Summary

Benefits of technology

[0011]Embodiments described herein provide an improved payment process resulting in a more secure and less cumbersome process for the user. In particular, a method, apparatus, and computer program product are provided for identifying potential payment options by providing payment entities authenticated identification information, receiving each of a plurality of payment options, ordering and configuring the payment options for display, and receiving selection of a payment option.

Problems solved by technology

Providing payment options to a user for mobile and online transactions are of increasing importance to e-commerce since the payment and checkout is often the most time-consuming and inconvenient part of making purchases online.

Relying on these approaches has resulted in literally billions of dollars of fraud throughout the world, as these conventional methods insufficiently authenticate the person attempting to complete the transaction as the true account owner.

Even with these grossly insufficient authentication processes, users often abandon a checkout (e.g., fails to complete the purchase) due to the time and effort involving in completing the checkout process.

Moreover, even with a user's login credentials, a hacker cannot complete a transaction process.

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