Active Payment Icons for Secure Substitute Check Processing
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Solution Overview
Problem
Current payment systems are inefficient, requiring multiple steps, posing financial risk to recipients, and lacking integration with other systems, security, and privacy, while being slow and expensive.
Innovation Solution
A computerized payment method and system that uses active payment icons linked to a payment interface, allowing users to easily satisfy payment obligations through a non-bank e-wallet account, with features like substitute checks and automated verification, reducing the need for direct account access and enhancing security.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If traditional payment systems are used, then payment can be processed, but the process requires too many steps and operations from the user
Solution Approach 1:
The patent extracts the payment interface from complex traditional banking systems and presents it through simplified active payment icons that can be displayed on various devices. The interface separates the essential payment function from the complexity of traditional banking operations, allowing users to complete payments with minimal steps while the system handles the underlying processing automatically.
Solution Approach 2:
The payment interface is designed to be universal, working across multiple devices and platforms without requiring users to switch between different systems. The active payment icons can be displayed on smartphones, tablets, computers, and other devices, providing a consistent payment experience regardless of the user's device while consolidating multiple payment functions into a single interface.
2Device complexity
If traditional payment systems are used, then payment can be processed, but they require multiple APIs/sources/platforms/cloud services
Solution Approach 1:
The patent merges multiple payment processing functions, APIs, and platforms into a single unified payment interface. Instead of requiring users to interact with separate banking systems, payment processors, and authentication services, the interface consolidates these functions into one integrated system that handles the entire payment process automatically.
Solution Approach 2:
The payment interface acts as an intermediary layer between users and the complex underlying payment infrastructure. It mediates between the user's simple payment action and the complex multi-platform processing required in the background, hiding the complexity while maintaining compatibility with various banking systems and payment processors.
3Productivity
If traditional payment systems are used, then payment can be processed, but they are slow and expensive
Solution Approach 1:
The system performs preliminary actions by pre-establishing payment profiles, validating account information, and preparing payment processing parameters before the actual payment transaction. This allows the payment to be executed rapidly without requiring real-time verification of all payment details during the transaction itself, significantly reducing processing time and cost.
Solution Approach 2:
The patent replaces traditional mechanical payment processing steps with automated electronic processing. Instead of requiring manual verification, physical check handling, or sequential approvals, the system uses automated electronic interfaces to complete payment processing rapidly, reducing both time and operational costs while maintaining security through electronic verification mechanisms.
4Reliability
If traditional payment systems are used, then payment can be processed, but they give payee(s) too much freedom/power/access to a bank account
Solution Approach 1:
The patent segments access to bank accounts by creating separate payment sessions that are activated only when needed. Instead of giving payees continuous access to account information, the system creates isolated payment transactions that can be initiated and monitored independently, allowing users to maintain security while enabling necessary payment operations.
Solution Approach 2:
The system implements feedback mechanisms that allow users to monitor payment status, verify transaction details, and control payment processing in real-time. Users receive feedback about the state of their payments and can adjust or cancel transactions as needed, maintaining both security and operational ease through continuous communication between the user and the payment system.
Data Source
AI summary
A method and system for processing a payment over a computerized network. An icon generating module automatically generates active payment icons for the payee associated with particular payment obligations, each including a link to the computerized payment interface and machine-readable information regarding the specific payment to be made, and automatically generates active payment icons having alternative programming associated with a plurality of utilization modes (e.g. for use with SmartTVs, mobile devices). A payment processing system generates substitute checks for the payor and is a non-bank e-wallet account which uses a phone number as the account number. An interactive user interface is activated on selection of an active payment icon such that machine-readable information regarding the specific payment is displayed together with interactive user interface tools for effecting payment thereof through the payment processing system.