Alias Account Identifier System for Payment Transaction Accuracy
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Solution Overview
Problem
Consumers with multiple payment accounts face inefficiencies and errors when selecting the correct account for transactions, as existing systems require them to review and distinguish between numerous account numbers, leading to potential mistakes.
Innovation Solution
A system that allows users to assign alias account identifiers to their payment accounts, enabling quicker and more accurate selection during transactions by presenting nicknames instead of account numbers, and integrates with multiple issuers for verification and authentication.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Measurement precision
If consumers review and distinguish between multiple account numbers to select the correct payment account, then account selection accuracy is improved, but time consumption increases and errors may still occur
Solution Approach 1:
The system changes the identification parameter from account numbers to user-defined aliases. Instead of displaying traditional account numbers that require careful review and distinction, the system presents aliases that are more intuitive and easier to recognize, such as 'Household Account' or 'Business Account', thereby reducing time consumption while maintaining or improving selection accuracy
Solution Approach 2:
The system creates a mapping between account numbers and aliases, effectively copying the identification function from the difficult-to-distinguish account numbers to the easier-to-recognize aliases. This allows consumers to select accounts based on meaningful names rather than numerical identifiers, resolving the contradiction between accuracy and time consumption
2Measurement precision
If consumers carefully review account numbers to select the correct payment account, then selection accuracy is improved, but the complexity of the selection process increases
Solution Approach 1:
The system transforms the selection interface by changing the display parameter from account numbers to aliases. This parameter change simplifies the cognitive load on consumers, as aliases provide semantic meaning that makes account identification more intuitive and less complex, while maintaining accurate selection
Solution Approach 2:
The alias acts as an intermediary between the consumer and the account number. Instead of directly confronting the consumer with difficult-to-distinguish account numbers, the system introduces aliases as a mediating layer that translates numerical identifiers into meaningful labels, thereby reducing the complexity of the selection process while preserving accuracy
3Loss of information
If the system displays account numbers for multiple payment accounts, then account identification capability is provided, but ease of operation decreases due to difficulty in distinguishing account numbers
Solution Approach 1:
The system changes the display parameter from account numbers to aliases, making account identification more intuitive and easier to operate. Aliases provide semantic meaning that enhances ease of operation while maintaining complete account identification capability through the underlying mapping between aliases and account numbers
Solution Approach 2:
The system copies the identification function from account numbers to aliases, preserving the ability to uniquely identify accounts while significantly improving ease of operation. The alias serves as a user-friendly copy of the account identifier that maintains the necessary identification capability without the difficulties of distinguishing similar numerical strings
Data Source
AI summary
Embodiments of the invention are direction to systems, apparatuses and methods for enrolling users in a payment service that enables an individual (“a presenter”) to conduct a payment transaction with another party (“an acceptor”) more efficiently in situations where the individual has multiple payment accounts. One embodiment of the invention is directed to a method comprising presenting to a user a plurality of payment accounts associated with the user, receiving from the user a selection of an alias account identifier for each of the payment accounts, and storing in a database data that associates the selected alias account identifiers with the payment accounts.