ATM Electronic Payment Conversion System
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Solution Overview
Problem
Conventional ATMs and electronic payment systems are limited in their ability to convert electronic payments into physical currency, often requiring bank accounts or sensitive information from recipients, restricting usability and accessibility.
Innovation Solution
An ATM-based electronic payment conversion system that detects electronic payments, generates access codes, and converts them into physical currency without the need for a bank account or sensitive information, using a payment conversion system integrated with ATMs and electronic payment systems to facilitate secure and automated transactions.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If conventional ATM systems are used for electronic payment conversion, then basic transactions are supported, but the system requires bank accounts and sensitive information which limits accessibility and usability
Solution Approach 1:
The patent introduces an intermediary system that mediates between the electronic payment system and the ATM. This intermediary layer enables conversion without requiring users to have bank accounts or provide sensitive information, thus improving accessibility while maintaining system security through the mediation process
Solution Approach 2:
The ATM system is enhanced to perform multiple functions beyond traditional banking transactions. It now supports electronic payment conversion for users without bank accounts, making the device universally accessible to a broader population while maintaining its原有 functions
2Ease of operation
If conventional ATM systems require bank accounts for transactions, then security is maintained through established protocols, but usability is restricted to bank customers only
Solution Approach 1:
The patent changes the authentication parameters from bank account verification to alternative identification methods. This allows the system to maintain security reliability while improving ease of operation for users without bank accounts by using different verification parameters
3Adaptability or versatility
If ATMs provide only basic transactions, then system complexity is kept low, but the system lacks additional options and features for diverse user needs
Solution Approach 1:
The patent segments the ATM functionality into modular components, allowing basic transactions to remain simple while adding optional electronic payment conversion features. This segmentation enables the system to provide diverse features without significantly increasing overall system complexity
Data Source
AI summary
An exemplary system includes at least one physical computing device that is communicatively coupled, by way of a network, to an automated teller machine (ATM), and that receives, by way of user input to the ATM, a transaction identifier, verifies that the transaction identifier represents, in an electronic payment system, an electronic payment of an amount from a sender to a recipient by way of the electronic payment system, generates an access code for the electronic payment, initiates a transmission of the access code to a computing device of the recipient, receives, by way of additional user input to the ATM, the access code for the electronic payment, validates the received access code for the electronic payment, and directs, in response to the validation of the received access code, the ATM to disburse the amount of the electronic payment in physical currency.