Automated Payment Mode Selection System
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Solution Overview
Problem
Current electronic payment systems lack systematic intelligence to recommend the best payment mode to customers at the point of sale, leading to random and potentially unfavorable payment selections.
Innovation Solution
A system that uses a processor and memory to obtain user identification and location information, determine available user accounts and merchant acceptance modes, analyze account parameters, and generate notifications to recommend the best payment mode for a transaction.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If customers randomly select payment modes during checkout, then the selection process is simple and quick, but the selected payment mode may not be in the best interest of the customer
Solution Approach 1:
The system enables automatic payment mode selection without requiring customer intervention. The processor automatically analyzes account parameters, merchant acceptance criteria, and transaction details to select the optimal payment mode, eliminating the need for customers to manually evaluate multiple payment options while ensuring the selection is in their best interest
Solution Approach 2:
The patent replaces the manual customer decision-making process with an automated computational system. The processor executes algorithms that evaluate account parameters, merchant requirements, and transaction characteristics to determine the optimal payment mode, substituting human judgment with systematic intelligent analysis
2Reliability
If the system analyzes multiple user accounts and provides intelligent recommendations, then payment selection quality is improved, but the system complexity increases
Solution Approach 1:
The processor is designed to perform multiple functions: obtaining user identification information, determining user accounts, analyzing account parameters, determining merchant acceptance criteria, and selecting optimal payment modes. This multi-functional approach consolidates complex operations into a single versatile component, managing system complexity while providing comprehensive payment selection intelligence
Solution Approach 2:
The system pre-establishes the framework for payment mode selection by obtaining user identification information and determining available user accounts before the actual transaction occurs. This preliminary preparation enables rapid automated analysis during checkout without adding complexity to the transaction flow, as the foundational data structure is already in place
Data Source
AI summary
Various systems, methods, and media for facilitating selection of a transaction mode for an electronic transaction are provided. User identification information, that identifies a user of a user device that performs the electronic transaction, is obtained. User accounts are determined based on the user identification information. Location information of the user device is also obtained, and at least one of sound information detected by a microphone of the user device or light information detected by a camera of the user device is further obtained. A single merchant is determined based on the location information of the user device and the at least one of the sound information or the light information. The user accounts are analyzed, and a recommended user account is determined based on the single merchant. A notification to be displayed on the user device is generated based on the recommended user account.