Automated Enriched Transaction Linkage to Records of Charge
Find Innovative SolutionsGenerate Solutions
Solution Overview
Problem
Transaction account owners face inefficiencies in linking enriched transaction data, such as electronic receipts, to corresponding records of charge, which are typically done manually and depend on optical character recognition, leading to delays and increased disputes and fraud risks.
Innovation Solution
A system and method for automated linkage of enriched transaction data to a record of charge, utilizing a processor-based system that includes an issuer system, merchant system, and network interfaces to match and associate enriched transaction data with transaction records based on merchant ID, transaction date, amount, and authorization codes, enabling immediate access and real-time data availability.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Productivity
If manual linkage of enriched transaction data to records of charge is performed, then flexibility and adaptability are maintained, but productivity is reduced and loss of time increases
Solution Approach 1:
The patent replaces manual mechanical linkage processes with an automated computer-based system that uses optical character recognition (OCR) technology to automatically extract data from transaction receipts and match it with records of charge. This substitution of manual mechanical operations with automated optical and computational processes directly resolves the contradiction by dramatically increasing processing speed while reducing time loss.
Solution Approach 2:
The system enables self-service automation where the computer system autonomously performs data extraction, matching, and linkage without human intervention. The automated OCR technology and algorithmic matching processes allow the system to service itself, eliminating the need for manual labor while maintaining high productivity and minimizing time loss.
2Productivity
If manual matching of enriched transaction data is performed, then measurement precision can be maintained through human review, but productivity decreases and loss of time increases
Solution Approach 1:
The patent employs automated OCR technology and computer-based pattern recognition algorithms to replace manual data review processes. These automated systems achieve high measurement precision through sophisticated image processing and data matching algorithms, while simultaneously dramatically increasing productivity by processing vast quantities of transactions without human intervention.
Solution Approach 2:
The system creates digital copies of transaction data through OCR scanning and stores them in electronic format. These digital copies can be rapidly processed, searched, and matched with records of charge using computational algorithms, achieving both high productivity and maintained precision through automated comparison and verification processes.
3Loss of time
If automated linkage systems are implemented, then productivity increases and loss of time decreases, but device complexity increases
Solution Approach 1:
The patent implements a universal computer-based system that performs multiple functions: OCR data extraction, transaction matching, data storage, and retrieval. This multi-functional system reduces overall device complexity by consolidating what would otherwise require separate specialized systems, while achieving rapid data retrieval and minimal time loss.
Solution Approach 2:
The system introduces an intermediary computer-based processing layer between the physical transaction receipts and the final data retrieval. This intermediary uses OCR technology to convert physical documents into digital data, which then can be rapidly processed and matched, reducing time loss while managing complexity through modular architectural design.
4Loss of information
If manual receipt processing is used, then device complexity remains low, but productivity decreases and loss of information increases
Solution Approach 1:
The patent uses OCR technology to create accurate digital copies of transaction receipts, preserving all information in electronic format. These digital copies can be stored, searched, and processed without degradation, ensuring complete information retention while enabling high-volume processing that dramatically increases productivity compared to manual handling.
Solution Approach 2:
The system replaces manual receipt processing with automated OCR scanning and digital data capture. This substitution ensures complete information capture through high-resolution scanning and automated data extraction, while simultaneously increasing productivity by processing numerous receipts in parallel without human fatigue or error.
Data Source
AI summary
Systems and methods for automated linkage of enriched transaction data to a record of charge are provided. Electronic enriched transaction data, such as receipt information, provided by merchants, merchant aggregators, or third parties may be automatically associated with the corresponding transaction, and transmitted after the sale, or after authorization of the transaction, without user intervention. The enriched transaction data may be automatically associated with the record of charge at the acquirer or issuer end. Transaction account holders are able to view and/or download the electronic enriched transaction data with the record of charge, without the need for manually initiating emailing or attaching or the electronic enriched transaction data.