Browser Payment Request API for Cryptocurrency Transactions
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Solution Overview
Problem
The existing online shopping process is cumbersome due to complex shopping cart models that require extensive user input, including payment and address data, leading to high abandonment rates and distrust in providing credit card information, especially on mobile devices, resulting in significant losses in potential sales.
Innovation Solution
A browser-based payment request API that facilitates a streamlined payment process by acting as an agent between the user, cryptocurrency wallet, and merchant site, allowing for one-click purchasing by automatically populating payment information and initiating cryptocurrency transactions without manual input, using protocols like the payment request API and payment handler API to communicate between the browser, site, and payment services.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If a complex shopping cart model is used to collect payment and address data, then the merchant can obtain complete purchase information, but the user interaction becomes cumbersome and abandonment rate increases
Solution Approach 1:
The system performs preliminary actions by automatically collecting and storing payment and address data before the purchase decision is made. The shopping cart model pre-populates all necessary fields with stored user information, so when the user confirms the purchase, all data is already prepared and validated, eliminating the need for manual entry during the critical decision moment.
Solution Approach 2:
The patent introduces an intermediary shopping cart system that mediates between the user and the merchant. This intermediary automatically manages data collection, validation, and transmission, shielding the user from the complexity of direct interaction with multiple data fields while ensuring the merchant receives complete and accurate information.
2Reliability
If extensive payment data collection is required, then the merchant can process transactions securely, but user distrust increases and sales are lost
Solution Approach 1:
The system implements self-service by allowing users to pre-configure their payment methods and address information in their profiles. When making a purchase, the system automatically uses these pre-configured settings without requiring the user to manually enter sensitive data, thereby maintaining security through encrypted storage and automatic transmission while reducing user anxiety about data exposure.
Solution Approach 2:
The system performs preliminary security validations and data preparations before the user commits to a purchase. Payment data is encrypted and validated in advance, and the shopping cart model pre-processes all transaction requirements, so the user only needs to confirm the final action, reducing distrust by demonstrating that security measures are already in place.
3Ease of operation
If manual data entry is required for each purchase, then the user can control the information provided, but the purchasing process becomes time-consuming
Solution Approach 1:
The system performs preliminary actions by automatically populating all purchase form fields with stored user information before the user needs to make a decision. The shopping cart model retrieves pre-saved payment methods, shipping addresses, and contact information, presenting a pre-filled summary for user confirmation, thereby eliminating manual entry while maintaining user control through the ability to review and modify data before final submission.
Data Source
AI summary
Disclosed is an approach for processing cryptocurrency payments via a payment request application programming interface. A method includes receiving, from a site, at a browser and via the payment request application programming interface, a request associated with a potential purchase, wherein the request includes an identification of a cryptocurrency payment method accepted by the site and transmitting, to the site, from the browser and via the API, data indicating that a user of the browser can pay for the potential purchase via the cryptocurrency payment method accepted by the site. The method includes retrieving via the API cryptocurrency payment information for the potential purchase and populating a cryptocurrency wallet with the cryptocurrency payment information for automatic payment.