Card Currency Determination Using Bitwise Tree Processing
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Solution Overview
Problem
Existing systems for card transactions across different currencies often require manual conversion and lack efficient methods to determine the currency of a card account during international transactions, leading to complex and inconvenient processes for cardholders.
Innovation Solution
A method and equipment using a tree structure to automatically determine the currency of a card account by processing the card number one bit at a time, allowing for direct currency conversion by comparing the card currency with available currencies and providing exchange rate options to the cardholder, which can be implemented in Point of Sale devices, ATMs, or online transactions.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If manual currency conversion is used, then conversion accuracy can be maintained, but the transaction process becomes complex and inconvenient for cardholders
Solution Approach 1:
The system automatically determines the card currency by processing the card number through a tree structure, eliminating the need for manual currency selection or conversion initiation by the cardholder. The equipment autonomously compares card currency with available currencies and provides direct conversion services without requiring user intervention in the conversion process.
Solution Approach 2:
The patent replaces manual currency conversion processes with an automated computer-based system that uses a tree data structure to efficiently determine card currency and provide conversion services. The mechanical/manual process is substituted with electronic data processing and algorithmic comparison.
2Productivity
If efficient automatic currency determination is implemented, then transaction speed improves, but the system complexity increases
Solution Approach 1:
The currency determination system is segmented into a tree data structure where each node represents a branch of card number processing. This segmentation allows the system to process card numbers bit by bit and efficiently navigate through possible currency mappings without requiring complex centralized processing logic.
Solution Approach 2:
The tree structure is pre-built and stored in the equipment memory before transactions occur. This preliminary preparation of currency mapping data allows the system to quickly determine card currency during transactions without performing complex calculations in real-time, thus improving processing speed while managing system complexity.
3Loss of information
If direct currency conversion is provided, then cardholder transparency improves, but the equipment requires sophisticated currency detection capabilities
Solution Approach 1:
The patent replaces complex currency detection mechanisms with a systematic approach using tree data structure processing. The equipment automatically processes the card number through the tree structure to determine currency, providing transparent and accurate currency identification without requiring sophisticated or complex detection hardware.
Data Source
AI summary
This invention concerns direct currency conversion, that is automatic currency conversion at point of payment for card transactions. In particular it concerns a method for operating equipment associated with a financial transaction. The method includes the steps of: Presenting a card related to a customer's account. Recording a card number from the card. Applying all or part of the card number to a tree structure, and automatically processing that number by the tree one bit at a time to arrive at an end node of the tree coded with information related to the currency of the customer's card account. Determining the currency of the customer's card account. Comparing the currency of the customer's card account with one or more currencies predetermined for the equipment. Where the comparison indicates different currencies, providing direct currency conversion services. In other aspects it concerns the equipment itself, and a method of preparing a tree structure for use by the equipment.