Consolidated Purchase Card System for Multi-Vendor Billing

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Solution Overview

Problem

Consumers face difficulties managing multiple payment cards and receiving individual billing statements from various vendors, leading to cumbersome payment processes and a lack of centralized management for purchase, billing, and payment transactions.

Innovation Solution

A consolidated purchase, payment, and billing system is implemented, where a service provider issues a single purchase card accepted by multiple vendors, aggregating individual billing statements into a consolidated statement, allowing account holders to review and pay vendors electronically while preserving vendor brand identity and promotional opportunities.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Adaptability or versatility

If consumers carry multiple vendor-issued cards to maintain brand identity and receive individual billing statements, then vendor brand identity and promotional opportunities are preserved, but payment management complexity and the number of cards to carry increases

Engineering Contradiction:

Improvevendor brand identity preservationVSAvoidpayment management complexity

Core Design Contradiction:

Adaptability or versatilityVSDevice complexity

Solution Approach 1:

The patent combines multiple individual billing statements from different vendors into a single consolidated billing statement. The system aggregates purchase transactions from multiple vendors and presents them together in one statement, allowing consumers to manage all their purchases through a single card while vendors retain their brand identity on the consolidated statement.

Inventive Principle:

Principle #5Merging (Combining)

Solution Approach 2:

The consolidated purchase card serves as a universal payment instrument that can be used at multiple vendor locations. Instead of requiring separate vendor-issued cards for each merchant, a single consolidated card provides access to multiple vendors while maintaining the ability to preserve individual vendor brand identities on the billing statement.

Inventive Principle:

Principle #6Universality (Multi-functionality)

2Device complexity

If consumers use a single consolidated purchase card accepted by multiple vendors, then payment management is simplified and the number of cards carried is reduced, but the ability to receive individual billing statements from each vendor is lost

Engineering Contradiction:

Improvenumber of cards to carryVSAvoidindividual billing statement details

Core Design Contradiction:

Device complexityVSLoss of information

Solution Approach 1:

While consolidating multiple billing statements into one, the system segments the information by vendor within the consolidated statement. Each vendor's purchases are clearly separated and identified, preserving individual vendor brand identities and transaction details while presenting them together in a single unified statement that simplifies payment management.

Inventive Principle:

Principle #1Segmentation

3Ease of manufacture

If traditional paper check payment methods are used, then payments can be made without electronic systems, but the payment process becomes cumbersome requiring recording payments and mailing envelopes

Engineering Contradiction:

Improvepayment processing simplicityVSAvoidtime required for payment processing

Core Design Contradiction:

Ease of manufactureVSLoss of time

Solution Approach 1:

The patent replaces the mechanical paper-based payment system (writing checks, mailing envelopes) with an electronic payment system. Purchases made with the consolidated purchase card are automatically charged, and payments are processed electronically through the financial institution, eliminating the need for manual check writing and mailing while providing automated payment tracking.

Inventive Principle:

Principle #28Mechanics substitution (Replace mechanical system)

Data Source

PatentUS8117100B1Systems and methods for managing consolidated purchasing, billing and payment information

Publication Date: 2012.02.14 UNITED SERVICES AUTOMOBILE ASSOCIATION (USAA)

AI summary

A method, system and computer-usable medium are disclosed for managing purchase, billing, and payment transactions. A unique identifier of a consolidated purchase card account, issued by a service provider to a user, is accepted by a plurality of vendors as a proxy of the unique identifier of their own vendor-issued purchase card account. Purchase transactions resulting from acceptance of the consolidated purchase card account are processed to produce an individual billing statement for each vendor. The individual billing statements are aggregated into a consolidated billing statement by the service provider, which is then presented to the user on behalf of each vendor. The user reviews the consolidated billing statement and provides payment instructions to the service provider. The payment instructions are processed to pay funds from a funding account of the user to each respective vendor.