Digital Pass Referral Link for Secure Member Acquisition
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Solution Overview
Problem
Traditional member acquisition methods for transaction accounts are cumbersome and inefficient, requiring existing members to have a transaction account and share extensive personally identifying information, which can deter new members from applying and complicate the application process.
Innovation Solution
A system that generates a digital pass for existing transaction account users, allowing them to share a selectable and scannable link or indicator with prospective users, streamlining the application process by capturing minimal personally identifying information and utilizing a credit rating agency for identity verification, and providing rewards for successful applications.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Productivity
If traditional member acquisition methods are used where existing members provide transaction accounts and personally identifying information, then new members can be acquired, but the application process becomes cumbersome and complex
Solution Approach 1:
The patent extracts the core identification function from the traditional transaction account model. Instead of requiring existing members to share their full transaction account details and personally identifying information, the system extracts only the essential referral capability into a separate digital pass with a selectable link. This separation allows new members to apply through a simplified process while still enabling tracking of the referral source.
Solution Approach 2:
The digital pass acts as an intermediary element between the existing member and the new member application process. Rather than directly sharing sensitive account information, the selectable link in the digital pass serves as a mediator that transmits referral information through the system in a controlled and simplified manner, reducing the complexity for both parties.
2Reliability
If existing members share extensive personally identifying information with prospective new members, then referral tracking is enabled, but prospective members are deterred from applying
Solution Approach 1:
The system extracts the referral tracking function from the personally identifying information itself. Instead of requiring existing members to share sensitive personal data, the patent extracts only the necessary referral identification into a digital pass with a selectable link. This extraction maintains referral tracking reliability while eliminating the need for prospective members to handle or share extensive personal information.
Solution Approach 2:
The digital pass creates a simplified copy or representation of the referral relationship. Rather than requiring exchange of actual personally identifying information, the system uses a digital pass that copies the essential referral linkage through a selectable link, maintaining traceability while protecting privacy and simplifying the interaction.
3Productivity
If existing members must have a transaction account on hand to refer new members, then referral sources are identified, but members without accounts cannot participate in acquisition
Solution Approach 1:
The digital pass system creates a universal referral mechanism that can serve multiple functions and user types. The selectable link in the digital pass can be generated and shared regardless of whether the existing member has an active transaction account, enabling broader participation in the acquisition process while maintaining the ability to identify and track referral sources through the system.
Data Source
AI summary
The systems, methods, and computer readable mediums described herein provide a secure method for a transaction account issuer to issue a digital pass to an existing transaction account holder (e.g., an existing user) that may be shared and/or provided to a prospective transaction account holder (e.g., a new user). The digital pass may be sharable from an existing user's user device to a new user's user device. The systems, methods, and computer readable mediums described herein may also employ an adaptive web design solution to increase application completion rates by capturing minimal viable information from a prospective member.