Interactive Digital Receipt for POS Financing Response
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Solution Overview
Problem
Existing mobile payment systems lack an efficient mechanism for offering financing options to customers during point-of-sale transactions, leading to increased transaction costs and latency due to unnecessary network interactions.
Innovation Solution
Implementing an interactive digital receipt that allows customers to accept or decline financing offers directly on their devices, reducing network transactions and latency by deferring payment processing until a response is received.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Loss of time
If traditional payment processing is used with immediate network transmission, then transaction reliability is maintained, but transaction latency increases and network costs increase
Solution Approach 1:
The system performs preliminary actions by storing transaction data locally on the mobile device and pre-generating the digital receipt before network confirmation is received. This allows the receipt to be displayed immediately to the customer without waiting for network processing, thereby reducing transaction latency while maintaining reliability through subsequent network synchronization.
Solution Approach 2:
The payment processing is segmented into two independent phases: (1) local processing phase where transaction data is stored and receipt is generated locally on the device, and (2) network synchronization phase where transaction details are transmitted for confirmation. This segmentation allows the time-critical receipt generation to proceed without network delays while reliability is ensured in the synchronization phase.
2Ease of operation
If financing offers are integrated into the payment flow, then customer convenience is improved, but device complexity increases
Solution Approach 1:
The digital receipt system is designed with multi-functionality to serve multiple purposes: (1) serving as a transaction confirmation receipt, (2) delivering financing offers to customers, and (3) collecting customer responses to financing offers. By combining these functions into a single unified interface, the system improves customer convenience without proportionally increasing complexity, as the same infrastructure handles multiple tasks.
Solution Approach 2:
The financing offer delivery mechanism is merged with the existing digital receipt delivery system. Instead of creating a separate financing offer channel, the patent integrates financing offers into the receipt email or notification that customers already expect to receive. This merging approach allows financing functionality to be added while reusing existing infrastructure, thereby limiting the increase in system complexity.
Data Source
AI summary
In some examples, a system receives an indication of a payment for a transaction between a first user and a second user, and initiated using a physical card or a virtual card associated with an account of the first user. A notification representative of the transaction is presented via a user interface of a user device of the first user and includes transaction details associated with the transaction, and further includes an interactive component to enable the first user to finance an amount for at least a portion of the payment in lieu of using funds from the account of the first user. Based on receiving an indication of an interaction with the interactive component, the second user is paid using funds associated with the amount financed. A series of payments are initiated at least from the account of the first user for repayment of at least the amount financed.