Digital Wallet Asset Transfer via Mobile Payment Engine

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Solution Overview

Problem

Current systems for transferring financial and gatekeeping transactions lack integration with digital experiences and convenience, especially when using modern consumer electronic devices.

Innovation Solution

The development of systems, methods, and computer-readable media that enable the transfer of assets from one digital card in a digital wallet application to another, using a mobile payment engine to facilitate transactions through radio signals or optical codes, allowing for user approval and conditional transfers between different accounts and devices.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Adaptability or versatility

If traditional financial transaction systems are used, then transaction capability exists, but digital integration and convenience are insufficient

Engineering Contradiction:

Improvedigital integrationVSAvoidconvenience

Core Design Contradiction:

Adaptability or versatilityVSEase of operation

Solution Approach 1:

The patent creates digital copies of physical financial instruments and gatekeeping credentials by encoding them as digital assets on a blockchain. These digital copies can be stored in wallets, transferred between devices, and presented for transactions, replacing the need for physical cash, cards, and tickets while maintaining full functionality.

Inventive Principle:

Principle #26Copying

Solution Approach 2:

The patent replaces mechanical and physical transaction systems with digital and cryptographic systems. Physical payment methods (cash, cards) and gatekeeping instruments (tickets, passes) are substituted with digital asset transfers verified through blockchain technology, enabling seamless integration with modern electronic devices.

Inventive Principle:

Principle #28Mechanics substitution (Replace mechanical system)

2Adaptability or versatility

If digital asset transfer is enabled between different accounts, then versatility improves, but security and approval requirements increase complexity

Engineering Contradiction:

Improvetransfer capabilityVSAvoidapproval process

Core Design Contradiction:

Adaptability or versatilityVSDevice complexity

Solution Approach 1:

The patent implements a feedback mechanism where the receiving account or designated authority provides approval confirmation before the digital asset transfer is finalized. This feedback loop ensures security and authorization while maintaining the efficiency of digital transfers, allowing the system to handle complex multi-party transactions systematically.

Inventive Principle:

Principle #23Feedback

Data Source

PatentUS9524500B2Transferring assets

Publication Date: 2016.12.20 APPLE INC

AI summary

Disclosed herein are systems, methods, and non-transitory computer-readable storage media for sending transfer requests, receiving approvals, and carrying out transfers in a digital wallet application. A mobile payment engine receives a request from a client application associated with a first digital card to apply assets from at least one additional digital card to the first digital card, receives receiving approval to transfer assets from the at least one additional digital card to the first digital card, and transfers the assets to the first digital card. Transfers can be made between digital cards in the same client's digital wallet application and transfers can be made between multiple client device accounts.