Dynamic Group Transaction Limits for Co-located Users
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Solution Overview
Problem
Current budget planning techniques fail to dynamically revise transaction limits based on user preferences and co-location, and there is no effective way to enforce joint purchases among group members, while e-commerce seeks to incentivize consumers to visit physical locations by increasing purchase probability with time and social presence.
Innovation Solution
A system that includes a processor and memory to manage transaction limits for individuals and groups, applying a joint transaction limit when group members are co-located, with incentives provided for remaining in a location based on time and social interaction.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If a fixed credit limit is established for budget control, then spending control is achieved, but the system cannot dynamically adapt to user preferences or co-location conditions
Solution Approach 1:
The patent implements dynamic transaction limits that automatically adjust based on user co-location status. When multiple users are detected at the same location via GPS or proximity sensors, the system transitions from individual static limits to a combined dynamic limit, allowing flexible spending control without manual intervention.
Solution Approach 2:
The system continuously monitors user locations and transaction histories, using this feedback to dynamically adjust transaction limits. The feedback loop detects when users arrive at common locations and automatically modifies spending limits in real-time based on predefined rules and user preferences.
2Ease of operation
If individual transaction limits are applied to each user, then spending control is maintained, but joint purchases require multiple approvals or separate transactions
Solution Approach 1:
The patent merges individual transaction limits into a unified group limit when users are co-located. The system combines the spending authorities of multiple users into a single dynamic limit that applies to joint transactions, eliminating the need for separate approvals while maintaining overall budget control through the aggregated limit.
Solution Approach 2:
The system pre-establishes rules for when transaction limits should be combined, such as when users are detected at the same location or when a transaction exceeds individual limits. This preliminary configuration allows the system to automatically apply appropriate limits without real-time decision-making, streamlining the transaction process.
3Productivity
If e-commerce provides incentives for online shopping, then online sales increase, but physical retail locations lose customer traffic
Solution Approach 1:
The patent introduces a mobile device as an intermediary that bridges online and offline shopping experiences. The system uses the mobile device to detect location, provide real-time spending limits, and offer incentives, effectively mediating between e-commerce convenience and physical retail engagement without requiring customers to choose one channel over the other.
Solution Approach 2:
The system dynamically changes transaction limit parameters based on location and user behavior. When users are at physical retail locations, the system adjusts spending limits and provides incentives, effectively using parameter changes to make physical shopping more attractive and adaptable to customer needs.
4Reliability
If consumers are given more time to shop physically, then purchase probability increases, but incentive structures must account for varying duration thresholds
Solution Approach 1:
The patent implements periodic evaluation of customer dwell time at physical locations, using time thresholds to trigger different incentive levels. The system monitors how long customers remain at the location and provides escalating incentives based on predefined time periods, creating a structured approach to encouraging longer visits without requiring continuous complex calculations.
Data Source
AI summary
Tandem transactions facilitated through automatic application of a tandem transaction limit are provided. A system includes a group manager that identifies a group including respective identifications indicative of a first user and a second user. A transaction limit manager establishes a first transaction limit for the first user, a second transaction limit for the second user, and a third transaction limit for a combination of the first and second user. A transaction manager dynamically applies the third transaction limit based on a determination that the first and second user are performing a joint transaction. The transaction manager revokes the third transaction limit after a threshold time and applies the first transaction limit to first user transactions and the second transaction limit to second user transactions. Incentives are provided if a user remains at a location for a threshold amount of time or causes other users to visit the location.