Dynamic Payment Application Selection for Issuer-Specific Services
Find Innovative SolutionsGenerate Solutions
Solution Overview
Problem
Conventional payment systems are standardized and cannot deliver unique cardholder experiences, failing to provide value-added services or applications during transactions, as they cannot dynamically select applications from issuer or external systems for use in payment processes.
Innovation Solution
A method and system for dynamically selecting electronic service applications based on issuer institution identification during transactions, allowing for modification of transactions and integration of value-added services without manual user intervention, using processor determination of identification data and electronic service application data stored in merchant systems.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If conventional standardized payment systems are used, then system simplicity and ease of operation are maintained, but adaptability and ability to deliver unique cardholder experiences are lost
Solution Approach 1:
The payment system dynamically selects and applies different applications based on real-time determination of issuer institution identification data. The system transitions from a static, predetermined process to a dynamic one where the application used during the transaction can change based on the issuer identified, enabling customized cardholder experiences without requiring multiple separate systems
Solution Approach 2:
The payment system is segmented into distinct functional components: a first application for standard payment processing and a second application for value-added services. This segmentation allows each application to be optimized for its specific function while the overall system maintains adaptability by selecting which application to use based on the transaction context and issuer identification
2Productivity
If predetermined payment processes are used, then system reliability and ease of operation are maintained, but productivity and transaction efficiency are reduced due to manual user intervention
Solution Approach 1:
The system performs automated determination of issuer institution identification data and automatic selection of the appropriate application without requiring manual user intervention. The system serves itself by making intelligent decisions about which application to use based on the transaction data and issuer information, eliminating the need for users to manually present offers or coupons
Solution Approach 2:
The system determines the issuer institution identification data and selects the appropriate application before the actual payment transaction is processed. This preliminary action ensures that the correct application is ready and configured in advance, improving transaction efficiency by avoiding delays during the payment process
3Adaptability or versatility
If standardized payment systems are used, then device complexity is minimized, but adaptability to different issuer institutions and merchants is lost
Solution Approach 1:
The payment system is designed with multi-functionality, capable of operating in both standardized mode (using the first application) and customized mode (using the second application). This universal design allows the same system to serve diverse needs of different issuer institutions and merchants without requiring separate specialized systems for each case
Data Source
AI summary
A system, method, and computer program product for dynamic application selection for payment transactions determines identification data of an issuer institution associated with a portable financial device based at least partially on transaction data associated with at least one transaction at a merchant with the portable financial device. At least one electronic service application of a plurality of electronic service applications is determined based at least partially on the identification data of the issuer institution. Electronic service application data associated with the at least one electronic service application and stored in association with the issuer institution is accessed at a merchant system of the merchant. The at least one transaction is modified based at least partially on the electronic service application data associated with the at least one electronic service application. Authorization response message is received after communicating an authorization request message associated with the at least one modified transaction.