Electronic Stored-Value Card Management via Geolocation Pausing
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Solution Overview
Problem
The increasing complexity and management burden of various credit, debit, stored-value, and loyalty cards make it difficult for consumers to organize, access, and utilize their card-related assets efficiently, as physical cards are susceptible to loss, theft, and require manual tracking and storage.
Innovation Solution
The implementation of electronic stored-value cards (eSVCs) using intelligent codes, such as QR codes, that can be scanned to initiate transactions, allowing for the registration of cards into electronic wallets and eliminating the need for physical cards, thereby simplifying management and enhancing security.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If physical stored-value cards are used, then transactions can be conducted, but the cards are susceptible to loss, theft, and require manual tracking and storage
Solution Approach 1:
The patent replaces physical stored-value cards with electronic copies stored in mobile wallets. The electronic card contains the same transactional functionality but eliminates physical susceptibility to loss and theft. Users can store multiple card copies in their mobile devices, eliminating the need for physical card management while maintaining transaction capability.
Solution Approach 2:
The patent substitutes the mechanical physical card system with an electronic digital system. Instead of carrying plastic cards, users interact with electronic card representations through mobile devices. This substitution eliminates physical handling, storage, and transportation requirements while maintaining the core transaction function through electronic communication with merchants.
2Adaptability or versatility
If multiple physical cards are carried, then various card-related assets can be accessed, but organization and management become increasingly difficult
Solution Approach 1:
The patent merges multiple separate physical cards into a single unified mobile device interface. Users can store multiple electronic card representations (different card types, merchants, promotions) within one mobile wallet application. This consolidation allows access to diverse card assets without the physical complexity of carrying and organizing multiple separate cards.
Solution Approach 2:
The patent creates a universal mobile device platform that can store and manage multiple types of card-related assets (stored-value cards, loyalty cards, promotional cards) in a single application. This multi-functional system replaces the need for separate physical cards for different purposes, providing unified access while reducing organizational complexity.
3Productivity
If physical cards are used, then transactions can be performed, but manufacturing and distribution costs are incurred
Solution Approach 1:
The patent eliminates the need for physical card manufacturing by using electronic copies stored in mobile devices. Instead of producing and distributing physical plastic cards, the system creates and transmits digital card representations through electronic communication. This approach maintains full transaction capability while eliminating manufacturing and distribution costs associated with physical card production.
Data Source
AI summary
A system and method for receiving a request convert a representation of value into a value token. The system receiving an indication of the specific purchasing activity. The system determining a geographic location of the specific purchasing activity. The system converting the representation of value into the value token. The system pausing providing the value token for a period of time based on the geographic location of the specific purchasing activity.