Electronic Wallet Checkout Platform Externalizing Payment Data
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Solution Overview
Problem
Online shopping experiences are marred by security risks and inconsistent user experiences due to the exposure of customer data during checkout and payment processes, with merchants often storing sensitive information that is vulnerable to breaches, and existing payment systems providing disparate experiences across websites.
Innovation Solution
The Electronic Wallet Checkout Platform (EWCP) externalizes the checkout and payment flow from merchant-driven models, using a secure platform to facilitate purchases through an e-wallet that keeps customer information private and provides a consistent experience across merchants, allowing users to authenticate and authorize payments without revealing personal details to merchants.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If merchants store customer data for checkout and payment processes, then payment functionality is enabled, but security risks increase due to vulnerable data storage
Solution Approach 1:
The patent extracts sensitive customer data storage from the merchant system and relocates it to a secure e-wallet platform. The merchant system only retains minimal transaction information, while the e-wallet securely stores and manages customer payment data, thereby enabling payment functionality while eliminating the security vulnerability of merchant data storage.
Solution Approach 2:
The e-wallet platform serves as an intermediary between customers and merchants. It mediates the payment process by handling sensitive data storage, authentication, and transaction authorization, allowing merchants to process payments without directly accessing or storing customer sensitive information, thus resolving the contradiction between payment functionality and security risks.
2Productivity
If merchants implement their own checkout systems, then payment processing is achieved, but user experience consistency deteriorates across different websites
Solution Approach 1:
The e-wallet platform provides a universal checkout solution that can be integrated across multiple merchant websites. It offers consistent authentication, payment selection, and transaction management interfaces regardless of which merchant website the customer is using, thereby maintaining user experience consistency while enabling payment processing across diverse platforms.
Solution Approach 2:
Instead of having each merchant implement their own checkout system (merchant-driven model), the patent inverts the approach by having a centralized e-wallet platform drive the checkout process (customer-driven model). This inversion ensures that all merchants use the same standardized checkout interface and flow, guaranteeing consistent user experience across different websites while maintaining efficient payment processing.
3Adaptability or versatility
If customer data is exposed during checkout, then transaction authorization is obtained, but data privacy is compromised
Solution Approach 1:
The e-wallet acts as an intermediary that enables transaction authorization without exposing customer data to merchants. It handles authentication and authorization processes securely, transmitting only necessary transaction information to merchants while keeping sensitive customer information private, thus achieving both transaction authorization and data privacy protection.
Solution Approach 2:
The patent extracts sensitive customer information from the checkout flow and keeps it within the secure e-wallet environment. The e-wallet processes authentication and authorization internally without exposing customer data to external merchant systems, thereby obtaining necessary transaction authorization while maintaining data privacy through selective information disclosure.
Data Source
AI summary
The ELECTRONIC WALLET CHECKOUT PLATFORM APPARATUSES, METHODS AND SYSTEMS (“EWCP”) transform customer purchase requests triggering electronic wallet applications via EWCP components into electronic purchase confirmation and receipts. In one implementation, the EWCP receives a merchant payment request, and determines a payment protocol handler associated with the merchant payment request. The EWCP instantiates a wallet application via the payment protocol handler. The EWCP obtains a payment method selection via the wallet application, wherein the selected payment method is one of a credit card, a debit card, a gift card selected from an electronic wallet, and sends a transaction execution request for a transaction associated with the merchant payment request. Also, the EWCP receives a purchase response to the transaction execution request, and outputs purchase response information derived from the received purchase response.