Friendly Funding Source Payment Substitution
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Solution Overview
Problem
Consumers may not be able to complete online purchases due to insufficient funds or credit, resulting in lost sales for sellers and purchases for buyers, as existing payment systems do not provide adequate alternative funding options.
Innovation Solution
A payment provider system allows users to designate 'friendly funding sources,' which are other users with accounts, setting limits for funding, enabling purchases even when the primary account lacks sufficient funds, by notifying and involving the friend in the transaction process.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If a user specifies a traditional funding source (credit card, bank account), then the payment provider can process the payment, but the payment is denied when there are insufficient funds or credit
Solution Approach 1:
The patent introduces a friendly funding source as an intermediary between the payer and the payment provider. When a user's traditional funding sources are insufficient, the system automatically or manually substitutes or supplements with funds from a pre-designated friend's account, enabling the payment to complete successfully while maintaining the original transaction intent.
Solution Approach 2:
The system changes the funding source parameter dynamically. Instead of relying on a single static funding source (user's own account), the system allows substitution with alternative funding sources (friends' accounts) when the primary source is insufficient, thereby adapting the payment parameters to ensure completion.
2Adaptability or versatility
If a user designates friends as funding sources, then alternative funding options are provided, but the system complexity increases with limit setting and notification requirements
Solution Approach 1:
The system performs preliminary actions by having users pre-designate friendly funding sources and set spending limits before actual payments are needed. This advance configuration simplifies the payment process at the time of transaction, as the system only needs to check and apply pre-established rules rather than making complex decisions in real-time.
Solution Approach 2:
The patent segments the funding source functionality into distinct components: the user's own funds, designated friends' funds, and automated rules for selecting and limiting each source. This segmentation allows the system to manage complexity by handling each funding source independently with its own rules and limits.
3Ease of operation
If friendly funding sources are used without limits, then users can make any purchase, but abuse and unauthorized use may occur
Solution Approach 1:
The system establishes spending limits and authorization rules in advance before any actual transactions occur. Friends designate maximum amounts, per-transaction limits, and acceptable merchants beforehand, preventing abuse while maintaining ease of operation during actual purchases.
Solution Approach 2:
The system implements feedback mechanisms where friends receive notifications about their friends' spending activities and can adjust or revoke limits based on observed usage patterns. This continuous feedback loop prevents abuse while maintaining user-friendly operation.
Data Source
AI summary
A user can select one or more friendly funding sources to make a payment. The friendly funding sources are pre-approved by a “friend” of the user and have restrictions for use. When the user desires to make a payment, the user sees one or more friendly funding sources and can choose any combination of friendly funding sources and conventional funding sources for making the payment.