Geo.Chip Geocaching for Digital Wallet Adoption
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Solution Overview
Problem
The adoption of digital wallet services using 'bump' technology for mobile devices is slow due to lack of incentives for widespread use in the marketplace.
Innovation Solution
A computer-based method and system for transferring electronic units of value to mobile devices, involving the use of geo.Chips with unique identifiers, where mobile devices can interrogate these chips using NFC or other short-range communication technologies, and upon verification of proximity and active offers, credit the associated account with value, promoting the use of contactless payment transactions.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If digital wallet service is implemented with bump technology, then convenience and security of payment are improved, but adoption rate is slow due to lack of consumer incentive
Solution Approach 1:
The patent embeds geo.Chips within existing physical objects (merchandise, packaging, displays) that consumers already interact with. The digital wallet functionality is nested within the geocaching game experience, allowing consumers to discover and redeem offers through NFC interactions with these embedded chips, thus promoting adoption without requiring separate dedicated devices
Solution Approach 2:
The patent introduces a geocaching game as an intermediary layer between the digital wallet technology and consumers. This game layer provides incentives (discounts, rewards) that motivate consumers to engage with the bump technology, effectively mediating between the technical capability and user adoption
2Measurement precision
If geo.Chips are embedded in multiple locations and verified through geolocation, then accuracy of offer redemption is improved, but complexity of system is increased
Solution Approach 1:
The mobile device's built-in NFC reader and GPS receiver perform the verification functions automatically without requiring additional dedicated hardware. The system leverages existing capabilities of consumer mobile devices to read geo.Chips and verify geolocation, eliminating the need for complex additional verification infrastructure
Solution Approach 2:
The patent adds a geographic dimension to the verification process by embedding location data within the geo.Chip and verifying the mobile device's GPS coordinates match the expected location. This spatial dimension enables precise location verification using existing mobile device capabilities rather than requiring complex additional hardware
Applied Scientific Principles
This section explains which scientific principles are used to turn an abstract innovation direction into a practical engineering solution.
Function Achieved in This Case
This method incentivizes consumers to use digital wallet services by creating a geocaching experience that encourages interaction with merchants and promotes the adoption of contactless payment technologies, enhancing consumer awareness and usage of mobile NFC apps for financial transactions.
Implementation Method 1
initiating, by the mobile device, a transfer of an identifier encoded in a geo.Chip to the mobile device
Data Source
AI summary
A method and system for transferring electronic units of value to a mobile device using a computer device coupled to a database are provided. The method includes establishing a transfer account associated with the mobile device, initiating, by the mobile device, a transfer of an identifier encoded in a geo.Chip to the mobile device, receiving, by the mobile device, the identifier and a geolocation of the mobile device, transmitting the received identifier and geolocation for verification of the identifier using the geolocation, and receiving, by the mobile device, an indication of the units of value associated with the geo.Chip location.