Group Payment System with Intermediary Allocation
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Solution Overview
Problem
Current digital payment systems lack an efficient and frictionless method for facilitating group payments, which can complicate transactions among multiple users.
Innovation Solution
A system and method that allow users to initiate and manage group payments through a user-friendly interface, enabling selection of participating users, allocation of payment amounts, and automatic invoicing and payment processing.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If traditional payment systems are used for group payments, then payment processing capability is maintained, but transaction complexity increases and user convenience deteriorates
Solution Approach 1:
The patent introduces a payment service provider as an intermediary that manages the complex group payment coordination between multiple users. The intermediary handles participant selection, payment allocation calculation, and invoice generation, thereby reducing the operational complexity for users while maintaining efficient payment processing through the intermediary's specialized systems.
2Productivity
If manual group payment coordination is used, then system simplicity is maintained, but payment processing efficiency decreases and time consumption increases
Solution Approach 1:
The system performs preliminary actions by pre-calculating payment allocations and generating invoices before the actual payment transaction. The payment service provider prepares all necessary payment details, participant assignments, and allocation breakdowns in advance, enabling rapid processing when users initiate the payment, thus reducing overall time consumption while maintaining high processing efficiency.
3Reliability
If detailed payment allocation tracking is implemented, then payment accuracy is improved, but system complexity increases and ease of operation decreases
Solution Approach 1:
The payment service provider implements self-service mechanisms where the system automatically calculates payment allocations, generates invoices, and tracks transactions without requiring manual intervention. The detailed allocation tracking is performed autonomously by the system based on pre-established rules and participant selections, thereby maintaining high payment accuracy while avoiding the complexity increase that would result from manual tracking systems.
Data Source
AI summary
Based on detecting a selection, by a first user, of a group payment option on a merchant interface, the computer system launches a user selection user interface that includes one or more user selection interface elements that correspond to one or more users associated with the first user. Based on detecting a selection of one or users, the computer system launches a group payment user interface that includes one or more payment allocation user interface elements that corresponds to a payment allocation for the selected users. Based on detecting a confirmation of a first payment allocation plan, the computer system processes a payment for the purchase and further transmits invoices to the selected users which include an allocated payment amount.