Integrated Payment System for Discount Redemption and Transaction Processing
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Solution Overview
Problem
Existing systems for providing and redeeming discounts in consumer transactions are inefficient and complex, lacking a user-friendly and integrated solution for merchants to process large numbers of payment transactions and manage deal offerings.
Innovation Solution
A system and method that integrates discount redemption into a single device, allowing merchants to determine available discounts, apply them to transactions, and facilitate payment processing across networks, using remote devices to complete transactions efficiently and intuitively.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If traditional discount systems (coupons and rebates) are used, then consumers can receive discounts, but the systems become complex and inefficient for merchants to process
Solution Approach 1:
The patent combines multiple discount management functions (coupon issuance, redemption tracking, rebate processing, and payment integration) into a single integrated system. This merging eliminates the need for separate manual processes for each discount type, reducing system complexity while maintaining comprehensive discount capabilities.
Solution Approach 2:
The system is designed to handle multiple types of discounts (coupons, rebates, promotional offers) through a universal platform that can process various discount structures. This multi-functionality allows merchants to manage all discount programs through one system rather than requiring separate systems for each discount type.
2Productivity
If merchants manually process each discount transaction, then accuracy can be maintained, but processing speed decreases for large numbers of transactions
Solution Approach 1:
The system implements automated self-service capabilities where the discount system automatically calculates discounts, validates coupon authenticity, tracks redemption status, and processes payments without requiring manual intervention for each transaction. This automation dramatically increases processing speed while maintaining accuracy through systematic validation rules.
Solution Approach 2:
The patent replaces manual mechanical processing of discount transactions with an automated electronic system that uses computer algorithms to calculate discounts, validate coupons, and process payments. This substitution eliminates the time-consuming manual steps while maintaining or improving accuracy through consistent automated validation.
3Adaptability or versatility
If multiple separate systems are used for discounts and payments, then each system can be optimized independently, but integration and user experience suffer
Solution Approach 1:
The patent merges the discount management system with the payment processing system into a single integrated platform. This integration allows discounts to be automatically applied during the payment process, eliminating the need for separate redemption steps and creating a seamless user experience while maintaining the flexibility to handle various discount types.
Data Source
AI summary
Provided herein are systems, methods and computer readable storage media for facilitating payments for consumer transactions and redemption of deal offerings. In providing such functionality, the system can be configured to, for example, receive payment for one or more products, determine a deal voucher's current value and cause the redemption of the deal voucher.