Location-Based Mobile Payment System for Immediate Merchant Pickup
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Solution Overview
Problem
In online financial transactions, customers face inconvenience due to the lack of awareness about the physical location of products or merchants, leading to delayed receipt of purchased items as transactions often rely on shipping.
Innovation Solution
A system and method for facilitating location-based mobile commerce, where a user's mobile device determines their location, allowing them to select nearby merchants and make payments directly through the device, eliminating the need for manual entry of merchant account information and enabling immediate pickup of purchased items.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Loss of time
If customers purchase products online without knowing the physical location of merchants, then transactions can be completed remotely, but customers experience delayed receipt of products due to shipping
Solution Approach 1:
The system performs preliminary location determination and merchant identification before the transaction is completed. By using GPS and other location services to identify nearby merchants in advance, the system enables customers to make informed decisions about where to purchase items, allowing them to immediately collect products at the merchant's physical location rather than waiting for shipping
Solution Approach 2:
The system acts as an intermediary between customers and merchants by providing location-based information services. It bridges the information gap by determining customer location, identifying nearby merchants, and presenting merchant information to customers, thereby enabling customers to transition from remote online shopping to local in-person transactions
2Ease of operation
If customers manually enter merchant account information for payments, then payment accuracy can be ensured, but the transaction process becomes more complex and time-consuming
Solution Approach 1:
The system enables self-service payment by automatically retrieving and populating merchant account information from the merchant's profile or database. When a customer selects a merchant, the system automatically fetches the merchant's account details and pre-fills the payment form, eliminating the need for customers to manually enter account information and reducing payment process complexity
Solution Approach 2:
The system performs preliminary retrieval and verification of merchant account information before the payment step. By having the merchant's account details pre-stored and pre-validated in the system database, the payment process is streamlined to require only customer confirmation rather than manual data entry, reducing both time and complexity
Data Source
AI summary
A user's location is determined by location information communicated by a user device, such as a smart phone. Merchants near the user location are determined and selected. Merchant payment information is transmitted to the user device so that the user can easily make a payment to the merchant through the user device. Merchant offerings may also be sent to the user device for purchase and subsequent payment, where the merchant offerings may be specifically selected for the user.