Merchant Availability Detection via Transaction Data Filtering
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Solution Overview
Problem
In payment card systems, potential customers often lack information on nearby merchants that are currently open for business, making it difficult for them to find available services or products, especially in unfamiliar locations.
Innovation Solution
A method and system that utilize transaction data to determine merchant availability by storing and filtering transaction information, including time and location, to provide real-time data on open merchants, which can be accessed through internet-connected devices, displaying this information on a map or list, and updating status indicators based on transaction activity.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Loss of information
If transaction data is stored and processed to provide real-time merchant availability information, then customer convenience and information accuracy are improved, but system complexity and data processing requirements increase
Solution Approach 1:
The patent introduces an intermediary system comprising a server and database that mediates between transaction processing systems and user devices. This intermediary aggregates, processes, and presents merchant availability information, reducing the complexity burden on individual components while ensuring accurate real-time information delivery to users.
Solution Approach 2:
The system segments the complex task of providing merchant availability information into distinct functional modules: transaction data capture, data storage in database, data processing and analysis, and information presentation through user interface. This segmentation allows each module to be optimized independently, managing overall system complexity.
2Measurement precision
If real-time transaction data is accessed and processed, then merchant availability information accuracy is improved, but data processing time and computational resources increase
Solution Approach 1:
The system performs preliminary actions by continuously capturing and storing transaction data in real-time as it occurs, rather than processing data on-demand. The database maintains up-to-date merchant availability status proactively, so when users query for merchant information, the data is already processed and ready for immediate presentation, reducing query response time while maintaining accuracy.
3Reliability
If comprehensive transaction data is stored for analysis, then merchant location and availability determination accuracy is improved, but data storage requirements and privacy concerns increase
Solution Approach 1:
The system extracts only the essential elements needed for determining merchant availability from comprehensive transaction data. Instead of storing and processing all raw transaction details, the system extracts key information such as merchant location, transaction timing, and transaction occurrence, discarding redundant data while maintaining sufficient information for accurate availability determination.
Data Source
AI summary
A method for determining merchant availability is provided. The method includes storing in an electronic storage device a database of merchant transactions; accessing information in the database concerning the transactions, including time of the transactions and locations for merchants participating in the transactions, and assembling the information to provide locations where a merchant is currently available for conducting business. A computer readable non-transitory storage medium storing instructions of a computer program, which when executed by a computer system, results in performance of steps of the method.