Converged Merchant Processing Account Enrollment
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Solution Overview
Problem
Consumers face the inconvenience of manually entering personal information to create accounts with merchants, leading to time-consuming processes and potential errors, especially when transitioning from in-store to online shopping experiences.
Innovation Solution
A system and method that enables users to enroll in membership accounts without manual input by utilizing existing payment information stored in their profiles, where a payment processing network identifies and transmits necessary information to the merchant, allowing for automatic account creation based on pre-existing data.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If users manually enter personal information to create accounts, then account creation can be completed, but the process becomes time-consuming and error-prone
Solution Approach 1:
The system performs preliminary actions by collecting and storing user personal information during the initial payment transaction at the point of sale. The payment gateway captures user data (name, address, email, phone number) when processing the payment, stores it securely, and makes it available for future account creation without requiring users to re-enter the information manually.
Solution Approach 2:
The payment gateway acts as an intermediary between the payment processing system and the account creation system. It captures user information during payment, stores it securely, and transmits it to the account creation system when needed, eliminating the need for users to manually input data again and reducing both time and errors.
2Ease of operation
If users manually input detailed personal information, then complete account data can be obtained, but user convenience decreases and errors increase
Solution Approach 1:
The system enables self-service by automatically retrieving and populating user account information from previously stored payment data. When a user initiates account creation, the system automatically fetches their name, address, email, and phone number from the payment gateway's stored data, allowing users to complete account creation without manual input, thereby improving convenience and eliminating entry errors.
3Productivity
If alternative account creation methods are used (e.g., phone registration), then account setup can be completed, but data transmission increases and errors may occur
Solution Approach 1:
The system performs preliminary data capture during the payment transaction, storing complete user information in the payment gateway's database. This preliminary action eliminates the need for subsequent data collection through alternative methods, reducing both the time required for account creation and the volume of data transmissions needed to complete the process.
Solution Approach 2:
The payment gateway serves as an intermediary that maintains a single source of truth for user information. Instead of collecting data multiple times through different channels (phone, web forms, etc.), the system retrieves information once from the payment gateway's stored data, minimizing data transmission volume and eliminating redundant collections.
Data Source
AI summary
The CONVERGED MERCHANT PROCESSING APPARATUSES, METHODS AND SYSTEMS (“CMP”) facilitates the generation of user accounts with merchants. The user may be logged into an electronic wallet or issuer account, and may initiate an account generation process with a one-click mechanism. The CMP may provide information to the merchant in order to facilitate the generation of the account after receiving data from the electronic wallet or issuer.