Mobile Coupon Linking to Financial Accounts
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Solution Overview
Problem
Current methods for redeeming coupons are inconvenient and inefficient, requiring customers to either accept universal deals or clip paper coupons for in-store purchases, which is cumbersome for both consumers and merchants, especially when online discounts need to be redeemed at physical locations.
Innovation Solution
A system that enables mobile devices to link coupons to financial accounts, using a financial institution's database, communication interface, linking processor, authorization network, comparison processor, and discount processor to associate coupon data with account holders' accounts, allowing automatic credit when qualifying transactions occur, and includes features like optical character recognition and QR code scanning for data capture.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If paper coupons are used for redemption, then discounts can be applied at physical stores, but the process becomes cumbersome and inefficient for both consumers and merchants
Solution Approach 1:
The patent creates a digital copy of the paper coupon that can be stored and transmitted electronically through mobile devices. The system captures coupon data from various sources (manual entry, barcode scanning, optical character recognition) and creates an electronic representation that can be automatically verified and redeemed, eliminating the need for physical paper handling while preserving the discount functionality.
Solution Approach 2:
The patent replaces the mechanical process of physically clipping, carrying, and presenting paper coupons with an automated electronic system. Mobile devices capture and transmit coupon data electronically, and merchants use scanning or recognition systems to automatically verify and apply discounts, substituting manual mechanical operations with automated electronic processes.
2Adaptability or versatility
If online discounts are offered, then customers can access deals digitally, but redeeming them at physical locations requires printing and bringing physical coupons
Solution Approach 1:
The patent creates a universal coupon system that functions across multiple platforms and devices. The same coupon data can be accessed and redeemed through mobile web browsers, dedicated mobile applications, or other digital devices, making the system versatile and platform-independent while enabling seamless integration between online coupon distribution and offline redemption.
Solution Approach 2:
The patent introduces a digital intermediary layer between online coupon distribution and offline redemption. Mobile devices serve as the intermediary, capturing coupon data from online sources and transmitting it to merchants for redemption. This intermediary eliminates the need for physical printing and bridging the gap between digital and physical retail environments.
3Reliability
If manual coupon clipping and presentation is required, then discounts can be verified, but the process is inconvenient and reduces overall efficiency
Solution Approach 1:
The patent implements a self-service verification system where the mobile device automatically presents coupon data and the merchant's scanning system automatically verifies and applies the discount. The system performs self-verification through automated data capture, validation, and redemption processes, eliminating the need for manual verification while maintaining accuracy and significantly improving transaction speed.
Data Source
AI summary
A system for linking coupons to financial accounts using a mobile device that includes a financial institution database that stores an account of an account holder, a communication interface of a financial institution that receives, via a network, coupon data associated with one or more discounts from a mobile device of the account holder, a linking processor that associates the coupon data with the account of the account holder, an authorization network interface that receives transaction data relating to transactions associated with the account of the account holder, a comparison processor of a financial institution that determines compares the coupon data with the transaction data to determine whether a qualifying transaction has occurred, and a discount processor of a financial institution that provides a credit to an account holder when a qualifying transaction has occurred.