Mobile Payment Code and Nickname Subsystem for Merchant Cost Reduction
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Solution Overview
Problem
Current mobile payment systems are costly for in-store merchants to implement and require new hardware and software upgrades, and online purchases often necessitate providing extensive personal information, which increases data security risks.
Innovation Solution
A mobile payment method that uses a code to represent merchants, allowing users to authenticate and complete transactions using NFC, QR codes, location-based methods, and manual input, while enabling online purchases with shortened names or nicknames to reduce personal information disclosure.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If NFC or QR code mobile payment methods are implemented, then mobile payment functionality is improved, but hardware and software upgrade costs increase
Solution Approach 1:
The patent uses a code (such as QR code or barcode) that represents the merchant as a copy of the merchant's identity, which can be read by existing POS systems without requiring NFC hardware upgrades. This copying approach allows mobile payment functionality to be added while reusing existing system components.
Solution Approach 2:
The patent introduces a code as an intermediary element between the merchant and the payment system. The code serves as a mediator that existing POS systems can read without modification, while still enabling mobile payment processing through the transaction center.
2Reliability
If extensive personal information is collected for online purchases, then authentication accuracy is improved, but data security risks increase
Solution Approach 1:
The patent extracts only the necessary minimum information (code and shortened name) from the user for online purchases, separating this essential authentication data from other optional personal information. This extraction approach maintains authentication capability while reducing data security exposure.
Solution Approach 2:
The patent changes the parameter of name representation from full name to shortened name or nickname, reducing the amount of personal information required while maintaining sufficient identification capability for transaction purposes.
Applied Scientific Principles
This section explains which scientific principles are used to turn an abstract innovation direction into a practical engineering solution.
Function Achieved in This Case
This approach reduces the financial burden on in-store merchants by utilizing existing POS systems and enhances online privacy by minimizing personal information shared during transactions, improving the adoption of mobile payments and protecting user data.
Implementation Method 1
both near-field communication (NFC) and quick response (QR) code are popular mobile payment methods
Implementation Method 2
both near-field communication (NFC) and quick response (QR) code are popular mobile payment methods
Data Source
AI summary
Systems and methods for implementing payments or mobile payments. In an aspect of in-store purchase, a merchant sends a payment amount and merchant account info to transaction center. A buyer sends a code and buyer account info to transaction center. The code represents the merchant. In an aspect of online purchase, an e-commerce merchant provides options for a buyer to use names other than a first name plus a surname. In one embodiment, a buyer submits a shortened name or nickname for online purchases when a given payment service is used as a payment method.