Mobile Payment System Multi-Method Transaction Processing
Find Innovative SolutionsGenerate Solutions
Solution Overview
Problem
Existing online transactional processing systems only allow one form of payment to be used per transaction, which can be cumbersome and insecure, especially when dealing with different types of goods or services.
Innovation Solution
A system and method that allows customers to use a mobile device to authorize payment for a customer order by accessing a database that stores multiple payment methods associated with different goods or services, enabling the use of multiple payment methods within a single transaction.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If one form of payment is used per transaction, then the payment processing is simple, but the convenience and security are reduced when dealing with different types of goods or services
Solution Approach 1:
The patent segments the payment process by associating different payment methods with different goods or services categories. Each good or service can be linked to specific payment methods, allowing the system to automatically select and process the appropriate payment method for each item rather than requiring a single payment method for the entire transaction.
Solution Approach 2:
The system implements multi-functionality by allowing a single transaction to utilize multiple payment methods simultaneously. The payment processing system can handle both credit card transactions and cash transactions within the same order, making the system adaptable to various customer preferences and goods types without requiring separate processing systems.
2Adaptability or versatility
If multiple payment methods are allowed in a single transaction, then the convenience and security are improved, but the system complexity increases
Solution Approach 1:
The system performs preliminary actions by pre-associating payment methods with specific goods or services categories in the database. Before the transaction occurs, the system is configured with rules that automatically determine which payment methods are applicable to which items, eliminating the need for complex real-time decision-making during the payment processing stage.
Solution Approach 2:
The payment processing system incorporates feedback mechanisms that automatically detect and adjust payment methods based on the goods or services being purchased. The system receives information about the transaction items, compares it against predefined associations, and automatically selects the appropriate payment methods, reducing the need for manual intervention and simplifying the user experience.
3Ease of operation
If automatic payment selection is implemented, then the ease of operation is improved, but the adaptability to different goods or services is reduced
Solution Approach 1:
The system implements dynamic payment method selection where the automatic selection process adapts to the specific goods or services being purchased. Rather than using a static default payment method, the system dynamically adjusts its selection based on real-time transaction details, allowing customers to benefit from automatic processing while still having customized payment options for different item types.
Data Source
AI summary
Techniques for related to retail transaction are disclosed. The techniques involve various uses allowing customers to pay for retail transaction using a mobile device, such as a cell phone. Payments for different goods or service in the transaction may be paid for using different methods of payments stored in a customer account.