Mobile Payment Device Consolidating POS and Inventory
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Solution Overview
Problem
Traditional brick-and-mortar stores face issues with user experience due to fixed layouts and cash transactions, which can lead to inefficiencies and increased costs, while current POS systems are often outdated and not unified, resulting in cumbersome operations and inflexible retail spaces.
Innovation Solution
A mobile computer device system for processing electronic payments, including a contactless EMV reader, that consolidates inventory management, POS transactions, and electronic payments by using a merchant's mobile device to receive purchase data, read payment credentials, generate and authenticate one-time passwords, and send encrypted payment requests to a third-party authorization server for processing.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If traditional fixed layout and cash transaction systems are used, then cash flow management is maintained, but user experience deteriorates due to procedural constraints and cashier bottlenecks
Solution Approach 1:
The patent replaces the mechanical cash handling system with an electronic payment system using mobile devices, NFC/EMV contactless readers, and digital transaction processing. This substitution eliminates physical cash circulation while maintaining financial transaction reliability, and removes the need for cashiers to handle money directly, thereby improving user experience by eliminating queue bottlenecks.
Solution Approach 2:
The patent enables customers to perform payment transactions themselves using their mobile devices without requiring cashier intervention. The self-service payment kiosk allows customers to initiate payments, select payment methods, and complete transactions independently, eliminating the need for cashiers and improving ease of operation while maintaining secure financial processing.
2Adaptability or versatility
If multiple separate POS systems are implemented, then various payment functions are supported, but device complexity increases and retail space becomes inflexible
Solution Approach 1:
The patent implements a universal mobile payment platform that can handle multiple payment types (contactless NFC, EMV chip cards, mobile wallets, QR codes) through a single device interface. The system provides multi-functional capability across different payment methods without requiring separate specialized equipment for each payment type, thereby reducing device complexity while maintaining versatility.
Solution Approach 2:
The patent consolidates multiple separate POS systems into a unified mobile-based payment platform. By merging inventory management, transaction processing, and multiple payment method support into a single mobile device application, the system reduces the number of separate systems needed and simplifies the overall technical architecture while maintaining all necessary payment functions.
3Productivity
If traditional cashier desks are positioned in designated areas, then transaction processing is centralized, but retail space flexibility is reduced
Solution Approach 1:
The patent transforms the static, fixed-location cashier desk into a dynamic, mobile payment platform. The payment processing capability is embedded in portable mobile devices that can be moved throughout the retail space, allowing transaction processing to occur at any location rather than being confined to designated cashier areas, thereby maintaining productivity while maximizing retail space flexibility.
Solution Approach 2:
The patent divides the centralized cashier function into distributed mobile payment units. Instead of having all transactions processed at fixed cashier desks, the payment processing capability is segmented and distributed across multiple mobile devices that can operate independently throughout the store, enabling flexible spatial arrangement while maintaining efficient transaction processing.
Data Source
AI summary
A device for processing electronic payments for the purchase of goods or services is provided. The device includes one or more computer processors in communication with non-transitory computer readable data storage and a display. The data storage includes instructions stored thereon that, when executed by the one or more processors, cause the device to execute a transaction process including receiving purchase data representing one or more goods or services to be purchased, receiving user input to effect a payment transaction, determining a total transaction amount from the purchase data, reading payment credentials from a purchaser's payment device, sending a payment request, receiving data representing a received one time password (OTP), sending the received OTP to the third party authorization server for authentication against a OTP sent by the third party authorization server to a mobile device, and receiving data representing successful authentication from the third party authorization server.