Mobile Transaction Processor Using Optical Data Capture

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Solution Overview

Problem

Modern electronic transaction methods are limited by legacy payment systems and lack efficient utilization of modern mobile communications devices' data capturing capabilities, which hinder secure and streamlined transaction processes between merchants and customers.

Innovation Solution

The system employs a transaction processor to generate transaction events, captures transaction details and unique merchant identifiers using data capturing devices on mobile devices, and provides payment authorization through a transaction authorization module, ensuring secure and efficient electronic transactions.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Adaptability or versatility

If legacy payment systems are used, then transaction processing is established, but the systems are limited and do not efficiently utilize mobile device data capturing capabilities

Engineering Contradiction:

Improveutilization of mobile device capabilitiesVSAvoidtransaction system complexity

Core Design Contradiction:

Adaptability or versatilityVSDevice complexity

Solution Approach 1:

The transaction processor is designed to handle multiple types of data capture devices (cameras, barcode scanners, QR code readers) and multiple data formats, allowing a single system to perform various transaction facilitation functions across different mobile devices and transaction types

Inventive Principle:

Principle #6Universality (Multi-functionality)

2Reliability

If merchants handle sensitive customer information directly, then transaction processing is completed, but security risks and compliance burdens increase

Engineering Contradiction:

Improvetransaction securityVSAvoidinformation handling complexity

Core Design Contradiction:

ReliabilityVSDevice complexity

Solution Approach 1:

The patent extracts sensitive customer information handling from the merchant's responsibility by introducing a transaction processor that directly receives and processes data from mobile devices, eliminating the need for merchants to handle or store sensitive customer payment information

Inventive Principle:

Principle #2Taking out (Extraction)

Solution Approach 2:

The transaction processor acts as an intermediary between the mobile device and the merchant, receiving transaction data directly from the mobile device and relaying only necessary transaction details to the merchant without exposing sensitive customer information

Inventive Principle:

Principle #24Intermediary (Mediator)

3Productivity

If traditional transaction methods are used, then transactions are processed, but the process is not streamlined and requires more steps

Engineering Contradiction:

Improvetransaction processing efficiencyVSAvoidtransaction completion time

Core Design Contradiction:

ProductivityVSLoss of time

Solution Approach 1:

The system performs preliminary actions by having the mobile device capture transaction data and the transaction processor validate and process payment information before the customer even interacts with the merchant, streamlining the transaction flow and reducing on-site processing time

Inventive Principle:

Principle #10Preliminary action

Solution Approach 2:

The patent replaces traditional mechanical payment processing (physical card swiping, manual data entry) with electronic data capture through mobile device cameras and optical scanners, enabling faster and more automated transaction processing

Inventive Principle:

Principle #28Mechanics substitution (Replace mechanical system)

Data Source

PatentUS9965760B2Systems and methods for facilitating electronic transactions utilizing a mobile computing device

Publication Date: 2018.05.08 HURRICANE ELECTRIC

AI summary

Systems and methods for facilitating electronic transactions utilizing data capturing devices are provided herein. Methods may include generating a transaction event which comprises transaction details and receiving a transaction acceptance from a first client device. The transaction acceptance may include a capture of at least a portion of the transaction details and a unique merchant identifier by a first data capturing device of the first client device and a confirmation. The method further includes providing indication of a payment authorization to the merchant.