Smart Mobile Wallet Tracking for Real-Time Expense Compliance

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Solution Overview

Problem

Users face challenges in tracking and categorizing transactions for reimbursement purposes, such as medical expenses or VAT refunds, as they often require manual submission of physical receipts and adherence to specific formats, which is cumbersome and inefficient.

Innovation Solution

A smart mobile wallet system that automatically tracks and categorizes transactions using machine learning, associates mobile identifiers with transactions, and generates records for submission to third-party systems, allowing for real-time categorization and reimbursement without user intervention.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Ease of operation

If manual tracking and categorization of transactions is performed, then users can maintain control over their expense data, but the process becomes cumbersome and time-consuming

Engineering Contradiction:

Improveease of transaction trackingVSAvoidtime for receipt tracking and submission

Core Design Contradiction:

Ease of operationVSLoss of time

Solution Approach 1:

The system performs automatic transaction tracking, categorization, and receipt management without requiring user intervention. The mobile wallet system autonomously captures transaction data, categorizes expenses according to predefined criteria, stores digital receipts, and prepares reimbursement submissions, allowing the system to serve itself rather than requiring manual user operation.

Inventive Principle:

Principle #25Self-service

Solution Approach 2:

The system pre-configures categorization rules, expense thresholds, and reimbursement parameters before transactions occur. By establishing these parameters in advance, the system can automatically process transactions as they happen without requiring users to manually configure settings or perform post-transaction data entry, thereby saving time and improving ease of operation.

Inventive Principle:

Principle #10Preliminary action

2Reliability

If physical receipts are tracked and submitted manually, then users can provide verification for reimbursements, but the process lacks efficiency and automation

Engineering Contradiction:

Improveverification of expense dataVSAvoidefficiency of reimbursement process

Core Design Contradiction:

ReliabilityVSProductivity

Solution Approach 1:

The system replaces the mechanical process of physical receipt handling with automated electronic data capture and processing. Instead of manually collecting, organizing, and submitting physical receipts, the mobile wallet system electronically captures transaction data, automatically categorizes it, stores digital copies of receipts, and transmits reimbursement requests to third-party systems, thereby maintaining verification reliability while dramatically improving productivity.

Inventive Principle:

Principle #28Mechanics substitution (Replace mechanical system)

Solution Approach 2:

The system creates and stores digital copies of transaction receipts and expense data in the mobile wallet system. These electronic copies serve as verification documents for reimbursement purposes, replacing the need for physical receipt handling while maintaining the integrity and reliability of expense verification through automated data capture and storage.

Inventive Principle:

Principle #26Copying

3Productivity

If automated transaction tracking is implemented, then efficiency and accuracy are improved, but system complexity increases

Engineering Contradiction:

Improveautomation of transaction trackingVSAvoidcomplexity of wallet system

Core Design Contradiction:

ProductivityVSDevice complexity

Solution Approach 1:

The mobile wallet system performs multiple functions including payment processing, transaction tracking, expense categorization, receipt storage, and reimbursement submission within a single integrated platform. By consolidating these diverse functions into one universal system, the patent achieves high automation and productivity without proportionally increasing complexity, as the same infrastructure supports multiple capabilities.

Inventive Principle:

Principle #6Universality (Multi-functionality)

Solution Approach 2:

The system merges transaction data capture, categorization logic, receipt storage, and reimbursement processing into an integrated automated workflow. By combining these previously separate functions into a unified system, the patent reduces overall complexity compared to having separate systems for each function, while maintaining high levels of automation and productivity through coordinated operation of integrated components.

Inventive Principle:

Principle #5Merging (Combining)

Data Source

PatentUS20250371532A1Smart mobile wallet tracker for monitoring and compliance

Publication Date: 2025.12.04 WELLS FARGO BANK NA

AI summary

Systems and methods are directed to automatic tracking and categorization of transactions in real-time for transaction record regeneration. A smart wallet system receives, via a smart wallet mobile system activated on a mobile device, transaction data for a transaction. Responsive to receiving the transaction data, a tracker component performs, in real-time as the transaction is completed, operations comprising determining whether an item of the transaction is to be categorized into a tracker category and categorizing the item of the transaction into the tracker category in response to determining that the item of the transaction is to be categorized into the tracker category. Responsive to a record trigger event, a record component of the smart wallet system generates or updates a transaction record for the tracker category. A submission component submits the transaction record to a third-party system, which triggers the third-party system to process the transaction record.