Mobile Wallet Payment Binding via Transaction History
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Solution Overview
Problem
Users of mobile wallets face a time-consuming and error-prone process when choosing payment elements for transactions, as they need to select from multiple options each time, which can be cumbersome and prone to mistakes.
Innovation Solution
The mobile wallet system allows users to bind payment elements with payees, enabling automatic or quick payment options based on previous transaction history, using a database to track and count payments, and presenting a user interface for binding payment elements with payees, thereby streamlining the payment process.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If users manually select payment elements from multiple options for each transaction, then payment flexibility is maintained, but the process becomes time-consuming and error-prone
Solution Approach 1:
The system performs preliminary actions by automatically binding payment elements to payees based on transaction history before the user needs to make a selection. The mobile wallet analyzes past transactions and pre-establishes payment element associations, so that during actual transactions, the system can quickly present or automatically select the appropriate payment element without requiring manual review of multiple options each time.
2Reliability
If the mobile wallet tracks and analyzes transaction history to suggest payment elements, then payment accuracy and user convenience improve, but system complexity increases
Solution Approach 1:
The mobile wallet system performs self-service by automatically analyzing its own transaction history and making intelligent decisions about payment element binding. The system monitors its usage patterns, identifies frequent payees, and autonomously establishes payment element associations without requiring external intervention or complex user configuration. This self-service capability improves reliability while keeping the user interface simple.
3Productivity
If automatic payment binding is implemented based on transaction history, then user convenience and speed improve, but control and adaptability may be reduced
Solution Approach 1:
The payment element binding system is designed to be dynamic rather than static. Users can modify or remove automatic bindings at any time based on changing needs. The system continuously monitors transaction patterns and allows users to adjust bindings as their payment behaviors evolve. This dynamic approach maintains high processing speed through automatic bindings while preserving user adaptability when circumstances change.
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 solution reduces the complexity of selecting payment elements by automatically suggesting preferred payment methods for frequent transactions, enhancing user convenience and reducing errors by leveraging transaction history and location-based dependencies.
Implementation Method 1
Using an antenna in the mobile device, mobile wallets can communicate with contactless readers using radio frequency identification (RFID) such as near field communication (NFC)
Implementation Method 2
Using an antenna in the mobile device, mobile wallets can communicate with contactless readers using radio frequency identification (RFID) such as near field communication (NFC)
Data Source
AI summary
Methods and systems are disclosed for binding a payment element in a mobile wallet operating on a mobile device with a payee. The mobile wallet, can for example, receive an indication from a point of sale (POS) device that a transaction has been completed with a payee associated with the POS device, using a payment element of the mobile wallet. The mobile wallet can query a payment database table with an identifier for the payee and an identifier for the payment element to determine if the payment element has previously been used to complete transactions with the payee. The mobile wallet can bind the payment element to the payee if the payment element has previously been used to complete transactions with the payee and if the payment element is to be bound to the payee. Other systems, methods and apparatuses are also described.