Mobile Wallet Payment Account Ranking by Location
Find Innovative SolutionsGenerate Solutions
Solution Overview
Problem
Existing location-dependent services for mobile devices lack efficiency in optimizing communication and payment processes, as users often need to manually select payment accounts and navigate through multiple options, leading to increased transaction time and user effort.
Innovation Solution
A system that utilizes geolocation to dynamically rank and prioritize payment accounts in a mobile wallet based on merchant categories, reward benefits, and user preferences, automatically selecting the best payment account for transactions and optimizing the order of data items for communication with transaction terminals.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If users manually select payment accounts from multiple options, then payment account selection flexibility is improved, but transaction time and user effort increase
Solution Approach 1:
The system enables self-service by automatically selecting payment accounts based on location and merchant category without requiring manual user intervention. The mobile device determines its location, identifies the merchant category, and automatically ranks and selects the appropriate payment account, eliminating the need for users to manually navigate through multiple account options while maintaining selection flexibility through location-dependent optimization.
Solution Approach 2:
The system performs preliminary action by pre-ranking payment accounts based on location and merchant category before the actual transaction occurs. The mobile device determines the optimal payment account in advance by analyzing location data and merchant category information, so that when a transaction is needed, the correct account is already selected and ready for immediate use, significantly reducing transaction time.
2Productivity
If payment accounts are dynamically ranked based on location and merchant category, then payment optimization is improved, but system complexity increases
Solution Approach 1:
The system applies parameter changes by dynamically adjusting the ranking of payment accounts based on location parameters and merchant category parameters. The mobile device changes the order in which payment accounts are presented or selected according to the determined location and identified merchant category, optimizing payment selection without requiring complex system architecture beyond standard mobile device capabilities.
3Productivity
If data items are optimized in order based on location, then communication efficiency is improved, but processing complexity increases
Solution Approach 1:
The system performs preliminary action by pre-optimizing the order of data items based on location information before communication occurs. The mobile device determines its location and uses this information to arrange data items in an optimal sequence for transmission to the transaction terminal, so that the most relevant data is communicated first, improving communication efficiency without requiring complex real-time processing during the actual transaction.
Data Source
AI summary
A mobile device having: a position determination device configured to determine a location of the mobile device; a transceiver configured to communicate with a transaction terminal via near field communication; a communication device configured to communicate with at least one server over internet; a memory storing a plurality of data items and a set of instructions of a mobile application; and at least one microprocessor coupled with the memory to execution the instructions of the mobile application. The mobile application is configured to: communicate the location of the mobile device, using the communication device, to the at least one server over internet; determine, via communications with the at least one server based on the location of the mobile device, an order of data items; and communicate, using the transceiver via near field communication, with the transaction terminal in accordance with the order of the data items.