Mobile Wallet Split Payment Processing at Point of Sale
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Solution Overview
Problem
Existing point of sale devices often cannot process split payments efficiently, requiring manual division of bills and limiting the acceptance of multiple payment types, especially when invoices exceed individual payment account limits.
Innovation Solution
A mobile wallet system that facilitates split payments by selecting multiple payment accounts to pay portions of an invoice, transmitting payment information to a point of sale device for processing, either sequentially or in parallel, and enabling partial payments from other mobile wallets to be collected and sent together.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If manual division of bills is used to process split payments, then payment flexibility is improved, but transaction efficiency deteriorates
Solution Approach 1:
The patent segments the payment process by separating the manual bill division task from the payment processing system. The mobile device automatically divides the total invoice amount into multiple payment portions based on selected payment accounts, eliminating manual intervention while maintaining payment flexibility through multiple account options.
Solution Approach 2:
The mobile wallet application serves as an intermediary between the point of sale device and multiple payment accounts. It automatically manages the split payment logic, selecting appropriate payment accounts and allocating amounts without requiring manual merchant intervention, thus improving transaction efficiency while preserving payment flexibility.
2Device complexity
If point of sale devices accept only single payment accounts, then device complexity is reduced, but payment versatility deteriorates
Solution Approach 1:
The mobile device acts as an intermediary that consolidates multiple payment accounts and presents them as a single payment interface to the point of sale device. The POS device maintains its simplicity by interacting with one mobile device, while the mobile device handles the complexity of managing multiple payment accounts and split payment logic.
Solution Approach 2:
The mobile wallet application provides multi-functionality by enabling the point of sale device to accept payments from multiple different payment accounts through a single interface. The mobile device can select from various payment accounts (credit cards, debit cards, digital wallets) and automatically process split payments, making the simple POS device universally compatible with diverse payment methods.
3Measurement precision
If multiple payment accounts are processed sequentially, then processing accuracy is improved, but transaction time increases
Solution Approach 1:
The mobile wallet application performs preliminary actions by pre-selecting multiple payment accounts and pre-calculating payment portions before presenting them to the point of sale device. This preparation allows the POS device to process payments more efficiently without sacrificing accuracy, as the payment breakdown is already determined and validated before transmission.
Data Source
AI summary
Systems and methods that facilitate a mobile wallet splitting payments to an invoice between multiple payment accounts are disclosed herein. The mobile wallet can receive an invoice, and then select a set of payment accounts to each pay a portion of the invoice. The mobile wallet can send the payment information to a point of sale device, indicating that the payment include multiple payments from different payment accounts. The point of sale device can then process the multiple payments, either sequentially, or in parallel. In an embodiment, the mobile wallet can receive partial payments from other mobile wallets for the invoice, collect the payments together, and send the payment information at once to the point of sale device for the set of mobile wallets.