Mobile Wallet Tokenized Card Number Rewards Integration
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Solution Overview
Problem
Existing systems for mobile wallet transactions lack efficient methods for integrating merchant rewards and ensuring secure, authenticated transactions.
Innovation Solution
A mobile wallet computer system that allows users to perform transactions by generating a tokenized credit card number, which includes a trace ID, and applying merchant rewards prior to submitting the transaction to a card network computer system.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Productivity
If merchant rewards are integrated into mobile wallet transactions, then user experience and transaction efficiency are improved, but system complexity increases
Solution Approach 1:
The patent embeds multiple layers of information within the tokenized card number structure. The trace ID is nested within the tokenized card number, which itself is nested within the mobile wallet transaction system. This nesting allows the system to carry multiple functions (authentication, rewards tracking, transaction identification) within a single data structure, improving efficiency without proportionally increasing system complexity
Solution Approach 2:
The tokenized card number serves multiple functions simultaneously: it acts as an authentication credential, a transaction identifier, a rewards account reference, and a security token. This multi-functionality eliminates the need for separate systems for each function, thereby improving transaction efficiency while managing system complexity through consolidation
2Reliability
If tokenized card numbers with trace ID are used for authentication, then transaction security is improved, but information processing complexity increases
Solution Approach 1:
The system performs tokenization and embeds the trace ID in advance, before the actual transaction occurs. This preliminary action converts the original card information into a secure tokenized form that includes authentication credentials and tracking information. By preparing these security elements beforehand, the system reduces real-time processing complexity while maintaining high security standards
Solution Approach 2:
The tokenized card number acts as an intermediary between the user's card information and the transaction processing system. It mediates authentication and tracking functions without exposing sensitive card data, thereby improving security while managing information processing complexity through abstraction
3Ease of operation
If merchant rewards are applied at point of sale, then ease of operation is improved, but processing time increases
Solution Approach 1:
The system determines and prepares the reward amount in advance by querying the mobile wallet computer system before the transaction is finalized. This preliminary determination of rewards allows the point-of-sale system to apply pre-calculated reward values, making the rewards redemption process seamless and fast, thereby improving ease of operation without significantly increasing processing time
Data Source
AI summary
A computer-implemented method includes: transmitting, by a mobile device, to a mobile wallet computer system, an indication that a user of the mobile device wishes to perform a mobile wallet transaction to transfer funds to a merchant; receiving, by the mobile device, an amount of merchant rewards that are available for the user to use at the merchant; displaying, by the mobile device, the amount of merchant rewards; receiving, by the mobile device, an indication that the user wishes to apply at least a portion of the available rewards to the transaction; and, transmitting, to a merchant computer system, the indication that the user wishes to apply at least a portion of the available rewards to the transaction. The merchant rewards are applied to the transaction prior to submitting the transaction to a card network computer system, and no physical rewards card is used to complete the transaction.