Multi-Account Payment Card Routing via Segmented Encoding
Find Innovative SolutionsGenerate Solutions
Solution Overview
Problem
Conventional financial account cards can only access a single account type, limiting their versatility in transactions and requiring multiple cards for different financial functions.
Innovation Solution
A multiple account advanced payment card that encodes credit, bank, and stored value account information on a single card, allowing users to select which account to access during transactions through additional data input or pre-defined routing rules, enabling the card to function as multiple types of cards.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If a single account number is encoded on the card, then the card can be processed through existing single-account processing systems, but the card can only access one account type limiting versatility
Solution Approach 1:
The card encodes multiple account numbers in segmented portions, where each portion corresponds to a different account type (credit, debit, stored value). The system reads the appropriate portion based on transaction routing information, allowing the single card to access multiple account types without overwhelming the processing system with all accounts simultaneously.
Solution Approach 2:
The patent adds a temporal dimension to the account encoding by providing account numbers at different times during the transaction process. The initial read provides routing information, and a subsequent read provides the actual account number for processing, effectively using time as an additional dimension to encode multiple accounts.
2Adaptability or versatility
If multiple account numbers are encoded on the card, then the card can access multiple account types, but the card processing system becomes more complex
Solution Approach 1:
The patent introduces an intermediary routing step where the card reader first reads a portion of the account number that identifies the account type, then uses this routing information to determine which full account number to read next. This intermediary routing mechanism allows the processing system to handle multiple account types without requiring complex simultaneous processing of all accounts.
Solution Approach 2:
The system performs preliminary routing determination by reading the first portion of the account number before reading the complete account number. This preliminary action allows the system to prepare the appropriate processing path in advance, reducing the complexity of handling multiple account types during the main transaction processing.
3Adaptability or versatility
If additional information is read from the card to route transactions, then transactions can be routed to appropriate accounts, but the transaction processing time increases
Solution Approach 1:
The card encoding structure is designed so that the routing information (first portion of account number) is available immediately upon initial card insertion, allowing the system to prepare the routing decision before the complete account number is needed. This preliminary availability of routing data minimizes the time penalty for multi-account capability.
Solution Approach 2:
The system skips unnecessary processing steps by using the routing information to directly jump to reading only the relevant account number portion, rather than reading and processing all possible account numbers. This selective approach rushes through the essential routing decision without wasting time on irrelevant accounts.
Data Source
AI summary
A system of accessing through a financial processing network multiple accounts associated with a single financial card. Data is input to the financial network in addition to the transaction data and the account identification data that is read from the card. This additional data permits the proper account to be accessed. The data may be input at the point of sale as an account selection. In this instance, the selection may be used to route the transaction data through the financial processing network or may be used to read data regarding one of multiple accounts encoded on the card. The data may also be stored as conditional routing rules at transfer points in the financial processing network. In this instance, the transaction is routed to the proper account based on the stored rules.