Multi-Account Transaction Device with Segmented Card Structure
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Solution Overview
Problem
Current financial transaction systems do not allow cardholders to selectively allocate transactions to multiple accounts on a transaction-by-transaction basis, limiting flexibility in managing payments and expenses across different accounts.
Innovation Solution
A multi-account transactions system that enables cardholders to select which account a transaction is posted to at the point of sale, with the option to reallocate transaction amounts between accounts based on predetermined rules or user choice, using a device with multiple account identifiers that can be selectively exposed for different transactions.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If a single account is used for all transactions, then the system is simple to operate, but the flexibility in managing payments and expenses is limited
Solution Approach 1:
The patent divides a single card into multiple functional segments, each representing a different account (e.g., personal account, business account, savings account). Each segment contains its own account number and can be independently selected for transactions, allowing users to manage different expenses through separate account segments while using one physical card.
Solution Approach 2:
The card is designed to perform multiple functions by incorporating several account types within a single device. The card can function as a personal checking account card, a business account card, a savings account card, or any combination thereof, depending on which segment is activated for the transaction.
2Adaptability or versatility
If multiple accounts are accessible on a single card, then account selection flexibility is improved, but the card structure becomes more complex
Solution Approach 1:
The card structure employs a nested design where multiple account segments are embedded within layers of the card. The segments can be sequentially exposed or revealed through a mechanical structure similar to nested dolls, allowing the user to access different account segments by opening or flipping through layers of the card.
Solution Approach 2:
The card incorporates dynamic elements that allow the account segments to be moved or repositioned. The segments can be physically shifted, flipped, or rotated to bring the desired account segment into the active reading position, providing dynamic account selection capability.
3Ease of operation
If account selection is made at the point of sale, then transaction control is improved, but the processing time increases
Solution Approach 1:
The user pre-organizes and pre-selects account segments within the card structure before making a purchase. The desired account segment is positioned in the active reading position in advance, so that at the point of sale, the merchant's card reader can immediately read the correct account number without requiring additional selection steps during the transaction.
Data Source
AI summary
A system and method for processing transactions using a multi-account transaction device. The method comprises the steps of: receiving at least one transaction particular relating to a transaction conducted with a multi-account transaction device; determining at least one first desired account associated with the multi-account transaction device to which the transaction will be posted; posting the transaction to the at least one first desired account; receiving at least one second desired account to which at least a portion of the transaction should be posted; posting the at least a portion of the transaction to the at least one second desired account; and reconciling the at least one first desired account.