Multi-Merchant Payment Authorization System
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Solution Overview
Problem
Current credit card transaction systems require multiple entries of credit card information for each merchant account, leading to inconvenience and potential errors, especially when multiple payments including convenience fees need to be processed.
Innovation Solution
A system that processes multiple credit card authorizations for multiple merchant accounts with a single entry of credit card information, calculates convenience fees, and submits transactions to a credit card authorization network, generating receipts upon approval.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If multiple credit card entries are required for each merchant account, then each transaction can be processed individually, but user convenience deteriorates and errors increase
Solution Approach 1:
The patent combines multiple transaction processing operations into a single integrated system. Multiple merchant account funding requests and convenience fee calculations are merged into one unified transaction processing flow, allowing a single credit card entry to initiate funding for multiple accounts simultaneously, thereby improving user convenience without sacrificing processing accuracy
2Productivity
If multiple separate transactions are submitted for each merchant account, then each account can be funded independently, but processing time increases
Solution Approach 1:
The system performs preliminary calculations of convenience fees and determines funding amounts for multiple merchant accounts before submitting the consolidated transaction to the authorization network. This preliminary processing enables batched transaction submission, significantly reducing total processing time while maintaining independent account funding capabilities
Solution Approach 2:
The patent implements continuous processing where multiple transaction components (merchant account funding, convenience fee calculation, authorization requests) are handled in an uninterrupted sequential manner within a single processing cycle, eliminating idle time between operations and maximizing processing efficiency
Data Source
AI summary
A system to initiate funding of a plurality of merchant accounts may include one or more computers configured to receive input specifying at least one payment item having a payment amount, determine a convenience fee based on the at least one payment amount, select a first merchant account based on the at least one specified payment item, and select a second merchant account associated with the convenience fee. The one or more computers may also be configured to receive a single input specifying credit card information, link the payment amount, received credit card information and the first merchant account to form a first transaction, and link the convenience fee, received credit card information and second merchant account to form a second transaction. The one or more computers may further be configured to submit the first and second transactions to a credit card authorization network, receive response data from the credit card authorization network for the first and second transactions indicating whether the first and second transactions are authorized, and generate output representing a receipt for the first and second transactions if the first and second transactions are authorized.