Multi-Part Alias Identifier for Payment Routing

Solution Overview

Problem

Existing payment systems using consumer devices face issues such as reliance on cellular phone numbers, lack of control for financial institutions over alias identifiers, and difficulties in tracking aliases across different financial institutions, leading to potential misuse and inefficiencies in person-to-person and person-to-business transactions.

Innovation Solution

Implementing a system where consumer devices can send payment request messages with multi-part alias identifiers, allowing financial institutions to manage and track their own aliases, and enabling secure, efficient transactions without revealing personal information, using a network interface and computer-readable medium to facilitate transfers between different financial institutions.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Reliability

If a centralized entity controls the database and server computers for alias identifiers, then the system maintains integrity and functionality, but financial institutions have very little control over aliases associated with their accounts

Engineering Contradiction:

Improvesystem integrityVSAvoidfinancial institution control

Core Design Contradiction:

ReliabilityVSEase of operation

Solution Approach 1:

The alias identifier is divided into multiple parts: a first part that is universally resolvable through the centralized payment processing network, and a second part that is controlled by individual financial institutions. This segmentation allows the centralized system to maintain overall integrity while giving financial institutions control over their specific aliases, resolving the contradiction between system-wide reliability and institutional autonomy.

Inventive Principle:

Principle #1Segmentation

2Ease of operation

If financial institutions are given control over their aliases, then they can track and manage their aliases better, but it becomes problematic to maintain system integrity across multiple institutions

Engineering Contradiction:

Improvefinancial institution controlVSAvoidsystem integrity

Core Design Contradiction:

Ease of operationVSReliability

Solution Approach 1:

The alias identifier is divided into multiple parts: a first part that is universally resolvable through the centralized payment processing network, and a second part that is controlled by individual financial institutions. This segmentation allows the centralized system to maintain overall integrity while giving financial institutions control over their specific aliases, resolving the contradiction between system-wide reliability and institutional autonomy.

Inventive Principle:

Principle #1Segmentation

Solution Approach 2:

The payment processing network acts as an intermediary that resolves the first part of the alias identifier and routes transactions to the appropriate financial institution, which then resolves the second part. This intermediary mechanism maintains system integrity while enabling institutional control.

Inventive Principle:

Principle #24Intermediary (Mediator)

3Adaptability or versatility

If a first consumer creates an alias for their identity, then they can use it for transactions, but a second consumer cannot create the same alias even if they have no accounts with the first consumer's financial institutions

Engineering Contradiction:

Improvealias creation flexibilityVSAvoidalias availability

Core Design Contradiction:

Adaptability or versatilityVSEase of operation

Solution Approach 1:

The alias identifier is divided into a first part (consumer-identifying) and a second part (financial institution-identifying). This allows the same first part to be used by different consumers at different financial institutions, as the full alias is made unique by the combination of both parts. This resolves the contradiction by making aliases available across institutions while maintaining uniqueness within each institution.

Inventive Principle:

Principle #1Segmentation

Data Source

PatentUS10304127B2Communication device including multi-part alias identifier

Publication Date: 2019.05.28 VISA INTERNATIONAL SERVICE ASSOCIATION

AI summary

Methods and systems are disclosed for allowing financial transactions to be conducted using consumer devices. In some embodiments, the consumer device is a mobile communication device, such as a mobile phone. A payer initiates a transaction by sending a payment request message from a mobile phone which specifies the payee and amount to be paid. Payees are identified by unique aliases, which are maintained in a database. The aliases, in turn, are comprised of multiple parts. Each part of the alias may identify a relevant aspect of the transaction. For example, one part of the alias may identify the payee and another part of the alias may identify the financial institution of the account of the payee. Methods for assembling the enrollment and alias database are included.