Multi-Party Transaction Routing System
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Solution Overview
Problem
Existing online payment systems lack efficient mechanisms for handling transactions involving multiple parties, where roles and responsibilities are not clearly defined, leading to complexities in routing and processing purchases.
Innovation Solution
A transaction processing system that receives and processes roles associated with parties involved in a purchase transaction, using routing rules to determine how the transaction is routed among parties based on their roles, allowing for approval, payment, and other responsibilities to be managed effectively.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If traditional payment systems are used for online transactions, then simplicity of payment process is maintained, but inability to handle multiple parties and their roles effectively arises
Solution Approach 1:
The transaction processing system segments the transaction into distinct role-based components, where each party (buyer, seller, approver, payer) is assigned specific roles and responsibilities. This segmentation allows the system to handle complex multi-party transactions by breaking them down into manageable role-specific tasks rather than treating them as a single undifferentiated process.
Solution Approach 2:
The patent introduces an intermediary transaction processing system that mediates between multiple parties. This intermediary system receives transaction requests, determines the roles of involved parties, applies routing rules, and coordinates the transaction flow among buyers, sellers, approvers, and payers. The intermediary resolves the complexity by centralizing the coordination logic rather than requiring direct peer-to-peer interactions among all parties.
2Measurement precision
If roles and routing rules are implemented to manage multiple parties, then transaction routing precision is improved, but system complexity increases
Solution Approach 1:
The system performs preliminary actions by pre-defining roles and routing rules before transactions occur. Parties are assigned roles in advance, and routing rules are established beforehand to determine how transactions should be routed based on party roles. This preliminary configuration enables accurate routing without requiring complex real-time decision-making logic during transaction processing.
Solution Approach 2:
The patent utilizes parameter changes by dynamically adjusting transaction routing based on role parameters. The system changes the routing parameters according to the specific roles assigned to parties involved in each transaction. This allows the same system structure to handle different routing scenarios by simply changing the role assignments and routing rule parameters rather than requiring different system architectures.
3Reliability
If manual approval processes are used for multi-party transactions, then control over purchases is improved, but processing time increases
Solution Approach 1:
The system implements automated feedback loops where the transaction processing system continuously monitors transaction status, party roles, and routing rule conditions. Based on this feedback, the system automatically routes transactions to appropriate parties, tracks approval progress, and notifies relevant stakeholders. This automated feedback mechanism maintains reliable control over purchase approvals while eliminating manual intervention delays.
Data Source
AI summary
A role associated with one or more parties involved with a purchase transaction is received. A routing rule associated with the purchase transaction is also received, the routing rule defining how the purchase transaction is routed among the one or more parties. The purchase transaction is processed based on the role of each party and the routing rule.