P2P Financial Transaction System via Card Server
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Solution Overview
Problem
Conventional financial transactions between members involving monetary claims and obligations are cumbersome, requiring frequent payment confirmations and lacking in safety, especially in e-commerce scenarios where direct contact is absent, leading to risks and inconveniences.
Innovation Solution
A P2P financial transaction method and system that allows members to connect via a card company server for transactions, recording and settling monetary claims and obligations through a database system, enabling regular adjustments and settlements without the need for immediate payment confirmations, using a financial transaction card with credit card functionality.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If conventional credit transaction system is used, then transaction between members is enabled, but frequent payment confirmations and lack of safety remain
Solution Approach 1:
The card company server acts as an intermediary that mediates transactions between members. It maintains a database of monetary claims and obligations, automatically matching and settling transactions without requiring direct member confirmation for each payment, thus improving safety while maintaining convenience
Solution Approach 2:
The system implements automated feedback mechanisms where the card company server continuously monitors transaction states, updates member balances, and notifies members of settlements. This automated feedback loop eliminates the need for manual payment confirmations while ensuring transaction reliability
2Ease of operation
If direct member-to-member transaction is implemented, then operation convenience is improved, but transaction safety and reliability deteriorate
Solution Approach 1:
The card company server serves as a trusted intermediary that records and verifies all member-to-member transactions. It maintains authoritative records of monetary claims and obligations, providing safety guarantees while enabling direct member interaction and convenient operation
3Reliability
If frequent payment confirmations are required, then transaction reliability is improved, but productivity and efficiency deteriorate
Solution Approach 1:
The system performs preliminary actions by pre-establishing monetary claims and obligations in the database before actual transactions occur. Members register their claims and obligations once, and the system automatically handles subsequent settlements without requiring repeated confirmations, thus improving efficiency while maintaining reliability
Solution Approach 2:
The card company server continuously monitors and automatically settles transactions based on registered claims and obligations. This continuous automated processing eliminates the need for frequent manual confirmations, maintaining transaction reliability while significantly improving processing efficiency
4Adaptability or versatility
If traditional credit card system is used, then transaction functionality is provided, but adaptability for direct member transactions deteriorates
Solution Approach 1:
The card company server is designed with multi-functionality, serving both traditional credit card transactions and new member-to-member direct transactions. The same infrastructure, database, and settlement mechanisms handle both transaction types, improving adaptability without significantly increasing system complexity
Data Source
AI summary
A method and system for a P2P financial transaction can connect to a card company server via a wired/wireless communication network, and a financial card with credit card functions. The method includes closing a first contract involving monetary claim/obligation between members, reporting a first claim amount or a first obligation amount to the card company server, and recording first incoming or first outgoing amounts. The method further includes establishing a second claim amount and a second obligation amount according to a second contract, reporting the second claim amount or the second obligation amount to the card company server, recording second incoming or second outgoing amounts, adding or subtracting respectively to or from the first incoming or the first outgoing amounts, and settling final incoming or outgoing, added or subtracted amounts at regular intervals.