Parent-Child Token Notification Engine for Group Payment Monitoring
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Solution Overview
Problem
Existing payment systems lack efficient mechanisms for parents or administrators to monitor and receive notifications about transactions initiated by child tokens associated with group payment accounts, limiting their ability to audit and manage group financial activities effectively.
Innovation Solution
A system and method that enables members associated with parent tokens to enroll for notifications regarding transactions made by child tokens, using a notification engine to provide transaction and report notifications, including transaction data, which can be customized and delivered via various channels.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If group payment accounts are used to enable multiple consumers to initiate transactions, then payment flexibility and group collaboration are improved, but the ability of administrators to monitor and audit transactions is worsened
Solution Approach 1:
The system segments payment accounts into parent accounts and child accounts, where parent accounts maintain administrative control and child accounts enable independent transactions. This segmentation allows multiple consumers to transact independently while the parent administrator retains monitoring capabilities through enrollment in notification services.
Solution Approach 2:
The notification service provides real-time feedback to administrators about transactions initiated by child accounts. Through enrollment in notification services, administrators receive alerts and reports about group payment account usage, maintaining oversight while allowing flexible group payments.
2Ease of operation
If child tokens are issued to multiple members for independent transactions, then ease of operation is improved, but the complexity of tracking and managing individual transaction data is worsened
Solution Approach 1:
The system merges individual child account transactions with the parent account framework. Multiple child tokens can transact independently, but all transactions are consolidated under the parent account structure, allowing centralized reporting and simplified data management through the notification service.
Solution Approach 2:
The notification service acts as an intermediary between child account transactions and parent account administrators. It receives transaction data from child tokens and delivers consolidated information to parents, reducing the complexity of directly managing multiple individual transaction streams.
3Reliability
If real-time notifications are provided for all child token transactions, then financial oversight is improved, but the quantity of notification data and processing load is worsened
Solution Approach 1:
The notification service provides differentiated notification quality based on local needs. Parents can enroll to receive notifications tailored to their specific monitoring requirements, allowing them to focus on relevant transactions rather than processing all possible data, thus reducing overall notification volume while maintaining necessary oversight.
Data Source
AI summary
Systems and methods are provided for use in distributing payment transaction notifications. One example computer-implemented method includes identifying, by a computing device, transaction data for a transaction associated with a child token and identifying, in a token data structure, a parent token, which is different than the child token and which is associated with the child token. The computer-implemented method also includes determining that the parent token is enrolled for notifications and then, based on determining that the parent token is enrolled for notifications, transmitting, by the computing device, a notification to a communication device associated with the parent token, the notification indicative of the transaction and including at least a portion of the transaction data.