Passive Electronic Chip Carrier for Multi-Account Management

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Solution Overview

Problem

Conventional smart cards requiring a power source to function are inconvenient for users who need to manage multiple payment cards, as they need to carry multiple cards and face limitations in security, storage, and flexibility.

Innovation Solution

A passive electronic chip carrier that stores data for multiple linked accounts, allowing a terminal to prompt for account selection before initiating a financial transaction, eliminating the need for an embedded power source and enhancing security and data management.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Adaptability or versatility

If multiple payment cards are carried to manage multiple accounts, then account management flexibility is improved, but device complexity and inconvenience increase

Engineering Contradiction:

Improveaccount management flexibilityVSAvoidnumber of cards to carry

Core Design Contradiction:

Adaptability or versatilityVSDevice complexity

Solution Approach 1:

The patent merges multiple payment card functions into a single card by embedding multiple electronic chips, each storing account data from different issuers. This allows a user to carry one card instead of multiple cards while maintaining the ability to access and transact with multiple accounts, directly resolving the contradiction between account management flexibility and device complexity.

Inventive Principle:

Principle #5Merging (Combining)

Solution Approach 2:

The single payment card is designed with multi-functionality by incorporating multiple electronic chips that can interface with different payment networks and issuers. Each chip can be activated independently to access different accounts, making the single card universally applicable for various payment scenarios without requiring multiple specialized cards.

Inventive Principle:

Principle #6Universality (Multi-functionality)

2Adaptability or versatility

If conventional smart cards with embedded power sources are used, then device functionality is improved, but ease of operation and convenience deteriorate

Engineering Contradiction:

Improvedevice functionalityVSAvoidconvenience of carrying and using

Core Design Contradiction:

Adaptability or versatilityVSEase of operation

Solution Approach 1:

The patent extracts the power source requirement from the card itself by using passive electronic chips that draw power externally during transactions. This eliminates the need for embedded batteries or power sources in the card, reducing its complexity and improving ease of operation while maintaining full electronic card functionality for account management and transactions.

Inventive Principle:

Principle #2Taking out (Extraction)

Solution Approach 2:

The patent introduces an intermediary power supply mechanism where the electronic chips draw power from external sources such as the POS terminal or mobile device during transactions. This intermediary power delivery system enables the passive chips to function without requiring embedded power sources in the card, resolving the contradiction between device functionality and ease of operation.

Inventive Principle:

Principle #24Intermediary (Mediator)

Applied Scientific Principles

This section explains which scientific principles are used to turn an abstract innovation direction into a practical engineering solution.

Function Achieved in This Case

Enables convenient, secure, and flexible management of multiple accounts on a single card, reducing the need for multiple cards and improving transaction efficiency by using a passive device that draws power from an external source.

Implementation Method 1

an electronic chip having stored thereon data identifying a plurality of accounts each linked to a respective issuer

Methodology Applied

Scientific EffectNon-volatile memory storage:

Implementation Method 2

a passive device that draws power from an external source

Methodology Applied

Scientific EffectElectromagnetic induction: Electromagnetic Induction

Data Source

PatentUS11055697B2Electronic chip for storing plurality of linked accounts

Publication Date: 2021.07.06 MASTERCARD INT INC

AI summary

According to a first aspect of the invention, there is provided a carrier comprising an electronic chip having stored thereon data identifying a plurality of accounts each linked to a respective issuer, wherein the electronic chip is configured to instruct a terminal reading the electronic chip to prompt for selection of one of the plurality of linked accounts before initiating a financial transaction.