Payment Applets with Triggerable Logic for Dynamic Account Switching
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Solution Overview
Problem
Existing payment systems lack advanced transaction processing capabilities that can dynamically adjust payment accounts and options based on geographical location, transaction data, and time, leading to inefficiencies and potential transaction failures.
Innovation Solution
The development of interactive payment cards equipped with advanced applets that can communicate with point-of-sale terminals and remote servers to dynamically change payment accounts, options, and features based on pre-stored messages, triggerable logic, and real-time data updates.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Productivity
If payment systems use static payment accounts without dynamic adjustment capabilities, then system simplicity is maintained, but transaction efficiency and economic outcomes deteriorate
Solution Approach 1:
The payment device pre-stores multiple payment account options and triggerable logic rules before transactions occur. During transactions, the device automatically selects and switches between pre-configured accounts based on real-time conditions such as geographical location, transaction amount, and merchant type, eliminating the need for manual account selection and optimizing transaction efficiency without requiring complex real-time decision-making infrastructure
Solution Approach 2:
The payment system transitions from static account selection to dynamic account switching based on real-time transaction data. The device continuously monitors transaction parameters and automatically adjusts payment account selection during the transaction process, enabling adaptive optimization of economic outcomes while maintaining relatively simple system architecture through rule-based automation
2Adaptability or versatility
If payment devices lack pre-stored messages and triggerable logic, then device memory requirements are reduced, but adaptability to different transaction scenarios deteriorates
Solution Approach 1:
The payment device stores information in segmented, modular units consisting of discrete triggerable logic rules and associated payment account options. Each rule is an independent data structure that can be individually stored, retrieved, and executed based on specific transaction conditions. This segmentation allows the device to store only relevant transaction scenarios rather than comprehensive data sets, optimizing memory utilization while maintaining high adaptability to different payment situations
Solution Approach 2:
The device uses compact data structures that store parameter-based transaction rules rather than full transaction profiles. By storing key parameters such as geographical location codes, transaction amount thresholds, and merchant category identifiers, the system achieves high adaptability with minimal memory requirements, as these parameters can trigger pre-configured account selection logic without requiring extensive data storage
3Loss of time
If manual account selection is required for each transaction, then user control is maximized, but transaction processing time increases
Solution Approach 1:
The payment device autonomously performs account selection by automatically monitoring transaction parameters and executing pre-configured logic rules to determine the optimal payment account. The device self-manages the account switching process without requiring user intervention, significantly reducing transaction processing time while maintaining user control through pre-configured preferences and the ability to override automatic selections when needed
Data Source
AI summary
A system may include a payment card that includes one or more chips that are operable to utilize information in a payment transaction to enact different functions. For example, a payment applet in a contact chip transaction (e.g., contact EMV transaction) or contactless chip transaction (e.g., contactless EMV transaction) may utilize information that flows through the chip (e.g., country, time, date, transaction amount, approval status) to trigger pre-stored messages or functions (e.g., switch to a payment option or account). Information may be introduced into the chip during a transaction as a result of manual input from the cardholder on the cardholder's phone or other device. Thus, transaction scripting (e.g., EMV scripting) may be utilized to let a card (e.g., static or powered) know that a function (e.g., change of account) is desired by a cardholder and the chip may, if not in the proper account, reset and restart the chip in a mode associated with the desired function (e.g., in the desired account).