Payment Application Framework Standardization
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Solution Overview
Problem
Existing electronic payment systems face challenges due to proprietary programming interfaces used by different payment providers, leading to duplicate efforts and delayed development of new payment applications and services.
Innovation Solution
A payment application framework is introduced, utilizing metaphors and constraints to standardize the development of payment applications across various scenarios, including checkout, send money, and recurring payments, with actors, objects, and phases interacting consistently across different types of transactions.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If proprietary programming interfaces are used by different payment providers, then each provider can implement its own specific features, but duplicate efforts increase and development time delays
Solution Approach 1:
The payment system is segmented into distinct layers: a standardized framework layer providing common functionality and a provider-specific layer for customized features. This segmentation allows each payment provider to implement only the unique portions of their service while sharing the common infrastructure, thereby reducing duplicate efforts and improving development efficiency.
Solution Approach 2:
A universal payment application framework is created that can serve multiple payment providers and support various payment scenarios (checkout, send money, recurring payments, etc.). The framework provides multi-functional capabilities that can be adapted to different providers' needs through configuration and extension points, eliminating the need for each provider to build everything from scratch.
2Adaptability or versatility
If each payment application is developed independently, then service-specific requirements can be met, but time to market for new applications increases
Solution Approach 1:
The framework performs preliminary action by pre-implementing common payment processing logic, infrastructure, and standardized interfaces. This advance preparation allows new payment applications to be deployed quickly by simply configuring and extending the pre-built framework rather than developing everything anew, significantly reducing time to market.
Solution Approach 2:
The payment application framework acts as an intermediary layer between payment providers and the underlying payment processing infrastructure. It provides standardized interfaces and common functionality that mediate between diverse provider requirements and the core payment system, enabling rapid deployment of new applications while maintaining service-specific capabilities.
3Productivity
If a standardized framework is implemented, then development efficiency improves, but flexibility for proprietary interfaces may be reduced
Solution Approach 1:
The framework employs dynamic characteristics through extensible interfaces and configuration mechanisms that allow payment providers to adapt the standardized framework to their proprietary requirements. The system can dynamically adjust between standardized operations and provider-specific customizations, maintaining both development efficiency and interface flexibility.
Data Source
AI summary
Embodiments of the present invention provide a payment application framework. In an example embodiment, a request at a payment facilitator is received. The request is for a split payment to a plurality of receiving parties. The request is processed to establish one or more payment transactions. A single transfer of funds is sent from an account of a sender to at least one account of a receiving party of the plurality of receiving parties.