Payment Delegation Token Linking for Transaction Splitting
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Solution Overview
Problem
Existing systems are limited in their ability to allow a single payor to redirect payments for a given transaction to other payors during a post-payment experience and to manage receipt of payment from such other payors in a manner that allows the original payor to recognize that the received payments are associated with the original transaction.
Innovation Solution
A system and method for facilitating the delegation of partial payments for a purchase transaction and linking received payments back to the original purchase transaction, where a user can request partial payment from other individuals through a banking application, and the payments are linked using a payment token embedded in the payment transaction record.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If a single payor makes a single payment for each individual transaction, then the payment processing is simple and fast, but the system cannot allow post-payment redirection to other payors
Solution Approach 1:
The payment transaction record is segmented into multiple fields, including a dedicated delegation field that can store payment redirection instructions. This allows the system to maintain a simple basic payment structure while adding the capability for post-payment redirection through an optional segment of the record.
Solution Approach 2:
The payment system is designed to be dynamic, allowing the payment transaction record to evolve from a static single-payment structure to a dynamic structure that can accommodate redirection instructions. The system can adapt the payment flow based on delegation requests received after the initial payment is processed.
2Productivity
If accounting software divides a transaction by dollar amount into individual transactions, then the transaction splitting is automated, but the time spent breaking apart the transaction becomes high and the risk of mistakes increases
Solution Approach 1:
The system performs preliminary action by embedding payment tokenization and delegation instructions into the payment transaction record at the time of the original payment. This pre-prepared structure eliminates the need for subsequent manual or automated breaking apart of transactions, as the redirection capability is already in place.
Solution Approach 2:
The payment token acts as an intermediary element that carries delegation instructions through the payment system. Instead of requiring the system to break apart transactions by calculating dollar amounts, the tokenized delegation field serves as a mediator that directly specifies which payors should receive payment, simplifying the entire process.
3Ease of operation
If the payment token is embedded in an unused field of the payment transaction record, then the payment processing remains simple, but the linking of received payments to the original transaction becomes complex
Solution Approach 1:
The payment token creates a copy of the delegation instructions within the payment transaction record. This copy contains all necessary linking information (original transaction reference, payor identifiers, amounts) that enables the receiving system to associate the payment with the correct original transaction without complicating the processing structure.
Solution Approach 2:
The unused field in the payment transaction record serves as a container that can hold the payment token. By utilizing this existing field, the system avoids adding structural complexity while still achieving the capability for payment linking. The field acts as a placeholder that can be filled with the tokenized data without affecting the overall simplicity of the processing architecture.
Data Source
AI summary
Methods, systems, devices, and computer-readable media for a payment delegation and linking system are provided. The system may generate a delegation request to send to an individual for payment of a portion of a value of a transaction. The delegation request may be sent to the individual with a payment link embedded with a token. Upon initiation of payment in response to the delegation request, the token may be embedded in an unused field of a payment transaction record generated at the individual's device and may be transmitted from the individual's device to a payment processing system for processing and settlement. The payment transaction record may ultimately be received at the requestor's bank with the token intact. The token may be used to link the received payment transaction with the original delegated transaction. The original delegated transaction and the received payment transaction may be displayed together in a transaction summary.