Payment Timing Prediction via Event Tracking

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Solution Overview

Problem

Current electronic payment service providers cannot accurately inform subscribers when payments will be completed, leading to difficulties in managing cash flow and potentially resulting in late payments, as they rely on batch processing and varying payment methods that obscure the timing of remittance delivery.

Innovation Solution

A system and method that maintain records of payment issuance times and post-issue event information, allowing for the determination of a precise period to complete future payments by prioritizing and thresholding post-issue event information, enabling proactive notification of payment due dates and timely posting recognition without subscriber intervention.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Productivity

If batch processing is used for payments, then processing capacity is improved, but payment completion timing precision deteriorates

Engineering Contradiction:

Improveprocessing capacityVSAvoidpayment completion timing precision

Core Design Contradiction:

ProductivityVSMeasurement precision

Solution Approach 1:

The patent segments the payment processing system into multiple independent payment processors that can handle payments individually rather than in batches. Each processor tracks and communicates payment completion timing separately, allowing the system to maintain high processing capacity through parallel processing while providing precise timing information for each payment transaction.

Inventive Principle:

Principle #1Segmentation

2Adaptability or versatility

If multiple payment methods are supported, then adaptability is improved, but payment timing predictability deteriorates

Engineering Contradiction:

Improvepayment method flexibilityVSAvoidpayment timing predictability

Core Design Contradiction:

Adaptability or versatilityVSReliability

Solution Approach 1:

The patent implements a feedback mechanism where the payment completion notification system receives actual completion timing information from multiple different payment processors and methods. This feedback is then used to provide accurate, real-time updates to payors about when their specific payment will be completed, regardless of which payment method is used, thereby maintaining predictability across diverse payment options.

Inventive Principle:

Principle #23Feedback

3Productivity

If payment processing is automated, then operational efficiency is improved, but ability to provide customized payment notifications deteriorates

Engineering Contradiction:

Improveoperational efficiencyVSAvoidnotification customization

Core Design Contradiction:

ProductivityVSAdaptability or versatility

Solution Approach 1:

The patent applies local quality by allowing different payors to receive payment completion notifications tailored to their specific needs and preferences. The system automatically adapts the notification format, timing, and delivery method based on individual payor characteristics, payment amounts, and historical patterns, while maintaining overall automated processing efficiency through rule-based customization.

Inventive Principle:

Principle #3Local quality

Data Source

PatentUS7930248B1Technique for calculating payee specific time to payment completion

Publication Date: 2011.04.19 CHECKFREE SERVICES CORP

AI summary

A technique for determining a period of time to complete a payment to a payee is provided. The time that each of one or more payments to a payee is issued is stored. Post-issue event information associated with each of the one or more payments is received. The period of time to complete a future payment to that payee on behalf of a payor is then determined based upon the stored payment issue time information and the received post-issue event information.