Payment Facilitator Code Image Transaction System
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Solution Overview
Problem
Current transaction systems for online and mobile transactions face challenges in providing a straightforward and secure registration and payment process for both users and merchants, particularly for small merchants, due to the complexity of merchant qualification and limited security mechanisms when ordering as a guest.
Innovation Solution
A method involving a payment facilitator computing system that pre-qualifies authentication and payment solutions, allowing users to authenticate and initiate transactions using a code image, such as a QR code, which includes transaction elements, and manages user identities, enabling rapid and secure purchases without requiring individual merchant qualification.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If a user orders as a guest, then the registration process is simple and quick, but the payment process becomes slow and security mechanisms are limited
Solution Approach 1:
The system performs preliminary authentication and payment setup by generating a code image that contains pre-validated transaction elements. When the customer scans this code, the authentication and payment processing have already been prepared, eliminating the need for time-consuming manual entry of payment details during the actual transaction.
Solution Approach 2:
A code image (such as QR code) is introduced as an intermediary carrier that transports transaction elements from the merchant system to the customer's mobile device. This intermediary enables seamless transfer of payment information without requiring the customer to manually input data, thus speeding up the payment process while maintaining security.
2Productivity
If a user registers for rapid authentication, then the user experience is improved with fast authentication, but the merchant qualification process becomes time-consuming and complex
Solution Approach 1:
The complex merchant qualification and authentication validation processes are extracted from the individual merchant system and consolidated into the payment facilitator system. The merchant only needs to generate a code image, while the payment facilitator handles the stringent qualification verification and authentication validation, thus enabling rapid transactions without burdening merchants with complex qualification processes.
Solution Approach 2:
The payment facilitator system automatically performs merchant qualification verification and authentication validation without requiring manual intervention from merchants. The system self-validates the merchant's credentials and the authenticity of code images, enabling rapid onboarding of merchants while maintaining high security standards.
3Reliability
If stringent merchant qualification is implemented, then transaction security is ensured, but the barrier to entry for small merchants increases significantly
Solution Approach 1:
The payment facilitator acts as an intermediary that absorbs the complexity of stringent qualification processes. Small merchants can simply register with the payment facilitator and generate code images, while the facilitator handles the rigorous security verification in the background. This intermediary approach maintains high security standards while making the system accessible to small merchants.
Solution Approach 2:
The merchant onboarding process is segmented into two distinct layers: a simple front-end process for merchants to register and generate code images, and a back-end automated qualification verification process handled by the payment facilitator. This segmentation allows small merchants to quickly join the system while the facilitator ensures stringent security requirements are met through automated background checks.
Data Source
AI summary
A method of performing a transaction between a merchant and a customer is described. The method involves a customer computing device (11), a merchant computing device (12) and a payment facilitator computing system (19). Firstly, there is agreement upon a transaction between the customer computing device (11) and the merchant computing device (12), wherein a first one of said computing devices produces a code image representing elements of the transaction.