Automated Payment Facilitator Integration Platform

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Solution Overview

Problem

Current payment processing systems lack a centralized integration solution that effectively manages transactions between payment facilitators and submerchants, limiting the ability of payment facilitators to aggregate payments, assume financial liability, and control customer experiences for their submerchants.

Innovation Solution

A computer-implemented method and system for automated integration between payment facilitators and submerchants, which includes registering and validating legal entities or submerchants, performing background checks, and providing a user interface for managing transaction details, fee profiles, and payout options, enabling better decision-making and operational efficiency.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Adaptability or versatility

If conventional payment processing methods are used, then transactions can be authorized and funds transferred, but payment facilitators lack centralized integration to manage submerchants effectively

Engineering Contradiction:

Improvepayment facilitator management capabilityVSAvoidsystem integration structure

Core Design Contradiction:

Adaptability or versatilityVSDevice complexity

Solution Approach 1:

The patent introduces a centralized payment facilitator platform that acts as an intermediary between submerchants and the payment network. This platform enables payment facilitators to register, manage, and control multiple submerchants through a unified interface, resolving the fragmentation issue without requiring complex point-to-point integrations between each submerchant and the payment network.

Inventive Principle:

Principle #24Intermediary (Mediator)

Solution Approach 2:

The payment facilitator platform provides universal management capabilities that serve multiple functions: registering submerchants, validating information, performing background checks, managing fee profiles, and controlling payout options. This multi-functional approach allows a single system to handle diverse payment facilitator needs without requiring separate specialized systems for each function.

Inventive Principle:

Principle #6Universality (Multi-functionality)

2Productivity

If manual registration and validation processes are used, then submerchants can be added to the system, but the process is time-consuming and inefficient

Engineering Contradiction:

Improvesubmerchant onboarding speedVSAvoidvalidation and background check duration

Core Design Contradiction:

ProductivityVSLoss of time

Solution Approach 1:

The system performs preliminary actions by pre-establishing validation rules, background check criteria, and fee profile templates before submerchant onboarding. This allows automated validation to occur immediately upon submission, significantly reducing processing time compared to sequential manual review processes.

Inventive Principle:

Principle #10Preliminary action

Solution Approach 2:

Submerchants can complete portions of the registration process themselves by providing required information and documents through the platform. The system then automatically validates this information and initiates background checks, reducing the need for manual intervention and accelerating the overall onboarding process.

Inventive Principle:

Principle #25Self-service

3Adaptability or versatility

If payment facilitators want to aggregate payments and control customer experience, then centralized management is needed, but current systems lack this integration capability

Engineering Contradiction:

Improvepayment aggregation and control capabilityVSAvoidtransaction management complexity

Core Design Contradiction:

Adaptability or versatilityVSEase of operation

Solution Approach 1:

The patent merges multiple submerchant accounts and transactions under a single payment facilitator umbrella within the platform. This consolidation enables automatic payment aggregation, unified fee profile management, and centralized control over customer experience elements such as payout timing and options, eliminating the need for manual tracking and management of individual submerchant transactions.

Inventive Principle:

Principle #5Merging (Combining)

Data Source

PatentUS20220335430A1Systems and methods for automated integration between payment facilitators and submerchants

Publication Date: 2022.10.20 WORLDPAY LLC

AI summary

Systems and methods are disclosed for automated integration between payment facilitators and submerchants. One method includes receiving and storing an identifier and financial information of a payment facilitator, registering the payment facilitator as a user of a user interface, receiving a command from the payment facilitator, the command being one of: register a legal entity or a submerchant, wherein the registering associates the legal entity or the submerchant with the payment facilitator, validates financial and identifying information pertaining to the legal entity or the submerchant, and is based on an acceptance after a background check of the legal entity or the submerchant, view or edit details of the legal entity or the submerchant, perform a search of legal entities or submerchants associated with the payment facilitator, using one or more search criteria, and add, view, edit, and assign fee profiles.