Payment Function Service Edge Negotiation
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Solution Overview
Problem
Existing payment transaction systems are insecure and inefficient due to the need for intermediaries, which can slow down and compromise the security of financial transactions.
Innovation Solution
Implementing a payment function as a service (PFaaS) that enables direct communication between computing devices and edge network nodes, allowing payment function services to negotiate and communicate with each other to process transactions without intermediaries, thereby enhancing security and speed.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Speed
If payment transactions use intermediaries or third-party interfaces, then security may be maintained through established protocols, but transaction speed decreases and security is compromised due to additional communication hops
Solution Approach 1:
The patent extracts and eliminates intermediary payment gateways and third-party interfaces from the payment transaction system. By removing these intermediate components, the system achieves direct peer-to-peer communication between payment participants, thereby increasing transaction speed while maintaining security through cryptographic protocols rather than intermediary validation.
Solution Approach 2:
The patent replaces traditional intermediary payment gateways with a decentralized network of nodes that use cryptographic protocols for direct communication. Instead of relying on centralized intermediaries to validate and relay transactions, the system uses distributed consensus mechanisms and cryptographic signatures to enable secure direct transactions between parties.
2Productivity
If payment systems use multiple intermediaries and third-party interfaces, then compatibility and reliability may be improved, but device complexity and transaction processing time increase
Solution Approach 1:
The patent segments the payment system into independent decentralized nodes rather than a hierarchical structure with multiple intermediary layers. Each node operates autonomously with identical functionality, eliminating the need for complex integration between different intermediary systems and simplifying the overall system architecture while improving processing efficiency.
Solution Approach 2:
The patent creates a universal payment protocol that can be implemented by any node in the network, replacing the need for multiple specialized intermediary systems. This universal approach allows any participant to directly transact with any other participant using the same cryptographic protocols, reducing system complexity and improving productivity.
Data Source
AI summary
A computing device having a payment function service may receive, from an external computing device associated with a first user, a request to transact a payment between the first user and a second user. The computing device may negotiate with a first plurality of payment function services of a parent payment gateway associated with the first user and with a second plurality of payment function services of a receiving payment gateway associated with the second user to transact the payment between a second payment function service of the parent payment gateway and a third payment function service of the receiving payment gateway, and may communicate with the second payment function service and the third payment function service to process the payment.