Payment Processing Platform Using Remote Intermediary Verification
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Solution Overview
Problem
Existing systems for transferring funds, such as those used by payees like schools or charity events, often require costly and time-consuming hardware and software installations, which can be impractical for small transactions or low-risk events due to lack of suitable communications and high installation expenses.
Innovation Solution
A system utilizing a payer device, like a smartphone, that connects to an authentication and payment processing platform to facilitate fund transfers without requiring hardware or software installations at the payee's location, using automated authorization and payment processing servers that communicate through various networks to verify and execute transactions.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Measurement precision
If hardware and software systems are installed at the payee's location to receive payments, then payment verification accuracy is improved, but device complexity and installation cost increase
Solution Approach 1:
The patent introduces a remote server as an intermediary to handle payment verification. Instead of installing complex verification systems at the payee's location, the payee device simply receives payments and the server performs background verification of payer accounts, transforming the verification function from a local complex system to a remote centralized service
Solution Approach 2:
The patent extracts the payment verification function from the payee's local system and relocates it to a remote server. The complex authentication and account verification processes are removed from the payee device and performed remotely, leaving only simple payment reception capabilities at the payee location
2Reliability
If hardware and software systems are installed at the payee's location, then payment processing reliability is improved, but installation time and cost increase
Solution Approach 1:
The remote server acts as a mediator that provides payment verification services without requiring local installation. The server handles authentication and verification remotely, eliminating the need for payees to spend time installing and configuring complex local systems while maintaining reliable payment processing through centralized verification
Solution Approach 2:
The system enables self-service payment processing where the payee device automatically receives payments and the server automatically performs verification in the background. No manual installation, configuration, or maintenance of verification systems is required at the payee location, as the server handles all complex operations autonomously
3Adaptability or versatility
If communication infrastructure is set up at the payee's location, then payment processing capability is improved, but system complexity and maintenance burden increase
Solution Approach 1:
The remote server serves as an intermediary that handles all complex communication and verification protocols. The payee device only needs basic communication capability to receive payments, while the server manages authentication, account verification, and complex communication protocols remotely, greatly simplifying the payee's system requirements
Solution Approach 2:
The remote server provides universal payment verification services that can serve multiple payees with different capabilities. The server handles diverse authentication methods, account types, and verification scenarios centrally, allowing payees to use simple devices while maintaining versatile payment processing capability through the server's multi-functional verification system
Data Source
AI summary
An electronic payment instruction file associated with a payer identifier and a payee identifier from a remote payer device may be received. Information about the electronic file may be stored into a transaction database. An authorization and payment processing server may retrieve, from the transaction database, the information about the electronic payment instruction file and automatically arrange for funds to be transferred from a payment account associated with the payer identifier to an account associated with the payee identifier. The authorization and payment processing server may then transmit a confirmation signal to the remote payer device confirming that the payment has been completed without transmitting any information to any device associated with the payee identifier at the location of the transaction.