Payment Processor Module Consolidating Multi-Merchant Transactions
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Solution Overview
Problem
Current online shopping systems require customers to make separate transactions at different merchant websites when purchasing multiple products, which is time-consuming and inefficient, especially when buying from multiple merchants.
Innovation Solution
A system and method that utilizes a payment processor module to facilitate a single transaction across multiple e-commerce platforms, allowing customers to purchase products from different merchants through real-time API integration and digital wallets, consolidating payments into a single transaction.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If customers make separate transactions at each merchant website, then each transaction can be processed independently, but the total transaction time and customer effort increase significantly
Solution Approach 1:
The patent combines multiple separate transactions into a single consolidated transaction through a payment processor module. This module receives product information from multiple e-commerce platforms and processes all purchases in one transaction, reducing the total time required while maintaining the reliability of individual transaction processing through real-time data synchronization.
Solution Approach 2:
The payment processor module acts as an intermediary between multiple e-commerce platforms and the customer's payment method. It receives real-time product information from different merchants, consolidates the purchase details, and processes a single transaction, thereby reducing customer effort and time without compromising the integrity of individual merchant transactions.
2Adaptability or versatility
If customers visit multiple merchant websites to compare prices and purchase products, then they can find the best prices, but the complexity and effort of the shopping process increase
Solution Approach 1:
The payment processor module provides a universal interface that works across multiple e-commerce platforms. It can handle product information from different merchants, consolidate purchases from various sources, and process transactions through a single payment method, making the system versatile while simplifying the customer experience.
Solution Approach 2:
The system segments the shopping process into two distinct phases: product selection (where customers can browse multiple merchants and compare prices) and transaction processing (where all purchases are consolidated into a single payment). This segmentation allows customers to maintain price comparison capabilities while simplifying the actual purchasing operation.
3Productivity
If real-time data transmission is implemented across multiple e-commerce platforms, then transaction consolidation is enabled, but the system complexity and integration requirements increase
Solution Approach 1:
The payment processor module serves as a centralized intermediary that manages real-time data transmission between multiple e-commerce platforms. It implements standardized communication protocols and data formats, reducing the complexity of direct platform-to-platform integration while maintaining high transaction processing efficiency through real-time data consolidation.
Data Source
AI summary
System and method for facilitating purchase of products from a plurality of different merchants. The system includes a payment processor module that is in communication with a first e-commerce platform associated with a first merchant and a second e-commerce platform associated with a second merchant. The payment processor module is configured to receive data comprising: first product information relating to a first product to be purchased by a customer through the first e-commerce platform; and second product information relating to a second product to be purchased by the customer through the second e-commerce platform. The data is received in real-time without delay after the customer provides an indication of intent to purchase the first and the second products. The payment processor module is further configured to initiate a single transaction based on the data that is received, wherein the single transaction corresponds to the purchase of the first and the second products by the customer.