Payment Server Reward Configuration and Wallet Generation
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Solution Overview
Problem
Existing reward programs and promotional offers are not customized to individual customers and do not provide a universal interface for redeeming cryptocurrency rewards, making it difficult for customers to effectively utilize cryptocurrency rewards, especially when integrating them with fiat currency purchases.
Innovation Solution
A payment server system that processes point-of-sale transactions by determining a reward configuration based on historical transaction activity, allowing users to select reward types, including cryptocurrency, and instantly generating a cryptocurrency wallet for reward redemption, enhancing security and user control.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If traditional reward programs are used, then customers can receive rewards, but the rewards are not customized to individual customers and require external services for cryptocurrency redemption
Solution Approach 1:
The payment card system is enhanced to perform multiple functions: it serves as both a traditional payment instrument and a cryptocurrency reward redemption interface. The system integrates cryptocurrency wallet functionality directly into the payment card infrastructure, allowing the same system to handle both fiat currency transactions and cryptocurrency reward distribution without requiring separate external services
Solution Approach 2:
The system automatically generates cryptocurrency wallets and configures reward parameters based on customer profiles and transaction history. The payment card system self-adapts to customer preferences by analyzing spending patterns and automatically customizing reward configurations, eliminating the need for manual setup or external intervention
2Ease of operation
If cryptocurrency rewards are integrated with fiat currency purchases, then customers can redeem rewards more conveniently, but it requires good memory and affirmative activities by the customer
Solution Approach 1:
The system pre-configures cryptocurrency wallet addresses and reward parameters before transactions occur. Customer profiles are pre-loaded with preferred cryptocurrency types and wallet configurations, so when a transaction qualifies for a reward, the system can immediately execute the redemption without requiring the customer to recall or input any information during the transaction
Solution Approach 2:
The system continuously monitors transaction data and automatically determines when a transaction qualifies for a cryptocurrency reward. Real-time feedback mechanisms track spending patterns and automatically trigger reward configurations, eliminating the need for customers to manually track or remember reward eligibility criteria
3Reliability
If external services are used for cryptocurrency redemption, then customers can access cryptocurrency rewards, but it increases security risks and reduces user control
Solution Approach 1:
The system merges the cryptocurrency wallet functionality directly into the existing payment card infrastructure. By combining the payment processing system and cryptocurrency wallet management into a single integrated platform, the system eliminates the need for customers to interact with separate external cryptocurrency services, thereby maintaining security while providing full user control over reward redemption
Solution Approach 2:
The payment card system acts as an intermediary between the cryptocurrency network and the customer. It manages wallet addresses, handles transaction signing, and controls reward distribution, allowing customers to receive and control cryptocurrency rewards through a familiar and secure payment interface without directly exposing them to the complexities or security risks of external cryptocurrency services
Data Source
AI summary
A computer-implemented method including storing assets from an external entity in a first wallet of a payment service; training a machine-learning model using transaction data, user data, and/or rewards data; determining, using the machine-learning model, reward offers personalized for a user; activating a reward offer; receiving a request to process payment for a user's payment transaction; determining that a reward configuration is applicable; determining an amount of stored assets to assign to the user and assigning the assets to a second wallet of the user, wherein assigning the amount comprises: updating, using an internal ledger, the first wallet to indicate that a portion of the stored assets is owned by the user; and updating the second wallet to indicate ownership of the amount of the asset, wherein the updating of the first wallet and the second wallet is performed without accessing the external entity when updating.