Automatic Payment Instrument Selection via Success Rate Analysis
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Solution Overview
Problem
Existing network payment methods require manual selection of payment instruments, leading to complex operations and low transaction efficiency due to the need for payers to choose among multiple payment options before each transaction.
Innovation Solution
A method and apparatus that analyze payment records to determine a preferred payment instrument based on success rates, automatically selecting the instrument with the highest success rate for transactions, thereby simplifying the payment process and improving efficiency.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If manual selection of payment instrument is implemented, then payers can choose among multiple payment options, but operations become complicated and transaction efficiency decreases
Solution Approach 1:
The system automatically selects payment instruments based on historical payment records and success rates without requiring manual user intervention. The apparatus autonomously analyzes payment data, determines optimal payment instruments, and executes payments, freeing users from complex selection processes while maintaining adaptability to different payment scenarios
Solution Approach 2:
The system dynamically changes payment instrument selection based on analyzed parameters from payment records, such as payment success rates, transaction amounts, and merchant categories. By transforming static manual selection into dynamic parameter-driven automatic selection, the system resolves the contradiction between versatility and ease of operation
2Adaptability or versatility
If manual selection of payment instrument is implemented, then payers can choose among multiple payment options, but transaction efficiency decreases
Solution Approach 1:
The system performs preliminary analysis of payment records and pre-determines optimal payment instruments before actual transactions occur. By pre-calculating payment success rates and establishing selection criteria in advance, the system eliminates time-consuming manual selection during transactions, thereby improving transaction efficiency while maintaining payment option versatility
Solution Approach 2:
The system continuously analyzes payment records and uses feedback from past transaction outcomes to optimize payment instrument selection. By incorporating feedback loops that learn from successful and unsuccessful payments, the system improves transaction efficiency over time while adapting to diverse payment scenarios
3Reliability
If automatic selection based on payment success rate is implemented, then payment reliability increases, but system complexity increases
Solution Approach 1:
The patent introduces a payment instrument selection apparatus as an intermediary between the user and multiple payment instruments. This intermediary automatically analyzes payment records, calculates success rates, and selects appropriate instruments, thereby improving payment reliability while containing system complexity through modular design and automated decision-making algorithms
Data Source
AI summary
Methods and apparatuses of controlling a network payment are disclosed, which obtain a payment record when a selection of a payment instrument is needed, and determine a preferred payment instrument for a current transaction based on the payment record. By analyzing the payment record, a payment success rate of each payment instrument supported by a current payer under a current business scenario may be obtained, and a payment instrument having a maximum payment success rate may be set as the preferred payment instrument for the current transaction. The embodiments of the present disclosure therefore are able to implement an automatic selection of a payment instrument, reduce manual operations of a payer, simplify a payment process, and improve the payment efficiency and the transaction efficiency. In addition, using a payment instrument having a maximum payment success rate as a preferred payment instrument for a transaction may improve a success probability of a one-time payment, thus avoiding the need of re-selecting a new payment instrument and thereby improving the payment efficiency and the transaction efficiency.