Payout Payment Platform With Card Linking Mechanism
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Solution Overview
Problem
Traditional payout payment methods are inefficient and costly, requiring multiple steps and parties, leading to long waiting periods for recipients to receive funds.
Innovation Solution
A payment card linking mechanism that allows payees to link their financial accounts with an identifier, enabling quick and direct payout payments by generating a payout payment upon identification of the identifier, which is then deposited into the payee's financial account within a short time.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Loss of time
If traditional payout payment methods are used with multiple parties and steps, then transaction security and reliability are maintained, but waiting time increases and transaction efficiency decreases
Solution Approach 1:
The patent extracts and eliminates unnecessary intermediary parties from the traditional payment chain. By implementing a direct payment system where the payer's account is directly debited and the payee's account is directly credited, it removes the complexity of multiple intermediaries while maintaining transaction security through system-controlled verification.
Solution Approach 2:
The patent segments the payment process into distinct, automated stages: authentication, authorization, execution, and confirmation. Each stage is handled independently by the system, reducing manual intervention and accelerating the overall process while maintaining reliability through structured verification at each step.
2Ease of operation
If traditional payroll setup processes are used with multiple registration steps, then payment verification and security are ensured, but ease of operation decreases and setup complexity increases
Solution Approach 1:
The system performs preliminary actions by pre-verified account setups and pre-established payment rules. Once a payee's account is initially verified and registered in the system, subsequent payments can be processed automatically without requiring repeated verification steps, greatly simplifying the user experience while maintaining security.
Solution Approach 2:
The patent implements self-service mechanisms where the system automatically handles account verification, payment routing, and confirmation processes. The payer and payee simply need to provide basic account information, and the system autonomously completes the complex verification and processing steps, reducing manual effort while ensuring security through automated validation.
3Loss of energy
If multiple intermediary parties are involved in payment processing, then transaction security and compliance are maintained, but transaction fees increase
Solution Approach 1:
The patent removes unnecessary intermediary parties that generate fees, implementing a direct payment transfer mechanism. By consolidating the payment processing function into a single system that directly connects payer and payee accounts, it eliminates multiple fee-generating intermediaries while maintaining security through centralized control and verification.
Solution Approach 2:
The system merges multiple functions (authentication, authorization, transaction processing, and confirmation) into a single integrated payment platform. This consolidation reduces the need for separate intermediary services, thereby reducing cumulative transaction fees while maintaining comprehensive security and compliance through unified system control.
Data Source
AI summary
In one embodiment, a method includes receiving first payment data and a first identifier of a first user, wherein the first payment data is linked to the first identifier and stored in a datastore of the payment service and in association with a first user account of the payment service; receiving, second payment data and a second identifier of a second user, wherein the second payment data is linked to the second identifier and stored in the datastore and in association with a second user account of the payment service; receiving a request for a near-instantaneous transfer of a payment for a transaction between the first user and the second user, the request including the first identifier; and in response to receiving the request, identifying the first user account and the second user account; and causing the near-instantaneous transfer of the payment to a financial account of the first user.