Pending P2P Transaction Matching to Prevent Duplicate Transfers
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Solution Overview
Problem
Person-to-Person (P2P) real-time transactions often become pending due to issues like limited Internet connectivity, PSP server problems, or network bandwidth, leading to multiple unsuccessful fund transfers and potential financial loss for senders.
Innovation Solution
A computer-implemented method and system that identifies and manages pending transactions by a sender Payment Service Provider (PSP) server, using transaction parameters to associate and determine successful transactions, and transmitting messages to discard unsuccessful ones, with features like unique pending IDs and ISO 8583 standard messages.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If the sender repeats the transaction when the first transaction is pending, then the transaction may eventually succeed, but the sender may lose money due to multiple fund transfers
Solution Approach 1:
The system performs preliminary actions by assigning a unique pending ID to the first transaction and proactively notifying the sender about the pending status before they initiate another transaction. This advance notification prevents redundant transactions and potential financial loss while ensuring the transaction will eventually be processed successfully.
Solution Approach 2:
The system implements feedback mechanisms by continuously monitoring the status of pending transactions and automatically notifying the sender when a transaction succeeds or fails. This feedback loop eliminates the need for senders to manually repeat transactions, as they receive real-time updates about the transaction outcome, thereby preventing duplicate fund transfers.
2Ease of operation
If the sender manually requests reversal of a pending transaction, then the sender may recover funds, but the receiver may decline the request and the sender loses money
Solution Approach 1:
The system provides self-service functionality by automatically managing pending transactions without requiring manual intervention from the sender. The system autonomously monitors transaction status, determines success or failure, and executes appropriate actions (completion or reversal) without needing the sender to manually request reversals, thereby eliminating the risk of manual reversal denial.
Solution Approach 2:
The system takes preliminary action by pre-notifying the sender of the pending status and providing automated status updates, which eliminates the need for manual reversal requests. This advance information and automated management ensures that fund recovery happens automatically when appropriate, preventing financial loss without requiring sender intervention.
3Reliability
If the system monitors multiple transactions simultaneously, then the sender's financial loss is reduced, but the system complexity increases
Solution Approach 1:
The system applies segmentation by dividing transaction monitoring into distinct, manageable components: unique pending ID assignment, status monitoring modules, notification mechanisms, and automated reversal processes. This modular segmentation allows the system to handle multiple transactions simultaneously while maintaining manageable complexity through organized, independent functional units.
Solution Approach 2:
The system uses an intermediary approach by introducing a centralized transaction management layer that coordinates monitoring between the sender PSP server and receiver PSP server. This intermediary layer manages the complexity of simultaneous monitoring by providing a standardized interface and coordination mechanism, reducing overall system complexity while enabling reliable multi-transaction monitoring.
Data Source
AI summary
A computer-implemented method is provided. A first transaction from a sender made via the sender PSP server to a receiver via a receiver PSP server is identified. When the first transaction is pending, at least one subsequent transaction from the sender to the receiver is detected. Transaction parameters of the at least one subsequent transaction is compared with transaction parameters of the first transaction for determining that the first transaction and the at least one subsequent transaction are associated with a single payment. One or more messages are transmitted, when one of the first transaction and the at least one subsequent transaction is identified as successful to indicate that one of the first transaction and the at least one subsequent transaction is successful and to discard other transactions.