POS System Master-Contractor Account Linking
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Solution Overview
Problem
Conventional point-of-sale systems are limited to a single merchant or bank account, failing to accommodate the need for linking multiple disparate merchant or contractor accounts, which restricts payment routing and transaction processing flexibility.
Innovation Solution
A point-of-sale system that enables a master merchant account to process transactions by linking multiple contractor accounts, allowing funds to be transferred between them, with features such as generating bills, receiving payments, and allocating portions of payments to respective contractor accounts after factoring costs, commissions, and redeemed instruments.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If a conventional POS system is tied to a single merchant account, then the system structure is simple and easy to operate, but the system cannot accommodate multiple contractor accounts or flexible payment routing
Solution Approach 1:
The system segments the merchant account into a master merchant account and multiple contractor accounts. Each contractor account operates independently while being linked to the master account, allowing flexible payment routing to different contractors based on transaction requirements.
Solution Approach 2:
The master merchant account serves multiple functions: it acts as the primary billing entity, manages multiple contractor accounts, processes payments, and distributes funds to appropriate contractors. This multi-functional design eliminates the need for separate systems for each function.
2Adaptability or versatility
If a POS system links multiple disparate merchant or contractor accounts, then payment routing flexibility is improved, but the system complexity and difficulty of managing multiple accounts increases
Solution Approach 1:
The master merchant account acts as an intermediary between the consumer and multiple contractor accounts. It receives payments from consumers and automatically distributes funds to the appropriate contractor accounts based on pre-configured routing rules, simplifying the management complexity.
Solution Approach 2:
The system allows pre-configuration of payment routing rules and contractor account associations before transactions occur. This preliminary setup enables automatic payment distribution without requiring manual intervention during each transaction, easing operational complexity.
Data Source
AI summary
Systems and related methods facilitating interactions between a merchant device, a central system and a consumer device are discussed herein. A system that may be implemented to provide a master merchant having a merchant device with a POS system configured to generate a bill for products, experiences, or services provided, a way to link or associate one or more accounts, such as contractor accounts to their master merchant account or merchant device, and transfer a portion of the payment to the linked accounts. In addition, some embodiments of the system may provide for receiving selection of, for each product, service or experience provided, a contractor account from a list of one or more approved contractor accounts linked to the master merchant account. Further embodiments may provide for receiving a payment or payment information for a charge amount, the charge amount comprised of costs associated with the products, services and experiences, as well as adjustments for redeemed instruments, taxes, tip or the like.