Unified Proxy Account Management for Merchant Transactions
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Solution Overview
Problem
Consumers and merchants face difficulties in managing and tracking multiple accounts, such as prepaid, bank, and loyalty accounts, due to the complexity of account information and the number of different merchants involved.
Innovation Solution
A system and method for managing accounts using a proxy, where a merchant ID and proxy information are received to determine a payment account with a balance, allowing for the transmission of payment information for transactions, facilitating sales and offering targeted promotions based on merchant locations and consumer profiles.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If consumers use multiple separate accounts for different merchants, then they can access specific merchant services, but it becomes difficult to manage and track account information
Solution Approach 1:
The patent combines multiple merchant-specific accounts into a single unified account system. The consolidated account stores information for multiple merchants, allowing consumers to manage all account details through one interface rather than separately managing each merchant account, thus resolving the contradiction between service accessibility and management ease
Solution Approach 2:
The unified account system serves multiple functions simultaneously - it stores information for different merchants, tracks balances across accounts, and enables transactions with various merchants. This multi-functional approach allows a single account to replace multiple specialized accounts, improving ease of operation while maintaining adaptability
2Adaptability or versatility
If merchants track multiple account types, then they can provide comprehensive services, but the complexity of tracking increases
Solution Approach 1:
The system merges tracking of multiple account types into a unified tracking mechanism. The consolidated account structure allows merchants to monitor balances and transaction information across different account types through a single system, reducing the complexity of tracking while maintaining comprehensive service capability
Solution Approach 2:
The unified account acts as an intermediary layer between the merchant system and multiple account types. It abstracts the complexity of tracking different account types behind a single interface, allowing merchants to manage diverse accounts without directly handling the complexity of each individual account type
Data Source
AI summary
Embodiments of the disclosure relate to systems and methods for managing accounts associated with a proxy. In one embodiment, a method can include receiving a merchant ID associated with a merchant from either a user interface or a point of sale device associated with the merchant. The method can include receiving proxy information associated with a proxy from either the user interface or the point of sale device associated with the merchant. Further, the method can include determining a payment account associated with both the merchant and the proxy, based at least in part on the merchant ID or the proxy information, the payment account having a balance and selected from an account database. The method can include transmitting payment information associated with the payment account to either the user interface or the point of sale device, based at least in part on the merchant ID or the proxy information.