Real-Time Payment Processing System for Same-Day Application

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Solution Overview

Problem

Existing electronic payment systems do not facilitate real-time or near-real-time transactions, leading to late fees and customer dissatisfaction when payments are processed the day after they are due, even if made before the cut-off time.

Innovation Solution

Implementing a system that determines the current time to decide between a non-real-time or real-time payment processing method, where if the current time is before the cut-off, the payment is processed later, and if after, it is processed immediately using a real-time payment system that requests and confirms electronic debiting from the customer's account for immediate crediting.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Productivity

If batch processing is used to aggregate multiple payment transactions, then processing efficiency is improved, but payment application timing becomes delayed beyond real-time

Engineering Contradiction:

Improveprocessing efficiencyVSAvoidpayment application timing

Core Design Contradiction:

ProductivityVSLoss of time

Solution Approach 1:

The system dynamically switches between batch processing mode and real-time processing mode based on the current time relative to the payment due date. Before the cut-off time, batch processing is used for efficiency; after the cut-off time, real-time processing is used to ensure same-day application, thus adapting the processing method to the temporal context.

Inventive Principle:

Principle #15Dynamics

Solution Approach 2:

The system changes the processing parameter from batch mode to real-time mode based on the time parameter. When the current time exceeds the cut-off time, the processing mode parameter is changed to ensure immediate payment application, resolving the contradiction between efficiency and timing.

Inventive Principle:

Principle #35Parameter changes

2Device complexity

If batch processing with cut-off time is used, then system complexity is reduced, but customer satisfaction deteriorates when payments are applied the day after due date

Engineering Contradiction:

Improvesystem complexityVSAvoidcustomer satisfaction

Core Design Contradiction:

Device complexityVSEase of operation

Solution Approach 1:

The system dynamically adjusts its operation based on the time context. When the current time is after the cut-off time, it switches to real-time processing to ensure same-day payment application, thereby maintaining customer satisfaction without requiring complex manual interventions.

Inventive Principle:

Principle #15Dynamics

Solution Approach 2:

The system automatically determines whether to use batch or real-time processing based on the current time and payment due date, without requiring manual customer service intervention. This self-service capability resolves the contradiction by autonomously optimizing for customer satisfaction while maintaining reasonable system complexity.

Inventive Principle:

Principle #25Self-service

3Loss of time

If real-time payment processing is always used, then payment application timing is improved to same-day, but processing efficiency and resource utilization worsen due to lack of batching

Engineering Contradiction:

Improvepayment application timingVSAvoidprocessing efficiency

Core Design Contradiction:

Loss of timeVSProductivity

Solution Approach 1:

The system dynamically selects the processing mode based on the temporal context. Before the cut-off time, batch processing is used for efficiency; after the cut-off time, real-time processing is used for same-day application. This dynamic selection resolves the contradiction by optimizing for the appropriate criterion at the appropriate time.

Inventive Principle:

Principle #15Dynamics

Solution Approach 2:

The system uses periodic batch processing during off-peak hours and switches to real-time processing during critical periods (after cut-off time). This periodic alternation between batch and real-time modes resolves the contradiction by applying each mode when it is most beneficial.

Inventive Principle:

Principle #19Periodic action

Data Source

PatentUS7840465B1Systems and methods for conducting real-time application of electronic payments

Publication Date: 2010.11.23 UNITED SERVICES AUTOMOBILE ASSOCIATION (USAA)

AI summary

An organization electronically receives a payment from a customer of the organization based on a current time. If the current time is before a predetermined time relating to an identified payment due date, a non-real-time payment system is employed to effectuate the payment from the customer. The non-real-time payment system processes the payment at a later time on or before the identified payment due date such that the payment is applied to the customer on or before the identified payment due date. If the current time is after a predetermined time relating to the identified payment due date, a real-time payment system is employed to effectuate the payment from the customer. The real-time payment system processes the payment at the current time such that the payment is applied to the customer at the current time.