Receipt Annotation With Separate Payment Notes for Secure Reimbursement
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Solution Overview
Problem
The conventional process of reimbursing expenses through email with attached receipts and bank information poses security risks and lacks flexibility in payment options, as it involves sharing sensitive bank account details, which can be mitigated by linking bank accounts to online payment services but still requires sharing identifiers.
Innovation Solution
A system and method for associating payment information with a receipt by establishing a login session, uploading the receipt to a programmed server, indexing and timestamping it with search tags, extracting financial information via OCR, and annotating it with payment information in a separate note, which is stored with the receipt.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If bank account information is shared via email for reimbursement, then payment can be made, but security risks and identity theft risks increase
Solution Approach 1:
The patent extracts sensitive bank account information from the email communication channel and stores it separately in a secure database. The system retrieves this information only when needed for payment processing, preventing exposure during the reimbursement request transmission.
Solution Approach 2:
The patent introduces an intermediary payment service platform that acts as a mediator between the reimbursement requester and the payee. This platform handles the sensitive bank information securely, allowing payment to be made without directly sharing bank details through email.
2Reliability
If online payment services are used to link bank accounts, then anonymity is improved and security risks are lowered, but flexibility in payment options is reduced
Solution Approach 1:
The patent creates a universal payment platform that supports multiple payment methods and options while maintaining bank account anonymity. The system can handle various payment scenarios (reimbursement, salary, other payments) through a single interface that protects sensitive information.
Applied Scientific Principles
This section explains which scientific principles are used to turn an abstract innovation direction into a practical engineering solution.
Function Achieved in This Case
This approach enhances security by isolating sensitive information, reduces identity theft risks, and provides flexibility in payment options by allowing users to manage and control access to confidential data, while enabling seamless integration with online payment services.
Implementation Method 1
financial information is extracted from the receipt with optical character recognition
Data Source
AI summary
Systems and methods relate generally to associating an online financial service with a receipt are disclosed. In one such method, a login session is established with a programmed server. The receipt is uploaded to the programmed server. The receipt is indexed and timestamped by the programmed server with at least one search tag in association therewith. Financial information is extracted from the receipt with optical character recognition. The receipt is annotated with a note having payment information for a payment service of the online financial service. The note is stored in association with the receipt though separate from the receipt.