Receipt Visualization Interface for Spending Pattern Analysis
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Solution Overview
Problem
Current systems for managing and viewing transaction data, such as bank and credit card accounts, are limited in providing detailed item-level receipt information, making it inconvenient for consumers to access and visualize their spending patterns.
Innovation Solution
A method and system that aggregates receipt data from various merchants and presents it to consumers through a user interface featuring a thumbnail arrangement of discrete objects, allowing for easy visualization and retrieval of item-level details on a computer or mobile device.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Loss of information
If transaction information is presented in a single line item format through online bank or credit card accounts, then the system maintains simplicity in data presentation, but detailed item-level receipt details become inaccessible and consumers must download and search through multiple prior statements to review older transactions
Solution Approach 1:
The patent extracts item-level receipt details from the limited line item format presented by banks and credit card companies. By capturing and storing detailed receipt information separately from the transaction summary, the system makes granular purchase data accessible without requiring consumers to search through multiple statements.
Solution Approach 2:
The patent introduces an intermediary system that collects receipt data from merchants and stores it in a centralized database. This intermediary layer between consumers and merchants enables direct access to detailed receipt information without requiring consumers to navigate through bank statements or visit individual merchant websites.
2Loss of information
If consumers visit individual merchant sites to view receipts or receipt data, then complete receipt information can be accessed, but the process becomes inconvenient and time-consuming
Solution Approach 1:
The patent merges receipt data from multiple merchants into a single centralized database accessible through one interface. Instead of requiring consumers to visit individual merchant websites, the system consolidates all receipt information in one location, making it convenient to access complete receipt data across all purchases.
Solution Approach 2:
The patent creates a universal receipt access system that works across multiple merchants and transaction types. The centralized database and interface provide a multi-functional solution that handles various receipt formats and merchant systems through a single access point, eliminating the need for merchant-specific visits.
3Loss of information
If detailed item-level receipt data is collected and stored from multiple merchants, then comprehensive spending information becomes available, but the complexity of data aggregation and management increases
Solution Approach 1:
The patent employs an intermediary centralized database that standardizes and manages receipt data from multiple merchants. This intermediary structure handles the complexity of data aggregation, normalization, and storage, shielding consumers from the underlying system complexity while providing comprehensive spending information.
Solution Approach 2:
The patent transforms receipt data from various merchants into a standardized format with consistent parameters and structure. By changing the parameters of data representation and establishing uniform data standards, the system simplifies the management and analysis of aggregated receipt information while maintaining completeness.
Data Source
AI summary
Visually presenting spending behavior, spending patterns, and spending activity to a consumer across of their all receipt based purchase transactions. Receipt data is received at a first or host computer from respective transaction processing devices or host systems of respective merchants, or received from self-service action of the consumer, and identifies respective goods or services purchased by the consumer. A user interface is displayed to the consumer and comprises a thumbnail arrangement of discrete objects, each of which represents respective receipts generated by respective transaction or transaction processing devices. A discrete object may comprise data of one or multiple goods or services and includes category indicators that visually inform the consumer about the type of good or service. Embodiments may also involve requesting receipt data utilizing a mobile communication device, searching receipt data collected by the computer and responding to the request with requested receipt data.