Remote Transaction Control for Asset Financing

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Solution Overview

Problem

Existing financing arrangements for purchasing assets in low-income settings are costly, difficult to administer, and often lead to neglect of maintenance, resulting in increased repair costs, especially in developing economies.

Innovation Solution

A device with a dedicated power supply independent of mains power, connected to a remote transaction processing system via a mobile communications device, which allows usage only after successful payment processing, using a solar collector and/or electro-voltaic cell, and includes a usage monitor to record and transmit usage information, enabling payment for device use with credit that can also cover mobile communications.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Quantity of substance

If traditional financing arrangements are used to purchase assets, then possession can be obtained with lower initial costs, but administration costs become significantly higher and the process becomes difficult to enforce

Engineering Contradiction:

Improveinitial payment amountVSAvoidadministration complexity

Core Design Contradiction:

Quantity of substanceVSDevice complexity

Solution Approach 1:

The patent replaces traditional mechanical/administrative financing systems with an electronic control system. The device includes a control unit that communicates with a remote transaction processing system via mobile communications, automatically verifying payment status and controlling device operation state, thereby eliminating complex manual administration while enabling installment payments

Inventive Principle:

Principle #28Mechanics substitution (Replace mechanical system)

Solution Approach 2:

The patent introduces a mobile communications device as an intermediary between the user and the asset control system. This intermediary facilitates automatic payment verification and transmission of operational commands, simplifying the administration process while enabling enforcement of payment terms

Inventive Principle:

Principle #24Intermediary (Mediator)

2Quantity of substance

If traditional financing arrangements are used, then asset purchase is enabled, but maintenance is neglected leading to increased repair costs

Engineering Contradiction:

Improveinitial payment amountVSAvoidasset maintenance status

Core Design Contradiction:

Quantity of substanceVSReliability

Solution Approach 1:

The control unit continuously monitors the operational state of the device and communicates with the transaction processing system to verify payment status. This feedback mechanism ensures that the device remains operational only when payments are current, creating an automatic incentive for timely maintenance and payment

Inventive Principle:

Principle #23Feedback

Solution Approach 2:

The system automatically controls the operational state of the device based on payment verification without requiring manual intervention. The device self-regulates its functionality according to payment status, eliminating the need for complex administrative oversight while ensuring maintenance compliance

Inventive Principle:

Principle #25Self-service

3Ease of operation

If the device is always operational, then usage convenience is maximized, but payment enforcement becomes difficult

Engineering Contradiction:

Improvedevice availabilityVSAvoidpayment enforcement

Core Design Contradiction:

Ease of operationVSReliability

Solution Approach 1:

The operational state of the device is made dynamic rather than static. The control unit can switch the device between operational and non-operational states based on real-time payment verification, allowing the system to adapt its behavior according to payment status while maintaining ease of use during valid payment periods

Inventive Principle:

Principle #15Dynamics

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

Enables possession of an asset with lower initial costs, gradual repayment, and ensures maintenance through credit-based usage, reducing overall costs and promoting asset maintenance by linking payment to operational state, thus extending the life of the asset.

Implementation Method 1

the dedicated power supply comprises a solar collector and/or an electro-voltaic cell

Methodology Applied

Scientific EffectPhotovoltaic Effect: Photovoltaic Effect

Data Source

PatentUS9858568B2Transaction processing and remote activation

Publication Date: 2018.01.02 M KOPA IPR

AI summary

A device is communicatively connected to a remote transaction processing system. In at least one embodiment, the device comprises a dedicated power supply that is independent of a mains power supply, and has an operational state that is set according to an outcome of a transaction processed by the remote transaction processing system. The remote transaction processing system processes the transaction via communication with a separate mobile communications device. In another embodiment, a system comprises a device having a primary function other than facilitating communication, an interface for operating the device, and a transaction processing system that is remote from the device. The device, the interface, and the transaction processing system communicate wirelessly. The transaction processing system is configured to process payment transactions for usage of the device, and the outcome of the payment transactions determines whether the device is operational to provide its primary function.