Server-Based Monetary Amount Crediting With Historical Data Comparison
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Solution Overview
Problem
Current methods for crediting a beneficiary account, such as digital wallets, lack transparency for donors in determining appropriate monetary amounts and do not provide insights into how the beneficiary spends the funds, as they rely on unreliable online forums for guidance.
Innovation Solution
A method and server system that allows donors to credit beneficiary accounts by comparing the intended amount against records of past transactions stored in a database, providing a comparison result to help donors decide a suitable amount and offering payment vehicle options with value-added services, while ensuring the funds come from a trusted source.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If digital wallet technology is used to provide allowance to beneficiary, then the traditional cash model is changed and electronic payment capability is enabled, but the donor lacks transparency and accurate guidance on determining appropriate monetary amounts
Solution Approach 1:
The system provides feedback to donors by comparing the monetary amount they wish to credit against historical data from other beneficiary accounts with similar profiles. This feedback mechanism gives donors accurate, data-driven guidance on appropriate amounts to give, resolving the information loss problem while maintaining electronic payment capabilities.
Solution Approach 2:
The server acts as an intermediary between the donor and the beneficiary account crediting process. It receives the donor's intended amount, compares it against historical records, and provides guidance information, thereby mediating the information gap without compromising the electronic payment functionality.
2Ease of operation
If gift cards are used instead of cash, then electronic payment capability is provided, but the donor cannot accurately determine appropriate amounts or monitor beneficiary spending
Solution Approach 1:
The system provides feedback to donors about appropriate monetary amounts by comparing against historical data, and can potentially provide feedback on spending patterns, giving donors both guidance on amounts and awareness of how funds are spent, while maintaining the ease of electronic payment operation.
Solution Approach 2:
The system enables self-service by automatically comparing monetary amounts against historical records and providing guidance without requiring donor intervention or manual monitoring, thus maintaining ease of operation while providing comprehensive information.
3Loss of information
If donors rely on online forums for guidance on allowance amounts, then they can get information, but the accuracy of the information is dependent on the honesty of forum contributors
Solution Approach 1:
The system replaces the mechanical system of relying on human forum contributors with an automated computer-based system that uses objective historical data from the database. This substitution eliminates the reliability issue associated with human honesty while providing accurate, data-driven guidance on appropriate allowance amounts.
Solution Approach 2:
The server acts as a neutral intermediary that provides objective, data-driven guidance based on actual historical records from the system, eliminating the need for donors to rely on potentially untrustworthy forum contributors while maintaining accurate information provision.
Data Source
AI summary
According to a first aspect of the disclosure, there is provided a method for crediting a monetary amount to a beneficiary account from which payments are made, the method comprising: identifying, to a server administering the crediting of the beneficiary account, the beneficiary account to which the monetary amount is to be credited; receiving, at the server, an indication of the monetary amount to credit the beneficiary account; comparing the monetary amount against records of past amounts credited into other beneficiary accounts, the records being stored in a database of the server; generating a result of the comparison; and crediting the beneficiary account with the monetary amount.