Shared-Ledger Interfaces for Managing Supplemental Payment Sources
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Solution Overview
Problem
Consumers face burdens in selecting and managing multiple payment sources for transactions, leading to inconsistent accounting and a cumbersome user experience, particularly when using a combination of payment vehicles.
Innovation Solution
A system and method for managing supplemental payment sources using a shared ledger and user interface, enabling users to link multiple payment sources to a single account, apply preference settings based on merchant identities, and process transactions efficiently.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If consumers use multiple payment sources for transactions, then payment flexibility is improved, but account management complexity increases
Solution Approach 1:
The patent combines multiple supplemental payment sources (gift cards, store credits, loyalty points, alternative currencies) into a single unified account structure. Users can link various payment vehicles to one account and manage them through a single interface, eliminating the need to separately manage multiple accounts while maintaining the ability to use diverse payment sources for transactions.
2Measurement precision
If consumers manage multiple payment accounts separately, then accounting precision is improved, but user operation ease deteriorates
Solution Approach 1:
The unified payment account serves multiple functions simultaneously: it stores various supplemental payment sources, tracks balances across different payment vehicles, processes transactions using any linked payment source, and provides a single user interface for all account management operations. This multi-functional approach maintains precise accounting while greatly simplifying user operations.
3Productivity
If users link multiple supplemental payment sources to a single account, then account management efficiency is improved, but system complexity increases
Solution Approach 1:
The system segments the management of multiple payment sources by organizing them within a hierarchical structure where a single unified account serves as the parent container, and individual supplemental payment sources (gift cards, store credits, loyalty programs, alternative currencies) are organized as separate linkable entities. This segmentation allows efficient management through the unified interface while maintaining clear boundaries and accountability for each payment source.
Data Source
AI summary
User devices are disclosed for managing a plurality of supplemental payment sources of a user. One method includes: generating and displaying a user interface prompting a user to input: an identifier of a primary payment source account for applying resources to transactions originating at one or more merchants, the primary payment source account being accounted for in a first data structure of a shared ledger and having its identifier linked with one or more supplemental payment source accounts; identifiers of one or more supplemental payment source accounts for applying resources to transactions originating at one or more merchants, the supplemental payment source accounts being accounted for in second and subsequent data structures of the shared ledger; and preference settings for applying resources of the primary payment source account and the supplemental payment source accounts to transactions, based on identities or categories of merchants involved in the transactions.