Smart Card Bill Capture and Payment Execution
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Solution Overview
Problem
Conventional payment instruments require external devices for transaction execution, leading to inefficiency and security risks, especially in multi-step processes like utility bill payments.
Innovation Solution
A smart card with a microprocessor, camera, and wireless communication capabilities that captures bill images, processes text fields to determine payment amounts and recipients, and executes payments via a payment gateway, leveraging AI for recipient identification and payment routing.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If conventional payment instruments are used with external devices, then transaction execution is possible, but security risks increase and efficiency decreases
Solution Approach 1:
The patent combines the payment instrument with an imaging device (camera) and processing capabilities into a single integrated device. The payment card includes a camera module that can capture images of bills, and the system processes these images directly on the device or through connected systems, eliminating the need to manually input information from external devices. This merging of functions into one device reduces security risks associated with multiple devices while maintaining operational efficiency.
Solution Approach 2:
The payment instrument is equipped with self-contained capabilities including an integrated camera, image processing software, and automated payment execution functions. The device can autonomously capture bill information, process the captured images to extract payment details, and execute payments without requiring external assistance or manual data entry. This self-service capability improves both security by reducing external interfaces and efficiency by automating the entire transaction process.
2Measurement precision
If multi-step processes are used for bill payments, then payment information can be extracted and executed, but time consumption increases
Solution Approach 1:
The system performs preliminary actions by capturing the bill image at the point of use and pre-processing the information extraction before the actual payment execution. The camera captures the bill, and the system immediately begins extracting payment information such as amount, due date, and recipient details. This preliminary processing of information preparation reduces the time required during the actual payment execution phase while maintaining accuracy through automated extraction methods.
Solution Approach 2:
The patent replaces manual mechanical processes (handwriting, typing, copying bill information) with automated optical and digital systems. The camera captures the bill image, and software algorithms automatically extract and validate payment information, eliminating the need for manual data entry and reducing errors. This substitution of automated systems for manual processes significantly reduces transaction time while maintaining or improving information accuracy.
Data Source
AI summary
Systems and methods for secure and efficient bill capture, analysis, and execution are provided. A method may include capturing, via a camera embedded in a smart card, an image of a bill. The bill may include a plurality of text fields. The method may include processing the text fields via a microprocessor embedded in the smart card. The method may include determining, based at least in part on the processing of the text fields, a balance amount and a payment recipient associated with the bill. The method may also include executing a payment for the balance amount from an account associated with a user of the smart card to an account associated with the payment recipient. The executing may be performed via a wireless communication element embedded in the smart card which may be configured to provide wireless communication between the smart card and a payment gateway.