Smart Transaction Card Wireless Item Data Capture
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Solution Overview
Problem
Current inventory management systems waste resources by attempting to identify item-level data (SKU data) during transactions, as transaction data typically lacks item-level details, requiring additional processing and customer input.
Innovation Solution
A method utilizing machine learning and a smart transaction card to automatically identify item data by wirelessly communicating with price tags and sensors, processing item, customer, and rewards data to provide real-time rewards to customers.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Productivity
If traditional transaction processing methods are used to identify item data, then additional processing steps and customer input are required, but this increases processing time and operational complexity
Solution Approach 1:
The transaction card automatically performs item data identification by wirelessly communicating with price tags and sensors during the transaction process. The system serves itself by autonomously capturing item-level data without requiring external intervention, customer input, or additional processing steps, thereby resolving the contradiction between processing efficiency and system complexity
Solution Approach 2:
Item data is captured in advance during the transaction process itself, before the transaction is finalized. The smart card reads item data from price tags and sensors as items are placed in the cart, preparing the data beforehand so that no additional processing or customer input is needed later, thus improving productivity without increasing complexity
2Loss of energy
If item data is not automatically captured during transactions, then resource waste occurs through additional processing attempts, but implementing automatic capture requires new technology infrastructure
Solution Approach 1:
The transaction card performs multiple functions: it serves as both the payment instrument and the item data identification device. By making the card multi-functional, the system eliminates the need for separate data capture infrastructure while preventing resource waste from manual processing attempts, thus reducing energy loss without significantly increasing infrastructure complexity
Solution Approach 2:
The smart transaction card acts as an intermediary between the item (price tag/sensor) and the transaction processing system. It automatically captures and transmits item data, eliminating the need for additional processing attempts and reducing computing resource waste, while the card itself handles the complexity of communication with various price tag and sensor technologies
3Measurement precision
If manual item data identification is used, then system simplicity is maintained, but accuracy and completeness of item-level data are compromised
Solution Approach 1:
The transaction card autonomously performs item data identification by directly communicating with price tags and sensors. This self-service capability ensures accurate capture of item-level data without human intervention, achieving high measurement precision while keeping the system relatively simple as it uses existing transaction card infrastructure
Solution Approach 2:
The patent replaces manual/mechanical data identification methods with wireless communication technology. The smart card uses electromagnetic fields to communicate with price tags and sensors, automatically capturing item data with high accuracy, thus improving measurement precision by substituting manual processes with automated electronic systems
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
Conserves computing and networking resources by automating the identification of item data, improving efficiency and accuracy in transaction processing while enhancing customer loyalty and business generation.
Implementation Method 1
the item data may be received by a transaction card from a price tag of the item and via a wireless communication with the price tag
Data Source
AI summary
A device may receive, from a client device associated with a customer, an agreement of the customer to join a rewards program, and may receive, from the client device and based on the customer joining the rewards program, item data identifying an item placed in a shopping cart by the customer and customer data identifying the customer, wherein the item data is received by a transaction card from a price tag of the item, and wherein the item data is received after the item has been removed from a shelf and placed in the shopping cart. The device may receive rewards data identifying rewards associated with a plurality of items, and may process the item data, the rewards data, and the customer data, with a machine learning model, to identify a reward for the customer. The device may provide, to the client device, data identifying the reward.