Smart Transaction Card Electronic Wallet Token Routing

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Solution Overview

Problem

Many existing chip cards are not compatible with newer contactless payment terminals that use technologies like NFC or BLE, limiting their use in secure and efficient transactions.

Innovation Solution

A smart transaction card that communicates with an electronic wallet device to obtain transaction information, select the appropriate transaction card based on transaction details, and provide a transaction token to the terminal for processing, facilitating transactions without the need for manual card selection.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Adaptability or versatility

If a smart transaction card stores multiple transaction cards in an electronic wallet, then transaction versatility and reward optimization are improved, but device complexity increases

Engineering Contradiction:

Improvetransaction versatilityVSAvoiddevice complexity

Core Design Contradiction:

Adaptability or versatilityVSDevice complexity

Solution Approach 1:

The patent combines multiple transaction cards into a single electronic wallet device. The smart transaction card includes an electronic wallet that stores multiple transaction cards (virtual or physical), allowing the user to access various card types through one device. This merging approach resolves the contradiction by consolidating multiple cards into one unified system, thereby improving versatility while managing complexity through integration rather than multiplication of separate card components.

Inventive Principle:

Principle #5Merging (Combining)

Solution Approach 2:

The electronic wallet device is designed to perform multiple functions: storing various transaction cards, selecting appropriate cards based on transaction criteria, and facilitating different types of transactions (contactless, chip, magnetic stripe). This multi-functional design allows a single device to replace multiple specialized cards, improving adaptability while the standardized architecture keeps complexity manageable.

Inventive Principle:

Principle #6Universality (Multi-functionality)

2Ease of operation

If the smart transaction card automatically selects transaction cards based on transaction information, then ease of operation is improved, but processing time and computational load increase

Engineering Contradiction:

Improveease of operationVSAvoidprocessing time

Core Design Contradiction:

Ease of operationVSLoss of time

Solution Approach 1:

The electronic wallet pre-establishes selection criteria and rules for choosing transaction cards before actual transactions occur. Users can pre-configure preferences for reward maximization, fee minimization, or specific card usage scenarios. When a transaction is initiated, the system quickly matches the current transaction against pre-defined criteria rather than performing complex analysis in real-time, thus improving ease of operation while minimizing processing time.

Inventive Principle:

Principle #10Preliminary action

Solution Approach 2:

The smart transaction card system automatically performs card selection without requiring user intervention. The processor analyzes transaction information and autonomously selects the most appropriate transaction card based on stored criteria. This self-service capability eliminates manual card selection steps, significantly improving ease of operation while the automated nature of the process actually reduces time loss compared to manual selection and switching between multiple physical cards.

Inventive Principle:

Principle #25Self-service

3Speed

If contactless technologies are used in transaction terminals, then transaction speed and security are improved, but compatibility with existing chip cards deteriorates

Engineering Contradiction:

Improvetransaction speedVSAvoidcard compatibility

Core Design Contradiction:

SpeedVSAdaptability or versatility

Solution Approach 1:

The electronic wallet device is designed with multi-functional capabilities to support multiple transaction modes. It can store and facilitate contactless transactions (NFC, BLE), chip card transactions, and magnetic stripe transactions. The system automatically selects the appropriate transaction method based on terminal capabilities and card type, ensuring broad compatibility while enabling users to benefit from faster contactless technology when available. This universal design resolves the contradiction by making the system adaptable to both modern contactless terminals and traditional chip card readers.

Inventive Principle:

Principle #6Universality (Multi-functionality)

Data Source

PatentUS10592896B2Smart transaction card that facilitates use of transaction tokens of transaction cards

Publication Date: 2020.03.17 CAPITAL ONE SERVICES LLC

AI summary

An example smart transaction card may include one or more processors to obtain transaction information associated with a transaction at a transaction terminal; provide the transaction information to an electronic wallet device storing a plurality of transaction cards, the electronic wallet device being separate from the smart transaction card; obtain a transaction token from the electronic wallet device based on providing the transaction information to the electronic wallet, the transaction token being associated with one of the transaction cards of the plurality of transaction cards; and provide the transaction token to the transaction terminal associated with the transaction to facilitate processing the transaction.