Tap-Based Peer-to-Peer Fund Transfer Without Recipient App
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Solution Overview
Problem
Existing peer-to-peer transfer systems are prone to human error due to the need for manual entry of account information and require both parties to have accounts with the same transfer platform.
Innovation Solution
A method and system that enables a first user device to interact with a second user device to receive the second user's account identifier, and then transmit a push transfer message to a processing network to credit the amount to the second user's account, without requiring the second user device to have the transfer application or be associated with the transfer server.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If manual entry of account information is required for peer-to-peer transfers, then the transfer process can be initiated, but human error increases and transfer accuracy decreases
Solution Approach 1:
The patent replaces the manual mechanical entry of account information with automated electronic detection using optical scanners or NFC readers. The system automatically captures account numbers, routing numbers, and other identifying information from checks or bank cards, eliminating human typing errors while maintaining ease of operation.
Solution Approach 2:
The system enables self-service by allowing the depositors to simply present their bank information (check or card) to the automated scanning system. The system then automatically extracts and processes the account information without requiring manual data entry, reducing both effort and error rates.
2Reliability
If both parties must have accounts with the same transfer platform, then the transfer system can ensure security and control, but the system complexity and barrier to entry increase
Solution Approach 1:
The patent extracts the core transfer initiation function from the requirement of having a recipient account on the same platform. By using automated check scanning and account detection, the system allows senders to initiate transfers to external accounts without the recipient needing to be registered on the sender's platform, reducing system complexity while maintaining security through automated verification.
Solution Approach 2:
The system achieves universality by enabling transfers to multiple types of accounts (different banks, different platform formats) through a single standardized scanning interface. The automated detection system can identify and process various account formats universally, eliminating the need for platform-specific account requirements.
3Reliability
If automated account detection is implemented, then transfer accuracy improves and human error decreases, but the device complexity and technology requirements increase
Solution Approach 1:
The patent introduces an intermediary automated scanning system that acts as a mediator between the physical bank information (check/card) and the digital transfer system. This intermediary device automatically captures and validates account information, improving accuracy while managing complexity through standardized processing protocols and integration with existing banking infrastructure.
Data Source
AI summary
Embodiments allow a user of a first user device transfer funds to a recipient having a second user device. The first user device includes a communication device including a transfer application linked to a first account of the user. The second user device includes a payment card or a communication device that does not have the transfer application. Tapping the first user device to the second user device transmits an account identifier of a recipient account from the second user device to the first user device. The transfer application receives the recipient account identifier and an amount to be transferred to the recipient account. The transfer application generates a push request and transmits the push request to the processing network, which coordinates debiting the amount to the first account and crediting the amount to the recipient account.