Token-Based Inactive Digital Wallet Identification
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Solution Overview
Problem
Digital wallet service providers lack the ability to identify inactive digital wallets and users, preventing them from sending targeted promotions, as they do not collect or store transactional information.
Innovation Solution
A method and system that generates tokens for payment cards added to digital wallets, analyzes transaction data to determine inactive tokens based on predetermined conditions, and sends targeted messages to associated consumers.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If digital wallet service providers do not collect or store transactional information to maintain data security, then data security risk is reduced, but the ability to identify inactive digital wallets and send targeted promotions is lost
Solution Approach 1:
The patent introduces an intermediary system that collects and analyzes transaction data without the digital wallet service provider directly storing sensitive information. The intermediary processes transactional data to identify inactive wallets and generates insights that are returned to the service provider, enabling targeted promotions while maintaining data security through indirect information flow
Solution Approach 2:
The system segments the transaction data processing function from the digital wallet service provider by introducing a separate analysis component. This segmentation allows the service provider to maintain data security by not directly storing or processing raw transactional information, while still obtaining the necessary insights about wallet activity status
2Productivity
If digital wallet service providers store transaction data to identify inactive consumers, then the ability to send targeted promotions is improved, but data security risk increases
Solution Approach 1:
An intermediary analysis system is introduced that handles the collection and processing of transactional data. This intermediary acts as a buffer between the data source and the digital wallet service provider, enabling the provider to obtain insights about inactive consumers for targeted promotions without directly storing or handling sensitive transactional information, thus reducing data security risk
3Measurement precision
If digital wallet service providers analyze transaction data to identify inactive tokens, then consumer categorization is improved, but system complexity increases
Solution Approach 1:
The patent extracts the complex data analysis function from the digital wallet service provider by introducing a separate analysis system. This extracted component handles the sophisticated analysis of transaction patterns and consumer behavior, while the service provider receives simplified results in the form of identified inactive tokens and consumer categories, thereby improving categorization accuracy without significantly increasing the complexity of the core wallet service
Data Source
AI summary
A method for selecting consumers for targeted messages is described, the method comprising the steps of generating a token for representing a payment card number, and storing in a token table, an association of a wallet service provider ID, a digital wallet ID, the payment card number and the token. The method further comprises the steps of analyzing transaction data in a transaction table, the transaction data comprising transactions, and determining that the token is inactive when at least one of a set of predetermined conditions is satisfied. The method further comprises the steps of identifying the digital wallet ID and the wallet service provider ID that is associated with the inactive token and providing the identified digital wallet ID to a digital wallet service provider server having the identified wallet service provider ID, the identified digital wallet ID associated with the consumer to be selected for targeted messages.