Tokenized Payment Intermediary for SME Anonymity
Find Innovative SolutionsGenerate Solutions
Solution Overview
Problem
Small and medium-sized enterprises (SMEs) face challenges in implementing electronic transaction systems due to high costs and lack of standardized systems for cost sharing, and traditional payment methods require bank account information transparency, limiting anonymity and flexibility in payment processing and conflict resolution between different accounting software applications.
Innovation Solution
A computer-implemented method and system for connecting corporate entities, enabling credibility rating, identity verification, and secure business transactions, including automated invoice processing, enhanced payment document generation, and secure payment processing that allows for anonymous transactions between entities without revealing bank account information.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If traditional payment methods are used, then payment processing can be performed, but bank account information transparency is required which limits anonymity and flexibility
Solution Approach 1:
The patent introduces an intermediary payment processing system that acts as a mediator between payors and payees. This system uses tokenization to replace sensitive bank account information with non-sensitive tokens, allowing payments to be processed without exposing actual bank account details. The intermediary system manages the mapping between tokens and real account information, enabling anonymous payments while maintaining the ability to process transactions securely.
2Extent of automation
If SMEs install dedicated electronic transaction systems, then electronic transactions can be performed, but the cost is too high for small and medium-sized enterprises
Solution Approach 1:
The patent describes a universal payment processing system that serves multiple functions: it handles electronic transactions, provides conflict resolution between accounting applications, enables anonymous payments through tokenization, and offers credibility rating services. By consolidating these functions into a single standardized platform, SMEs can access electronic transaction capabilities without needing to implement separate dedicated systems for each function, thereby reducing overall implementation costs.
Solution Approach 2:
The system incorporates automated conflict resolution mechanisms that use machine learning to automatically resolve conflicts between different accounting software applications without requiring manual intervention or expensive dedicated reconciliation systems. The auto-learned conflict resolution capabilities allow the system to serve itself, reducing the need for costly manual processing and specialized infrastructure.
3Measurement precision
If automated conflict resolution is enhanced with more learning cycles, then conflict resolution accuracy improves, but processing time increases
Solution Approach 1:
The system performs preliminary learning during off-peak periods or in advance, building up a knowledge base of conflict resolution patterns before they are needed. The machine learning models are trained beforehand on historical conflict data, so when actual conflicts arise during transaction processing, the system can quickly apply pre-learned solutions rather than learning in real-time. This separates the learning phase from the execution phase, improving both accuracy and speed during actual transactions.
Data Source
AI summary
Among other things, embodiments of the present disclosure enables corporate entities to connect with each other and enables social networking interactions, credibility rating, identity verification, and/or business transactions between the corporate entities.