Transaction Benefit Selection System
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Solution Overview
Problem
Current systems and methods do not allow customers to selectively determine which transactions receive particular rewards or benefits, nor do they enable dynamic identification and application of benefits or rewards based on customer or transaction history.
Innovation Solution
A system and method that enables customers to control payment and accrual of benefits or rewards on a transaction-by-transaction basis, allowing for the selection of benefits such as pausing transactions to avoid interest, extending payment due dates, or applying rewards, based on customer preferences and transaction history.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If conventional reward systems are used, then customers receive rewards through predetermined programs, but customers cannot selectively determine which transactions receive particular rewards or benefits
Solution Approach 1:
The system segments the reward application process by allowing customers to select specific transactions individually rather than applying rewards broadly across all transactions. The interface divides transaction history into discrete selectable items, enabling granular control over which transactions receive benefits.
Solution Approach 2:
The system transitions from static predetermined reward programs to dynamic customer-driven reward allocation. Customers can dynamically select which transactions to apply rewards to based on current needs, transaction characteristics, and financial goals, making the system adaptable and flexible.
2Extent of automation
If conventional reward systems are used, then rewards are applied automatically based on program rules, but the system cannot dynamically identify and apply benefits based on customer or transaction history
Solution Approach 1:
The system incorporates feedback loops where customer selections and transaction data are continuously analyzed. The system learns from customer choices and transaction patterns to provide intelligent recommendations and dynamically identify suitable rewards, combining automation with adaptability.
Solution Approach 2:
The system pre-processes transaction history and identifies potential reward opportunities before customer selection. By analyzing transaction characteristics in advance and preparing reward recommendations, the system reduces customer effort while maintaining dynamic adaptability.
3Adaptability or versatility
If customers want to pause transactions to avoid interest or extend payment due dates, then financial flexibility is enhanced, but the system complexity increases
Solution Approach 1:
The system provides multiple financial management functions through a single unified interface: reward application, transaction pausing, payment date extension, and interest management. This multi-functionality achieves high financial flexibility without proportionally increasing system complexity.
Solution Approach 2:
The system introduces an intermediary layer between the customer and complex financial operations. This intermediary interface simplifies complex actions like pausing transactions or extending payment dates into user-friendly selections, shielding customers from underlying system complexity.
Data Source
AI summary
Systems and methods for presenting an offer to a customer are disclosed. In one embodiment, a method may include (1) a computer application executed by an electronic device comprising a computer processor receiving a selection of a financing offer from a customer; (2) the computer application receiving, from a back end server, an identification of at least one transaction conducted with a financial instrument that is eligible for the financing offer; (3) the computer application presenting the customer with the at least one eligible transaction; (4) the computer application receiving a selection of one of the at least one eligible transactions; (5) the computer application presenting the customer with at least one option associated with the financing offer; (6) the computer application receiving a selection of one of the options; and (7) the computer application communicating the selection of the transaction and the option to the back end server.