Transaction Change Back Processing via Digital Wallet Integration
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Solution Overview
Problem
The COVID-19 pandemic exacerbated a coin shortage among merchants due to reduced customer interactions and increased cashless transactions, while cash remains a preferred payment method for some, especially un-banked or under-banked individuals, necessitating innovative solutions for handling coin change during transactions.
Innovation Solution
A system and method for transaction change back processing, where a customer scans a code displayed on a transaction terminal to direct cash or coin change to a digital wallet, loyalty wallet, or donation wallet via a mobile device, allowing customers to control how their change is processed, thereby reducing physical interaction and enabling merchants to build loyalty and facilitate charitable donations.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If merchants accept cash payments to serve un-banked customers and maintain privacy, then customer payment options are improved, but coin shortage and change management problems worsen
Solution Approach 1:
The patent introduces a digital intermediary system (mobile device with application) that mediates between the customer's cash payment and the merchant's change dispensing. The system captures an image of the cash, processes it through a server, and provides digital confirmation, eliminating the need for physical coin handling while maintaining cash payment functionality.
Solution Approach 2:
The patent replaces the mechanical system of physical cash handling and coin dispensing with a digital imaging and processing system. Instead of physically counting and dispensing coins, the system uses a camera to capture cash images, processes them electronically, and provides digital verification, thereby eliminating the coin shortage problem.
2Object-affected harmful factors
If merchants minimize customer-staff interaction to reduce virus transmission, then health safety is improved, but change back processing becomes more complex
Solution Approach 1:
The patent implements a self-service system where customers independently place their cash on the sensor, capture images through their own mobile devices, and receive change confirmation without staff intervention. This eliminates the need for cashiers to handle cash or dispense coins, reducing virus transmission risk while the digital system manages the complexity of change processing.
Solution Approach 2:
The patent introduces a digital intermediary (mobile application and server system) that mediates the entire change back process. The system captures cash images, processes them through electronic algorithms, and provides verification, thereby eliminating the need for direct human interaction while managing the processing complexity through automated digital systems.
3Quantity of substance
If merchants encourage non-cash payments to resolve coin shortage, then coin availability is improved, but cash-paying customers and their preferences are lost
Solution Approach 1:
The patent creates a universal system that handles multiple payment scenarios through a single platform. The same mobile application and server infrastructure can process both traditional cash payments with physical change and cashless payments with digital wallet integration, allowing merchants to serve all customer preferences while resolving the coin shortage through centralized digital management.
Data Source
AI summary
When change back is due to a customer at a transaction terminal after a cash payment made by the customer during checkout, a code is generated and rendered on a display of the terminal. The customer captures the code with a camera of a customer-operated device causing a mobile application to launch on the device requesting that the customer designate how the customer wants the change back to be provided. The customer can select a loyalty wallet, a digital wallet, and/or a donation wallet for transferring some or all of the change back. The designated amount of the change back is transferred to the customer-selected wallet(s) and any remaining cash bills still due to the customer as remaining change back is provided to the customer and the transaction concludes at the terminal.