Transaction Fund Freezing Mechanism for E-commerce
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Solution Overview
Problem
In e-commerce transactions involving large-amount commodities like automobiles and appliances, the mutual restriction between fund flow and commodity flow hinders smooth transactions, as consumers are reluctant to make full payments online, and sellers are hesitant to deliver goods without assurance of payment.
Innovation Solution
A method and apparatus that freeze a portion of the purchaser's funds after a purchase request, allowing the seller to deliver the goods while the funds remain frozen, and then transfer them to the seller's account after a preset time, with the purchaser earning interest on the frozen amount in the meantime.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If consumers make full payment or large proportion payment in virtual network environment, then sellers are willing to deliver goods, but consumers are reluctant to do so for large-amount commodities
Solution Approach 1:
The patent introduces a third-party payment service provider as an intermediary to handle the payment process. The consumer pays the full amount to the payment service provider, which then holds the funds in a frozen state and releases them to the seller after delivery confirmation. This intermediary mechanism builds trust between buyer and seller without requiring direct payment from consumer to seller, thus resolving the contradiction between payment assurance and transaction convenience.
2Ease of operation
If consumers pay small-amount deposit only, then transaction convenience is improved, but it is difficult to confirm purchase intention and sellers are unwilling to deliver goods
Solution Approach 1:
The patent requires consumers to pay the full amount in advance to the payment service provider before the transaction is completed. This preliminary payment action demonstrates serious purchase intention and provides financial assurance to the seller. The payment is then frozen and only released after delivery confirmation, ensuring both parties' interests are protected while maintaining transaction convenience.
3Quantity of substance
If full payment is required before delivery, then seller's fund flow is improved, but commodity flow and transaction smoothness are hindered
Solution Approach 1:
The payment service provider acts as an intermediary that receives full payment from the consumer and holds it in a frozen state until delivery is confirmed. This mechanism ensures the seller receives full payment (improving fund availability) while the frozen state and automated release process maintain transaction efficiency. The intermediary handles the fund management, allowing the transaction to proceed smoothly without delaying commodity flow.
Data Source
AI summary
A method for processing transaction information for a commodity object is provided. The method includes receiving a request for purchasing a commodity object and generating, based on the request, a transaction order. The transaction order may include transaction amount information, information about a first user selling the commodity object, and information about a second user purchasing the commodity object. The method may further include setting an amount of fund in a fund account of the second user to a frozen state, and after a preset time period, transferring the amount of fund to a fund account of the first user. After the amount of fund is set to the frozen state and before the amount of fund is transferred to the fund account of the first user, an income produced by the amount of fund may be calculated and transferred to the fund account of the second user.