Unified Transaction Handler for Loyalty Reward Redemption
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Solution Overview
Problem
Current payment processing systems face inefficiencies and delays in processing payments and offers due to separate systems for payment processing and offer redemption, leading to inefficient resource allocation and increased processing time.
Innovation Solution
A transaction handler is configured to determine if a payment transaction is eligible for an offer benefit, splitting the transaction into multiple transactions to apply the offer benefit, allowing for concurrent processing and integration with existing payment systems, thereby reducing processing time and improving resource allocation.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Loss of time
If separate systems are used for payment processing and offer redemption, then system complexity is reduced and ease of operation is improved, but processing time increases and productivity decreases
Solution Approach 1:
The patent combines separate payment processing and offer redemption systems into a unified transaction processing system. The transaction handler integrates both functions, allowing simultaneous processing of payments and offer applications, which reduces processing time while managing complexity through centralized coordination.
Solution Approach 2:
The unified system is segmented into distinct functional modules including the transaction handler, offer management system, and payment processing components. This modular segmentation allows the system to handle multiple functions concurrently while maintaining manageable complexity through clear separation of responsibilities.
2Productivity
If separate systems are used for payment processing and offer redemption, then ease of operation is improved, but resource allocation efficiency worsens
Solution Approach 1:
The transaction handler is designed as a universal component that performs multiple functions including payment authorization, offer eligibility determination, and reward application. This multi-functionality improves resource allocation efficiency by consolidating processing tasks while maintaining ease of operation through a unified interface.
Solution Approach 2:
By merging payment processing and offer redemption into a single integrated system, the patent eliminates duplicative resource allocation in separate systems. The unified architecture allows shared resources to be efficiently utilized across both functions while presenting a streamlined operational interface.
3Adaptability or versatility
If separate systems are used for payment processing and offer redemption, then system simplicity is improved, but interoperability worsens
Solution Approach 1:
The transaction handler serves as an intermediary component that interfaces between payment processing systems and offer redemption systems. This mediator enables interoperability between different systems while managing complexity by providing standardized communication protocols and unified transaction management.
Solution Approach 2:
The integrated transaction processing system provides universal functionality that can handle various payment types and offer configurations through a single platform. This universality enhances interoperability across different systems while maintaining manageable complexity through standardized processing routines.
Data Source
AI summary
A system includes a rule engine to determine details of loyalty reward currency redemption from one or more reward accounts as part of the processing of a payment transaction in a payment account of a user. The redemption details are determined based on user preferences and rules of the loyalty programs, and transmitted to the user during the authorization of the payment transaction. During the authorization and/or within a time window after the authorization, but before the settlement of the payment transaction, the user may provide a confirmation message that may accept, reject, or modify the redemption details. A transaction handler is configured to authorize and/or settle the payment transaction, as modified by the redemption details initially computed by the rule engine and subsequently confirmed, rejected or modified by the user via an optional confirmation message.